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Most
recent emails
Old email archives - 5/2000
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may be out of date!
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.
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.
5/4/00 e-appraiser purchased/dinosaur email/half full glass
New this week from Appraisal Today e-news
+ Survey results - lots of DSL and cable
+ New links for AOL users
+ Appraisal delivery via the Web
+ E-appraiser purchased by Primis
+ Live chat on buying an appraisal business
+ Valuation 2000 in July
+ Home office computer mag
+ Trainee marketing
+ New commercial appraiser section of Web site
+ Loan apps down
+ The glass is half full, not half empty
*************SPONSOR**********************
Try Appraise-It today, and find out why over 10,000 appraisers trust their
businesses to Appraise-It every day. We promise you will also understand
the benefit of using appraisal forms preparation software that was designed
by a practicing real estate appraiser with over 25 years of experience.
Appraise-It is also compatible with Abobe Acrobat, Lighthouse, e-Relay, and
Fannie Mae MortgageLinks. Just give us a call today and try your FREE DEMO
at 800-523-0872 or download a demonstration copy from www.sfrep.com.
******************************************
>>>>>>>> Survey results - lots of DSL and cable <<<<<<<<
Many thanks to the 300 appraisers who took my web site survey on Internet
access over the past 3 weeks. The results were a surprise! Here are the
numbers: - Dial up access only - 56% - Cable modem - 21% - DSL - 20% - ISDN
- 6% Multiple answers were allowed, thus the total adds up to more than
100%
In a recent computer seminar I offered, almost everyone in the room raised
their hand when asked if they had Internet access.
>>>>>>>>>>>>> NEW LINKS FOR AOL USERS <<<<<<<<<<<<<
About 30% of the readers of these emails use AOL, so I am now including
special links for AOL users so they can just click on a hotlink (blue
color). If you don't use AOL, you will see the HTML coding. It is a bit
annoying, but since so many use AOL I decided it was worth it. Standard
links only show up if sent from other AOL users. This email has relatively
few links, so it is my first one to test the AOL links.
Don't get me going on the pathetic AOL email software!!!!
>>>>>>>>>>>>> APPRAISAL DELIVERY VIA THE WEB <<<<<<<<<<<<<
I'm working on an article on delivery of appraisal reports using the Web,
not email. Also looking at ordering and tracking on the Web. In the most
basic example, I upload an appraisal to my web site, send an email to my
client with the link, and the client downloads it. Lots better than the
dinosaur email delivery method!!
If you are doing this, or know of anyone offering this service, please
email me at mailto:ann@appraisaltoday.com
. You may see your name in
print!!
>>>>>>>>>>>>> E-APPRAISER PURCHASED BY PRIMIS <<<<<<<<<<<<<
This email newsletter is sent out for me by e-appraiser at
http://www.e-appraiser.net .
In early April e-appraiser was purchased by Primis, a national appraisal
company. Joan Trice, the former president of e-appraiser is now Primis' new
Director of e-appraiser Services. The e-appraiser directory will continue
to operate as it is now - a place for clients to find appraisers. More
money will be available for marketing and development.
Full details in the "paper" Appraisal Today newsletter, of course!
>>>>>>> LIVE CHAT ON BUYING AN APPRAISAL BUSINESS <<<<<<
Next Tuesday, May 9th at 8PM, Eastern time, e-appraiser will have as Guest
Speakers in their Chat Room Primis' acquisitions team, Jim Landers and Lisa
Baker. If you might be interested in being acquired or understanding the
business valuation process go to http://www.e-appraiser.net/
Scroll down to
Guest Speakers, click, and follow the directions.
>>>>>>>>>>>>> VALUATION 2000 IN JULY - BE THERE!! <<<<<<<<<<<<< Valuation
2000 is coming July 10-13 in Las Vegas. Appraisal organizations, the ASB,
and AQB are meeting before or after this date. Thousands of appraisers will
be there. Don't miss it!! Deadline for "early bird" registration is May 15
(save $100). Go to http://www.val2000.org
for more info.
Sorry, I don't have any info on parties (let me know and I'll be there!!)
But here are a few of the education sessions: - FHA Appraisal Inspections
From the Ground Up--Practical Advice for Concerned Appraisers - Appraising
Rural Residential Properties - Partial Interests: Theory and Case Law -
The Real Estate Capital Markets: An Update for Valuers (Part 1 of two
sessions) - The Effect of E-Commerce on Real Estate Value
>>>>>>>>>>>>> HOME OFFICE COMPUTER MAG <<<<<<<<<<<<<
Many appraisers work in one-appraiser companies or work at home. An
excellent publication is Home Office Computing. I have subscribed to it
since I started my newsletter in 1992. For info, go to
http://www.hoc.smalloffice.com/
Practical computer and business management articles plus lots of short,
nontechie reviews and tips. The online price is only $14.97 for a year of
monthly issues. Such a deal!!
Here are a few articles in the most recent issue: - Phone answering choices
- PCs, Internet access, phone calls, etc for free - Paper organizing tips
(the paperless office is a pipe dream) - Personal information managers
>>>>>>>>>>>>> TRAINEE MARKETING <<<<<<<<<<<<<
I regularly receive emails from trainee appraisers trying to find work. The
most recent email was from a trainee whose sponsor was low on work. The
trainee asked how he could market himself. Getting work if you are a
trainee is very hard as licensing is designed to have trainees working for
someone else until they are licensed. I advised getting business cards with
his sponsor's name and his name. Anyone can market appraisal services.
However, if you are an appraiser it is a lot easier. The trainee can get
the work and his sponsor can supervise. Seems like a win/win that very few
appraisal firms encourage, even for experienced appraisers, offering them a
higher fee split.
>>>>> NEW COMMERCIAL APPRAISER SECTION OF WEB SITE <<<<<<
This weekend I finally set up a special commercial appraiser section on my
web site at http://www.appraisaltoday.com/commercial.htm
Let me know what you'd like to see on the site! I just put a little bit of
the content up with lots more to come.
