Marco Ruiz's Blog (3)

There is a Spanish proverb that says, "Regulations are for your enemies." There is currently a movement afoot to regulate AMCs. It is gaining momentum here in Florida and in other States, as well. As of this writing, AMCs are not regulated at all. Some have argued that it would not be in the appraisers' best interests to regulate AMCs. Their reasoning is that regulation will tend to limit the number of AMCs doing business. The more AMCs that are out there, the more they will have to compete wit… Continue

I often get asked, "Will short sales and foreclosures affect my appraisal?" The answer is a definite, "It depends." It depends if short sales, REO's, foreclosures, and pre-foreclosures, etc., (I'll collectively refer to these types of sales as "distressed sales") are a factor in your market. That is, if they are affecting the value of properties that would compete with yours for a buyer. For example, I recently appraised a town home where 15 comparable properties had sold in the past year and f… Continue

I recently completed 30 hours of continuing education to renew my appraiser's license. I sat in class with some 50 - 60 other appraisers for three fun-filled days of education and camaraderie. Believe it or not, I actually enjoy getting education in a classroom rather than online when it's practical to do so. I enjoy the opportunity to meet other appraisers and talk shop. Many of the appraisers I talked to told me that they hadn't received an order in weeks or even months. Many had already take… Continue