ProxyPics

Chicago, IL —ProxyPics, Inc—A new mobile app has been launched that allows anyone to request on-demand photos of anywhere, quickly and affordably.

In the real estate industry, there has always been a huge demand for timely photos of properties. Deals can be held up by the simple need for an up-to-date photo of a home. With ProxyPics new app anyone with a mobile phone can take a picture of anything you need immediately.

ProxyPics is a life changer for those requesting and taking pictures. ProxyPics is part of the gig economy revolution, allowing everyone to make money on their own schedule. Once you have the app, you will also be notified of available jobs in your area. You can earn extra money while walking to the coffee shop.

ProxyPics is a platform designed to make region-specific photography available to all. ProxyPics leverages GPS and digital payment technologies to match photo requests to the photo takers on a global scale. It is also set to disrupt entire industries, by making time-sensitive, affordable photos available on a grand scale. Real Estate, insurance, merchandising audits, and news media outlets are all areas that can greatly benefit from immediate photos of specific locations and subjects.

ProxyPics is available for both iOS and Android devices. Download it today and start making money with a click of a button. Visit www.proxypics.com/download to get started.

About ProxyPics
ProxyPics is the first-of-its-kind on-demand system for getting the location-specific media you need from wherever you are. Our simple-to-use platform creates an online marketplace, matching users needing geographic-based content with users near to the location ready to take your photo. Never before has it been quicker, cheaper, or simpler to get timely images and video from anywhere around the world.

Contact
Name: Luke Tomaszewski
Phone: 773.524.8468
Email: Luke@proxypics.com

Reposted from Appraisal Buzz; original post here

The Narrative Appraisal Report

With a narrative style, the reporter does have more flexibility in the structure of the appraisal report and more flexibility in how the information is presented.

But even still, there is a method to the madness of the narrative format, and generally speaking, it follows this format: the first part of the report is the introductory part. The second part is the part where the appraisal problem is identified, discussed, and presented. The data is presented, and then analyses and the conclusions are presented. Finally the addenda is presented, which contains any and all supporting information.

Prime real estate: Amazon now delivers tiny houses

Prime real estate: Amazon now delivers tiny houses
by Dani Vanderboegh Staff Writer

Got a pesky, post-college millennial living at home who just won’t let you be an empty nester? Or what about a parent who doesn’t want to live with you, but can’t live alone?

As seen over on the website Apartment Therapy, Amazon and MODS International have the answer for you, just in time for Christmas: a 320-square-foot shipping container home you can order right from Amazon’s website, alongside your paper towels and bulk kitty litter. For $36,000 plus $4,500 for freight shipping, you can kick your relatives to the curb and give them a home to live in.

Reminiscent of the Sears Catalogue homes of the early 20th century — except tiny — Amazon will ship this tiny home, complete with appliances, bath fixtures and plumbing, water and electric hookups — all you have to do is add it to your cart.

Just don’t look for a discount on Prime Day, as this 7,500-pound send will take longer than two days. Check it out for yourself in the slideshow below

Original Post Here

Industry Experts Agree: Housing Supply Too Low

Compete REA, Nana Smith selling agent, Nana Smith Stamford real estate

Last week, we reported on the lack of housing supply and how that was impacting the real estate market. Today, we want to let you know what other industry experts are saying.

Daren Blomquist, RealtyTrac Vice President:

“It’s kind of a seesaw right now between supply and demand. One of the reasons for fewer sales is not so much a lack of demand but a lack of supply, especially in the price range the majority of buyers were looking for.”

Diana Olick, CNBC’s Realty Check:

“Total sales are still running below expectations for the year. Don’t blame winter weather, though. Blame the lack of supply.”

Bill McBride, Founder of Calculated Risk:

“Inventory is still very low (down 0.5% year-over-year in February). This will be important to watch over the next month at the start of the spring buying season.”

Lawrence Yun, Chief Economist at the National Association of Realtors:

“Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels. Stronger price growth is a boon for homeowners looking to build additional equity.”

Realtor.com

“The National Housing Trend Report shows that inventory has decreased 10.9 percent year over year.”

And some experts are actually calling it a “seller’s market”

Forbes.com

“Tight inventory is a main reason the ball is still in the sellers’ court.”

