Category Archives: Appraisal Practice

Important Info & Dates

February 5, 2019: This is the last day to submit comments to Federal Agencies concerning raising the minimum threshold for appraisals from $250,000 to $400,000. As of this writing, 275 comments have been received. Come up folks, there are 70,000 plus appraisers in this country, and less than 1% have commented. Please comment and encourage others… Read More »

Warning to Appraisers: AMC asking Appraisers to Violate State Law

Appraisers Beware! VaCAP has been informed an email has been sent to Virginia Appraisers from Xome Vender Manager, Adam Burg. The email, addressed to “undisclosed recipients,”  starts with  “Dear Virginia Appraisers.” The body of the email announces that SunTrust Bank has begun ordering a bifurcated valuation product with an interior inspection.   The appraiser is to… Read More »

2019 Legislative Update

Senate Bill No. 1168 Senate Bill 1168 has been introduced into the Virginia Senate by Senator Bill DeSteph and impacts Real Estate Appraisers and Appraisal Management Companies. The bill allows for a regulatory Board within the Department of Professional Occupation Regulations to “expunge” a disciplinary record of a licensee. See the bill in the Virginia… Read More »

The Appraiser and Marijuana

Landy Insurance published an article written by Jennifer L. Markowski, a partner at Peabody & Arnold LLP, titled “Marijuana and the Residential Appraiser.” Although Virginia has not legalized marijuana, the guidance within the article is worthy of sharing. Appraisers need to be cautious when describing or reporting marijuana growing on a property. “While the mere… Read More »

Reconsideration of Value

The Appraisal Foundation has released a White Paper on Requests for Reconsiderations   John Brenan, Director of Appraisal Issues, states:  “This paper is intended to provide information to assist appraisers, users of appraisal services, and others, with a greater awareness and understanding of issues surrounding the reconsideration process and offer some suggestions for those who wish… Read More »