Comments for The Wallace & Kelly Real Estate Blog http://wallaceandkelly.com "All Things Real Estate and Some Other Stuff Too..." Wed, 12 Oct 2011 15:29:57 -0700 hourly 1 http://wordpress.org/?v=3.1.3 Comment on Appraisals and the Catch 22 by Mike http://wallaceandkelly.com/2010/03/02/appraisals-and-the-catch-22/comment-page-1/#comment-233 Mike Wed, 12 Oct 2011 15:29:57 +0000 http://wallaceandkelly.com/?p=481#comment-233 Hi Joyce, Thank you so much for your comment. I am pretty sure we are both saying the same thing. Back in March of '10 when this was written we were just beginning to experience firsthand what the big financial institutions were doing to the appraisers and how they were influencing where the market was in terms of value in a given area of the U.S. I was trying to say that the appraisers should be allowed to come in at market value..... Not at an inflated value or an artificially deflated value. I have worked with many competent appraisers over the years and am witnessing today, a good year and few months later, these appraisers turning to other means of income due to the decreased amount of the appraisal fee that they receive after the supposed HVCC management company takes their cut, which to me is a very sad thing that is happening to the industry. Thank you for reading, your input is valuable. <strong>Kelly...</strong> Hi Joyce,

Thank you so much for your comment. I am pretty sure we are both saying the same thing. Back in March of ’10 when this was written we were just beginning to experience firsthand what the big financial institutions were doing to the appraisers and how they were influencing where the market was in terms of value in a given area of the U.S.

I was trying to say that the appraisers should be allowed to come in at market value….. Not at an inflated value or an artificially deflated value.

I have worked with many competent appraisers over the years and am witnessing today, a good year and few months later, these appraisers turning to other means of income due to the decreased amount of the appraisal fee that they receive after the supposed HVCC management company takes their cut, which to me is a very sad thing that is happening to the industry.

Thank you for reading, your input is valuable.

Kelly…

]]> Comment on Appraisals and the Catch 22 by Joyce J. Potts, SRA http://wallaceandkelly.com/2010/03/02/appraisals-and-the-catch-22/comment-page-1/#comment-232 Joyce J. Potts, SRA Wed, 12 Oct 2011 00:08:38 +0000 http://wallaceandkelly.com/?p=481#comment-232 Get your head out of your short term commission check and start looking at the long term consequences. There's no catch 22. It's about integrity and appraiser independence. The HIGH appraisal is NOT always the best appraisal. Haven't the losses since 2007 attested to that fact? Yes, the HVCC that is now incorporated into Dodd Frank has been hijacked by AMC's that are owned by the big lenders. Everyone is paying the price and I don't see it getting any better. Get your head out of your short term commission check and start looking at the long term consequences. There’s no catch 22. It’s about integrity and appraiser independence. The HIGH appraisal is NOT always the best appraisal. Haven’t the losses since 2007 attested to that fact? Yes, the HVCC that is now incorporated into Dodd Frank has been hijacked by AMC’s that are owned by the big lenders. Everyone is paying the price and I don’t see it getting any better.

]]> Comment on Special Rules for Members of the Military by Business Man http://wallaceandkelly.com/2010/04/12/special-rules-for-members-of-the-military-the-foreign-service/comment-page-1/#comment-231 Business Man Tue, 11 May 2010 15:30:56 +0000 http://wallaceandkelly.com/?p=506#comment-231 useful information. It’s the best useful information. It’s the best

]]> Comment on Be proactive. Before it’s too late by Tony Orlando http://wallaceandkelly.com/2010/03/22/be-proactive-before-its-too-late/comment-page-1/#comment-227 Tony Orlando Mon, 22 Mar 2010 14:00:20 +0000 http://wallaceandkelly.com/?p=500#comment-227 Just wanted to say HI. I found your blog a few days ago on Technorati and have been reading it over the past few days. Just wanted to say HI. I found your blog a few days ago on Technorati and have been reading it over the past few days.

]]> Comment on Be proactive. Before it’s too late by Tony Orlando http://wallaceandkelly.com/2010/03/22/be-proactive-before-its-too-late/comment-page-1/#comment-226 Tony Orlando Mon, 22 Mar 2010 13:44:21 +0000 http://wallaceandkelly.com/?p=500#comment-226 Hello. I like your site and wanted to know if you would be interested in exchanging blogroll links. Thanks in advance Hello.

I like your site and wanted to know if you would be interested in exchanging blogroll links.

Thanks in advance

]]> Comment on America’s slow return to Common Sense or Hud relaxes stance with FHA 90 day flip rule by Mike http://wallaceandkelly.com/2010/01/18/americas-slow-return-to-common-sense-or-hud-relaxes-stance-with-fha-90-day-flip-rule/comment-page-1/#comment-225 Mike Tue, 16 Mar 2010 21:28:18 +0000 http://wallaceandkelly.com/?p=406#comment-225 But, they don't want the investor to make too much money on their flip. But, they don’t want the investor to make too much money on their flip.

