How to get on, stay on, and move to the top of AMCs’ appraiser panels
An increasing amount of appraisers are finding that appraisal management companies (AMCs) are becoming their best source of business thanks to the boom in demand for third-party involvement in the appraisal space.
And while it’s true that not all AMCs are created equal, being on an appraiser panel that rewards competent work can be advantageous for all parties involved.
Unfortunately, appraisers often feel left out in the dark not knowing what is expected of them from the AMCs they work for.
Each client has slightly different requirements; however, there are some universal things all AMCs are looking for that can help appraisers get on an appraiser panel, stay on an appraiser panel and ultimately thrive working for AMCs.
Are ‘smart’ homes the next big thing?
We’ve all heard about green housing and energy-efficient features becoming the norm over the next few years, but there is another housing trend on the horizon that could reshape the American home.
According to the 2014 State of the Smart Home Report from “smart home” software developer Icontrol Network, housing is on the verge of getting a sci-fi makeover.
The 2014 State of the Smart Home Report shows that there is a big push for housing features and appliances that can be controlled by the user remotely.
The report, which was generated from answers given by 932 respondents to a December 2013 survey and by another online survey in April of 1,000 respondents, depicts a buyer demographic hungry for both convenience and safety enabled by the push of a button.
Appraisal Q&A: Your USPAP questions answered
In an effort to help promote the Uniform Standards of Professional Appraisal Practice and dispel common myths about the appraisal profession, Valuation Review has partnered with experts from The Appraisal Foundation to answer your on-the-job questions about appraisal best practices and other commonly misunderstood areas of the appraisal world, such as USPAP guidelines. Keep reading to see the Foundation’s latest USPAP guidance in our Appraisal Q&A.
How an emerging green trend might affect home values
Appraisers are increasingly being called upon to understand how energy-efficient features affect the values of the properties they are appraising.
But according to an article published July 15 by NPR, a growing trend in green features is on the cusp of further complicating the valuation of residential properties.
Solar panels are growing in popularity thanks to the money they can save homeowners on their utility bills, but the installation of these panels can be upwards of $20,000. In order to afford these modern money savers, more homeowners are turning to leasing programs to outfit their homes.
How to ensure everyday compliance in appraising
Sometimes it’s the little things that add up to make a big difference in the quality of an appraisal report.
That was the message that Joshua Walitt had for attendees to his “Everyday Compliance Items in Your Appraisal Business” presentation at Valuation Expo in Las Vegas. Walitt is a certified residential appraiser who works for the Colorado-based firm Brownlee Appraisal Services.
Everything from increasing fees, adding clients, ensuring compliance and boosting efficiency can be aided by doubling down on the basics.
The problem is that appraisers often forget or overlook some of the simple guidelines that steer the profession.
Pennsylvania plaintiffs allege appraiser incompetence after ‘mental breakdown’
A federal district judge in Pennsylvania recently tossed out a lawsuit in which Philadelphia homeowners argued an appraisal on their home following damage from a fire should be set aside because their appraiser “suffered some form of mental breakdown which rendered him incompetent to adequately advocate on their behalf.”
The case is John Mitchell, et al., v. Safeco Insurance Co. of Illinois.
The facts of the case date back to December 2012, when plaintiffs John Mitchell and Sarah Klunk suffered fire, smoke and related damage to their Philadelphia home. When their insurer, Safeco Insurance Co. of Illinois, did not pay damages, Mitchell and Klunk filed a lawsuit in the Court of Common Pleas of Philadelphia County, seeking claims for breach of contract and bad faith.