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Most recent emails
Old email archives - 2/2000
To get the very latest news,
sign up for our FREE weekly Appraisal Today e-news.
NOTE: some of the older links
may be out of date! For older emails go to the
links above.
For information on sponsoring
these weekly emails (sent to over 30,000 appraisers), contact Ann O'Rourke at ann@appraisaltoday.com
or call 800-839-0227.
Search for a topic using your browser's search function.
Go to Edit, then Find in Page. Some of them have been edited from the
original to correct typos and new information! I have been sending them since June, 1994.
2/24/2000 - Site down-up/USPAP 2001/old appraisers
New this week from Appraisal Today e-news
+ Web site down/up
+ Fraud in NY and MN
+ The Continuing Search For The Oldest Appraisal Firm
+ Proposed USPAP changes for 2001-reviewing etc.
+ 800 numbers for research
+ New this month in Appraisal Today "paper" newsletter
+ Originations up and down/Rates to go up
===============================
>>>>>>>>>>>>> WEB SITE DOWN/UP <<<<<<<<<<<<<
If you got my Friday email, you already know that www.appraisaltoday.com
went down around noon last Thursday, California time. Someone at my ISP,
Verio, moved it to another server but Internic was not notified of the new
IP address. (They keep the master records on who is where.) Verio is a
large, national ISP that purchased my local ISP several years ago. I have
never had any web site problems since I set it up in January, 1999.
On Sunday, you could get to the site, but it was password protected,
probably by the person who moved my site. I didn't know the password. On
Monday, the password protection was removed and my IP address was showing instead of www.appraisaltoday.com when you accessed the site. Of course,
some of my files are missing, such as perl scripts and log files... Today, browsers show my IP address instead of www.appraisaltoday.com - maybe
someday it will all be straighten out!
I never realized how much I use my own web site until it went down! For
example, I wanted to see if an appraiser was on the FHA panel, but didn't
have the link....
The IP address is the unique numerical identifier which tells your computer
that wwww.appraisaltoday.com can be found at 209.238.188.215. Whoever
designed the system was a genius!!
I didn't get very many emails about the site problems as my "regulars" were
notified on Friday that my site was down. Any new people didn't send me an
email, of course, as my email address was on my web site!!
Fortunately my email still worked as the STMP server ID did not depend on
my domain name IP address. (My email is on a completely different server in another part of the country.)
To find out who owns a web site and how to contact them, go to
www.networksolutions.com
and click on Whois at the top of the page.
e-appraiser sends out this email on Wednesdays to their own email list and
my "in-house" list. To get late breaking news, etc. sign up for my
"in-house" email list by going to http://www.appraisaltoday.com or sending
email to mailto:info@appraisaltoday.com
>>>>>>>>>>>>> FRAUD IN NY, MD, AND MN <<<<<<<<<<<<<
Sorry, no time this week to check out these fraud stories... but here are
the links. Thanks to all those who offered advice on my MAI comp exam - I
am taking it next Monday and Tuesday. I am cramming very hard full time ...
got my newsletter to the printer early Monday and not doing any appraisal
work and am afraid I will run out of time. My fingers are getting callouses
from punching my HP 12C....
Fraud in Rochester, NY -
http://www.rochesternews.com/0213fbi.html
Fraud in Minneapolis, MD
http://www.startribune.com/ and search for Podany
Lawsuit settled in Baltimore, MD
http://www.sunspot.net/ and search for flipping.
>>>>>>>> THE SEARCH FOR THE OLDEST APPRAISAL FIRM <<<<<<<
If your appraisal firm started after 1900, it's not the oldest!! Thanks to
all those who responded to my request for the oldest appraisal companies.
Here are a few:
- Elam & Funsten, which was founded in 1868 - Virginia
- Dargan, Whitington & Maddox was founded as the Cliff Hatcher Insurance
Agency in Atlanta in 1892. They did appraisals for insurance purposes back
then.
- Martin Appraisals, 1914, Illinois
- American Appraisal in Wisconsin - no date given
- Miner & Silverstein Appraisal Company - 1914 - Connecticut
- Thos. J. Owen & Son, Inc. (Washington D C) was founded by Thomas J. Owen
in 1896
- Compere in Abilene and Arnold in Denver - no dates given
- American Appraisal was started in 1897
- Ludwig Corporation was founded in 1916 in Philadelphia.
