Double Your Pleasure - The Virtues of a Second Monitor

In my Paperless Office - A Small Firm's Approach post (click here) my first recommendation was to get a second monitor. When you have a single monitor you are usually opening up windows, resizing them, minimizing/ maximizing them, scrolling and clicking, etc. to get to the part you need to edit. This takes time and we all know what our "workaround" is . . .we make a printout of the data and work from the paper copy. Right? Consider what it would be like if you were to keep certain data windows always open for quick and easy reference. You will be amazed at how much more easier things will be to do AND how much less PRINTING you'll do!

Now, according to the New York Times article "The Virtues of a Second Monitor",

"Survey after survey shows that whether you measure your productivity in facts researched, alien spaceships vaporized, or articles written, adding an extra monitor will give your output a considerable boost — 20 percent to 30 percent, according to a survey by Jon Peddie Research." Read on . .

• So now, while I am editing this article on my main screen, the screen beside it shows the outline or earlier draft I am working from — and, sometimes, Web sites or other documents I keep referring to.
• When I edit photos, the second screen lets me compare the copy I am working on with the original, or shows tool palettes and thumbnails of other images.
• When I am shopping on the Web, my two screens let me compare products.
• When I work on tables or spreadsheets, I can see all the columns at once.
• When I expect important messages, I keep my e-mail program open on the side monitor while I work on something else.

With a single monitor, I could jump between applications with a mouse click or a keyboard command (Alt-Tab, in Windows), but not nearly as fast — and small delays add up when you repeat them dozens or even hundreds of times a day. With my dual displays, I simply sweep my mouse from one screen to the other. Original Article: The Virtues of a Second Monitor - New York Times by IVAN BERGERPublished: April 20, 2006 Appraisal , Real Estate , Appraiser , Technology

Top 10 Reasons to Create a Blog for Your Appraisal Business

10 Top Reasons to Create a Blog for Your Business - By: Herman Drost 1. Ability to add content in minutes. You don't have to spend time uploading (FTP) files to your host like static sites. You can update your content from any computer that has internet access. If you have a brilliant idea you want to write about you just need to log in to your administration panel and enter your post. 2. Separate design from content. Blog software is database driven. This means you can alter the theme or template of your blog without affecting the content. Therefore you can immediately test different colors and designs to determine what best appeals to your visitors. 3. Search engine friendly. Blogger.com is a free Google application that allows you to generate search engine friendly pages. Search engines like web sites that are updated frequently. Sites that don't receive new content quickly become stale. One of the main characteristics of a blog is that it is frequently updated so search engines will visit it often. 4. Create RSS Feeds. RSS (really simple syndication) feeds are integrated within blog software. So every time you post something to your blog it will create a RSS feed automatically. It will also notify some of the larger sites that carry these feeds and make them available for syndication. This is a great viral marketing method that will quickly attract many visitors. 5. Build link popularity. To increase your sites' rankings in Google and other search engines, you need to generate many incoming links to your web site. The more links you have the better. If you create a blog that contains valuable content, you will have many people linking to you. RSS feeds are becoming a very popular and an easy way to read content quickly. Since your blog has this feature already built in, your link popularity will build faster than if you had a site with no feeds. 6. Encourages interactivity. Visitors can immediately add their own comments to your posts. This helps build a long term relationship with them and win their trust. It will also make your blog stickier because you will get many returning visitors eager to read others' comments or write more of their own. 7. Make money. Blogs also offer a great way to place AdSense Ads on your pages. Blogger.com makes it easy to place AdSense Ads on your pages. You can also make money by promoting affiliate sites or selling your own product or service. 8. Customizable. Blogger.com has lots of different themes to choose from. This gives you the flexibility to make your blog the best it can be for your business purposes. 9. Easy administration. Here are some of the features of the Blogger.com administration panel: -add content immediately -change the theme (look and feel) of your blog without altering the content. -create different permissions for people who will add content to your blog ie administrators, editors, contributors. 10. Help market your newsletter. Many emails don't get through to your subscribers these days because of spam blockers residing on your visitors computer or web host's server. A blog that contains RSS feeds will enable visitors to receive your newsletter automatically by subscribing to the feed on your blog. You can also send your visitors an email that includes a link back to your blog. This will also help build links to your blog as people visit it. Tip: Before you create a blog make sure you put some thought into the purpose of it and what topics you want to write about. Make a schedule to write often (ie daily, weekly or monthly) so it doesn't grow stale and lose interested visitors. If you have been putting off creating a blog, START NOW as you may be leaving money on the table. Get Highly Effective Web Site Design, Marketing Tips and Tricks by visiting the author's Web Design Discussion BlogHerman Drost is a Professional Web Designer, SEO Specialist, Article Writer and Publisher of the Marketing Tips Newsletter. Article Source: http://EzineArticles.com/?expert=Herman_Drost Appraisal , Real Estate , Appraiser , Blog , Technology , Marketing

