Tuesday, December 19, 2017

Appraising the Appraiser, Engaging an Experienced Adviser for Estate and Litigation

Eight Questions You Must Ask When Calling On a Real Estate Appraiser for Your Clients.Eight Questions You Need to Ask When Choosing an Appraiser

 

Real estate assets are typically the most valuable portion of a client’s portfolio. A credibly supported opinion of value, from an experienced and independent appraiser, is one of the best tools you can use to help your client protect, manage or dispose of real estate assets.

The art and science of real estate valuation, especially when it comes to litigation, requires specific training, expertise and most importantly – years of field and courtroom experience. As a neutral third-party, a credible real estate appraiser offers valuable advice, legal research, and trial preparation to help you refine your arguments and strategy.

Outside of litigation or arbitration, an experienced appraiser provides expert advice that helps your clients confidently meet their short and long-term asset management goals.

Success Starts with Selecting the Right Appraiser

Provided are questions you should be asking an appraiser before you engage.

  • Can The Appraiser Demonstrate Valuation Competence?
  • Can The Appraiser Provide Credible Testimony?
  • Does The Appraiser Have Litigation Experience?
  • How Well Does the Appraiser Perform Under Cross-examination?
  • Does The Appraiser Fully Understand the Scope of Work?
  • Does The Appraiser Demonstrate Strong Communication Skills?
  • Does The Appraiser Provide Superior Customer Service?
Contact us to find out how we can enhance your estate and litigation practice.
  • Schedule a Complimentary Consultation
  • Ask About Our Valuation Guide for Attorneys
  • Plan an Appraisal Workshop at Your Firm
PCV Murcor Estate and Litigation

Real Estate Valuation Experts Since 1981 – PCV Murcor provides a full suite of support for estate and litigation attorneys, accountants, and real estate professionals in matters related to personal and corporate asset disposition, estate planning and settlement, divorce settlement, probate issues and tax appeals. (855) 819-2828

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Thursday, December 14, 2017

What Happens When You Put Chief Appraisers and Risk Managers in a Room at the Fed?

PCV Murcor Attends Annual Meeting with Risk Management Association and Society of Chief Appraisers at the Federal Reserve Bank in Los Angeles

 

 

 

 

 

 

PCV Murcor’s Chief Appraiser, John Hosey, and Director of Commercial Valuations, Frank Obregon attended the 16th annual joint meeting of the Risk Management Association and the Society of Chief Appraisers last week. The annual conference held at the Federal Reserve Bank in Los Angeles, brings chief appraisers and risk managers together to focus on sharing of trends, regulatory updates, and trade knowledge among leaders and peers in financial services, valuation, and risk management with the goal of keeping all participants informed and compliant.

A Special ‘Thank You’ to the Organizers of the Event:
Phenomenal Insights Were Shared by a Number of Subject Matter Experts.
  • Regional Commercial Real Estate Overview, James Berner
  • Hotels: Where are we in the Cycle?, Jessica White
  • Collateral Risk Management and Bank Policy, Jenny Redlin
  • Technology to Drive Efficiency, Matt Devoe
  • Special Purpose Properties, Brock Rule
  • Senior Housing Market Update, Bennett Johnson
  • Training System is the Only Way to Keep the Appraisal Industry Alive, Michael Simmons
  • HVCRE – Analysis and Effects of this Controversial Requirement, David Rosenthal
  • Incredible You – The Importance of Valuation Professionals, Brenda Dohring Hicks
  • A Brief Discussion of the Process of Commercial Appraisal Review, Allen Greer & Rob Landis
  • Appraisal Review, FDIC, Richard Rawson
  • Senior Policy Advisor, fomerely with OCC, Robert (Bob) Parson
  • 12th District Credit Risk, Federal Reserve Bank, Ron Pavlick
Chief Appraisers and Chief Credit Officers

Now is a great time to prepare for valuations compliance in 2018. Provided are a few items to help you start that process.

Contact us to find out how we can help you enhance your collateral valuations process in the new year.

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Friday, December 8, 2017

PCV Murcor’s Cindy Nasser on Forbes Real Estate Council, Shares Appraisal Trends In 2018

PCV Murcor’s Senior Vice President of Operations, Cindy Nasser is a contributing member of the Forbes Real Estate Council.
Notable Real Estate Trends To Watch For In 2018

In this article Cindy shares her thoughts on the impact appraisal management regulations and tax legislation may have on home-buyers in 2018. Council members in this article also comment on trends like; Fractional Investing, The Rise Of Micro Units, and Catering to Millennial Buyers. Full Article

The Forbes Real Estate Council: Successful executives in the real estate industry share firsthand tips & insights.

 

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Thursday, November 2, 2017

HouseCanary and PCV Murcor Announce Agreement to Fast-Track the Future of Appraisals with Agile Appraisal™ Management Platform

HouseCanary, the leading provider of modern valuation and appraisal solutions, announced a partnership with leading appraisal management company PCV Murcor. The partnership will further the expansion of HouseCanary’s Agile AppraisalTM Management Platform, a fast, flexible valuation platform with full USPAP and FIRREA compliance. PCV Murcor will leverage their appraisers and HouseCanary’s software to fulfill Agile AppraisalTM orders, accelerating Agile’s industry-leading appraisal completion time.

Agile Appraisal™ delivers appraisals to users in as little as five business days by combining HouseCanary’s industry-leading data and analytics with the expertise of local appraisers — all at a lower cost than a 2055. Though the platform starts with the industry’s best AVM, Agile Appraisal™ utilizes an exterior inspection and delivers the final report to a licensed local appraiser for final review, elevating human expertise while still employing the latest in valuation technology. The entire process is fast, accurate, and affordable, all while maintaining full compliance.

