Affiliated Appraisers Workshop

Convenient & Affordable Education for Appraisers

Live & Online

2010-2011

National USPAP Courses

www.UspapInfo.com

Helpful Links & Numbers:

FHA Mortgagee Letters

FHA Valuation Protocol

FHA  frequently asked questions

Zip Code Lookup

California Labor Market Information

FEMA flood maps

Appraisal Law Blog

DEA homes raided-possible drug labs

Wetlands Info

EPA site locations

FHA approved Condo projects

Fannie Mae approved Condo projects

Rancho Murieta foundation remediation

Open Energy Info

Fidelity Title Info

Permit check

Zoning:  

El Dorado County

Placer County   

City of Roseville

Sacramento County

Planning Department Phone #’s

Sac County - 874-6221   

Sac City -  808-5656

Folsom -  355-7214 

Citrus Heights -  727-4740

El Dorado -  530-621-5355

Placer Cty- 530-886-3000 

Roseville  -  774-8276  

Rocklin  -  625-5160

Lincoln -  645-3320

Use the links below to find the associated document numbers for recently closed sales. 

El Dorado County:  

Placer County:  

Sacramento County:  

Join the Appraisers Watercooler

ThinkBigWorkSmall

Everything you need to succeed!

Mark Guzman –

(916) 989-3966

Computer solutions for home and business, Mark has been working with appraisers and appraisal software since licensing went into effect.

REAA  -  WEB SITE

Meets second Tuesday of each month.

Tri-County Appraisers Forum meets in an informal setting to discuss appraisal issues.  Location :  Denny’s Restaurant, Hazel and Greenback in Orangevale Meetings 2^nd Friday of the month at 10am

You're Invited!

Offering a free networking opportunity for local appraisers to share ideas and resources

Meeting at 11:30 AM

Last Tuesday of Each Month

@ Round Table Pizza

9500-1 Greenback Lane, Folsom

2010 Calendar

Informal meetings will be held in conjunction with the “lunch hour” (apparently that’s when “normal folks” stop work long enough to eat!) 

  Bring a friend and your ideas and/or questions. 

Resources you want to share?

Email: info@AppraisersInfoNet.com

 
FOR MORE INFORMATION

CALL

 BILL MIKLOS (916) 467-7574

 -OR-

CYNTHIA SULAMO  (916) 988-6925

Are you an Independent Appraiser? Or a Real Estate Professional????????? 

We often hear and see appraisers take issue with being questioned about their reports.  Interesting concept since we are the professional and it is our job to clearly set out how we reached our conclusions.  Questions from our clients, be they lender or otherwise are truly opportunities to see our work from someone else's eyes.  How can we better explain how we reached our conclusions?  Are we doing what we can to help educate our business partners on what goes into an appraisal or the appraisal process? 

Patrick Egger wrote a terrific article titled “Closing the gap between sales price and appraised value”.  He has generously shared it with us and hopes we all will help to bring a better understanding to our business partners. 

One good point he makes is that while often we hear agents say “if we have a willing buyer and seller that should be market value”, however as Patrick points out market value is far more complex and includes a statistical probability of the value to many not to one specific person.  His article sheds light on a difficult issue.

ARE YOU COMMUNICATING CLEARLY??

You may have heard this one:

Two hunters are out in the woods when one of them collapses.  He doesn't seem to be breathing and his eyes are glazed.  The other guy whips out his cell phone and calls the emergency services.  He gasps: "My friend is dead!  What can I do?"  The operator says: "Calm down, I can help.  First, let's make sure he's dead."  There is silence, then a shot is heard.  Back on the phone, the guys says: "Okay, now what?"

The need to clearly communicate in our appraisals can help prevent a critical misunderstanding with the intended user or others that may end up with a copy of your report.  The “shot” we may prevent could be to our appraisal practice, the confidence in our ability by our associates or our livelihood.

Listening to our clients concerns, understanding the clear scope of work and then communicating our reasoning, findings and supporting them well not only builds confidence in you as an appraiser it can build your business as well.

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FHA and permitted additions

Does FHA require permits on any additions?  Nowhere in the FHA handbook will you find the requirement for permits.  I’ve spoken to the Santa Ana HOA and they have said they do not require them, they want us to give the value a typical buyer would to the additional space, disclose if you know if permits were obtained but they are not required by FHA.  Ross Acheson recently wrote in the local blog that he was told by FHA that it depends on if that county or jurisdiction is enforcing permits, but overall they are not required by FHA.  Confusing?  Most answers from FHA are at the very least a challenge, but then that is appraising as we know it.  One answer does not fit all situations.

So What are Your Options?

As of Feb 15th our established clients no longer are able to order FHA appraisals the same way they have in the past.

