Three weeks ago we told you about Fitch Ratings, an investment risk assessment firm, deciding to discount the value of residential mortgage backed securities in soft or weak markets where anything less than a full appraisal was used to value the collateral. The move has generated quite a bit of publicity for the appraisers vs. AVMs debate, some of which we noted last week. Click to read more
la mode, inc., the largest provider of software and technology to the real estate appraisal profession, announced today that it has begun construction of its first regional sales and training office in Orlando, Florida. The company indicated that the 5,000 square foot facility should be open in early September. Click to read more
We promised last week we'd continue our look at factors which may be artificially inflating property values. A more widespread and systemic factor may be seller concessions and other creative financing, and seller assisted down payments. Many of you wrote in last week to agree. Click to read more
Last week we wrote about how mortgage fraud is reported to be a prime mover behind artificially inflated property values in some local, fraud-prone areas. You agreed. We've never received more e-mail from our e-newsletter than we did last week, and far too many of you had fraud "war stories." Click to read more
Windows XP is being installed as the operating system on more and more PCs nationwide, including among a la mode customers. One of the first things your indefatigable newsletter editor noticed when he switched was that via his always-on Internet connection, he was suddenly very popular with somebody named "Messenger Service." "Messenger Service" popup windows — not browser window popup ads, those are different — hawk hot stocks, male enhancement, gambling sites and the like. And the most popular product they try to sell you: a way to eliminate XP spam popups! If this is happening to you, you know it (for one thing, you've come to dread the high-pitched, dull "thud" sound that accompanies a new popup). You may also have had a hard time finding instructions on how to eliminate them. If so, aren't you glad you're an a la mode e-newsletter reader? Because here is what you do: Click to read more
The first Gulf War brought us, among other things, the Hummer urban assault — er, utility vehicle. By some accounts, the war and occupation of Iraq this time around are going to bring us the "rugged notebook" computer. Sounds very manly! But do you need one? Click to read more
Nationwide, housing values grew 8.4 percent last year, and 7.6 percent the year before that, according to Freddie Mac. In the fourth quarter alone, the last quarter for which data has been released, the annualized property value appreciation rate was a staggering 17.8 percent. What's feeding this remarkable growth? It's a question that's been asked and theorized upon by investors, money managers, chairpersons of the Federal Reserve and homeowners. Clearly, low interest rates, government action to encourage homeownership, a plentiful supply of homes, and other economic and demographic factors are drivers of growth. Click to read more
Countrywide Home Loans, a top-three mortgage originator with designs on the top spot, has announced separate joint ventures with nine different real estate brokerages in 2004. Most recently, Countrywide announced it had lined up with Coldwell Banker Wachholz & Company in Montana to form Granite Peak Mortgage Services. The mortgage services venture will work closely with Coldwell Banker Wachholz & Company Realtors to develop personalized financing options from among more than 130 loan programs, the company said. All told, the lender has 15 similar arrangements around the country and about 35 more in the works. Click to read more
You spend a lot of time marketing yourself, consciously or unconsciously. But how often do you take a step back and think about what problems your home sellers have that you're in a unique position to solve? And how often do you look at your website and ask yourself if it's telling potential home sellers how you solve their problems? Here are some things you ought to make sure your website tells people, clearly and succinctly. Click to read more
The VA loan, and more specifically, the appraisal process it triggers, is getting the cold shoulder in Hampton Roads, an area regarded by some as the military capital of the nation, a disturbing piece in the Virginian-Pilot, Hampton Roads' daily, reported. Click to read more
Contact Adam Calvery for appraisal industry news and Kara Calderon for real estate agent or mortgage industry news. Or call 1-800-252-6633.
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