FYI, last week I mentioned the new humor I had posted at
http://www.appraisaltoday.com/humor.htm
. That day I had my biggest day
ever on my web site - almost 900 visitors. We all need a good laugh now and
then!!
>>>>>>>>>>>>> LOAN APPS DOWN <<<<<<<<<<<<<
The Mortgage Bankers Association of America (MBA) released its Weekly
Mortgage Application Survey results Wednesday, reporting that mortgage loan
applications for the week ending April 21 increased 0.5 percent from last
week. Compared to the same week last year, loan applications were down 20.2
percent.
To see the history back to 1990, go to
http://www.appraisaltoday.com/mbastats.htm
Warning - may take awhile to
download! AOL Users:
>>>>>>>>>>>>> THE GLASS IS HALF FULL, NOT HALF EMPTY <<<<<<<<<<<<<
I receive lots of forwarded stuff and delete almost all of it, but Rick
Betts sent one I can't forget:
- I am thankful for the teenager who is not doing dishes but is watching
T.V., because that means he is at home and not on the streets.
- For the taxes that I pay, because it means that I am employed.
- For the mess to clean after a party, because it means that I have been
surrounded by friends.
- For the clothes that fit a little too snug, because it means I have
enough to eat.
- For my shadow that watches me work, because it means I am out in the
sunshine.
- For a lawn that needs mowing, windows that need cleaning, and gutters
that need fixing, because it means I have a home.
- For all the complaining I hear about the government, because it means
that we have freedom of speech.
- For the parking spot I find at the far end of the parking lot, because it
means I am capable of walking and that I have been blessed with
transportation.
- For my huge heating bill, because it means I am warm.
- For the lady behind me in church that sings off key, because it means
that I can hear. - For the pile of laundry and ironing, because it means I
have clothes to wear.
- For weariness and aching muscles at the end of the day, because it means
I have been capable of working hard.
- For the alarm that goes off in the early morning hours, because it means
That I am alive.
- And finally....... For too much e-mail, because it means I have friends
who are thinking of me.
:-) - Send this to someone you care about. ;-)
===========================
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.
--------------------------------------
This email just has brief information on topics. To get the "full story,"
subscribe to My monthly "paper" Appraisal Today newsletter has the "full
story."
Ann O'Rourke, MBA, SRPA, SRA,
Surveyor 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!
5/7/00 - 100 year old appraisers/limiting conditions (humor)
- Special email
Something for everyone in this email... a little humor, a little "out
there" view of the present and future of residential appaising.
***************** SPONSOR AD *******************
Which on-line appraiser directory do you trust to market your appraisal
services?
FEEAPPRAISER.COM is the best known appraiser directory in the mortgage
industry and is the only one that GUARANTEES you results.
Feeappraiser.com recently announced strategic alliances with:
eZDesk.com
LendingHut.com
LenderBase.com
LendingIntelligence.com
B4Usellyourhome.com
Domania.com
Transamerica/Intellitech
(more alliances coming)
Get more bang for your buck, get with FEEAPPRAISER.COM!
Click on the link below
http://www.Feeappraiser.com
or Call toll free (888)407-7557
*************************************************
Residential appraising - Wall Street, computer nerds, donuts, and 100 year
old appraisers
This article was written by Frank Lucco, SRA and is really "out there"!
Technology
You had better start sucking up to a nerd or geek. Improve your
relationship with your 13 year-old son or daughter. Allocate considerably
more time on a daily basis to software and hardware issues. The next person
that you hire or outsource will not likely be an appraiser, but instead, a
computer solution provider. You can no longer plan for what's now, you have
to plan for what's next. You are either E or your out. E-Commerce will
change everything. See you at the magazine stand, in the computer magazine
section. Real estate has been categorized for years as an inefficient
market. As it becomes more efficient, it will challenge you personally and
professionally. You start to lose touch with family and friends as your
virtual office leads to isolationism. Thank God you have installed voice
recognition software, otherwise you would surely be suffering from carpal
tunnel syndrome. Can you say AVM?
Securitization
You are still peddling 1004 forms, touting the quality of your work, and
pointing the value at the bottom of the form. Unknown to you is a fact that
the clients have spread out their risk and are no longer as dependent on
your single point estimate. They're much more interested in future
projections of neighborhood performance and current market trends. In
short, you are selling buggy whips and they have the throttle down in a
Ferrari. You're starting to understand the terms of dead, ask, spread,
margin, call, and other Wall Street lingo.
Globalization
No Web page, no E-commerce site, no orders. This is no longer your father's
appraisal business. Ma & Pa are on the outside looking in. Appraisal orders
are being generated from outside your city, county, state. The bottom line
is that your dropping the donuts off at the wrong desk.
Consolidation
Right size, downsized, reengineering, disintermediation, partnering,
alliances, outsourcing, and one stop shopping are familiar lingo in today's
marketplace. Even the biggest companies have determined they can't make it
on their own. At one time considered taboo, even competitors are forming
alliances in order to stay afloat. hat's it telling you when the bank name
on your checkbook changes three times in one year but you never moved your
account? You can probably count your clients on one hand now. Five of the
biggest national homebuilders just went together to place 20,000 new homes
for sale on the Internet. It's one thing for your clients to consolidate,
it's another thing to consolidate your one-appraiser office.
Speed
Remember the days when you could deliver the report when you were ready? I
remember when three of four weeks turnaround time on a single-family
appraisal was okay with our clients. Also, the days when they ordered the
appraisal the same time they took the credit application from the borrower.
There's a reason when a client now calls and indicates everything else is
done except for the appraisal. The reason is simple; they've shifted their
analysis towards risk and away from collateral. Their ordering of an
appraisal is now almost an afterthought. Three or four weeks turned into
the two weeks, turned into one week, turned into five calendar days, turned
into three business days, and the now client visualizes 24 hour turnaround.