- Knox and Company - Iowa - 1888
- Harry L. Schwarz & Co - 1897 - New Jersey
Here's my favorite one -
"My firm is certainly the oldest one in business. I can tell because we
have been and still do operate in the dark ages."
Of course, now I have to write an article for my "paper" newsletter! The
tough part will be deciding the criteria, since the appraisal associations
didn't start until the 1930s.
>>>>>>>>>>>>> PROPOSED USPAP CHANGES <<<<<<<<<<<<<
The ASB is proposing to explicitly prohibit advocacy and remove the
allowance for contingent fees in any assignment under USPAP when doing
appraisal consulting (including valuation with the consulting).
Changes include definitions - appraiser, advocacy, cost, price, value,
valuation services, and appraisal consulting.
Returning the standard lender definition of market value in the definitions
section is proposed.
For most of us, the most significant proposal is a new proposed Advisory
Opinion, "An Appraisal within a Real Property or Personal Property
Appraisal Review Assignment," including specific advice on when a review
turns into an appraisal when the reviewer develops his or her own opinion
of value.
Comments must be submitted by March 31, 2000, for the April 11 ASB meeting.
To get a copy of the proposed changes, contact the Appraisal Institute at
202-347-7722, or go to www.appraisalfoundation.org
and click on
Exposure Drafts. The document is worth reading and commenting on if these
issues are important to you.
>>>>>>>>>>>>> 800 NUMBERS FOR RESEARCH <<<<<<<<<<<<<
I have been working on a retrospective appraisal back to 1992 on a duplex
that was sold in early 1999, It was fixed up prior to the sale and
extensively rehabbed after the sale. The seller has Alzheimer's and didn't
remember the details of the rehab although she had lots of info on the
original purchase in 1972.
I finally got the phone number of a relative who had worked on the pre-sale
rehab. I left several messages and finally he returned my phone call a week
later. He immediately asked me to call him back. Why? He didn't want to pay for a long distance phone call. Duh..... Why didn't I think of using my 800
number or calling me collect years ago??
>>>> NEW THIS MONTH IN APPRAISAL TODAY "PAPER" NEWSLETTER <<<
- Writings on digital photography - reviews of books and magazines
- Commercial AVM available - review of Comps.com's new AVM
- Disability - your greatest risk
- Limiting conditions and assumptions (humor)
- Key features of USPAP 2000 and proposed changes for 2001 (2 page article)
- Old clients - an excellent source of new business
- The future of residential appraising
- The future of commercial appraising
- Res and commercial lending news
To order the newsletter ($99 for one year - $149 for two years) by credit
card, or request a sample issue call 800-839-0227. For an order form, go to
http://www.appraisaltoday.com/orderfrm.htm
. For info, go to
http://www.appraisaltoday.com/amm.htm
.
>>>>>>>>>>>>> ORIGINATIONS UP AND DOWN/RATES UP <<<<<<<<<<<<<
For the week ending 2/11/2000, per the Mortgage Bankers Association (MBA), overall res. loan origination volume was down 8.6% from one week ago, up
13.4% from 4 weeks ago, and down 28.4% from the same week a year ago. Refis were down 14.6% from a week ago, down 4.5% from 4 weeks ago, and down 73.4%
from a year ago. Purchases were down 7.2% from a week ago, up 18.4% from 4 weeks ago, and up 15.2% from a year ago.
Federal Reserve Chairman Alan Greenspan made clear last Thursday that the Fed intends to raise short-term interest rates in coming months to cool
U.S. economic growth.
Plan for less lender work in 2000. For info on my marketing books and tapes
and some free marketing articles, go to
http://www.appraisaltoday.com/marketing.htm
. I have lots and lots of ideas
- something for everyone! To get a brochure on my marketing books, call
800-839-0227, fax 800-839-0014, or send email to mailto:info@appraisaltoday.com
.
Marketing tip: if you do any marketing at all, you're way ahead of most
appraisers who are just waiting for the phone or fax to ring!