Alternatives to AMC's include:

http://www.nvs.coop/home.asp  the National Valuation Service Co-op, a real by appraisers for appraisers "With the National Valuation Service IT compliant firewall, local, regional and national banks, bankers/brokers, attorneys and credit unions can maintain established appraiser business relationships across the platform and be in full HVCC compliance." Check out their web site to learn more.

https://www.appraisalfirewall.com  which allows lenders to maintain their relationships and still comply with the new requirements. Are you using it? If not, what are you using and how will you and your lenders remain compliant?

https://aims.aimsdashboard.com  another alternative to retain your clients in a compliant format.


We'd love to hear what your doing and how it's working for you. No we are not looking for who your clients are, they are yours. We are looking for what is working for you so we can utilize the best solutions out there and retain as much control as possible over our businesses in the current business climate.

Times are A-changing! and they will continue to do so. Let's share info and help each other to build a stronger tomorrow

From AVM's to RVM's?????????

Realtors Property Resource (RPR) &

RVM's - Realtor Valuation Model.
 

Did you know NAR and MLS are working on a new valuation tool?  You wont want to miss reading this article from Inman:

Click to Read Article

So if realtors are giving property valuations are they doing appraisals?  Will this all be outside of appraisal licensing?  So why are we not hearing an outcry from the Appraisal Institute and other Appraisal Organizations?  This is expected to launch the second quarter of 2010 IF they can get MLS to sign and and give them the data they need.

It’s HERE ! ! ! !

Jan/Feb 2010

-  USPAP new rules require the appraiser must advise the client, and include in the report, any services performed regarding the subject property during the three years prior to the (potential) assignment. The term ”any services” would clearly include any listing/ negotiating a sale of the subject, as well as possible other “services”. 

- Effective January 1, 2010, no person or entity shall act in the capacity of an AMC without first obtaining a certificate of registration from the Office of Real Estate Appraisers. To view the enrolled legislation, click SB237 - AMC.

Regulations now in effect for 180 days from Jan 21^st filing date per OREA website.  As of 3/7/2010 THREE AMC’s have registered, pressure for values have continued from AMC’s (read the water cooler for recent examples).

Latest News...

New Property Manager for Anatolia!

The new management company is called Network Community Management. You can read the specifics about the change here:

http://www.anatolia hoa.org/node/ 311

Thank you Ryan Lundquist for that update!

You need to Know!!

Have you read the OREA’s notice regarding licensing AMC’s? Note that they included a stipulation that will require the AMC to pay the appraiser.  The comment period NEEDS all of you to let them hear LOUD that we are not ok with this!  It was one of the very undesirable parts of the HVCC so lets not make it State Law!

Check out the New side link to the DEA website of homes which have had raids for possible drug labs.

Information alert - Special Considerations:

Boardwalk Condos in Elk Grove have an unusual note buried in their CC&R's which require a seller to pay .005% to the builder anytime a unit sells.  Wow, that's a new one on me.  As of Dec 2010 the owner occupancy rate was reported as 76% and the delinquency rate of the HOA dues as 16.5%.                           

*****    

Networking enhances you business!
What do you need to know to make talking to friends you have not yet met easier???? FORM . . . . yes just remember that word and this is how it relates.
You'll never be at a loss of what to say again. Here is topics which will allow you to talk to anyone.

F = family
O = occupation
R = recreation
M = money

That formula, easy to remember and simple to use, will allow you to connect with more of your friends that you haven't met yet. It's a win/win situation, helping others feels good and brings good things into our lives. Enjoy!

 *****

On Sept. 30^th  FHA had 8,072 appraisers in California and when the new rules went into effect on Oct 1st there were 5,859, just over a 27% decrease. 

FHA Roster Appraisers
 

CA FHA Roster

@ 10/30/2009 = 5,957

@ 11/20/2009 = 6017
@ 12/31/2009 = 6042

@ 01/31/2010 = 6120

@ 02/28/2010 = 6164

AZ FHA Roster

@ 11/29/2009 = 1206

@ 12/31/2009 = 1203 declined

@  01/31/2010  = 1217 

@ 2/28/2010 = 1202 declined          

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Where to send your updated or upgraded license for the FHA roster?

            Fax to HUD at 202-401-0416

How to contact HUD?

hud@custhelp.com or 1-800-225-5342
 

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New FHA mortgagee letter 09-37 states in part “FHA Roster Appraisers are required to review the applicable FEMA Flood Insurance Rate Map (FIRM) and make appropriate notations on the applicable appraisal reporting form.  If the property is located within a SFHA, the appraiser must attach a copy of the flood map panel to the appraisal report.  The appraiser must enter the FEMA zone designation on the reporting form as well as identify the map panel number and map date.  If the property is not shown on any map the appraiser should enter “not mapped”.  It is noted that FEMA is digitizing its maps to provide more detail and actual pictures of existing buildings not seen on older maps which may benefit lenders and appraisers.”