Gives you a lot of time to do match paired analysis doesn't it?
Longevity
This is the best trend for you are as real estate appraiser. You are now
working longer hours, delivering faster products, and for cheaper fees. The
good news is that you can make it up on volume! Because of medical advances
and good genetics you will probably able to drag a tape measure around the
house until you're pushing well over a hundred years old.
The bottom line
When the business environment outside your company is changing faster than
the environment inside your company, the end is near.
So stay frosty and our apologies to the meek and the world they shall not
inherit
About the author
Frank J. Lucco, SRA, is the President of Frank J. Lucco & Associates, Inc.,
Real Estate Appraisers, Brokers & Consultants
based in Houston, TX, and a member of the Appraisal Institute's Residential
White Paper Group and is the Houston AI Chapter 2000 President. Contact him
at mailto:frank@franklucco.com . His Web site is
http://www.franklucco.com .
Originally published in his chapter newsletter.
=======================================
Limiting conditions and assumptions (humor)
- The person or persons writing this assumes that they have no idea who
they are, why they wrote it and what it means.
- The person or persons writing this is only liable for the amount of their
fee for writing this.
- The person or persons writing this has no idea about anything structural
and, further, can't even make sawdust.
- The person or persons writing this assumes no responsibility for anything
environmental and, in fact, the person writing this has never driven a car.
- The person or persons writing this assumes no responsibility for anything
legal in character, and swears that they never inhaled, or does the writer
render any opinion as to title, which is assumed to be marketable. All
existing liens, encumbrances, assessments and any other money owed by the
writer have been disregarded, and the text is written as though free and
clear, even though the writer knows better.
- Unless you told the writer, it is assumed that there is nothing wrong
with this writing, or whether the writing encroaches on any other writings.
- Any exhibits used by the writer are included to assist the reader in
visualizing the idea of what is written, but the writer is not an artist
and assumes no responsibility in connection with such artsy craftsy stuff.
- The writer may not be required to give testimony or to appear in court by
reason of this writing, or at least until the writer is released from jail.
- The writer has no present or contemplated future interest in this
writing, unless it means the writer can make money.
- The writer assumes that all the information written in this writing is
from reliable sources, and it is assumed that the information is
information and not misinformation.
Previously published in the January 2000 issue if the ASA Newsline,
published by the American Society of Appraisers. Written by L. Deane
Wilson, ASA and reprinted with his permission. If you ever get a chance to
hear Deane Wilson speak, do it. He is one of the most humorous and "out
there" appraisal presenters I have ever heard! Contact Deane at
mailto:lwilson@main.gv.net
===============================
If you like these emails... If you don't already subscribe .... To
subscribe to my monthly "paper" Appraisal Today newsletter for $99 per year
($149 for 2 years), call 800-839-0227 or fax 800-839-0014 (credit card
orders) or send your check (made out to RECR) to 2015 Clement Ave.,
Alameda, CA. For an order form, go to
http://www.appraisaltoday.com/orderfrm.htm
. AOL Users: <a
href=http://www.appraisaltoday.com/orderfrm.htm> Click Here</a>
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Ann O'Rourke, MBA, SRPA, SRA, Unlimited
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!
5/7/00 100 year old appraisers/limiting conditions (humor)
Something for everyone in this email... a little humor, a little "out
there" view of the present and future of residential appaising.
***************** SPONSOR AD *******************
Which on-line appraiser directory do you trust to market your appraisal
services?
FEEAPPRAISER.COM is the best known appraiser directory in the mortgage
industry and is the only one that GUARANTEES you results.
Feeappraiser.com recently announced strategic alliances with:
eZDesk.com
LendingHut.com
LenderBase.com
LendingIntelligence.com
B4Usellyourhome.com
Domania.com
Transamerica/Intellitech
(more alliances coming)
Get more bang for your buck, get with FEEAPPRAISER.COM!
Click on the link below
http://www.Feeappraiser.com
or Call toll free (888)407-7557
*************************************************
Residential appraising - Wall Street, computer nerds, donuts, and 100 year
old appraisers
This article was written by Frank Lucco, SRA and is really "out there"!
Technology
You had better start sucking up to a nerd or geek. Improve your
relationship with your 13 year-old son or daughter. Allocate considerably
more time on a daily basis to software and hardware issues. The next person
that you hire or outsource will not likely be an appraiser, but instead, a
computer solution provider. You can no longer plan for what's now, you have
to plan for what's next. You are either E or your out. E-Commerce will
change everything. See you at the magazine stand, in the computer magazine
section. Real estate has been categorized for years as an inefficient
market. As it becomes more efficient, it will challenge you personally and
professionally. You start to lose touch with family and friends as your
virtual office leads to isolationism. Thank God you have installed voice
recognition software, otherwise you would surely be suffering from carpal
tunnel syndrome. Can you say AVM?
Securitization
You are still peddling 1004 forms, touting the quality of your work, and
pointing the value at the bottom of the form. Unknown to you is a fact that
the clients have spread out their risk and are no longer as dependent on
your single point estimate. They're much more interested in future
projections of neighborhood performance and current market trends. In
short, you are selling buggy whips and they have the throttle down in a
Ferrari. You're starting to understand the terms of dead, ask, spread,
margin, call, and other Wall Street lingo.
Globalization
No Web page, no E-commerce site, no orders. This is no longer your father's
appraisal business. Ma & Pa are on the outside looking in. Appraisal orders
are being generated from outside your city, county, state. The bottom line
is that your dropping the donuts off at the wrong desk.
