Senate Passes Housing Bill--Does it have the Dodd Bond?

[Mztk1]

Many lenders that deal with such properties want the appraiser to be at least a certified in this case, regardless of whether or not the assignment is a FRT.

Also, why not specialize in this property type? The lenders that deal with the big dollars are a world away from the MBs and AMCs, and they pay a whooooole lot more than the run-of-the mill properties.

In Garden City on Long Island, Dave, this house is $1,000,000.

http://www.realtor.com/realestate/garden city-ny-11530-1100101278/

Where I am this 5,300sf Tudor colonial is the only sale in 2008 over $1,000,000, it was actually $1,100,000. (You have to watch the video)

http://tours4.vht.com/Viewer/PhotoGallery.aspx?ListingID=1148828&Style=IDX

And like most million dollar properties in my location (about 2 or 3 a year tops) it went cash.

 

[Mike Phillips]

Jim Klos -

I glanced at your posts. You don't sound like one of the whiners - it appears you realize you made your bed - it appears you are OK with it - so I'm OK with it. But don't ask me to support grandfathering anyone on anything, unless the request is in jest - we could have a beer or six and discuss it - I might agree if you happened to be a guitar player or a Jazz/Blues-music lover.

Long story - short version. I started in the appraisal business in FL in '82. RE salesman, then broker. I was in one of the first groups to be state-tested for Certification in '89; one of the first to become State-Certified Residential in '89. My original license number was 300-something. I left the business in '96 - let my license expire. Didn't do CE. Took a breather - worked in the Information Technology field - returned to UCF - did undergrad and grad work.

I decided I wanted to return to appraising in April 2001. I took AB 1 in 5/2001 from Bowles (sp?), took AB 2 in 7-8/2001 from Williamson. Took/passed state exam 9/2001. Had plenty of experience - filled out the log. The paperwork and running around; photos, get this notarized, fingerprints, all that took me about a day. I was Certified again by 11/2001. Now my current license number is 3000-something. Own foot is now permanently wedged in my backside for all to see. I'm OK with it.

April 2001 - November 2001 (actually October) to get it ALL done, except for experience, which I had. I worked as an appraiser office assistant until I received my license in the mail. Never in my career did I ever give a moments thought to the Licensed level. Why would I? Why would anyone consider it?

 

[Greg Bell]

I love the Licensed level .Certified sounds snooty , don't you thnk???

 

[Mike Phillips]

Friends -

I can understand someone in Nevada or Arizona or Kansas or in any state where population centers are far apart arguing about not being able to take Internet classes for pre-certification classes.

In Florida, prior to about 1/1/2008, one could find a live course provider located within a 1-hour drive being held on just about any day of the week except Sunday. True, many courses are not being offered now, but that was not the case prior to 1/1/2008.

 

[Michigan CG]

So far it only affect FHA appraisals. The question for some is how much of their work load is FHA and how will they supplement the loss of that work, and how much lending is going to be FHA for the next year or two.

 

[LuckyLucy48]

There still seems to be a mistrust of Internet courses - not only in the appraiser world but in the world in general. My neighbors son got the bulk of his BA degree "online" and was told by an employer hiring entry level/college degreed kids that they did not accept Internet Universities of any kind.
T

 

[Mztk1]

So far it only affect FHA appraisals. The question for some is how much of their work load is FHA and how will they supplement the loss of that work, and how much lending is going to be FHA for the next year or two.

I am licensed and FHA approved. I still receive FHA work.

 

[Michigan CG]

I am licensed and FHA approved. I still receive FHA work.

Takes effect October 1, 2008.

 

[Mztk1]

Jim Klos -

I glanced at your posts. You don't sound like one of the whiners - it appears you realize you made your bed - it appears you are OK with it - so I'm OK with it. But don't ask me to support grandfathering anyone on anything, unless the request is in jest - we could have a beer or six and discuss it - I might agree if you happened to be a guitar player or a Jazz/Blues-music lover.

I was a singer in several rock bands, does that qualify?

Long story - short version. I started in the appraisal business in FL in '82. RE salesman, then broker. I was in one of the first groups to be state-tested for Certification in '89; one of the first to become State-Certified Residential in '89. My original license number was 300-something. I left the business in '96 - let my license expire. Didn't do CE. Took a breather - worked in the Information Technology field - returned to UCF - did undergrad and grad work.

