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E-mail archives 1-01
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of them have been edited from the original to correct typos and new information!
I have been sending them since June, 1994.
1/28/01 Pressure Protests/USPAP/linkz
USPAP 2001 online
USPAP 2001 is now online at http://www.appraisalfoundation.org . Click on
the Appraisal Standards Board link on the home page.
The online version is useful for looking for a word or phrase, but the
printed version better for general use.
AOL Users: <a href= http://www.appraisalfoundation.org> Click Here</a>
USPAP changes every year. What is the date of the USPAP on your desk?
To order a printed copy of USPAP 2001 for $25, call 202-347-7722 or go to
their web site and click on Order Here on the home page. The combo USPAP
and FAQs is $32. Well worth the money!
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************************************************
Appraisers' pressure protests pick up
The online petition to the ASC at http://www.appraiserspetition.com has
about 3,800 names, way up from about 1,800 two weeks ago .
AOL Users: <a href=http://www.appraiserspetition.com> Click Here</a>
NAIFA has a link to the petition at www.naifa.com . The American Society of
Appraisers (ASA) is supporting the petition. NAR's Appraisal Section has a
copy of the petition at http://www.narappraisalsource.com/ The Appraisal
Institute (AI) is pushing for a Congressional
investigation and legislative action in the 107th Congress.
So what do I think? Ever since the 1930s, appraisers' role in lending has
been "umpires" or "deal killers." With the shift to credit lending, finally
the lenders are getting what they want - rubber stamp (or no) appraisers.
The only way it will change is for lending regulators to crack down. But
why would they crack down when banks aren't going into default (the recent
S&L crisis)? Consumers just want to get their loan, lenders want to make
the loan.
On a more positive note, if no one says anything, nothing will change.
---------------------
Can't find that email with the hot link??
We get many calls in my office from people looking for appraisal info. My
assistant, Denise, sends them to my web site at
http://www.appraisaltoday.com .
AOL Users: <a href=http://www.appraisaltoday.com> Click Here</a>
I use a search tool provided by Atomz on my Web site. Just click on Search
in the yellow bar at the top of each page. I use it all the time myself!!
It also
-------------------------
Some good links
A free educational guide for grammar and writing. It's well organized and
easy to use. http://ccc.commnet.edu/grammar/
Thanks to John H. Urubek, MAI, CCIM for this link.
AOL Users: <a href=http://ccc.commnet.edu/grammar> Click Here</a>
A great site with very useful links such as Bartlett's Quotations, Computer
dictionary, Web traffic report at
http://www.installationsplus.com/lookup.htm . I use these sites regularly
but sometimes lose them in my bookmarks! Thanks to Curt Drahn for this link.
AOL Users: <a href=http://www.installationsplus.com/lookup.htm> Click Here</a>
For reviews of good Internet-related software by Wayne Pugh, SRPA, such as
Shields Up and Copernic 2000, go to
http://www.appraisalinstitute.org/ano/1-16-01/tech_reviews.htm
AOL Users: <a
href=http://www.appraisalinstitute.org/ano/1-16-01/tech_reviews.htm> Click
Here</a>
------------------------------
Apps down/up
The market composite index of mortgage loan applications—a measure of loan
purchases and refinances—for the week ending Jan. 19 decreased 14.3 percent
to 595.3 on a seasonally adjusted basis from 694.9 the previous week,
according to the Weekly Mortgage Applications Survey of the Mortgage
Bankers Association of America (MBA), which was released Jan. 24. On an
unadjusted basis, the application index decreased 21.9 percent, but was up
101.7 percent compared to the same week a year earlier.
=======================
I now have online ordering of my newsletter, books, tapes, etc. Go to
http://www.appraisaltoday.com/orderfrm.htm . Or, call 800-839-0227 for a
brochure and free sample issue.
AOL Users: <a href=xx> Click Here</a>
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address, hit the reply button and type in your old and new email addresses.