Consolidation
Right size, downsized, reengineering, disintermediation, partnering,
alliances, outsourcing, and one stop shopping are familiar lingo in today's
marketplace. Even the biggest companies have determined they can't make it
on their own. At one time considered taboo, even competitors are forming
alliances in order to stay afloat. hat's it telling you when the bank name
on your checkbook changes three times in one year but you never moved your
account? You can probably count your clients on one hand now. Five of the
biggest national homebuilders just went together to place 20,000 new homes
for sale on the Internet. It's one thing for your clients to consolidate,
it's another thing to consolidate your one-appraiser office.
Speed
Remember the days when you could deliver the report when you were ready? I
remember when three of four weeks turnaround time on a single-family
appraisal was okay with our clients. Also, the days when they ordered the
appraisal the same time they took the credit application from the borrower.
There's a reason when a client now calls and indicates everything else is
done except for the appraisal. The reason is simple; they've shifted their
analysis towards risk and away from collateral. Their ordering of an
appraisal is now almost an afterthought. Three or four weeks turned into
the two weeks, turned into one week, turned into five calendar days, turned
into three business days, and the now client visualizes 24 hour turnaround.
Gives you a lot of time to do match paired analysis doesn't it?
Longevity
This is the best trend for you are as real estate appraiser. You are now
working longer hours, delivering faster products, and for cheaper fees. The
good news is that you can make it up on volume! Because of medical advances
and good genetics you will probably able to drag a tape measure around the
house until you're pushing well over a hundred years old.
The bottom line
When the business environment outside your company is changing faster than
the environment inside your company, the end is near.
So stay frosty and our apologies to the meek and the world they shall not
inherit
About the author
Frank J. Lucco, SRA, is the President of Frank J. Lucco & Associates, Inc.,
Real Estate Appraisers, Brokers & Consultants
based in Houston, TX, and a member of the Appraisal Institute's Residential
White Paper Group and is the Houston AI Chapter 2000 President. Contact him
at mailto:frank@franklucco.com . His Web site is
http://www.franklucco.com .
Originally published in his chapter newsletter.
=======================================
Limiting conditions and assumptions (humor)
- The person or persons writing this assumes that they have no idea who
they are, why they wrote it and what it means.
- The person or persons writing this is only liable for the amount of their
fee for writing this.
- The person or persons writing this has no idea about anything structural
and, further, can't even make sawdust.
- The person or persons writing this assumes no responsibility for anything
environmental and, in fact, the person writing this has never driven a car.
- The person or persons writing this assumes no responsibility for anything
legal in character, and swears that they never inhaled, or does the writer
render any opinion as to title, which is assumed to be marketable. All
existing liens, encumbrances, assessments and any other money owed by the
writer have been disregarded, and the text is written as though free and
clear, even though the writer knows better.
- Unless you told the writer, it is assumed that there is nothing wrong
with this writing, or whether the writing encroaches on any other writings.
- Any exhibits used by the writer are included to assist the reader in
visualizing the idea of what is written, but the writer is not an artist
and assumes no responsibility in connection with such artsy craftsy stuff.
- The writer may not be required to give testimony or to appear in court by
reason of this writing, or at least until the writer is released from jail.
- The writer has no present or contemplated future interest in this
writing, unless it means the writer can make money.
- The writer assumes that all the information written in this writing is
from reliable sources, and it is assumed that the information is
information and not misinformation.
Previously published in the January 2000 issue if the ASA Newsline,
published by the American Society of Appraisers. Written by L. Deane
Wilson, ASA and reprinted with his permission. If you ever get a chance to
hear Deane Wilson speak, do it. He is one of the most humorous and "out
there" appraisal presenters I have ever heard! Contact Deane at
mailto:lwilson@main.gv.net
5/10/00 FHA links/Life
Cycle/virii
New this week from Appraisal Today e-news
+ FHA new links
+ How to get help from other appraisers
+ A Virus Story
+ Life Cycle of an appraisal firm
+ Loan apps down
+ April ASB Q&As
*
>>>>>>>>>>>>> FHA NEW LINKS <<<<<<<<<<<<<
I have links for the Final Roster regs, NAR FHA survey on fees and who's
doing FHA appraisals, and the FHA manual in PDF format at
http://www.appraisaltoday.com/fha.htm
>>>>>>>>>>>>> HOW TO GET HELP FROM OTHER APPRAISERS <<<<<<<<<<<<<
I regularly receive emails asking me for information on some very specific
topic such as where to get an FHA form or problems with a specific software
program. I usually send them to my web page on "How to communicate with
other appraisers online using email lists and chat boards" at
http://www.appraisaltoday.com/appr__online.htm
for a list of links and
brief info on the web sites and email lists. I have found these resources
invaluable in my own appraisal business.
A few examples:
- an excellent thread on life estates on a chat board at rwm.ne t
- lots of help at a users email group
- alamode and aci - FHA tips on a HUD chat board at www.naifa.com
- Advice on a tough commercial appraisal assignment
>>>>>>>>>>>>> A VIRUS STORY <<<<<<<<<<<<<
I got the I Love You virus. It destroyed all the jpg files on my hard
drive. Fortunately, it was not the computer I use for my appraisals with
thousands of jpg files.
------------------------------------
If you subscribe to my "in house" email list, you got my message about the
ILOVEYOU virus by 11AM (California time) the day the virus hit the U.S. If
not, I hope you didn't get the virus. The email was not sent to those on
the e-appraiser list as the weekly email had already gone out. I also sent
out a notice about NAR wanting appraiser-participants for their annual Cost
Survey (replies required by May 8).
Also, on Monday I sent out another "special" email with Frank Lucco's "out
there" advice for res appraisers and a humorous list of limiting
conditions.
To subscribe to my "in house" list, go to
http://www.appraisaltoday.com/free.htm
or send an email to
mailto:info@appraisaltoday.com requesting to be on the list. Or, just hit
the reply button and request to be added to the list.
-----------------------------
Why did I click on the virus/worm attachment?
- I checked my email really early the morning the virus hit, hours before I
got any notices.
- In my early morning haze, I didn't notice that it had .vbs on the end of
the attachment name and was an executable file.
