AM Appraisals, Inc. @AMappraisals
We are a professional real estate appraisal and consulting firm. amappraisals.com Columbus, OH Joined April 2010-
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The Potential Impact of Appraisal Gap Clauses amappraisals.blogspot.com/2021/04/the-po…
In most cases, an AMC meets no criteria of an appraisal provider. They would be more accurately defined as appraisal facilitators.
Here’s a radical concept. Appraisers training new people for a couple of years only to have them get their hours, take their test and leave is similar to grad school. Maybe they should be paying appraisers for the education and qualifying hours similar to grad school costs.
For anyone who thinks that regulations eliminated pressure on appraisers, I give you the Reconsideration of Value process and review of additional sales. Pressure is a constant when different users have intended goals and outcomes from an appraisal.
What illustrates the insanity of our profession is the prohibition against using registered trainees to do inspections yet at the same time encouraging hybrid models that allow non-trained people to inspect.
Why, when receiving orders through many portals must we get 3 or 4 email notifications for that one order? #inefficient
As evidence that massive regs rarely solve what they intended...We have 4 jobs on our desk asking us to consider additional sales to revise value upward. Pressure simply went from overt to covert.
One clear way to see that Zillow is wildly inaccurate is to watch it say a property has lost 10% of its value in the last 3 months.
Our backyard fireworks were fun facebook.com/1284288241/pos…
It’s clear that appraisal practice and supplemental standards are not understood by most borrowers and homeowners. What can we do to educate?
Public/private partnerships in development and annexation issues can be a formidable foe for property rights.
Americans are moving from coastal states in search of affordable housing -- and companies, income and home prices are helping it happen. bit.ly/2UUGeHz
External obsolescence brought about by development can have many adverse results other than diminished value.
The Columbus market has claimed the #1 spot in the country. The issue of escalating contracts continues. realtor.com/news/trends/th…
The HP 12C has been a staple for appraisers and finance pros for decades. Who still uses it?
It’s been said that a property is worth what someone will pay. That would carry weight in a cash market but the market becomes subject to the risk analysis of those lending money within a market.
There are two schools of thought in bidding large packages. Do we discount because it’s one borrower OR do we charge our regular fee because we may have to turn down other work to accept?
How we interact with agents, clients, buyers, sellers, builders, etc will go a long way towards projecting ourselves as a profession.
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@AMappraisals I do hear this pretty commonly. Lots of people are hesitant. And some are simply wanting or needing to wait.
I saw eight bedrooms in #MidtownSac today and zero of them had closets. Closets are expected in new homes, but in older homes they aren't always present. Thus it's important not to be dogmatic about a rule that states a closet must exist for a bedroom to exist. Not always.
@AMappraisals I had one yesterday.. I told the lender if I used the suggested sales - "I could lose my license to do business"
Someone asked how a kitchen remodel impacts value. There really isn't one answer. Which neighborhood? Which price range? What if the installation was shoddy? Big Data makes it seem like there should be an instant answer, but there are many questions to consider in the real world.
Doing a workout in the garage today and happened to have Jeopardy on in the background on Netflix. I know, I sound like a big nerd. This is the first season premiere over 30 years ago. Funny to see prices at the time. And I know, adjusted for inflation they would be higher now.
@AMappraisals How about creating short 2 to 3 minute videos on topics? Visit HOA meetings?
What do you think of this home? The exterior is Shou Sugi Ban, a Japanese technique of charring the wood. #realestate
I was asked if a new higher-end development causes nearby lower-priced areas to increase. Here's the thing. If my neighbor buys a Porsche, it doesn't make my Camry more valuable. A high-end development is a different market that may not mean anything for lower prices. Thoughts?
The Democrat Party: A bunch of RICH people Convincing POOR people To vote for RICH people By telling the Poor people That other RICH People Are the reason they’re POOR ...it’s 2019. Don’t fall for the scam of @BetoORourke @ewarren @BernieSanders @KamalaHarris
The market is definitely competitive in light of spring, but it also feels pretty flat in terms of price appreciation in many areas. I know, lots of multiple offers and some properties are getting bid up, but upward price momentum overall feels pretty subtle. Thoughts?
It's interesting that the recent mortgage interest rate drop has happened right before spring buying season. I was curious to observe this spring market at higher interest rates, but now.....I expect a pick up in buyer volume if rates remain lower in fear that may rise again.
@JohnWake Interesting. 37% of the appraisals were inflated by 3% or more. I wonder what level of review was done. AVM? Field review? The article did not unpack. That could matter. Also, I'm not defending bad appraisals, but if many area closer to 3%, that's not a huge spread.
The cost of lumber has increased, so a builder wants to charge more for a house. I get the sentiment, but the market may not be willing to pay more despite cost changes. Thoughts?
“One of the most pathetic—and dangerous—signs of our times is the growing number of individuals and groups who believe that no one can possibly disagree with them for any honest reason.”
The AC unit is brand new. The only problem is homes in the neighborhood are 17 years old, so everyone has an AC unit that is working well. I'm not saying it's worth nothing in this case, but there is a real dynamic where the market doesn't expect new AC units too. Thoughts?
@SacAppraiser Man, The Cure? How depressing... :-)
Getting my expert witness game face on. Wish me luck today.
@AMappraisals Wow, 38 offers is amazing! We don’t have anything like that here in Birmingham.
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