Ann O'Rourke, MBA, SRPA, SRA
Appraiser and Publisher of Appraisal Today newsletter
2015 Clement Ave.
Alameda, CA 94501
mailto:ann@appraisaltoday.com
phone: 800-839-0227//fax: 800-839-0014
http://www.appraisaltoday.com for appraisal news, info, and a few jokes!
1/21/01 Apps up 89%/Reports on HUD/client "problems"
HUD appraiser volume link down
If you didn't make it to the HUD link that had the number of appraisals
each appraiser performed by county, you're out of luck. It has been
removed. Seems like there was too much controversy over the statistics of delinquencies and foreclosures for homes appraised by individual
appraisers. I knew I shoulda gone back and checked everybody local!!
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World s Ten Most Expensive Office Markets Report Released
In a collaborative effort, DTZ Debenham Tie Leung, The Staubach Company and
AEW Capital Management, L.P., have released the results of the fourth
annual Global Office Occupancy Costs Survey, ranking New York City
(Midtown), Boston and San Francisco as the three most expensive office
markets in the U.S. and the sixth, seventh and ninth most expensive in the
world. The survey further reveals that occupancy costs in these top three
North American cities have risen between 30 and 49% during 2000.
FYI, the highest is London (West End) at $158.21. New York is only $80 PSF!!
The survey is available at http://www.staubach.com
. Click on Knowledge Base.
Thanks to Brenda Dohring, MAI at http://www.realwired.com
for this great link!
----------------
Apps up 89.4%
The market composite index of mortgage loan
applications-a measure of loan purchases and refinances-for the week ending Jan. 12 increased 44.6 percent to 694.9 on a seasonally adjusted basis from
480.5 the previous week, according to the Weekly Mortgage Applications Survey of the Mortgage Bankers Association of America (MBA), which was
released today. On an unadjusted basis, the application index increased 89.4 percent, and was up 143.2 percent compared to the same week a year earlier.
The MBA seasonally adjusted Purchase Index increased from 292.8 the
previous week to 332.9; the seasonally adjusted Refinance Index increased from 1572.1 the previous week to 2800.6. Other seasonally adjusted index
activity included the Conventional Index, which increased from 617.0 the previous week to 917.7 and the Government Index, which increased from 252.6
the previous week to 323.0.
Refinancing activity represented 64.1 percent of total applications,
increasing from 54.6 the previous week. ARM activity increased from 10.9
percent the previous week to 12.6 percent.
The average contract interest rate for 30-year fixed rate mortgages was
7.04 percent, increasing from the previous week's rate of 6.79 percent,
with points decreasing from 1.28 the previous week to 1.25 (including the
origination fee) for 80 percent loan-to-value (LTV) ratio loans;
-------------------------
Beige Book released
Check out the current info for your district from "The Summary of
Commentary on Current Economic Conditions by Federal Reserve District, commonly known as the "Beige Book," published eight times each year. The
current issue is dated January 17.
Each Federal Reserve District Bank conducts a survey of current economic conditions by interviewing a sample of businesses representing the primary
industries in their district. The results are summarized by district and industry.
Anybody know why this is called the "Beige Book"??
http://www.kc.frb.org/publicat/beigebk/bbkmain.htm
----------------------------
Colliers says No Signs of Recession in Top US Real Estate Markets
Per a Jan. 17 Colliers International press release, "Despite the recent
reports of an impending recession, top real estate markets in the US
continue to post strong growth. While there has been substantial building
in many major US markets, particularly in the suburban areas, absorption
has been strong enough to keep up with the new supply being delivered to the market."
The press release has some very interesting stats on major metropolitan
markets including vacancy, absorption, and rents, as of December.
To read it, go to http://www.prnewswire.com
and search for Colliers. I couldn't find the full press release on the Colliers web site.