- The email was sent by an appraiser/computer nerd I have known for quite a
while. He is one of the least likely people I know to transmit a virus. His
Outlook email software sent it to everyone in his address book when he
clicked on the attachment.
- My antivirus sofware (Norton) which I update once a week, did not see it.
- I was suckered by the subject line and content like lots of other
people!!
----------------------------------
What can you do to avoid what happened to me?
- If the attachment is and executable file, such as ending in .exe or .vbs,
don't open it until you check with the sender. Image files such as PDF,
JPG, and GIF are okay.
- To check out an attachment, go to www.mcafee.com
or www.symantec.com or
www.drsolomon.com .
- If you use Outlook, be **very, very, very** careful with any
attachments. Viruses like ILOVEYOU are set up to automatically sent itself
to everyone in your address book. I use Eudora, so the 3,000 appraisers on
my "inhouse" list didn't get sent the virus.
- Only open documents that support macros (Word, Excel) if you have
security enabled to detect Macros
- Update your antivirus software at least once a week. Subscribe to special
alert services, such as the one at http://www.mcafee.com
. It is very
unusual to have a virus like ILOVEYou spread so fast. - If you click on an
attachment and your computer grinds to a halt, you're in trouble. If you
can't log onto the antivirus sites, you're in really big trouble as it is a
new virus!
- Make backups of your important data files.
--------------
Here's a link for a fix for Outlook 2000 plus links to Outlook 97 and 98
http://officeupdate.microsoft.com/2000/downloadDetails/O2Kattch.htm
I couldn't find anything on the Microsoft site about Outlook Express, but
here are a few tips - - Don't use the Preview Pane in Outlook Express -
Download the new updates to IE to fix this flaw. - Change security options
>>>>>>>>>>>>> LIFE CYCLE OF AN APPRAISAL FIRM <<<<<<<<<<<<< Last week I
called my appraiser "local expert" in a nearby city for advice on an
appraisal. I found out that he is no longer in the appraisal business after
having his appraisal firm for over 20 years.
Every week I am hearing about long time appraisers here who are quitting
the business. Do you know any appraisers that are burned out? Any long time
appraisal firms that seem to be stagnating? Read my 1994 article Life Cycle
of an appraisal firm, and see if you recognize anyone you know! The stages
are: - Survival - Growth - Saturation - Supersaturation and decline
I have some tips on "How to avoid saturation and decline" at
http://www.appraisaltoday.com/life_cycle.htm
>>>>>>>>>>>>> LOAN APPS DOWN <<<<<<<<<<<<<
The Mortgage Bankers Association of America (MBA) released its Weekly
Mortgage Application Survey results last Wednesday, reporting that mortgage
loan applications for the week ending April 28 decreased 0.8 percent from
last week. Compared to the same week last year, loan applications were down
23.6 percent.
I have posted a new graph and new stats at
http://www.appraisaltoday.com/mbastats.htm
>>>>>>>>>>>>> APRIL ASB Q&AS <<<<<<<<<<<<<
The April ASB Q&As are at https://www.appraisalfoundation.org/2000-4qa.htm
This month's questions are about: 1. A duplex with a 24 month below market
remaining term - fee simple or leased fee? 2. Referral fees from a home
inspector. 3. Appraisal review vs. non-review
-------------------------------------- This email just has brief
information on topics. To get the "full story," subscribe to my monthly
Appraisal Today "paper" newsletter. To see table of contents from recent
newsletters, go to http://www.appraisaltoday.com/last2.htm
If you don't already subscribe .... To subscribe to my monthly "paper"
Appraisal Today newsletter for $99 per year ($149 for 2 years), call
800-839-0227 or fax 800-839-0014 (credit card orders) or send your check
(made out to RECR) to 2015 Clement Ave., Alameda, CA. 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/sample.htm
, call, or fax (use numbers
below).
5/14/00 Where to get flood maps
==================== SPONSOR ===================
Looking to buy a residential appraisal firm based in the metropolitan
Phoenix area. If you are interested please call Brandon Barnett at
412-901-4253 or email at bbarnett@realink.com.
================================================
Trying to find properties on paper flood maps (FIRM, Flood Insurance Rate
Maps) and keeping up with the changes are a hassle for appraisers,
especially if your clients want a copy of the flood map in their appraisals.
Flood maps are available on CD, but not all the vendors have geocoded maps.
(Type in an address and a map comes up indicating the location of the
subject property.) Only one company, DMS, has online flood maps in a few
states.
Note: check the web sites for prices, as they do change.
-----------------------
Transamerica Information Service - Flood Insights
Flood Insights is is a geocoded mapping product, with layering of street
maps and flood maps. The program displays a street map with a small house
icon indicating the subject. Easy to use. Not networkable. Does not display
the actual "paper" flood maps.
Price: Annual subscription. $229 for first county, $100 for each additional
county for annual service. $369 for large counties, with discounts.
Web site: http://www.ta-intellitech.com - scroll down to Products, Click on
FloodInsights
Contact information: 800-825-7226
-----------------------------------------------------
Beacon Maps - Diluvium - California only
Geocoded. Displays the actual maps. Easy to use.
Price: Annual subscription varies from $159 to $249 per county depending on
size. Discounts for multiple counties. Networkable.
Demo: Download Lotus Screen Cam demo off web site.
Web site: http://www.beaconmaps.com
Contact information: 800-582-0444
------------------------
Digital Media Service (DMS)
The first company to provide geocoded online maps.
Their CD maps are not geocoded. You search in the flood map panels for the
subject's location, just like when using a paper map.
The online price is $20 per month per state or $199 per year. Currently,
California, Illinois, and New Jersey are available.
CD info
Price: Annual subscription. Price varies. For example, 4 counties in
Arizona at $119, 5 counties in Southern California at $149.