2/16/99 - Oldest appraisal firm/Directories/Fun
New this week from Appraisal Today e-news
+ January ASB Q&As
+ Appraiser directories
+ Loan apps up/Rates up
+ Just For Fun
+ The Four Myths of Online Security
+ The Oldest Appraisal Firm
+ MAI Comp exam advice
*************SPONSOR**********************
Special E-appraiser subscriber offer-75% off the Account Establishment Fee
(up to $150). DataQuick Property Pro CD from Acxiom is the ultimate real
property solution for appraisers. Get accurate, detailed property profiles,
sales comps, plat maps and more. Increase productivity, save time, and save
money! Go to http://www.dataquick.com/propertypro4
and save!
******************************************
>>>>>>>>>>>>> JANUARY ASB Q&AS <<<<<<<<<<<<<
The topics in the January's Q&As from the Appraisal Standards Board are:
- Updates
- Changes in Standard 3 (reviewing)
- Apartment personal property
The Q&As are worth reading. They are available at
https://www.appraisalfoundation.org/2000-1qa.htm
. A copy of the Q&As will
be included with the March issue of the "paper" newsletter.
>>>>>>>>>>>>> APPRAISER DIRECTORIES <<<<<<<<<<<<<
Now that residential lender appraisal business has slowed down, and is not
predicted to pick up soon, appraisers are looking for some marketing
options.
Why not take a few hours and get your firm listed in the free appraiser
directories? Most have both free and a fee-based listings and allow you to
put information in your free listing.
Which paid listings, if any, to purchase is a difficult decision for many
appraisers as they don't do any advertising. One way to look at it is the
cost per appraisal, the same as for any other type of advertising, such as
Yellow Pages. If you pay $99 per year and get 2 assignments at $300 each,
that is much better than doing AMC work for a 60% fee.
For a list of directories and an article I wrote on evaluating directories,
go to http://www.appraisaltoday.com/directories.htm
For some marketing tips and books, go to
http://www.appraisaltoday.com/marketing.htm
. To get a brochure on my
marketing books, call 800-839-0227, fax 800-839-0014, or send email to
mailto: info@appraisaltoday.com.
>>>>>>>>>>>>> LOAN APPS UP/RATES UP <<<<<<<<<<<<<
For the week ending 2/4/2000, per the Mortgage Bankers Association (MBA), overall res. loan origination volume was up 12.1% from one week ago, up
47.4% from 4 weeks ago, and down 29.3% from the same week a year ago. Government (FHA and VA) was up 4.9% from a week ago, up 74% from 4 weeks
go, and down 11.2% from a year ago.
The national average commitment rate on 30-year, fixed-rate mortgages rose
to 8.36 percent last week, their highest level since reaching 8.42 percent
in July 1996, according to Freddie Mac.
Why are both apps and rates up? "Fence sitters" are getting loans, as rates
are predicted to increase even more.
FYI, B/C declines are much less. More details on which lenders are doing
well and which are not, in the "paper" newsletter. For subscription info,
see the end of this newsletter.
>>>>>>>>>>>>> JUST FOR FUN <<<<<<<<<<<<<
Need a good laugh? Go to http://www.rinkworks.com/guide/
. No time to read or go to the movies? Check out Book-A-Minute, Movie-A-Minute, and Computer
Stupidities. There's something for everyone on this site!
>>>>>>>>>>>>> THE FOUR MYTHS OF ONLINE SECURITY <<<<<<<<<<<<< Another great
column by Fred Langa.
Myth #1 - I'm not on a network, so my PC is safe.
Myth #2 - I just use dial-up connections, so my PC is safe.
Myth #3 - I use an anti-virus app, so my PC is safe.
Myth #4 - I use a firewall, so my PC is safe.
To read the Feb. 14 column, go to
http://www.winmag.com/columns/explorer/2000/04.htm
>>>>>>>>>>>>> THE OLDEST APPRAISAL FIRM <<<<<<<<<<<<<
I just finished writing an article for my "paid" newsletter on Bliss
Associates in Kansas City, which had been in continuous operation since
1933. (It was purchased by Primis last month.).
Bliss Associates was founded in 1933 by George Bliss. His son, Curtis
Bliss, took over in 1966.
Do you know of any other firms that are this old or older? Send me an email
at mailto:ann@appraisaltoday.com
.
