Richard Glesser's (richardglesser) Blog

As of February 15th, all FHA appraisal requests will have to conform to HVCC.  This means a heavy reliance on AMCs for appraisal services which have been ordered through good, local appraisers.  Expect a similar result as conventional markets have seen since HVCC whereas AMCs will use inexperienc...

I was trained in the wisdom that there are always comparables, perhaps not perfect or as similar as you (or the underwriter) would like, but there are still always comps.  After more than 25 years of appraising, I recently completed my first assignment where there were no comparable closed sales....

During the overwhelming sentiment against non-local appraisers, I have consistently made the point that the problem is not use of non-local appraisers, but rather incompetent appraisers who lack local knowledge which violates the Competency Requirement of USPAP.  However, a recent comment to one ...

With the numerous blogs and unlimited comments regarding poor appraisals by distant appraisers, I would like to share a small sampling of things you, as a Realtor, can do to give yourself an edge. 1) Make property access as convenient as possible.  The words "Vacant Lockbox" are akin to manna fro...

Over the 25+ years I've been appraising, one of the problem areas in formulating values is interpreting MLS data.  I realize the intent of an MLS listing is to attract buyers, thereby it behoves the writer to embellish the property to the greatest extent short of dishonesty.  And recognizing that...

The past 9 months since the enactment of the HVCC have been a period of great turmoil for appraisers and real estate agents alike.  As generally is the case, the government fix for a problem has not only left it unfixed, but created a landslide of new problems.  Appraisers who had built up longst...

At the beginning of 2010, the Alpena Board of Realtors (AAPI - Alpena, Alcona, Presque Isle) merged into the Water Wonderland Board located in Gaylord.  This consolidates much of the real estate activity for northern to northeast Michigan primarily including the following counties: Otsego, Crawfo...

Several times over my 25+ years in this business, I have contacted the original appraiser to get their insight, prospective, and direction if I found questionable issues in the report.  I absolutely believe that the identity of the original appraiser should be disclosed.  It is the responsibility...

Read an internet article that banks are now more agressively going after former owners on both defaults and short sales. Seems there are two parts to a short sale which often are not completed. First is getting the lender to release the property for sale at below loan value. However, many don't c...

With AMC's cropping up all over the place over the past couple years, you'd think someone would've gotten it right by now.  It's really quite simple and, with today's technology, easy to do.  First, hire good local appraisers at their local fees.  Add 10% for processing fee and the appraisal will...