Bill Banfield, VP of Quicken Loans:

“We’re a bit low on the supply-side which could force prices up for buyers, further hammering home that we’re in a seller’s market.”

Bottom Line

If you are debating putting your home on the market this year, now may be the time. The number of buyers ready and willing to make a purchase is at the highest level in years. Contact a local professional in your area to get the process started.

Path to Success

nana smith, nana smith listing agent, stamford ct real estate

Yes, the real estate industry is changing dramatically. It’s no longer about information; it’s about your ability to analyze that information so well that you can teach it to others. That’s your job now. That’s what the real estate industry is about now. The agents that embrace this New Market Reality are going to be the dominant agents moving forward. They are ones who will win the race! As you move forward into your real estate career, remember to plot out these three steps along the way:

• Step 1 – Continually educate yourself. Whether you use the KCM membership or some other educational means, know what’s going on and why it’s happening. As Albert Einstein said, “Wisdom is not a product of schooling but of the life-long attempt to acquire it.”

• Step 2 – Be able to communicate what you learn. Think of it as the ability to sing versus being on iTunes. If you can sing, but deliver your message on the equivalent of 8-track tapes, no one will listen to you. If, however, you can sing and you publish your music digitally (the modern format), you’ll have a much higher likelihood of reaching your audience. In real estate, this means making sure your client presentations are filled with impactful, relevant information that will help them gain clarity from the confusion in the market. Make your presentations overly visual and so simple that anyone—even a child—can understand what is happening in the current market. Graphs, charts, and infographics are great formats to use.

• Step 3 – Keeping current matters! You can have a tremendous understanding of key factors and wonderful visual materials to help make it easy for your clients, but if you’re not updating these things on a constant basis, you’re lost. How valuable would a physician be if she didn’t update her advice and recommendations based on the newest medical research? Don’t be caught with outdated information in your presentations and conversations. Do your homework and be on top of all the major news that will impact the current real estate market. For most families, buying or selling a home is the most important personal decision and possibly the largest financial decision they’ll ever make. They are looking for a true professional to help them through this process. Make sure they get one when you walk into their lives.

 

Confused about Collateral Underwriter?

CU images

What is really happening with CU? How does it affect you?

My Appraisal Today FREE email newsletter can help.
I report the facts, plus my opinions on what it means for you.

CU Facts:
– Not all loans go to Fannie Mae – Freddie, VA, FHA, jumbo, etc. do not.
– Lenders are not required to use CU.
– Fannie guidelines, including CU, are the minimum. Lenders can add their own.
– Gradual implementation of CU’s web based interface, which has the list of the “20 comps” suggested by CU. This information is not available to AMCs or appraisers.
– Some appraisers get few or no appraisal warning message and some get on a lot of them, depending on their clients.
– A new Fannie Letter (dated 2-2-15) specifically tells lenders to manually review the appraisal warnings before sending any to appraisers.
– CU sends out warning messages for adjustments on only 6 factors: GLA, lot size, view, condition, quality, and location. For example: GLA adjustment for (comp x) is smaller than peer and model adjustment.
– CU warning messages for “data consistency”: the 6 factors above. Plus, CU also looks at consistency, not adjustments, for 6 additional characteristics: quality rating, condition rating, total below grade areas, finished basement areas, above grade bedroom count, and above grade bathroom count. For example: “The condition rating for (comp x) is materially different than what has been reported by other appraisers.”
– Per Fannie, there is no direct relationship between AQM and CU. However, Fannie uses data analytics like those seen in CU to find patterns of behavior. AQM decisions are not based on automated results. Humans are required.

Original Article Here

Fannie Mae’s “Collateral Underwriter” Is Now Open For Business

Fannie Mae’s “Collateral Underwriter” Is Now Open For Business

As this newsletter is completed Monday p.m. at the start of the 2015 blizzard, “Collateral Underwriter” (CU) has taken effect. Here is a summary of some of the key points that appraisers need to know about Fannie Mae’s newly implemented “proprietary appraisal risk assessment application” which is intended to “support proactive management of appraisal quality”.

