This blog has excerpts from my FREE appraiser email newsletter, sent out almost every week since June, 1994. I started with 6 subscribers on Compuserve. Now it is up to almost 14,000 subscribers!! To subscribe to the free email newsletters and get them them when they first come out,, go to www.appraisaltoday.com and sign up in the big Yellow Box!!
I have been publishing a paid Appraisal Today monthly newsletter since June, 1992 with in-depth articles on topics important to appraisers. Click below for more info!!
Are you or your firm planning on any hiring trainees within the next 5 years?
My comment: I wonder what the response would be if lenders allowed trainees to sign on their own… remember the mortgage broker days? I sure wish there was a survey on trainee commercial appraisers as I see lots of them where I am. I am hearing that it is back to the “old days” when fee appraisers only hired relatives (because most appraisers were staff appraisers at lenders).
1. Noise, noise, noise. Double street and sidewalk frontage means double the noise from pedestrian and car traffic. Pull up a chair and crack open a cold one; I’m just gettin’ started.
2. Unconventional configurations. For example, the front yard of a home on a corner lot is usually bigger than the back, and the garage may be located around the corner.
My comment: I have always wondered why there was a checkbox on the 1004 for corner lot… a mystery to me;> Maybe it was a factor in the 1960s/1970s, when the first forms were developed and used. Maybe it has been taken off some of the forms…
Click here to see the other 19 reasons!!
What you need to know and which FHA documents you need to read!!
Available in my paid August Appraisal Today August newsletter!!
Many appraisers say they will quit doing FHA appraisals.
This means less competition for you!!
There is lots of confusion and mis-information about the changes. Some say there is too much required and others say there have not been many changes. What about attic, crawl space, and appliance inspections?
The author, Doug Smith, SRA, interviewed an FHA executive to find out what is really happening.
There are different FHA documents you need to read, not just Handbook 4000.1. It is very confusing, but Doug tells you what information you need and where to get it. He includes:
- Which guide to use for what, and links to the reference material, including FAQs, Webinars, and SF Housing Appraisal Report and Data Delivery Guide
- How to keep updated on changes
- Attic, crawl space, and appliance inspections
- Energy efficient items contributory value
- Highest and best use – when all 4 criteria are required
- FHA – UAD and Fannie guidelines
And lots more information.
Another great survey from www.appraisalport.com !!
My comments: Whether or not there will be increased time (and possible liability issues) required is controversial. Some say there are more requirements, others say not much has changed. My favorite response to the poll is “What changes?” ;>
In the May 2015 paid Appraisal Today June newsletter, Doug Smith’s article discussed the changes: “What’s Up with FHA’s New Manual 4000.1? More Scope Creep? The pluses and minuses of the changes in the manual”. One of the hot topics is about inspecting attic and crawl spaces. For more info on the paid newsletter, click the banner ad below.
FHA Single Family Housing Policy
Handbook (HUD Handbook 4000.1
Information Page Link:
New FHA Appraisal Report and Delivery Guide
It goes step-by-step through the URAR and states what is expected in each section
Be sure that any FHA classes you take include this new Guide!!