Coverage: 30 states
Networkable: Yes
Web site: http://www.floodmaps.com
Contact information: 732-446-2211
-----------------------
The Lochshiel Corporation - FEMA FM Tracker
The maps are not geocoded. CD product, in regions. Networkable.
Price: Varies. For example, California has 4 CDs (regions). Illinois has 2
CDs. The first region is $199, each additional region is $100. The entire
state of California is $499. The entire state of Illinois is $299. Updates
are $100 per year.
Software version: 5.02
Demo: on web site
Web site: http://www.lochshiel.com
Contact information: 888-356-6362
--------------
FEMA
The FEMA web site at www.fema.gov has lots and lots of useful and
interesting information, including a list of current maps, ordering form
for paper maps, etc.
-----------------------------------
What's the best option for you?
What's the "best" program? They varied so widely, it really depends on your
budget and what you need.
If you work a very small geographic area, using paper maps may work. Set up
an account with FEMA's map update service to keep current, www.fema.gov.
Some CD public records data vendors also offer flood map data (not the
maps) for an additional nominal fee, such as Acxiom/Dataquick. My local MLS
includes flood data for free.
If you work a large geographic area and have to manage hundreds of maps, or
you don't like hassling with the paper maps, flood maps on CD is worthwhile.
Check the vendors' web sites for availability in your area. Flood map CDs
for your area may not be available for the vendor you want, limiting your
choices.
The future is geocoded Internet delivery, but only DMS will has this, for a
few states now.
5/17/00 ASA-NAIFA consolidation/Mortgage alert/$7M HUD contract
New this week from Appraisal Today e-news
+ ASA and NAIFA to work toward consolidation
+ Mortgage alert!!
+ MN appraiser may lose license
+ $7,000,000 HUD appraisal contract
+ Looking for a few good land development experts
+ More info on CTMI fine and lawsuit
+ New edition of Web directory
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return, and much more. Download FREE trial version: http://www.atvalue.com.
@Value ~ Simply Powerful.
************************************************
>>>>>>>>>>>>> ASA AND NAIFA TO WORK TOWARD CONSOLIDATION <<<<<<<<<<<<<
Merging of appraisal associations has been a continuing topic for many
years.
As of Tuesday, May 16, it's official... ASA and NAIFA have agreed to work
toward consolidation of the two organizations. NAIFA is an appraisal
association for real property appraisers. ASA is an organization for
different appraisal disciplines, real property, business valuation,
personal property, gems and jewelry, machinery and technical specialties,
and appraisal review and management.
ASA currently has 5,800 members; NAIFA has 3,500 members. The consolidated
association will have approximately 9,000 members.
Per the May 16 letter sent to ASA members, signed by President James T.
Job, " A taskforce will be appointed to develop a consolidation plan to be
voted on by the associations' memberships. ... We see this as a win-win
situation for both associations."It is hoped that a consolidation will be
accomplished by the end of 2000. Both associations believe that this is to
the betterment of the appraisal profession and benefits members of both
associations."
Lots more info in this month's issue of Appraisal Today "paper" newsletter.
See the end of this email for subscription information or call
800-839-0227.
For more information on the organizations, go to http://www.appraisers.org/
(ASA) and http://www.naifa.com/
>>>>>>>>>>>>> MORTGAGE ALERT!! <<<<<<<<<<<<<
Well... seems like the Fed is determined to push up interest rates with
Tuesdays 0.5 point increase, with many predicting more increases by the
Fed, with mortgage rates over 9%. Mortgage rates have already gone up to
about 8.5% for conforming 30 year first mortgages.
My advice? Take as much work as you can handle due to the push to get refis
before rates go up again. as there will be less in the future, if the Fed
continues on its inflation squashing path. FYI, the immediate effect will
be in residential, with some slow down in commercial.
For the full story on Fed Watching and a charts of 10 years of interest
rates, go to http://www.bankrate.com/brm/news/fed/20000516.asp
Warning -
this article can be a bit technical!
To see a stats and graphs of mortgage application volumes back to 1990, go
to http://www.appraisaltoday.com/mbastats.htm
>>>>>>>>>>>>> MN APPRAISER MAY LOSE LICENSE <<<<<<<<<<<<<
Revocation of a Minnesota appraisers license involved in flips was
recommended, per a Wednesday, May 10, article in the Minneapolis Tribune.
"Judge Kenneth Nickolai recommended that Minnesota's commerce commissioner
"take adverse action" against Michael Aihe, owner of Lakeland Appraisals.
Aihe's appraisals were used in at least 41 home-purchase loans that went
into default, Nickolai said."
To read the article, go to http://www.startribune.com/
and search for Aihe.
Check out the history of the investigation also.
Lots more info on this story from my "inside connection" will be in the
June issue of Appraisal Today....
To get lots and lots of info on mortgage fraud, check out the posted files
at Steve Smith's Fraud Excite club at
http://comm.excite.com/comm/area/pw/welcome/main.asp?cid=.xzQuG3EmEkR&aid=2
>>>>>>>>>>>>> $7,000,000 HUD APPRAISAL CONTRACT <<<<<<<<<<<<<
See who got HUD's latest appraisal contract rewards at
http://www.hud.gov/cts/ctsawd.html
. The biggest QC one was for just under
$7,000,000 - Bedrock Appraisal, Inc. for Arizona, Colorado, New Mexico,
Utah, Wyoming, Nevada, South Dakota, North Dakota, Idaho. Also awarded was
REO appraisal services in MD to Appraisal Quality Management, Inc. for $175
to $210 per appraisal. I love those government disclosure regs!