~The Uniform Appraisal Dataset (UAD) has collected data from over 12 million appraisals and 20 million transactions since 2011. Uniform Collateral Data Portal (UCDP) users, including lenders and appraisal management companies, who submit appraisals to Fannie Mae will have access to the various CU goodies such as risk scores, flags and messages.

~CU provides a risk score of from 1.0 to 5.0 with the so-called riskier appraisals receiving the higher grade and those deemed safer lower grades. Fannie Mae calculates that 97% of submitted appraisals can be so scored with geocoding limitations precluding 3%.

~CU will look at comparable sales used by appraisers and offer alternative choices. It will also utilize census blocks to analyze market conditions and review specific fields in an appraisal (i.e. condition rating) for consistency from one appraisal to the next.

~CU analyzes appraisals submitted in UAD format on Fannie Mae forms 1004 (Uniform Residential Appraisal Report) and 1073 (Individual Condominium Unit Appraisal Report). Other forms such as the 2055 (Exterior Only Inspection Residential Appraisal Report) and the 1025 (Small Residential Income Property Appraisal Report) are excluded.

~At this time, CU applies to Fannie Mae only not to Freddie Mac or FHA. It does not, of course, apply to private appraisal assignments nor to commercial appraisals.

“Explain, explain, explain”. Appraisal 101 teaches appraisers the importance of explaining their findings to the report readers in order to avoid misunderstanding. It would appears as though one of the unintended consequences of CU will be to increase the scope of work as appraisers try to anticipate the various “flags” that might be raised in a particular appraisal and address them proactively. While this may sound like a positive point to non-appraisers, experienced appraisers might find it difficult to justify taking the time to “explain away” non-selected comps, for instance. Will this lead to a rejection of mortgage appraisal work by experienced appraisers, leaving those less experienced appraisers performing a larger share? It is also anticipated that appraisals of more unique properties will by their very nature end up with riskier scores than those “cookie cutter” type appraisals, all else being equal, making these assignments even less attractive to many appraisers (particularly when offered by AMCs that don’t acknowledge-or offer reasonable compensation-with appraisal assignments requiring greater time and/or expertise).

On January 21st, FNC’s Steve Costello writing in the AppraisalPort Daily stated that “The first thing to understand is that there is no need to panic. There are lots of rumors floating around that CU will be the end of appraising as we know it. In reality, if you haven’t already been getting a lot of returns for corrections, you probably won’t notice much difference when this change takes place”.

This has been a common refrain whenever changes designed to improve appraisal quality (and add-often unnecessarily- to the scope of work) are implemented: that good appraisers won’t notice any difference. The only problem with this logic, however, is that good appraisers may be bolting for greener pastures.

Will the last appraiser to leave please turn out the lights?

A link to Fannie Mae’s “Collateral Underwriter (CU) FAQs” is found here: Original

Reverse Mortgage

Are you 62 years old or older?

Complete Real Estate Answers, Inc.

Is reverse mortgages right for you?

See article bellow with a great information on reverse mortgage types and helpful phone numbers to call to get more information.

Reverse Mortgage

Below is another link with detailed breakdown on:

Reverse Mortgage Guides

And below is totally different opinion on reverse mortgage. A well written article from 2012 but still worth reading since it is applicable:

The Hidden Truths About Reverse Mortgages

And of course this always is a good idea to seek legal advice.

You  also may want to appraise your house first so you know where market stands for you.

Call or email  Nana Smith

NanaGsmith@gmail.com

203-858-6727

C.R.E.A. – comment using this form; what is your opinion on reverse mortgages, or simply share your experience:

 

Appraising Summer Mornings

I love appraising early summer mornings. One goes on the field and one may see wonders.  This summer morning, in Greenwich, CT “back county” neighborhood has a special beauty in it. Roads are back roads that are quiet in the early mornings, it roams large, and is kept in a natural way… where one can spot a deer running through the fields.

This is what I saw yesterday while appraising in Greenwich, CT back county.

Complete Real Estate Answers, Inc. Greenwich, CT

complete real estate answers, inc, greenwich ct

 

Fellow appraisers comment on what do you like about being on the field using form bellow:

Contact C.R.E.A.

Email: info@CompleteREA.com

Phone: +1 203 858 6727

Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
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~ ~ C.R.E.A.