More details on what Primis is looking for, both firms to purchase and fee
appraisers, in the "paper" newsletter. For subscription info, see the end
of this newsletter.
>>>>>>>>>>>>> MAI COMP EXAM ADVICE <<<<<<<<<<<<<
I will be taking the MAI Comprehensive exam on February 28&29 (my final
requirement for the MAI). If you have taken the 2 day exam and have some
tips, I could really use them.
I just took Whitmer's exam prep course, but am still very unclear on
preparing for the Sales Comparison module.
Why am I finally taking the exam after all these years? What about all the
other appraisers in the exam prep class with gray hair who hadn't taken a
class for over 10 years and whose HP12Cs were covered with dust? Why didn't I take the exam when it was only one day with a high pass rate? Let's Not
Go There!!!
===============================
You are free to send this email to anyone you want. However, if you want to
put it into a newsletter, other printed material, or on your web site,
**please contact me** as there may be new information or typos!! The email
archives are at http://www.appraisaltoday.com/email1.htm if you missed an
email or can't find one. I updated it this weekend.
--------------------------------------
To advertise in my subscription "paper" newsletter or on
http://www.appraisaltoday.htm send email to mailto:ann@appraisaltoday.com .
For info go to http://www.appraisaltoday.com/advert.htm Or call
800-839-0227. -------------------------------------
This email just has brief information on topics. To get the "full story,"
subscribe to my monthly "paper" Appraisal Today newsletter for $99 per year
($149 for 2 years), call or fax the numbers below (credit card orders) or
send your check to the address below. For an order form, go to
http://www.appraisaltoday.com/orderfrm.htm . For more information on the
newsletter or to order a sample issue, go to
http://www.appraisaltoday.com/amm.htm or use the Appraisal Today phone/fax
numbers at the end of this email.
2/8/2000 - Comml AVM/apps up/No check
New this week from Appraisal Today e-news
+ The check is NOT in the mail!
+ Loan apps up
+ Commercial links
+ Comps.com's AVM available online
+ Just For CA appraisers
+ MSA/Census tract numbers
+ A few good Win98 tips
+ Client ratings
*************SPONSOR**********************
Special E-appraiser subscriber offer-75% off the Account Establishment Fee
(up to $150). DataQuick Property Pro CD from Acxiom is the ultimate real
property solution for appraisers. Get accurate, detailed property profiles,
sales comps, plat maps and more. Increase productivity, save time, and save
money! Click and save! Go to http://www.dataquick.com/propertypro4
for
more!
******************************************
>>>>>>>>>>>>> THE CHECK IS NOT IN THE MAIL! <<<<<<<<<<<<<
Over the past 13 years, I have had under $2,000 in uncollected billings.
Here's some of my tips -
Often, you're the reason why you have collection problems. You don't:
1. Have a clearly communicated credit policy. You allow everyone to be
billed, no matter who they are.
2. Monitor your accounts receivable. You don't keep up on your client's
business, assuming they are still making money and paying their bills.
3. Follow up on past due billings, letting them slide until they are months
past due.
For more tips, read my article, "Collections - the squeaky wheel gets the
grease!" at http://www.appraisaltoday.com/collecti.htm
FYI, I am very, very picky about extending credit. I would rather Just Say
No. I can't stand working for free!!
>>>>>>>>>>>>> LOAN APPS UP <<<<<<<<<<<<<
For the week ending 1/28/2000, per the Mortgage Bankers Association (MBA),
overall res. loan origination volume was up 17.5% from one week ago, up 64%
from 4 weeks ago, and down 39.1% from the same week a year ago. Government
(FHA and VA) was up 10.4% from a week ago, up 112.5% from 4 weeks ago, and
down 24.6% from a year ago.
Per Freddie Mac, the national average commitment rate for a 30-year
fixed-rate mortgage hovered around 8.25 percent last week.
For stats going back to 1990 and a graph, go
http://www.appraisaltoday.com/mbastats.htm
The stats are released on Wednesday, after this email is sent out. To get
them on Friday, two days after they are released, sign up for my Friday
Newsletter at http://www.appraisaltoday.com . The link is on the top of all
the pages on my web site - Free Weekly Email Newsletter. Or, send email to
mailto:info@appraisaltoday.com and request to be put on the list. We need
your "real name" and your email address. Some of the stats are also
available at http://www.mbaa.org .