]]> Comment on It may be a scam if… by Mike Harmon http://wallaceandkelly.com/2010/03/05/it-may-be-a-scam-if/comment-page-1/#comment-221 Mike Harmon Fri, 05 Mar 2010 17:16:51 +0000 http://wallaceandkelly.com/2010/03/05/it-may-be-a-scam-if/#comment-221 I've been reading along for a while now. I just wanted to drop you a comment to say keep up the good work. I’ve been reading along for a while now. I just wanted to drop you a comment to say keep up the good work.

]]> Comment on Appraisals and the Catch 22 by patrick http://wallaceandkelly.com/2010/03/02/appraisals-and-the-catch-22/comment-page-1/#comment-219 patrick Tue, 02 Mar 2010 16:59:15 +0000 http://wallaceandkelly.com/?p=481#comment-219 Right now we have the "perfect storm".When you use the term "lender" in this market, one never knows if you're referring to the seller or the buyer's new mortgage company. It's very confusing when you're talking about a real estate transaction to keep the players straight. Another confusing thing (one of many) is that the appraisers are now supposed to be sepaprated from the lenders (via the HVCC rules) which is hysterical because these "middle men" firms are now owned by the banks(lenders) who are supposed to protect them from themselves. Something is very wrong !!!!!! Right now we have the “perfect storm”.When you use the term “lender” in this market, one never knows if you’re referring to the seller or the buyer’s new mortgage company. It’s very confusing when you’re talking about a real estate transaction to keep the players straight. Another confusing thing (one of many) is that the appraisers are now supposed to be sepaprated from the lenders (via the HVCC rules) which is hysterical because these “middle men” firms are now owned by the banks(lenders) who are supposed to protect them from themselves. Something is very wrong !!!!!!

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by chuck http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-216 chuck Wed, 24 Feb 2010 16:48:26 +0000 http://wallaceandkelly.com/?p=469#comment-216 1st for those who have been around long enough appraisng use to be a profession prior to licensing. back hen you had to earn your way on a lenders list and all reports were of good quality, or you were taking off the list and out of work. FHA appraisers were selected at random by computer for appraisers located in that location. With licensing all appraisers were approved for all lists unless taken off. then HVCC the 1st version was somewhat good once the Gov took over fannie mae it didnt take long. first they delayed the date so that the lenders could feed the Senators and congressmans campaign funds to have a 2nd revision which really gives the lenders the hen house with their own AMC'S. Now 5-7 States are having AMC'S get licensed some fees are as high as $1,000, so figure out how much more the cost of appraisals will be. I can remember back before the first bank bust, and licensing that most of the $$ in defaults were due to commercial lending, and yes laws were in place to prosecute those that did wrong, few were ever taken to court. Appraisers are now in a service industry, I dont even consider it a profession any more. 1st for those who have been around long enough appraisng use to be a profession prior to licensing. back hen you had to earn your way on a lenders list and all reports were of good quality, or you were taking off the list and out of work. FHA appraisers were selected at random by computer for appraisers located in that location. With licensing all appraisers were approved for all lists unless taken off.
then HVCC the 1st version was somewhat good once the Gov took over fannie mae it didnt take long. first they delayed the date so that the lenders could feed the Senators and congressmans campaign funds to have a 2nd revision which really gives the lenders the hen house with their own AMC’S.
Now 5-7 States are having AMC’S get licensed some fees are as high as $1,000, so figure out how much more the cost of appraisals will be.
I can remember back before the first bank bust, and licensing that most of the $$ in defaults were due to commercial lending, and yes laws were in place to prosecute those that did wrong, few were ever taken to court.
Appraisers are now in a service industry, I dont even consider it a profession any more.

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by Mike http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-215 Mike Tue, 23 Feb 2010 23:51:22 +0000 http://wallaceandkelly.com/?p=469#comment-215 David, Thank you for the info and I am sure we will all work our way out of this mess. There are a few local lenders that have found good solutions to the problem and unfortunately not everyone who is buying uses the same lender. It seems so far that the biggest problem with HVCC lies with the larger commercial banks, which in my opinion lost touch with the human part of doing business a long time ago. Well other than their ads on TV that is. :) David,
Thank you for the info and I am sure we will all work our way out of this mess. There are a few local lenders that have found good solutions to the problem and unfortunately not everyone who is buying uses the same lender. It seems so far that the biggest problem with HVCC lies with the larger commercial banks, which in my opinion lost touch with the human part of doing business a long time ago. Well other than their ads on TV that is. :)

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