Posts By: Nicole Crawford

Consumer Confidence on the Rise

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A recent report released by Prudential Real Estate found that the number of consumers that are positive about the residential market in 2014 has grown more favorable in December. Of those surveyed, 78 percent of consumers are optimistic toward the residential market in 2014. This is a 5-point increase from the previous quarter. The report… Read more »

Tips for Working with an AMC

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Here are some helpful tips for working with any Appraisal Management Company. At VMG we try to make your experience as pleasant and smooth as possible. We have someone that answers all calls during operating hours. In addition, we have Client Specialists and Quality Assurance Reviewers dedicated to each client so you always know exactly… Read more »

Change is in the Air; USPAP 2014-2015 – Part II

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The most impactful changes for most appraisers and clients are the written report options. Formerly in USPAP, there were three written report options for real and personal property appraisers to use: Commercial Self-Contained Appraisal Report, Commercial Summary Appraisal Report and Commercial Restricted Use Appraisal Report. Now there are only two written report options: Commercial Appraisal… Read more »

Change is in the Air; USPAP 2014-2015 – Part I

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Compliance is a high-profile issue facing all aspects of a real estate transaction today more so than any time in recent history. The scrutiny being placed on the loan process, documentation, approval, valuation of the asset and how the consumer is treated during the process is at the forefront and has caused some dramatic, and… Read more »

What is a “Complex” Residential Appraisal Assignment?

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There are many characteristics that can cause a property to be considered “Complex.” Another word for “Complex” would be “Atypical.” The definition of “Atypical” is: not typical: not usual or normal: Source for definition: http://www.merriam-webster.com/dictionary/atypical Properties that may be considered “Complex” could be: When a property differs from: The neighbourhood (this could be due to… Read more »

Topics for Appraisers to Avoid with Homeowners and Borrowers

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During an inspection, it’s common for an appraiser to start a conversation with the property owner while viewing the property. It’s a natural situation when silence can be awkward. Occasionally, it can be helpful for the appraiser to be able to ask questions regarding the property, such as learning the date of recent repairs or… Read more »

Google Glass: A Useful Tool for the Real Estate Appraisal Industry? Envision this!

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A new technology, Google Glass, is on the testing market as a new breakthrough from Google. Google Glass allows “wearers” to use a computer anywhere, hands free. Google Glass is worn as glasses; however there are no lens, nothing except a small computer device with an optical head-mounted display. What exactly does Google Glass do?… Read more »

House Members Seek One-Year Delay of Mortgage Rules Slated for January 2014 Implementation

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In a November 5th, 2013 letter to Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), one hundred and eighteen members of the U. S. House of Representatives expressed their concern about the implementation of mortgage rules that are to become effective in January. Of particular concern is the Ability to Repay and Qualified… Read more »

USPAP – What is it Exactly?

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USPAP is the acronym for Uniform Standards of Professional Appraisal Practice.  You often hear the term USPAP, either in the context that an appraisal must be USPAP compliant or that an appraiser needs to make revisions to a report in order for the report to be compliant with USPAP.   The specific certifications that are found… Read more »

GSE’s Finding Problems with Residential Appraisals

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Valuation Management Group is committed to keeping our clients and appraisers informed about the latest information relative to the appraisal industry. Freddie Mac and Fannie Mae began requiring the utilization of the Uniform Appraisal Dataset “UAD” 2 years ago to standardize the residential appraisal format. Fannie Mae recently conducted a sampling of appraisals and determined… Read more »