DAY 2

DAY 2 -REFLECTIONS OF MONDAY NOVEMBER 17TH

GOOD THING:

Well, it was one of those days…raining cats and dogs, dark and cold outside. good thing my office was warm. Everybody showed up for work, even Bonnie drove from Hamden CT. Office was busy and it felt good. It was so busy that at some point I had to leave just to have room.

BAD THING:    

Not sure where to start.

Proteck emailed for revision.  Comment which I was sure should have been there they were swearing was not there. I did this repot 5 days back and in my mind it was done and over. It took me some time to open it, remember that day office was very busy… so once I opened  it I sew they were right ( as much as it’s hard to admit, that AMC may be right once in a while)  comment was not there! But I knew I wrote it, since I had draft version of it in my word documents. So what happened while converting  file to MISMO file comment got wiped out from report. I though OK, as much as I hate going back to reports for revisions, I thought this is not a big deal… however …… how little did I know!

I added  the comment in again, I was going through the  report again, once more to double check that everything else was there, all of the sadden to my total horror, I saw photos were gone, 12 pages of photo addendum which were there when I unsigned report, were all gone! …and there was no autosave file again. I called WCA with the slight hope that they might locate file, but they could not find my photo pages.  It was raining cats and dogs, I was sitting at the computer putting back photos when Monica returned from lunch break.

As she sat at another station, she announced : “there are no comments on this machine .” As a matter of fact there were no comments on any of the machines. We decided to reboot the server and all machines, but we forgot that Maria, our bookkeeper was also working off of the server in the other room, when we rebooted the machines, Maria was almost crying with the fear of the fact that she might just lost all her work.

Nothing helped. Monica decided to call WCA, I had to leave.

Nanaapp

Growth and Development

For the next 30 days I have decided to keep a log of my appraisal
work day. Something like a  dairy.CREA, CompleteREA, Real Estate
I will be keeping a log of the good things that happened that day and will log what bad
things happened that day.

After 30 days I will compare what the good and bad things were. How many good things and
bad things happened during this 30 day period of time? I will notice whether
there are repetitious good and bad occurrences; if so I will take notice of
what they are and I will question why they occurred.

Hopefully, I can go on and do a quarter of the year as a next step.

My objective with this is to help with the growth and development of my business.

I argue YOU too to join me, partner with me in this endeavor. At the end of the
month we can compare all “good” and all “bad” which happened, brainstorm
together on how to eliminate the “bad” and have better “good” for the rest of
our business careers and lives.

Is it possible? Is it viable? I do not know, but I would like to try.

…and yes, I will be one day behind, so that the day should have passed, in
order to evaluate the particulars my business day.

Follow my blog to cheer up! Life is easier when one has a partner.

Nana
_______

The Appraisal Institute

The Appraisal Institute has published guidance to help appraisers learn what evaluations are, when they are used and who can prepare them. The Appraisal Institute’s “Guide Note 13: Performing Evaluations of Real Property Collateral for Lenders” addresses how appraisers should prepare an evaluation for a lender and comply with the Uniform Standards of Professional Appraisal Practice (USPAP).crea, complete rea, completerea, stamford ct

The Guide Note states, “Federally insured lending institutions in the United States are subject to regulations regarding real estate appraisals. For lending transactions involving real estate, a lender must obtain an appraisal from a state licensed or certified appraiser. There are 12 exemptions from this requirement. For three of these exemptions, in lieu of an appraisal by a licensed or certified appraiser the lender may obtain an evaluation.”

Evaluations, per the Interagency Appraisal and Evaluation Guidelines, are market value opinions that may be provided by individuals who are not state licensed or certified appraisers. However, state licensed and certified appraisers may provide them, according to the Appraisal Institute’s Guide Note. The interagency guidelines also state that an evaluation must be based on a valuation method that is appropriate for a transaction rather than the method that renders the highest value, lowest cost or fastest turnaround time.

The Appraisal Institute’s Guide Note states that USPAP allows an appraiser to adjust the scope of work for a valuation assignment as long as the resultant value opinion is credible, given the intended use. When preparing an evaluation, the appraiser may consider narrowing the scope of work as appropriate.

According to the interagency guidelines, a lender may obtain an evaluation in lieu of an appraisal when the loan transaction: Has a transaction value equal to or less than $250,000; is a business loan with a transaction value equal to or less than the business loan threshold of $1 million, and is not dependent on the sale of, or rental income derived from, real estate and the primary source of repayment; or involves an existing extension of credit at the lending institution, provided that there has been no obvious and material change in market conditions or physical aspects of the property that threaten the adequacy of the institution’s real estate collateral protection after the transaction, even with the advancement of new monies; or there is no advancement of new monies other than funds necessary to cover reasonable closing costs.

Phone: +1 203 858 6727

Office: +1 203 212 3788

Complete Real Estate Answers, Inc.
27 Fifth Street, 2nd Floor, Stamford CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
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The REO or Short Sale Appraisal

nana smith

I have 15-years’ experience as a residential appraiser for Fairfield County, Connecticut. I have extensive, and historically, excellent experience in Real Estate Owned (REO) appraisals for both lenders and various other.

My areas of expertise are mostly comprised in the Lower portion of Fairfield County, particularly; Stamford, Norwalk, Greenwich, New Canaan, Darien, Fairfield and Bridgeport.

Having based my company locally in Stamford, CT has afforded me the ability to stay on top of the current market in Lower Fairfield County as well as gaining comprehensive knowledge of the local REO market.

I have working knowledge of expenses acquired through residential single-family, in both owner-occupied and leased properties.

Along with being a certified appraiser, I am also a licensed real estate agent, which keeps me up to date on current market conditions.

Please feel free to contact us.

Call or email  Nana Smith

NanaGsmith@gmail.com

203-858-6727

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Investing in Real Estate

Complete Real Estate Answers InvestingShift your minds focus from spending to investing.

The wealthy and successful do not spend their money…

…they invest it.

They realize that North American tax laws favor investing over spending.

If you buy a house you cannot write it off for tax breaks.

The wealthy in contrast would invest in an apartment building that produces cash flow, appreciates in value and will offer write offs year, after year, after year.

Most of you will go out and buy cars for comfort and style…

…the wealthy will invest in cars and trucks for their company that are deductible because they are used to produce revenue

Along with investments that will make them money, investing a nice percentage of their money on education plays a huge role in why they are successful.

They are always investing their money on education which include online courses, information products and all types of of books on self success and self development.

Get reading and get educated, it will only benefit your life’s situation helping you grow

mentally.

{Read Full Article Here!}

Will this article help you to invest in real estate?

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~ ~ C.R.E.A.