If you're looking for subcontract FHA review work, contact one of the
contractors. PCV/Murcor, has a web site with info at
http://www.pcvmurcor.com Horizon Consulting is at
http://www.horizon-inc.com/
This link, along with all the other FHA links, is posted at
http://www.appraisaltoday.com/fha.htm
>
>>>>>>>>>>>>> MORE INFO ON CTMI FINE AND LAWSUIT <<<<<<<<<<<<<
More info on Chicago Title/Market Intelligence (CTMI) fine and lawsuit
- Oregon's letter to CTMI regarding the $444,500 fine
- Inman article on CMTI's lawsuit (per CTMI their lawsuit was not a
response to the Oregon fine)
- CTMI press release
CTMI's lawsuit filing was not available in electronic format
The info is posted at http://www.appraisaltoday.com/news.htm
The "full story" is in this month's issue of Appraisal Today "paper"
newsletter. See the end of this email for subscription information or call
800-839-0227.
>>>>>>>>>>>>> LOOKING FOR A FEW LAND EXPERTS <<<<<<<<<<<<<
Jim MacCrate, MAI is looking for analysts for his annual New Millennium
Land Investment survey, at http://www.maccrateassociates.net
(link is on
right side of page). The survey is solely for land developers, builders,
appraisers/analysts or lenders actively involved in land development and/or
analysis of land investments.
For more information, send email to mailto:JMacCrate@aol.com
>>>>>>>>>>>>> NEW EDITION OF WEB DIRECTORY <<<<<<<<<<<<<
Edition Three of Don't Get Caught in the Web: The Essential Real Estate Web
Directory by Gail Cooper, MAI is now available in four regional editions:
Western, Central, Southeastern, and Northeastern.
The book is useful for primarily commercial appraisers, with 27 pages of
brief descriptions of national links, such as self storage, motels, and
demographics.
The remainder of the 156-page book is state and local web sites.
For more info or to order the book, go to
http://www.corpadvisors.org/books.htm
or call 847-359-5400. The price is
$28.95 for the Central Region and $24.95 for the other three regions, plus
shipping and handling and sales tax for Illinois residents.
5/24/00 What's your appraisal firm worth?
- Special email
Although many appraisal firm owners think the only value in their firms is
the office equipment and data, there are sales of appraisal firms.
+++++++++++++++++++ SPONSOR ++++++++++++++++++
Mitchell, Maxwell & Jackson, Inc., a New York based appraisal and
consulting firm is looking to purchase Metropolitan New York, New Jersey
and Connecticut appraisal firms. Will consider retaining staff & present
ownership. Please reply in confidence to Steven Knobel at
mailto:SKnobel@mail.mmjappraisals.com ,
through our website: http://www.mmjappraisals.com
, or call 212- 319-7300.
AOL Users: <a href=http://www.mmjappraisals.com> Click Here</a>
+++++++++++++++++++++++++++++++++++++++++++++++
Here are the main factors I identified in an article I wrote in 1994, "Can
you sell your appraisal business?" (With the assistance of Margaret
Singleton, ASA, MAI, one of the few appraisers expert in both business
valuation and real property ... thanks again Margaret!)
Location
Size of practice revenues
Pre-tax take home
Type of practice
Time in business
Nature of clients
Personnel
Business trends - (assignments/fees)
Favorable lease
Office systems in place
Marketing strategies
To read the article, go to http://www.appraisaltoday.com/selling.htm
.
================================
Primis has been buying appraisal companies around the country. For the
transcript of a very interesting online chat with Jim Landers and Lisa
Baker, the acquisitions team for Primis, Inc., go to
http://www.e-appraiser.net , scroll down the left side of the page to guest
speakers, click, then scroll down the page to the May 8 chat in PDF format.
AOL Users: <a href=http://www.e-appraiser.net> Click Here</a>
----------------------------------------------
Here are a few Tidbits:
Jim Landis (Primis) - Primis is targeting firms that primarily offer
residential services. We are interested in expanding into either
fast-growing markets or markets in which our major clients are requesting
that we provide services to them. We have acquired several firms with a
major commercial component, and I personally like that business a great
deal. However, our primary strategy calls for us to establish a national
"footprint" to offer residential appraisal services.
Ann O'Rourke: How fast do you move when purchasing an appraisal firm? That
is, identifying likely
prospects, then making an offer, then closing.
Jim Landers (Primis): Hi Ann- The best time we have had is 45 days.
However, they usually take a little longer than that
Gregg Manzione: Do you use any formulas for buying firms, ex. 2 times top
line or 5 times bottom line?
Jim Landers (PRIMIS, INC. Alpharetta GA): Gregg. Yes, we do have formulas,
and they vary based on
the quality of the appraiser workforce and client base, as well as the
amount of revenue we believe that we can bring to an acquisition. If you
would like to discuss that more specifically, I would be happy to speak
with you off - line.
Pat Mohritz: Jim or Lisa, is there a size requirement for the appraisal
firms you are looking for?
Lisa Baker (PRIMIS, INC. Alpharetta GA): Pat- We like to look at firms with
annual revenue of $1,200,000 or greater, a stable customer base composed of
primarily mortgage originators, and minimal involvement with management
companies. We also... like an appraisal workforce that includes both staff
appraisers and independent contractors. Management also plays a critical
role in our decision making process. We want companies with good
reputations for quality.
--------------------------------
Contact information:
Jim Landers mailto:jclanders@primis.com
Phone - 770-777-8604
Lisa Baker mailto:labaker@primis.com Phone - 678-339-3559
To read Primis' very interesting 200+ page filing for their upcoming IPO,
go to the SEC's Edgar database at http://www.sec.gov/cgi-bin/srch-edgar
and
type Primis in the search box.