Three Generations of Home Buyers: Study Reveals Attitudes

Three Generations of Home Buyers: Study Reveals Attitudes - Century 21 home buyer survey provides new insights into first-time home buyer trends RISMEDIA, April 21, 2006—The CENTURY 21(R) Homebuyer Survey released today rev eals that Baby Boomers were driven to purchase their first home based on family reasons while Generation X and Y buyers are more likely to buy or have bought a home as a "safe investment." Continued » Appraisal ,Real Estate , Appraiser , Illinois , Realtor

Technology - TopNote Mobile Data Collection

What do you call a family of handheld terminals that can combine the functionality of a PDA, a cell phone, and a personal media player into a package much smaller than a tablet PC . . .AND it has a handle? According to AboveNet, TopNote terminals are unique wireless-oriented solutions with advanced communications and security technology. They are aimed at a wide range of industries, including, but not limited to, education, finance, government, healthcare, hospitality, logistics, retail, security and telecommunications. Designed to supply the worldwide market's high and growing demand for open architecture-based wireless hardware platforms, these products are based on a single board computer (SBC) specifically designed and developed by Above-Net. Powered by the Intel XScale processor family to fulfill the need of high power at low cost platform, Above-Net products run under Microsoft CE.NET or Linux operating systems, ensuring the required friendly environment for application developers and simplified porting of existing customer applications.

Together with a built-in range of communications options such as WIFI, Bluetooth, GSM/GPRS, CDMA and Ethernet, compatibility with all kind of magnetic and smart cards, interfaces for a wide variety of peripherals, biometric and other transaction oriented devices.

Various LCD panel options are offered up to a full color VGA screen with touch panel and all units incorporate AlwaysUp technology which orients the displayed data to be viewed by the user independent of the physical orientation of the unit – vertically or horizontally. Another special feature is the embedded finger print reader which can provide extra security for sensitive mobile applications such as medical or financial data communication.

I've long agrued for more ergonomic hardware designs in mobile products for appraisers. This may not be the perfect data collection device (daylight viewable screen and a "left-handed version?) for appraisers, but it does give us a glimps into the future "design" of mobile devices.

At least its got a "handle" and "AlwaysUp" technology!

Thanks to jk On The Run for the finding this product!

Appraisal , Real Estate , Appraiser , Technology , GPS , mobile , Home Inspection , GPS

Multiple Listings - A Public Utility? A Study Of Copyright Laws

The following Realty Times article provides some additional insights to yesterday's blog "Appraisal Reports Are Copyrightable Under Copyright Law And USPAP " According to Jennifer Sides, Corporate Counsel for a la mode , a real estate technology company, "Appraisal reports are copyrightable, under copyright law and USPAP." Her report is in the April 19, 2006 newsletter

"Brokers may believe that they own the listing, and that they cooperate within MLS rules to share access to the listing online, but other entities, from the Department of Justice, to third-party real estate servicers, to consumers, would like to see MLS-published listings become a public utility. "

A la mode's web site has what they refer to a a "clearinghouse" for information on the copyrighting of appraisal reports. This page has links to videos and recorded panel discussions on the topic. Click here for more information. Amid rising pressures against brokers and MLSs to relinquish the chain of custody for listings, real estate industry insiders are looking at what needs to be done to keep REALTORS® in control of their own listings through the study of copyright law. To that end, David Charron, president and CEO of MRIS, Erik M. Feig, general counsel to MRIS, and J.T. Westermeier, partner have co-authored an updated version of last year's Guidance Paper. The Guidance Paper is designed to "administer, secure and enhance the value of real estate listing content" by urging the adoption of copyrights on listings. "By applying basic legal principles as they have been applied in other industries adapting to the Internet, we should be able to come to a better understanding of the issues, challenges, and most importantly, solutions," says the FAQ section of the paper. Among the points the paper makes:

• Multiple listing services grew out of the industry's desire to facilitate collaboration and sharing of information among real estate professionals wishing to serve their clients more effectively.
• The real estate listing has evolved into an expansive set of data elements, facts, and expressive content.
• We can easily communicate and copy information in a digital form.
• No longer limited to static paper media or to expensive broadcast productions, today's electronic real estate listings offer users a variety of information in multiple formats, including text, photos, animations, and movies.

