|
|||||
 
|
Editor’s note – Last month we published an article about HVCC which drew quite a few comments and responses….one such response was from veteran appraiser Paul Collins in which he shares his frustration with the state of the industry and the impact of lenders and legislation on his industry. Our thanks to Paul for allowing Continue reading… HVCC, AMC’s and the Appraisal Industry; a view from the inside Dennis Norman 07/17/10-Correction – This past week Congress passed H.R. 4173, the Wall Street Reform and Consumer Protection Act which is the most comprehensive reform to the banking industry since the Great Depression. The bill now awaits President Obamas signature which is expected to happen in the coming week. This is a Continue reading… Financial Reform Bill Kills HVCC; Helps Appraisers Dennis Norman Homeowners looking to upgrade or sell their home this spring should realize that not all remodeling and renovation projects will yield a full return on their investment, the president of the Appraisal Institute said today. “When it comes to home improvement projects, especially in today’s economy, not every renovation or Continue reading… Not All Home Improvements Lead to Higher Value Dennis Norman “Generally speaking, real estate agents and brokers are not independent or properly trained valuation specialists.” This was said in a letter from several appraiser organizations that was sent to Treasury Secretary Timothy Geithner last week. The letter, not actually signed by anyone, but instead just bearing the names of the following four appraiser Continue reading… Do Real Estate Agents and Brokers Know The Value of a Home? Dennis Norman Last month the U.S. House of Representatives passed H.R. 4173, the “Wall Street Reform and Consumer Protection Act of 2009″, which contained a provision that would “sunset”, or put an end to, the Home Valuation Code of Conduct, which, since it went into effect back in May of last year has been controversial to Continue reading… Pending Legislation would end HVCC Dennis Norman By: Dennis Norman The best available tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, (expires November 30) and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee yesterday. NAR Regional Vice President Joseph Continue reading… Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery; HVCC a problem, Says NAR Dennis Norman A surge in litigation tied to real estate appraisals, loan modifications and foreclosures contributed to a 54 percent increase in mortgage-related lawsuits, according to the second quarter Mortgage Litigation Report from MortgageDaily.com. During the second quarter, 125 cases were tracked, jumping from an already active 81 first quarter cases. The second quarter of 2008 had Continue reading… Appraisal, Loan Modification and Foreclosure Lawsuits Soar By: James R. MacCrate, MAI, CRE, ASA In the current unstable real estate market, we hear reports from the National Association of Realtors and many economists that the real estate residential housing market is stabilizing. This is based on several factors including recent price increases in several metropolitan markets, an increase in pending contracts of sale, Continue reading… Incentives, Concessions, Tax Credits and Tax Abatements Dennis Norman By: Dennis Norman To day I am finishing up with the final post of my E-View with Frank Gregoire, a Florida appraiser and author of Appraiser Active. Frank is often quoted as a source for nationally syndicated real estate columnists and appears as a Francois (Frank) K. Gregoire, IFA RAA speaker on appraisal and mortgage related Continue reading… The real estate market and HVCC; from an appraisers perspective – Final post in the series Dennis Norman By: Dennis Norman Yesterday I did the first post of a series of my E-View with Frank Gregoire, a Florida appraiser and author of Appraiser Active. Florida Governor Jeb Bush appointed Frank to the Florida Real Estate Appraisal Board where he served for eight years as a member, four of which as Chairman. Francois (Frank) K. Continue reading… The real estate market and HVCC; from an appraisers perspective – Part 2 of a series Dennis Norman By: Dennis Norman One of the hot topics in our industry now is the Home Valuation Code of Conduct (HVCC) which, according to REALTORS(R) have cost them sales due to low appraisals, and according to appraisers has resulted in degradation of appraisal quality as a result of appraisals being done by appraisers that are not Continue reading… The real estate market and HVCC; from an appraisers perspective – Part 1 of a series Charles McMillan 2009 President, NAR By: Dennis Norman National Association of REALTORS(R) 2009 President, Charles McMillansent an email to members stating “as a direct result of my recent meetings with the New York Attorney General’s office, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac this week issued new guidance to all lenders on the Continue reading… NAR’s President Charles McMillan’s meeting with NY AG re HVCC produces results By: Dennis Norman It seems the most common “deal-killer” today are issues related to appraisals. One frequent complaint from REALTORS(R) is that as a result of HVCC (Home Valuation Code of Conduct) and increased use of AMC’s (appraisal management companies) appraisers are being assigned to do appraisals on transactions in a market they are not familiar with Continue reading… Freddie Mac issues bulletin; addresses appraisal issues Dennis Norman By: Dennis Norman Since going into effect May1st the new Home Valuation Code of Conduct (HVCC) has caused controversy, been blamed for killing sales and seems it has everyone up in arms. A couple of weeks ago I did a post on another blog about a bill, H.R. 3044, that was introduced in the U.S. Continue reading… Bill to put moratorium on HVCC gains some momentum Dennis Norman By: Dennis Norman According to a nationwide survey conducted by the National Asssociation of Home Builders (NAHB) 26% of home builders are seeing signed sales contracts fall through the cracks because appraisals on their homes are coming in below the contract sales price. Continue reading… 26% of Home Builders are losing deals due to low appraisals |
|
|||
|
Connecting St. Louis Information St. Louis The author and owner of this site are providing the information on this web site for general information only. The information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided as is, with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose Powered by WordPress & the Atahualpa Theme by BytesForAll. Discuss on our WP Forum |
|||||
Recent Comments