TUESDAY, AUGUST 23, 2016
Wanted Dead or Alive: Nominations are being accepted for both the Worst AMC Alive & the Worst Vampire AMC (Dead/Ceased Operations)
AppraiserNews & AppraiserHelp proudly announce that nominations are being accepted for the title of Worst AMC Alive and the Worst Vampire AMC!
Nominations for the three finalists in each category will be accepted until September 2nd. Votes can be made in two ways:
1) By email: Bill@AppraiserHelp.com
2) On Twitter: Use the hashtag #WorstAMCAlive or #WorstVampireAMC and make your nomination. You can also mention @AppraiserNews to vote or discuss the reasons for your choice. (For the majority of appraisers who have not familiarized themselves with Twitter, this might be an interesting time to check it out).
Obviously, there are so, so many worthy candidates*. While ballot stuffing is not allowed (or possible), many appraisers will feel such passion for their selection that multiple votes will be permitted (within reason). Don’t go overboard and please don’t sent automated responses: these will be disallowed. A comment about why your candidate is the most worthy might just convince us to allow an additional vote.
Unless you instruct us otherwise, identities of all voters will remain confidential: we understand that many appraisers are fearful of losing future business if their names are mentioned. In fact, some of the most worthy candidates for WorstAMCAlive are likely to pay attention to this voting, just one of the things that makes them the worst of the worst! Please remember, however, that if you make your vote on Twitter it will be visible to all.
One last note: In folklore, vampires are understood to be reanimated corpses that come back to life and survive by sucking the blood of living people. While our #WorstVampireAMC category is designed for those AMCs no longer operational, it is easy to see how an appraiser might get confused by the word vampire and find it fitting for an AMC that is currently operational. For this reason, we will also accept votes for AMCs currently functioning in the #WorstVampireAMC category!
Some day, hopefully some day in the not too distant future, all AMCs will be in the Ceased Operations category anyway when this broken system is replaced!
The finalists in each category will be announced in our next newsletter on September 6th, the day after Labor Day.
*We apologize to the many AMCs that conduct their business in a professional manner: they are the “good apples” in a barrel of mostly “bad apples”. They know who they are (and we have named them in the past) and they know why we appraisers have to blow off some steam to keep our sanity in this crazy system!
Brian Coester is in the news!
Brian Coester and his firm Coester VMS have reportedly been sued by a former employee who alleges that a non-disclosure agreement produced by Mr. Coester is fraudulent. Mr. Coester denies this accusation by the former employee, Robert Scheer, who alleges in the suit that: “CVMS and Mr. Coester have a history and pattern of engaging in fraudulent conduct which has led to their reputation for dishonesty in the appraisal management company industry”.
Some say that all publicity is good publicity. While this might not always be the case, it certainly gives Mr. Coester’s firm a leg up in the competition for Worst AMC Alive!
Appraiser State Coalition News: Attention New York Appraisers
As a New York appraiser, I am pleased to announce that several of us are laying the groundwork for an appraiser coalition in Governor Andrew Cuomo’s favorite state! Rebecca Jones, Jonathan Miller and myself are working together to help establish an organization of professional appraisers seeking to advancing our profession in New York. We are not looking to promote any partisan agenda but simply are hoping to improve communication within the appraisal community and present a united voice on issues important to appraisers with legislative bodies, government agencies and other organizations.
New York appraisers who are interested in joining up can contact us as follows:
Rebecca Jones: firstname.lastname@example.org
Jonathan Miller: email@example.com
Bill Collins: firstname.lastname@example.org
Recent Real Estate Reports
The Commerce Department announced earlier today that new home sales jumped by 12.4% in July to a seasonally adjusted annual rate of 654,000 homes, the highest level since October of 2007. While sales were flat in the West and nearly so (+1.2%) in the Midwest, new home sales surged by 40.0% in the Northeast and by 18.1% in the South. The median price for a new home fell by 0.5% from one year ago to $294,600.
Another report today by the National Association of Home Builders and the Census Bureau indicated that the size of homes shrunk for the first time since the recession with the median gross living area declining by 73 square feet.
Zillow reported last Thursday that the number of “underwater” homeowners (those homeowners with a mortgage who owed more than their homes are worth) fell to 12%, down from 14% one year ago and more than 30% after the “crash” of the real estate and financial markets.
RedStone Advanced Analytics from Bradford Technologies
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Appraiser Help’s 2015 Directory of AMCs and National Appraisal Companies is Available for Download at a reduced price!
To help appraisers evaluate how AMCs will work for their appraisal practices, we have compiled this expanded directory of over 275 AMCs and National Appraisal Companies, listing complete, contact information and other details for each company.
If you’re looking to maintain or expand your mortgage appraisal practice, our Directory of Appraisal Management and National Appraisal Companies is a great place to start. Order it today at the reduced price of $49.99 and download it immediately!
Please visit our website now to make your purchase securely or contact us at (877) 434-2825 for more information on this comprehensive directory!
Rates & Dates
Freddie Mac, the Mortgage Brokers Association (MBA) and HSH Market Trends reported declining mortgage interest rates last week.
In their survey on August 4th, Freddie Mac reported that 30-year fixed-rate mortgages fell to 3.43% from 3.48% the previous week. They also noted that last year at this time the 30-year rate was at 3.91%.
The MBA reported on August 3rd (for the week ending July 29th) that 30-year rates with conforming loan balances ($417,000 or less) declined from 3.69% to 3.67%. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) moved downward from 3.67% to 3.65% and rates for FHA backed mortgages also fell, from 3.56% to 3.54%.
Mortgage applications declined by 3.5% from the previous period. Refinance applications as a percentage of all applications moved down from 61.1% to 60.7%. The FHA share of applications declined to 9.4% from 10.1% and the VA rose from 11.9% to 12.1%.
On August 5th, HSH.com Market Trends reported that 30-year mortgage rates dropped from 3.60% to 3.55% while rates for FHA-backed mortgages also fell, moving from 3.44% to 3.42%.
Additional information from Freddie Mac can be found by going to: Primary Mortgage Market Survey PMMS – Freddie Mac
Additional information from the Mortgage Bankers Association can be found by going to their site at: Research and Forecasts – Mortgage Bankers Association
Additional information from HSH can be found by going to: HSH.Com
Angie would first like to provide the answer to her last contest: Robin Williams was the author of all three quotes: “In America they really do mythologize people when they die;” “You’re only given one little spark of madness. You mustn’t lose it”; and “If it’s the Psychic Network why do they need a phone number?”
Angie is too busy with the World’s Worst AMC election and will not have a contest this week.
Appraiser Help has Released its 2015 Directory of AMC’s and National Appraisal Companies. Click the link above to learn more and to download your copy today!
Tell us what you think!
We invite your responses to any of the issues raised in this newsletter. Please e-mail us at: email@example.com with your thoughts!
We really hope you find our newsletter to be informative! If you have any input on future topics for discussion, please email me your questions and I will do my best to address them in the next issue. If you want to look back at past issues you can see our archive at www.appraisernews.com
Bill Collins, Appraiser Help Inc.
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