However, the Internet does not change old rules of property rights. As case law has proven time and again, "software and music content are and remain property, whether distributed online over the Internet, sold or copied on floppy disks, CDs or DVDs, or distributed in any other form or format."

"Copyrights are intangible intellectual property rights, created under federal law under the Copyright Act."

In addition:

• Copyright rights are created automatically by operation of law the first time an "original" work of authorship is "fixed" in tangible media -- from pen to paper, finger to keyboard, camera to film.
• Original authorship plus fixation are what create copyright rights.
• Copyrights exist even if they are not formally registered, although notice helps others avoid confusion as to whether or not the author considers the work to be copyrighted.
• Copyright laws convey five rights to copyright owners:

1. to make reproductions of the work
2. to adapt, modify and otherwise make "derivative works" based on the work
3. to distribute the work publicly
4. to display the work publicly
5. to perform the work publicly

• Copyright rights give the copyright owner the right to stop anyone from "copying" the copyright owner's work without the copyright owner's permission.
• Copyright rights can be transferred or licensed.

The authors suggest that listings are "content" rather than "data," which helps dismantle arguments that listings are a compilation of public material and should be in the public domain. However, listings are derived from a variety of sources, including "sellers, agents, photographers, third-party vendors, public agencies," as well as MLSs. This information is "collected, processed, selected, organized and arranged" into "the real estate listing."

They also say that listings are works of "original authorship comprised of more than just a compilation of facts such as names, addresses, dimensions and public record information." Listings can include content that must be created, such as photos, virtual tours, illustrations, floorplans and more, to create a compilation that is a creative presentation.

"While listing content may not have the degree of creativity we associate with a song or a story or other types of so-called "creative" works, there should be little question that listing content is protectable by copyrights," say the authors.

Article Source: Realty Times: MRIS Team Recognizes Importance of Listing Content As Copyrightable by Blanche Evans

Appraisal , Real Estate , Appraiser , Blog , Technology ,Regulation , Realtor

Humor - Have YOU Gizoogled?

We’ve been Gizoogled! Gizoogle translates your homepage or any other site into jive. If you’re in need of a laugh, give it a whirl. Here’s a screen shot of the Appraisal News For Real Estate Professionals page after being Gizoogled: Credit to Chris Bubny from Realtyblogging for finding this fun site and Sellsius for reporting it. Appraisal , Real Estate , Appraiser , Blog ,Technology

Protect Your Appraisal Data By Storing It Remotely

A plethora of remote data back-up options removes obstacles for not protecting your valuable real estate information. A Tech Watch story by Mike Antoniak If you’ve ever lost the contents of your computer to a crash, malicious code, accident, or act of nature, you know the wisdom of habitually backing up all the data generated by your real estate career. Just think of all the contact information, contracts, forms, and correspondences you’d have to rebuild if you erased the data from one transaction!

A good backup plan requires redundancy — keeping two or more copies of your computer files — and remote storage, with at least one set of data stored off-site. Both are benefits offered by the growing selection of Web-based data backup plans.