5/24/00 MN-MD flips/USPAP changes
New this week from Appraisal Today e-news
+ Two good appraisal web sites
+ Minnesota appraiser may lose license
+ FHA acts on flips in Baltimore
+ Baltimore appraisers indicted
+ May USPAP Q & A's
+ New this month in Appraisal Today
+ New proposed changes to USPAP issued May 7
+ Proposed changes to USPAP instruction
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Appraise-It is also compatible with Abobe Acrobat, Lighthouse, e-Relay, and
Fannie Mae MortgageLinks. Just give us a call today and try your FREE DEMO
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>>>>>>>>>>>>> TWO GOOD APPRAISAL WEB SITES <<<<<<<<<<<<<
Free searches of data on retailers, shopping centers and demographics;
current news, editorials and legal cases impacting retail, and an industry
message board at http://www.PlainVanillaShell.com
http://www.ordinance.com/
has zoning and planning ordinances and maps for
municipalities in CA, CT, NJ, NY, PN, and WA. Subscription based. I loved
the ability to search zoning regs and cut and paste them into an appraisal.
For more commercial appraisal info, go to
http://www.appraisaltoday.com/commercial.htm
. Be sure to read the joke ;>
I am still developing this part of my web site and plan on putting lots of
commercial info on it. I have also restructured many of my other pages to
include a special commercial section, when relevant.
>>>>>>>>>>>>> BALTIMORE APPRAISERS INDICTED <<<<<<<<<<<<<
Per an April 28 article in the Baltimore Sun, two appraisers, Guy
Shaneybrook, 51, of Middle River and Narade Pramuan, 34, of Baltimore were
indicted in a 500 to 1,000 property flipping scam.
The indictment alleges mail and wire fraud. This is the second indictment
of this type in 2 months in Baltimore.
To read the story, go to http://www.sunspot.net/
and search the archives.
There is a nominal fee. Thanks to Homestead Appraisal Group for faxing me
the article!
>>>>>>>>> FHA ACTS ON FLIPS IN BALTIMORE <<<<<<<<<
FHA is planning on helping buyers who were bilked in the Baltimore flipping
scams by paying very inflated home prices, per articles in the Baltimore
Sun on May 19 and 20.
To read the Baltimore Sun stories, go to http://www.sunspot.net/
and search
for FHA. The articles from most recent two weeks are free.
>>>>>>>>> MINNESOTA APPRAISER MAY LOSE LICENSE <<<<<<<<<
Revocation of Michael E. Aihe's Minnesota appraisers license was
recommended by Administrative Law Judge Kenneth Nickolai. Aihe's appraisals
were used in a flip scam in Minneapolis.
To read articles in the Minneapolis Star Tribune article, go to
http://www.startribune.com/ and search for Aihe. Check out the history of
the investigation also.
I have some very interesting info on this flipping scam in the June issue
of the "paper" Appraisal Today. To order Appraisal Today ($99 for one year
or $149 for 2 years) or to get a free sample issue, call 800-839-0227 or go
to http://www.appraisaltoday.com/amm.htm
>>>>>>>>>>>>> MAY ASB Q & A'S <<<<<<<<<<<<<
Topics are: - The reviewer doesn't know the name of appraiser on the
appraisal being reviewed - Above market leases - Retrospective appraisals
and which version of USPAP applies
Go to https://www.appraisalfoundation.org/2000-5qa.htm
. Copies of the
April and May ASB Q&A's will be included with the April "paper" Appraisal
Today newsletter. A
>>>>>>>>> NEW THIS MONTH IN APPRAISAL TODAY <<<<<<<<<
= Appraisals on the Internet - delivery, ordering and tracking on the Web -
who's doing what and how
= Flipping: dangerous maneuvers for appraisers
= Where to get E&O insurance - June 2000 update
= More mortgage flips in Minnesota and New Jersey - the details
= ASA and NAIFA to work toward consolidation - the full story
= $7,500,000 HUD appraisal contract - who got what, and where
= E-appraiser online directory purchased by Primis - the full story, not
just the headlines!
To order Appraisal Today ($99 for one year or $149 for 2 years) or to get a
free sample issue, call 800-839-0227 or go to
http://www.appraisaltoday.com/amm.htm
>>>>>> NEW PROPOSED CHANGES TO USPAP ISSUED MAY 7 <<<<<<
On February 7, the Appraisal Standards Board (ASB) proposed changes to
USPAP 2000 and new Advisory Opinions. May 7 they issued a draft for
additional changes.
Many of the new changes relate to consulting issues, such as when are
appraisers subject to USPAP and valuations provided by non-appraisers and
the difference between appraisals for lending and nonlending purposes.
Changes/additions proposed include:
- Proposed Statement on Appraisal Standards - Assignments for Use by a
Federally Insured Depository Institution in a Federally Related Transaction
- Proposed Advisory Opinion - When Does USPAP Apply in Valuation Services
- Proposed Advisory Opinion - Scope of Work in Market Value Appraisal
Assignments, Real Property
- Proposed Advisory Opinion - Identifying the Relevant Characteristics of
the Subject Property of a Real Property Appraisal Assignment
The other major issue addressed is appraisal review, including advice on
when a reviewer changes the value on an appraisal (Advisory opinion) and
proposed changes to Standard 3 (reviewing).
For more information, go to https://www.appraisalfoundation.org
and click
on Exposure Drafts. The deadline for comments is June 23, 2000.
>>>>>>> PROPOSED CHANGES TO USPAP INSTRUCTION <<<<<<
The Appraiser Qualifications Board is proposing major changes in USPAP
instruction, including a mandatory 2 day instructor class, an instructor
exam, a 7 hour USPAP class every 2 years for license renewal, and other
changes.
For more information, go to https://www.appraisalfoundation.org
and click
on Exposure Drafts. The deadline for comments is June 30, 2000.
================================
This email just has brief information on topics. To get the "full story,"
subscribe to My monthly "paper" Appraisal Today newsletter has the "full
story."
If you don't already subscribe .... To subscribe to my monthly "paper"
Appraisal Today newsletter for $99 per year ($149 for 2 years), call
800-839-0227 or fax 800-839-0014 (credit card orders) or send your check
(made out to RECR) to 2015 Clement Ave., Alameda, CA. 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
, call, or fax (use numbers above).
Ann O'Rourke, MBA, SRPA, SRA, USPAP watcher
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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