>>>>>>>>>>>>> COMMERCIAL LINKS <<<<<<<<<<<<<
Comml. Tidbits From Friday's email -
Shopping center database online. From Pikenet (www.pikenet.com ) -
http://www.nrbonline.com/ Some free info for Guests. For more info go to
www.pikenet.com/cgi-bin/webc/go.webc?to=question154 .
----------------------------
Lodging company stock prices saw noticeable slips in value in 1998 and
1999, and the industry has continued to look unappealing to investors. But
with gradually improving fundamentals and valuations at low levels, now may
be the time for investors to take advantage of select opportunities,
according to Michael Mueller, senior lodging analyst for Bank of America
Securities. Full story: http://www.inman.com/hstory.asp?ID=17393&CatType=C
------------
Checkout http://www.storetrax.com / - a retail listing service. Per their
web site, "Currently Storetrax.com lists retail properties in over 25
states, with hundreds of millions of square feet." There weren't any
listings here in the San Francisco Bay Area, so I couldn't check it out.
------------------------
Check out http://www.underwritersToolbox.com/ . Some CMBS underwriter
rating templates and checklists plus links to CPI, PPI, historical prime
rate, etc. Matthew Walsh runs the web site. He has a commercial
banking/real estate background, starting in 1980, who currently does on
CMBS B-buyer due diligence on a contract basis.
>>>>>>>>>>>>> COMPS.COM'S AVM AVAILABLE ONLINE <<<<<<<<<<<<<
You can finally "test drive" Comps.com's new AVM product for FREE. Go to
http://www.comps.com . The link is on the home page. Try out a property you
have appraised or some comps - industrial or multifamily. Registration is
required, but well worth it. I am testing it now. More info in the "paper"
Appraisal Today newsletter, of course. Check out the recording of last
week's chat with Vern Martin, the developer of the AVM. Go to
http://www.e-appraiser.net and click on Guest Speakers.
>>>>>>>>>>>>> FOR CA APPRAISERS <<<<<<<<<<<<<
Need public records data? Go to http://www.datatree.com
.
-------------------
Check out school ratings at http://www.cde.ca.gov/psaa/
.
>>>>>>>>>>>>> MSA/CENSUS TRACT NUMBERS <<<<<<<<<<<<<
To get MSAs and Census tract numbers, go to http://www.ffiec.gov/geocode/
and type in the address.
>>>>>>>>>>>>> A FEW GOOD WIN98 TIPS <<<<<<<<<<<<<
For some good tips on how to cancel autostart apps (I really need that
tip!), customize your toolbar, and a three other tips, go to
http://cgi.zdnet.com/slink?/adeska/adt0204ba/4425:749925
>>>>>>>>>>>>> CLIENT RATINGS <<<<<<<<<<<<<
Ever tempted to say "Yes" to an AMC or someone who calls you that you never
heard of? Here's an interesting rating method posted on the Internet:
Rating
**** Standard (Comparable to local market lenders)
*** Usual volume consideration, competitive edge recommended (EDI savings)
** More than competitive edge. When you can get to it, filler, mentor
meat
* Refer across town to whoever is on your short list
Thanks to the appraiser who posted this. Sorry, I lost his/her name!
Ann O'Rourke, MBA, SRPA, SRA, PDQ
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!
*******************************************
Sponsoring this email will expose your business to over 30,000 appraisers.
For more information, send email to jtrice@alterragroup.com
2/2/2000 - IRS/FHA roster/client trap
New this week from Appraisal Today e-news
+ Who's on the FHA Roster?
+ Duplicate emails etc.
+ New this month in Appraisal Today
+ Edgar/Primis tips
+ Free appraisal newsletter available How to get info
+ Res vs Comml Fraud
+ IRS and appraisals -finally a few changes
+ The Trap of One Big Client
**********SPONSOR**********
Need a one-stop appraisal solution? DataQuick Property Pro CD from Acxiom
is your answer! This easy-to-use real property information tool enables you
to look up the latest property, obtain comparables and detailed plat
maps-without sacrificing accuracy or power. Go to
http://www.dataquick.com/propertypro2/
and get 75% off Account
Establishment Fee!