----------------------
GAO's annual report on HUD issued
To read the General Office of Accounting's annual report on HUD, "Major
Management Challenges and Program Risks", go to
http://www.gao.gov/pas/2001/d01248.pdf
It is in PDF format
To read HUD's Inspector General report semi-annual report, dated Sept. 30, go to
http://www.hud.gov/oig/sar44.pdf
Both were critical of HUDs management of FHA fraud problems.
Note for AOL users: these direct PDF links may be very slow, or just not
work in AOL. Try cutting and pasting them into your browser and erasing the last part of the link, after the forward slash, then searching for the
document.
---------------------------
Biz tip - handling client "problems"
The person who says "The customer is always right" has never had to deal directly with customers (clients). Clients are not always right, but they
are always our clients. Without clients, you can't have an appraisal firm. To have a successful appraisal business, you must be able to successfully
handle difficult clients and client complaints.
My article, "The Customer Is Not Always Right!," has some tips on defusing angry callers.
To read it, go to http://www.appraisaltoday.com/customers.htm
1/10/01 ASB news/humor/links
New this week from Appraisal Today e-news
+ ASB news - Q&As, USPAP 2001, Confidentiality
+ A little humor
+ A few good links
>>> ASB NEWS - Q&AS, USPAP 2001, CONFIDENTIALITY <<<
Here are the questions from the December Q&As: 1. What is that "Privacy
Notice" in the 2001 edition of USPAP about, and how am I to figure out what
to do in response to the law and regulation it references? 2. I've been
told I have to have a complete legal description for the subject property
of every appraisal I perform. Is this required by USPAP?
Go to https://www.appraisalfoundation.org/asb-q&a.htm
for the answers!
In response to concerns about federal privacy regulations, the ASB issued a Concept Paper on "Confidentiality as it relates to USPAP." Per the ASB,
"This concept paper is for the explicit purpose of gathering information from the public regarding the above issue. This is not an exposure draft."
The deadline for written comments is January 31, 2001. Oral comments were received by the ASB at its January 9, 2001 public meeting in Orlando, FL.
To download and read the Concept Paper, go to
https://www.appraisalfoundation.org/asbconceptpaper12-19-00.pdf
Sorry, USPAP 2001 had not been posted at by Tuesday, Jan. 9, at 3PM PST!
The paper version, plus the annual compilation of Q&As, is available. Info
is at https://www.appraisalfoundation.org
>>>>>>>>>>>>> A LITTLE HUMOR <<<<<<<<<<<<<
For a humorous appraisal story involving an indoor "swimming pool" go to
http://www.marshallswift.com/enews/enews_010401.html
>>>>>>>>>>>>> A FEW GOOD LINKS <<<<<<<<<<<<<
For another good census site that is very easy to use, go to
http://govinfo.kerr.orst.edu/index.html
Thanks to Joe Milkes, MAI for
posting this link on the AI email forum!
List of OTC 2000 Bulletins at http://www.occ.treas.gov/bullst00.htm
including notifying banks about the new Statement 10 in USPAP, "Assignments for Use by a Federally Insured Depository Institution in a Federally
Related Transaction." in the 12/26/2000 "Statement on Appraisal Standards for Federally Related Transaction OCC 2000-33" Thanks to BJ Crowley for
posting this list on the AI email forum! A
More articles on the long-running flipping investigation in Minneapolis
were published January 2. Go to http://www.startribune.com
and search for "property flipping." Thanks to Monte Dammarell, Appraisal Mgr, Loss
Mitigation/Risk Management, for this link!
1/17/01 Refi mania, linx, pressure
A few good links
A brief summary of USPAP 2001 changes - http://www.naifa.com/uspap.html
HUD lender termination list http://www.hud.gov/fha/sfh/lender/lendterm.html
Easy to use map site at
http://www.epa.gov/enviro/index_java.html
Thanks to Holger F. Sternberg for this great link!
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URL (webpage) with a built in order form. The service is fast, free, and very easy to use for those ordering appraisals.
Here's what a lender says:
"We switched from our old print, copy, fax method of sending appraisals in favor of free appraisal
ordering at AppraisalOrder.Com" stated Ms. Jane Phillips, Vice President of Jefferson State Bank.