As part of the partnership, PCV Murcor is putting Agile Appraisal™ in the hands of its premier appraisers, allowing them to continue their unmatched service for their bank and credit union clients by completing a higher volume of appraisals than ever before while still maintaining the accuracy and confidence they expect in their valuations. Agile Appraisal™uses regression-based adjustments for location, time, and property characteristics, all while leveraging accurate AVMs and block-level valuation ranges to conducted automated checks of the final value. With this technology, HouseCanary and PCV Murcor will be able to continue modernizing the appraisal industry and carry it into the 21st century.

“We are thrilled about partnering with PCV Murcor to continue modernizing the appraisal landscape,” said Alex Villacorta, PhD, HouseCanary’s Executive Vice President of Analytics. “With the Agile AppraisalTM platform, appraisers can efficiently spend their time and attention on the key aspects of the valuation, especially when utilizing our integrated tools around comp selection and adjustments. Agile AppraisalTM also provides quality rule checks at time of completion, thereby reducing revisions and saving time for all parties.  Our partnership will bring efficiency and consistency to property valuation clients through this innovative bifurcation process.”

“We are very excited to partner with HouseCanary to provide leading edge valuations to our customers, and software to our appraisers. The industry desperately needs appraisal software and the expertise of a local appraiser to deliver best in class valuations quicker and lower cost to the consumer, “said Cindy Nasser, PCV Murcor’s Senior Vice President of Operations.

About HouseCanary:

Founded in 2014, HouseCanary’s mission is to help people make better real estate decisions. Built on a foundation of great data, powerful models, and predictive analytics, the HouseCanary platform aggregates millions of data elements, including more than four decades of property data and a rapidly expanding arsenal of proprietary calculations and analytics, to accurately define and forecast values and market influences. HouseCanary is financed by notable investors including Hillspire (Alphabet Executive Chairman Eric Schmidt’s family office), PSP Growth/PSP Capital (firm founded by entrepreneur and former Commerce Secretary Penny Pritzker)Alpha Edison, ECA Ventures, Raven Ventures and others top Silicon Valley investors. The company is headquartered in San Francisco.  www.housecanary.com

Please contact us with any questions or comments at press@housecanary.com or 855.218.9597.

About PCV Murcor:

For over 35 years, PCV Murcor has provided nationwide real estate valuations for the country’s largest lenders, servicers, brokers and insurers. Founded by Keith Murray, MAI — who continues to serve as President and CEO — PCV Murcor is focused on delivering values and price opinions for a broad spectrum of commercial and residential properties. PCV Murcor offers a full suite of real estate valuation products and consulting services. PCV Murcor operates in all 50 states Puerto Rico, and the Virgin Islands. PCVMurcor.com

Please contact us with any questions or comments at sales@pcvmurcor.com or 855.819.2828.

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Wednesday, September 20, 2017

Disaster Area Appraisals and Shortages: Harvey, Irma and Jose… and Maria is on the Way

Disaster area appraisals and appraisers are impacted by shortages.

In the wake of the devastation caused by hurricanes Harvey and Irma, and with Jose winding down and Maria winding up, the demand for property inspections and other appraisal services in FEMA designated disaster areas is on the rise, and so are the fees and turn times for these services.

In such times of tragedy, it is easy to respond emotionally, and accuse appraisers and the appraisal community of being opportunistic in setting prices and delivery dates. But, disaster areas pose objective challenges to appraisers. Damaged, blocked and flooded roadways inhibit an appraiser’s ability to access and inspect the subject property, comparable properties and relevant neighborhoods. Closure of municipal buildings, and power and telecommunications outages, make it difficult to gather critical market data. And, then there are fuel shortages. All of these factors add time and cost to the appraisal process.

The best advice to lenders is to keep open lines of communication with appraisers and appraisal management companies regarding the evolving challenges in these disaster areas, so you can set reasonable expectations for your borrowers and sales teams.

Want more information on the Florida and Texas counties designated by FEMA as disaster areas requiring individual assistance? See the following links:

Need more information on partnering with PCV Murcor to obtain appraisal services in disaster areas? Contact us at (855) 819-2828.

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Tuesday, May 9, 2017

Fannie Mae Gets Proactive with Appraisal Industry

Fannie Mae is engaging appraisers with their new Appraiser Update Newsletter which “is intended to promote more proactive communication with the appraisal industry and ensure alignment between appraisers, appraisal management companies, lenders and Fannie Mae.”

In this first edition you will find information regarding hot topics such as Day 1 Certainty, Collateral Underwriter stats and Selling Guide updates. There are also links to Fannie Mae in the news and other helpful resources for appraisers.

The Collateral Underwriter stats are of particular interest, indicating data discrepancies and adjustments are the most common quality risk flags. It is important to remember though, that risk identified through automated controls does not necessarily mean the appraisal report is in error. While oversights can happen, it is our experience at PCV Murcor that these risk flags often occur due to discrepancies among typically reliable data sources or variations in reasonable adjustment methods. Regardless of the reason for the flag, users of appraisal reports will need to resolve the indicated risk item. In order to avoid questions from clients, PCV Murcor’s Quality Control team suggests appraisers do the following:

  1. Acknowledge and reconcile within the appraisal report any significant discrepancies between your data and other available sources.
  2. Summarize the logic and reasoning for any adjustments applied in the report along with data that demonstrates the adjustments were market derived.

You can get a copy of the Appraisal Update Newsletter here.

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