***************************
>>>>>>>>>>>>> WHO'S ON THE FHA ROSTER? <<<<<<<<<<<<<
Check out the current FHA roster at
https://entp.hud.gov/idapp/html/apprlook.cfm
. I had thought lots of the
appraisers where I am would not renew as we have little FHA work (avg.
Sales price of $325,000) but most of them renewed! Log on and check your
status and other appraisers in your area.
>>>>>>>>>>>>> DUPLICATE EMAILS ETC. <<<<<<<<<<<<<
This email is sent out by e-appraiser at www.e-appraiser.net . My only
connection with e-appraiser is that they send out my Wednesday email and
handle the advertising. So... please don't ask me about how to change your
e-appraiser directory listing!
E-appraiser uses an automated mailing program. If you are getting
duplicates of this email, it is because e-appraiser has two of your email
addresses. Decide which email address you want to use. Then open email sent
to the email address you don't want to use and follow the directions at the
end of that email to unsubscribe.
---------------------------------
I also send a "duplicate" email on Friday for those who don't get the
Wednesday email because their ISP thinks it is spam or there are wrapping
problems. It used to be an exact duplicate, but now, of course, I have to
add some new stuff, which I put at the beginning of the email.
For example, last week I sent out the new Primis link on Friday to my
"internal" email list. If you want to subscribe to the Friday newsletter,
send email to mailto:info@appraisaltoday.com
asking to be put on the email
list. Or, go to http://www.appraisaltoday.com
I need a name as well as an
email address to track your subscription.
>>>>>>>>>>>>> NEW THIS MONTH IN APPRAISAL TODAY <<<<<<<<<<<<<
The February issue of the Appraisal Today "paper" newsletter articles:
- How to get more business using client centered marketing
- Appraising residential properties (book reviews)
- Review of comps.com's new Spectrum program
- Mortgage fraud watch
- Details on the Norwest/Value IT lawsuit
- Details on the Primis IPO, including what they paid for the companies
they purchased - Tips on where to get health insurance
- Lots of news topics
This email just has brief information on topics. To get the "full story,"
subscribe to my monthly "paper" Appraisal Today newsletter for $99 per year
($149 for 2 years), call or fax the numbers below (credit card orders) or
send your check to the address below. For an order form, go to
http://www.appraisaltoday.com/orderfrm.htm
. For more information on the
newsletter or to order a sample issue, go to
http://www.appraisaltoday.com/amm.htm
or use the Appraisal Today phone/fax
numbers at the end of this email.
>>>>>>>>>>>>> EDGAR/PRIMIS TIPS <<<<<<<<<<<<<
Last week, Primis' IPO S-1 statement wasn't on the regular EDGAR database,
so I didn't send the link. To read the 200+ page filing, go to the SEC's
Edgar database at http://www.sec.gov/cgi-bin/srch-edgar
and type Primis in
the search box.
For those who want to know what the revenues were for companies Primis
purchased (only the purchase prices are on the S-1 filing) you can get the
number of appraisers and "guesstimate" annual billings. Appraisal firms are
typically sold on a multiple of Gross revenues. Info on most of Primis'
recent purchases can be found by going to http://www.prnewswire.com
and
searching for Primis or Premier, their former name.
For more info on figuring out what appraisal firms are worth, go to an
article I wrote at http://www.appraisaltoday.com/selling.htm
.
FYI, Primis just announced the purchase of Bliss Associates. Founded in
1933, Bliss Associates is one of the oldest appraisal firms in continuous
operation in the United States. The acquisition is Primis' first in
Missouri, and complements its existing Midwest market coverage in Ohio and
Michigan. The purchase price is in their S-1 statement.
>>>>>>>>>>>>> FREE APPRAISAL NEWSLETTER AVAILABLE <<<<<<<<<<<<< Steven
Traub's Winter 1999-2000 Issue of "Property Valuation Monitor" (PVM) is out
on the Web, and it's free.
In it you will find: * An Objective Review of "Appraising Partial
Interests" published by the Appraisal Institute. * Commercial Property
Mortgage Rate Information * What's In & Out with USPAP 2000 * Commercial
Property Vacancy Rates (Northeast only) * And Other Stuff Too
Published every quarter, PVM is free and can be found on the Web at
http://www.shore.net/~straub/pvm.htm
. It is also available by email.
