Shot Through the Heart

A snapshot of what we learned while attending the 2008 Fall Conference of the Association of Appraiser Regulatory Officials (AARO) here in Washington, DC Pressure on Appraisers: Appraisers will be happy to know that generally lenders have greatly reduced...
October 6, 2008

Appraisers as Four Horseman of Financial Apocalypse

*sigh* Well, I had hoped that during this real-estate crisis, people would realize that the folks making $300 a transaction are not really the principle parties behind the financial debacle. But sadly, that is not the case. In an...
October 1, 2008

Home Valuation Code of Conduct “start date” will be delayed

The Director of the FHFA, which oversees Fannie and Freddie, says he expects the HVCC to be released shortly. However, the start date of the HVCC will be delayed: Separately, an agreement to reshape the appraisal industry is being...
September 30, 2008

How Washington Enabled a Financial Crisis

Barry Ritholtz writes a satirical Op-ed for Barron’s Magazine, thanking the Government for enabling Wall Street, helping them create this financial crisis. In his piece, Barry includes the failure of Congress to protect honest appraisers. The article starts: We...
September 29, 2008

Do Downpayment Assistance Programs Impact Appraisals?

Everybody is talking, rightfully so, about the big bailout agreement. It’s Main Street vs. Wall Street as some have stated polls showing 80 percent of the public is not in favor of the bailout. If you’re looking for a...
September 28, 2008

State Appraisal Appointment May Violate Law

Mitch Weiss, author of a previous news article which details the failures of the appraisal regulatory structure, has written a second article questioning the appointment of a Real-estate attorney to the North Carolina Appraisal Board. According to the article:...
September 23, 2008

The Value of this Bailout

————————————————————– My Plan: If the U.S. Government is going to spend taxpayer money to buy homes from banks, (and that’s essentially what this bailout is) then it would be nice if they got a new appraisal for each those...
September 23, 2008

Four States Pass Appraisal Independence Legislation

In 2008, Connecticut, Kentucky, Missouri, and New York all passed new laws prohibiting appraisal pressure. Here is a quick summary of each state’s legislation. Connecticut – Prohibits mortgage brokers, real estate brokers, and real estate salespersons from attempting to...
September 22, 2008

If you outlaw Appraisal Management Companies, then only outlaws will have Appraisal Management Companies.

In reading through the comments on this post about Congresswoman Biggert’s (R-ILL) promotion of appraisal independence, it is clear that appraisers have a lot of problems with Appraisal Management Companies (AMC’s). Coincidentally, yesterday I was reading though a 2006...
September 19, 2008

Appraising Green Features in Residential Homes

Yesterday, RealtyTimes ran an article about a unique partnership between BP and Shea Homes. The joint initiative, called Victoria Gardens by Shea Homes, is part of the builder’s efforts to reducing the carbon footprint of its homes. The homes...
September 18, 2008