"The old method of ordering appraisals was just too slow and cumbersome. Now when we need an
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getting the automatic confirmation that the order was delivered."
For more information, go to http://www.appraisalorder.com
or call (210)
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+++++++++++++++++++++++++++++++++++++++++
Looking for info on wrongful lawsuits against appraisers
Barry J. Alperin, MAI, ASA is looking for information regarding counter
suits for defamation of character, loss of income, loss of income
potential, wrongful suit, malicious litigation, damages and the like by
appraisers.
Contact him at:
Barry J. Alperin, MAI & ASA
(909) 595-0140
mailto:Barry-Alperin@MSN.com
-----------------------
Refi mania has hit - apps up 61.5%
Well... the calls from mortgage companies I have never heard up has really picked up. But... few are asking for "comp checks" before (trying) to place
the order. I guess they are really getting desperate!! My advice for out of the area mortgage companies - get paid up front by the borrower or check
out the company before extending credit. Try the deabeat list at http://www.appraisersforum.com
and search the current postings and archives for info on the company, or post a message asking for feedback.
Check out my article on collections at
http://www.appraisaltoday.com/collecti.htm
for some tips on extending credit.
The market composite index of mortgage loan applications—a measure of loan purchases and refinances—for the week ending Jan. 4 increased 61.1 percent
to 480.5 on a seasonally adjusted basis from a revised level of 298.3 the previous week, according to the Weekly Mortgage Applications Survey of the
Mortgage Bankers Association of America (MBA), which was released today. On an unadjusted basis, the application index increased 68.3 percent, and was
up 52.5 percent compared to the same week a year earlier. The MBA seasonally adjusted Purchase Index increased from a revised level
of 218.7 the previous week to 292.8; the seasonally adjusted Refinance
Index increased from a revised level of 761.5 the previous week to 1572.1.
Other seasonally adjusted index activity included the Conventional Index,
which increased from a revised level of 380.2 the previous week to 617.0
and the Government Index, which increased from a revised level of 161.6 the previous week to 252.6.
Refinancing activity represented 54.6 percent of total applications,
increasing from 44.2 the previous week. ARM activity decreased from 14.0 percent the previous week to 10.9 percent.
The average contract interest rate for 30-year fixed rate mortgages was
6.79 percent, decreasing from the previous week's rate of 7.07 percent,
with points increasing from 1.12 the previous week to 1.28 (including the
origination fee) for 80 percent loan-to-value (LTV) ratio loans;
--------------------------------
The Best Marketing Tip
THE VERY BEST TIME YOU WILL EVER HAVE TO MARKET YOUR APPRAISAL SERVICES IS WHEN EVERYONE IS REALLY BUSY. Many of those good prospects and former
clients will be ready to give you work.
For lots more tips, go to the list of articles on my Marketing page at
http://www.appraisaltoday.com/marketing.htm
My 59 Marketing tips article has something for everyone!!
-------------------------
Appraisers concerns picking up steam
Seems like appraisers' protest over lender pressure is picking up steam.
- The online petition to the ASC at
http://www.appraisersforum.com/petition
/ is up to 1,787 signatures as of
Sunday at 8PM PST.
- NAIFA has a link to the petition at http://www.naifa.com
- The ASA is supporting the petition and L. Deane Wilson, ASA, the Chair of the Real Property Committee, is "asking that any and all appraisers that
have been faxed orders that demand a required value, or any other evidence of lender pressure on appraisers to be sent to the facsimile number shown
below. If you, or any of your subscribers, have any such evidence or know of anyone who does, we would greatly appreciate the opportunity to obtain
copies, or at the very least speak with any appraisers who have such evidence."
Fax the documents to:
American Society of Appraisers
Attention Ted Baker
(703) 742-8471
The ASA also sent a letter to the ASC. You can read it at
http://www.appraisersforum.com/messages/10051.shtml
- The Appraisal Institute sent a letter to "members and the
chairmen of the House and Senate Banking Committees, ....