>>>>>>>>>>>>> HOW TO GET INFO <<<<<<<<<<<<<
I regularly receive emails and phone calls from appraisers asking specific
questions such as "What do you think about XXX forms software" or "What do
I do about XXX client as I they owe me lots of money" or "What about XXX
digital camera?" Sometimes I can answer their questions, sometimes not.
One really good way to get some help is by using appraiser chat boards and
email discussion lists. For a list of them, go to
http://www.appraisaltoday.com/appr__online.htm
I also get asked about where to get products, such as forms software and
E&O insurance. I tell callers to go to my Vendor page at
http://www.appraisaltoday.com/products1.htm
To find info on my 250+-page web site, use Search (looks on each page for
the word) and Site Map, which lists all the pages on the site. Usually, if
you are looking for a general category, such as commercial appraisal links,
the Site Map works best. Both links are on the top of each page.
I also have a Jump menu on the home page, linking to the major categories
on my web site.
Gee... what did I ever do before I set up my web site a year ago? I use it
myself to find information and it really saves me time when trying to help
other appraisers!! I wish I had some competition though as there are few
web sites to send appraisers to if I don't have the info.
>>>>>>>>>>>>> RES VS COMML FRAUD <<<<<<<<<<<<<
Residential fraud is in the news today, but the "bad days" of the S&L
debacle, including appraisals is not that long ago. What's the difference
for appraisers? Hmmm... let me see... $300 for a URAR with a 1-2 day
turnaround vs. $30,000 for a commercial appraisal with a 6-8 week
turnaround
>>>>>>>> IRS AND APPRAISALS -FINALLY A FEW CHANGES <<<<<<<<
On December 3, 1999, the IRS published new guidelines on appraisals.
Per the January issue of the ASA's Newsline, "The "qualifications" criteria
adopted in the final regulation do include the "old" and discredited IRS
definition that "the appraiser is an individual who holds himself or
herself out to the public as an appraiser or performs appraisals on a
regular basis." But, for the first time, the rule also establishes an
objective standard of competency that goes beyond the "holding out"
language. Specifically, it mandates that the individual performing the
appraisal be able to demonstrate Objectively that he or she "is qualified
to make appraisals of the type of property being valued" based on his or
her "background, experience, education and membership, if any, in
professional appraisal associations...."
Of course, there are no references to USPAP anywhere in IRS guidelines...
Maybe someday...
To read the document, go to the Federal Register search page at
http://www.access.gpo.gov/su_docs/aces/aces140.html
. Enter 12/3/99 to
12/3/99 for the date and search for appraisal. Thanks (again) to Michael
Cartwright for this info from the ASA's Newsline January issue. Mine is
still "in the mail"! The ASA has been trying to get the IRS to change their
policies on who can do appraisals.
I have info on the IRS and Appraisals (it is quite a story) at
http://www.appraisaltoday.com/irsasa.htm
.
>>>>>>>>>>>>> THE TRAP OF ONE BIG CLIENT <<<<<<<<<<<<<
I recently received a call from a mid-size appraisal company asking about
"inhouse" lender AMCs, which are a growing trend. Seems like this company
had let one of their clients build up to 60% of their business. Now their
client has their own AMC and wants the appraiser's company to work for less
than their regular fees.
If you allow a client to become more than 30% of your business, that's
okay. Just be prepared for losing that client. A much better choice is to
"Just Say No" when they want to monopolize your time.
I had a local lender who was my biggest client for 13 years, giving me over
half my lender business. A year ago they changed their appraisal ordering
method. Appraisals were ordered by the loan officers, not the appraisal
department. I didn't get any more appraisal work as I had not spent time
marketing to the loan officers. So what did I do? I worked on getting more
nonlender clients from real estate agent referrals and doing more
commercial appraisal work. Did I complain? Well... I did whine a little at
first. Did I anticipate what happened? Yes. No client is permanent. I knew
the risk I was taking.
===============================
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.
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-------------------------------------
Ann O'Rourke, MBA, SRPA, SRA, Grand Poobah
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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