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Showing posts from May, 2010

High-End Homeowners Falling Into Foreclosure Trap

Heated pools, ocean views and media rooms are not what most people would expect to find in a foreclosed property, but more high-end homes—priced over a million dollars—have been falling into the hands of banks this year.

Read the full story
http://www.cnbc.com/id/36993480/

Mike Massey honored at Bryan College

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Our co-founder Mike Massey at his alma mater Bryan College in Eastern Tennessee. After 50 years since earning his degree, he was asked to be a part of the 2010 commencement. Here he is with graduate Ben Neds.

Fast Pace May Be Here For A While

It's been a very busy week here at AM. A lot of things are underway including the final touches on a new web site design to be launched soon. We are very excited about some new prospects for the coming year and work volume seems to be increasing.

Our turn time is suffering a bit due to our staff to case load ratio but we are looking into some new solutions. If you have an assignment that needs urgent attention please contact us so we can prioritize those orders first.

Appraisers Getting Older and Leaving Fast

Though many continuing education courses are available online, I still find myself drawn to in-class sessions. The ability to network is great but I think we can find out much more than the curriculum offers by the discussions that go on. My recent CE classes for this year were no different.

What did I learn you ask? Well for one thing, the supply of licensed/certified appraisers is dramatically shrinking. California is losing 5 per day and the percentage trend is similar across the nation. Obviously the past few years of mortgage meltdowns, foreclosures, increasing regulatory changes and AMC fee slashing is taking it's toll.

The average age of an appraiser was reported to be 55-60. Wow! That means fewer younger professionals are coming in. Hopefully there will not be a mass exodus of the most qualified appraisers. We need the best and brightest to lead the way into the next era.