Size Matters…
Square Footage & Home Values …
Fannie Mae & Hamp Thomas – Quotes & Opinions
What can Fannie Mae do to prove they want to work with the appraisal industry?
Fannie Mae’s Secret Mission? Eliminate the Appraisal Industry
massive devastation to appraisers across the country
ANSI and “Who Knows What”
Before 2022, appraisal reports contained an assortment of square footage details reported from different sources. The subject was measured by the “who knows what” method with different methodologies used all across the country. The comparables were a combination of...
ANSI
Starting April 1, 2022 Fannie Mae begins mandating the ANSI standard. This is a great time to read the standard, read a book, or take a class to refresh your knowledge of ANSI. The biggest mistake we've found to date is that people make a one line disclosure to show...
Is ANSI for Appraisers Really the Answer?
Is ANSI for Appraisers Really the Answer? The real estate industry has a square footage credibility problem. ANSI has been out since 1996 with no new pages added and very few changes. In a constantly changing industry with new home styles and designs, change is a...
Another nail in the coffin for appraisers. Death to consumer protection and mortgage investment security.
In one swoop of the pen, the Federal Deposit Insurance Commission (FDIC) Board of Directors, decided that home mortgages will no longer need to obtain an appraisal for loans under $400,000. With this increased threshold, apx. 72-75% of all home mortgage transactions...
MiniSplits and GLA
So, you find a large Bonus Room above the garage and it is heated and cooled with a large hotel type system mounted in the wall. You wonder to yourself, is this space the same as if it had a traditional heat pump with vents in the floor or ceiling? The owner tells you...
Texas Square Footage Case a Huge Loss for Consumers
When it comes to Realtors® and square footage, they have the public totally fooled. The mystery over measuring square footage allows them to price homes based on inaccurate square footage, using their all-powerful price-per-square-foot formula, and no one seems to be...
Time to Start Suing Realtors® for Inaccurate Square Footage
Yes, it’s time for real estate agents to start accepting responsibility for providing accurate square footage details to all prospective buyers, other agents and to appraisers who all depend on the data they provide. No agent is required by law to measure a house....
Inspectors, Home Appraisals & Hybrids, Virginia Appraisal Board
Inaccurate square footage is already an issue that hurts the home-buying public. The lack of a nationally mandated measurement standard creates confusion and disagreement among all those that provide this information for the public. The inconsistencies among agents...
Bifurcated – Another Nail in the Appraisal Industry’s Coffin
Bifurcated appraisals are just one more step in a master plan to eliminate appraisers from the mortgage lending process. At the end of all the discussions, any changes to the appraisal industry are not about improving the process but about who profits from that...
Fannie Mae – Here’s Your Waiver – Here’s Your Sign
Swim at your own risk. No life-guard on duty. That’s what Fannie Mae is telling consumers. This runaway train called Big Data looks like it will only be stopped by the next mortgage crisis and big banking bailout. How many billions of taxpayer money will it take,...
FDIC – loans below $400,000 are not important?
The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve are proposing to eliminate the appraisal requirement on certain home sales of $400,000 and below, increasing the appraisal threshold...
The Measurement Standard Hypocrites
Hypocrites, yes what else should we call them? There’s a great deal of talk about protecting the consumer, but home buyers are being cheated every day by the absence of a nationally mandated measurement standard. No opinion, it’s a fact. The National Association of...
Consumer protection is lost in the rush to commissions
We hear all about low appraisals, but we never seem to hear about homes that are flat-out over priced, often by an agent who wants to prove they are smarter than everyone else and will take advantage of any unusual feature or circumstance to push the value beyond any...
Tax Values Just as Accurate as AVMs?
The battles rage on to decide who will take over the automated valuation process. There are big companies lining up to take over this massive profit arena. And, make no mistake, it’s all about the money. At the end of every discussion about AVMs verses traditional...
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