I decided I wanted to return to appraising in April 2001. I took AB 1 in 5/2001 from Bowles (sp?), took AB 2 in 7-8/2001 from Williamson. Took/passed state exam 9/2001. Had plenty of experience - filled out the log. The paperwork and running around; photos, get this notarized, fingerprints, all that took me about a day. I was Certified again by 11/2001. Now my current license number is 3000-something. Own foot is now permanently wedged in my backside for all to see. I'm OK with it.

I know the feeling. I decided to work on grad degrees here in FL instead of keeping my NJ license current, now that I am expired Jersey, I wish I hadn't let it go.

April 2001 - November 2001 (actually October) to get it ALL done, except for experience, which I had. I worked as an appraiser office assistant until I received my license in the mail. Never in my career did I ever give a moments thought to the Licensed level. Why would I? Why would anyone consider it?

The best appraiser experience I ever had was working in an appraisal office. I did the agent thing from '87 to '89 and appraised, went into mutual funds, wanting to get back in real estate so in '90 took a job working as an assistant in an appraisal company. I learned a lot just reviewing and going over the other appraiser's work, and got an excellent teacher to boot.

Like I said, I had no choice but to become licensed in Florida because at the last minute the state refused my 30 hr IFA Construction class under the guise that construction is not necessary knowledge for an appraiser. It was two weeks before I sat for the exam when I found out, and I had no time to fight it (which would take 90 days+), since I was in NJ and my wife had already moved with our two kids to Florida. I am not whining because frankly it has not hurt me a bit. Plus, if I get the motivation, I can have my log finished and in and be certified general in the next testing cycle. I really don't have a dog in the fight, but I honestly don't think a certified appraiser is any better on a job by job basis then a licensed appraiser. Personally, if I refinanced my house, I would much rather have a licensed or certified residential appraiser complete the assignment than a certified general appraiser, which is why I may never get my general since 95% of my work is residential and it is what I know best.

 

[Mike Phillips]

In all three of these States, the Licensee level is the largest catergory, it is not looked down upon as those from some other states, like Florida or Pennsylvania. In this region, the Licensee level is just looked at as someone who wishes to specialize in low end to mid-range housing. Many long time Licensees have no interest in doing high end homes, so they do not upgrade, it is not that they are any less professional or care less about their career, but rather a choice of what area they wish to specialize in. Up until this current crash, there was plenty of Licensee level work to allow one to make a good living since 1991 when licensing started in this area, so there was no pressure to upgrade.

I think our differing opinions on this matter mostly come from what State we reside in, I can see why those from Florida, Pennsylvania, etc., would hold different opinions. From a personal view, I always will judge someone by their quality of work, not what level of license or designation they hold, because work quality is the ultimate goal, some just take different paths getting there which is fine.

RE: your last sentence. Very kind thought. But who will you let in the door? Everyone who looks good? Should we let everyone practice for a few years and then decide who to keep? Where will you draw the line?

The Licensed category license is and was the shortest path to practicing unsupervised - that is exactly why it is the largest category in EVERY state that issues the license. Your argument it is because (Licensed) licensees do not/did not wish to do "complex" work is diplomatic at best. There is no requirement for the CR to do "complex" work, thus all one has to do is decline the work, if that is their preference.

You are quite right, "there was no pressure to upgrade." There is pressure now.

Side note: it looks to me like, (get this) the AI and other appraisal organizations know they must eliminate the Licensed category, thereby making Certified the "minimum" so they can push for a designation. It does appear the AI has finally made some headway, probably because the lenders can't whine about a shortgage of appraiser right now.

From an ethical, as opposed to a selfish, strictly supply and demand standpoint, obtaining a license (Licensed) to practice unsupervised with as little as 12 months OJT is NOT sufficient to protect the public trust. Never was - not by a longshot.

I don't look down on anyone - but I tell it like it is. The AQB has spoken, finally, and Certification is the new minimum. Frankly, that was the intention from the very beginning; the Licensed category was created to shut the whiners up, both appraisers and lenders. The former had problems meeting the requirements for Certification and the latter argued without it there would be a shortgage of appraisers. That is the way it was in '89.