(that) called for congressional hearings on the lending community's ability
to unduly influence the independent judgment of a professional real estate appraiser." per a January 12 press release. To read the press release, go
to http://www.prnewswire.com/ and search for Appraisal Institute.
Ann O'Rourke, MBA, SRPA, SRA
Appraiser and Publisher of Appraisal Today newsletter
2015 Clement Ave.
Alameda, CA 94501
mailto:ann@appraisaltoday.com
phone: 800-839-0227//fax: 800-839-0014
http://www.appraisaltoday.com for appraisal news, info, and a few jokes!
1/4/2001 Info overload/identity theft
New this week from Appraisal Today e-news
+ Info overload
+ A few good links
+ Tech future??
+ Appraiser influence article
+ Appraiser identity theft
>>>>>>>>>>>>> INFO OVERLOAD <<<<<<<<<<<<<
Does it seem like you're getting overwhelmed with information. Well...
there's a reason... According to researchers at UC Berkeley, the world's
total yearly production of print, film, optical, and magnetic content would
require roughly 1.5 billion gigabytes of storage. This is the equivalent of
250 megabytes per person for each man, woman, and child on earth.
For info on the study, go to http://www.sims.berkeley.edu/how-much-info/
Well... this email is only 5-6k ... not too much added to your 250MB annual
share!!
>>>>>>>>>>>>> A FEW GOOD LINKS <<<<<<<<<<<<<
Two good ones from Michael Cartwright (out of the many he posted in the
past week on the AI email forum)
September, 2000 VA Lender's Handbook
http://www.homeloans.va.gov/handbook.htm
Seems like HUD has been through default problems before - "The Devil's in
the Details, An Analysis of Federal Housing Administration Default
Concentration and Lender Performance in 20 U.S. Cities," October, 1997
http://www.ntic-us.org/devils/devils.html
Posted on the AI Forum mailing list by "aap" Release dates for Census 2000
data http://www.census.gov/population/www/censusdata/c2kproducts.html
>>>>>>>>>>>>> TECH FUTURE?? <<<<<<<<<<<<<
Three tech trends for 2001... maybe!!
http://cgi.zdnet.com/slink?/adeskb/adt1228/2668620:749925
Distributed computing, SETI, and Wall Street
http://cgi.zdnet.com/slink?/adeskb/adt1227/2667710:749925
Jealous of all the other appraisers with fast Internet access? Get info on
your options (DSL, cable, satellite) at
http://www.zdnet.com/anchordesk/stories/story/0,10738,2667721,00.html
>>>>>>>>>>>>> APPRAISER INFLUENCE ARTICLE <<<<<<<<<<<<<
Another article on lenders pushing appraisers from the Benton County
(Arkansas) Daily Record, "Influenced appraisals have significant
implications for home buyers and taxpayers"
Read it at http://nwanews.com/dailyrecord/news/drappraisals-realestate.html
Thanks to Terrel Shields for posting this link on a chat board at
http://www.naifa.com
>>>>>>>>>>>>> APPRAISER IDENTITY THEFT <<<<<<<<<<<<<
Check out the interesting thread on an appraiser's name being used on
appraisals he never did at
http://www.naifa.com/chat/hud/index.cgi?read=4567
Check out some of the other interesting threads on the chat boards at
www.naifa.com . General, HUD, and USPAP are the most active boards.
=======================
I now have online ordering of my newsletter, books, tapes, etc. Go to
http://www.appraisaltoday.com/orderfrm.htm
=======================
Ann O'Rourke, sometimes overloaded with info!!
Appraiser and Publisher of Appraisal Today newsletter
2015 Clement Ave., Alameda, CA 94501
mailto:ann@appraisaltoday.com
phone: 800-839-0227//fax: 800-839-0014
http://www.appraisaltoday.com for appraisal news, info, and a few jokes!
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