Even if you regularly save copies of files to removable media or an external drive each time you make changes, you might want to consider adding another layer of data protection. For a monthly or yearly fee, you’re guaranteed your data can be easily recovered, no matter what happens in your office or to your equipment. Remote data backup plans are available for individuals, small business, and network servers with many users. To activate a remote data backup service, all that’s required is an account with one of the data backup providers, a broadband Internet connection, and software provided by the vendor. In their basic form, these services provide a set amount of storage space for a monthly or annual subscription fee, as low as $10 per month for an individual user. The software allows you to manage your account from your computer and set how copies of your data are relayed to the company’s server for storage. You can opt to upload copies of files manually, have them automatically transmitted on a daily or weekly schedule, or backed up with every change to a file. Once uploaded, a copy of your data is securely stored off-site. Do You Need Remote Data Backup? Ask yourself: What’s it worth to know your data is always adequately backed up? Instead of the price for the service, think of the cost in time and effort to recreate all your data from scratch. In those terms, you might think of one of these plans as a form of data insurance.If you’re a mobile real estate professional who works between a notebook and desktop PC, a Web-based backup plan provides access to all your information, wherever you connect to the Web. And, you can give clients limited access to files or documents relevant to their transaction. When set to back up files each time you make changes, these plans minimize the disruption caused by a corrupted file. Connect to your service and reload the last saved version to take you back to where you started. In fact, most plans routinely save several successive versions of a file, allowing you to retrieve or review your file back to any previous point. Evaluating the Plans Fortunately, most remote data backup plans allow you to try the service before buying it. Before the test, though, consider: Security. Since you’ll be entrusting your data to a remote service, security should rank high on your list of concerns. Find out about the service provider’s security policies and procedures, data encryption, and password protection. Back-up measures. Does the provider itself have a redundancy plan, with your data stored on two or more servers, in different locations? Price. Make sure you understand the pricing structure and your financial commitment. Beyond the monthly subscription, are there fees for software, data transfer, or recovery? What will it cost for additional storage capacity? When you have the answers, test the service with sample files and records, typical of data you’ll be entrusting to the service. Monitor the upload speed and efficiency when sending full versions of your files, as well as changes to files you’ve already uploaded. Then, check the service’s log window for your account. Look for errors or disrupted transmissions that could indicate problems.In the final part of the test, recover and restore files you’ve uploaded to the service and compare with the original versions. Only after you’ve successfully saved and recovered sample data with the service should you seriously entertain thoughts of entrusting your data there. Some Options The list of many vendors offering online data back-up services is growing. All offer several tiers of plans, with pricing based on the amount of storage space, number of users, and account features. Here’s a list of a few providers to help you get started:Remote Data Backups, Spann Technology Consultants, and NovaStor have plans for individual users starting as low $9.95 for 100MB of storage space per month. Data Deposit Box prices its service based on actual storage space used, for as little as $.01 per megabyte. Home office/small office plans, for more than one computer user, are available from Protect Data, PCForPeople, e-Backups, and NACIS.NET.Hardware vendors also have branched into data back-up services with programs such as the IBM Tivoli Continuous Data Protection for Files and the HP Smart Desktop Management Service. Off-Site Backup For Appraisers: The Vault. The Vault is an a la mode, inc. product designed specifically for apparisers. It’s automatic, online, accessible from anywhere, USPAP compliant and can be used with any appraisal software. Compare that to having to remember to backup or only being able to access files from your PC. It you're an a la mode customer, Vault comes with Exact, which backs up WinTOTAL databases, signatures and preferences. So if the worst does happen, their customers can get back up to speed as quickly as possible.

Whether you need backup for your own transaction data or for the entire office, remotely backing up your information is a smart thing to do routinely. Approach it as a complement to, rather than a replacement, for backups you already create, and you can rest assured all your data is safely secured.

Appraisal , Real Estate , Appraiser, Technology

USPAP In Plain English - New Book By Appraisers

The 2006 Edition of USPAP kicks in July 1, 2006. Do you know what the changes are?

• The terms Departure, Limited Appraisal and Complete Appraisal will no longer exist.
• What is Scope of Work? Why should I care?
• How will the changes impact my appraisal business?
• How will they affect the appraisals I am ordering?
• Will I be ready?

Now there's a guidebook, the 2006 Edition of "USPAP In Plain English". The 2006 Edition of the Uniform Standards of Appraisal Practice (USPAP) contains the most significant changes to the document since 1994. USPAP In Plain English is a review of the 2006 Edition of USPAP that interprets the document in simpler terms than the original text. The primary users are those practicing real estate appraisers who care about performing within the framework of USPAP while meeting the needs of their clients but do not have the time to conduct an independent research project on the nuances of the document each time they undertake an assignment. Secondary users are the clients of real estate appraisers so they can better understand what is required by USPAP and why USPAP-compliant appraisals are in their best interest. In this context, USPAP in plain english only covers the document up through Standard 2 and those Statements on Appraisal Standards that interpret Standards 1 and 2. USPAP in plain english is designed to be used in conjunction with the 2006 Edition of USPAP and is available at ww.lulu.com/USPAPplain

Franke has been active in the Appraisal Institute and served as a Regional Chair and on the Board of Directors of the organization. Leary was one of the original five members of the Appraisal Standards Board of the Appraisal Foundation from 1989-1994.

Appraisal , Real Estate , Appraiser , USPAP

Humor - Trapped Bankers & Subservient Donald Interactive Websites

Washington Mutual has launched a site called TrappedBankers.com that allows visitors to pose questions to a group of men in business suits who the site collectively refers to as the "banker's pen." The site pokes fun at bankers while promoting WAMU services. As with other interactive sites such as SubservientDonald.com, the TrappedBankers site features pre-recorded responses to questions in the form of short videos.

• TrappedBankers is cute but I like being able to make my OWN demands of "The Donald"! Try some of these:
• Take off your coat!
• Comb your hair!
• Pick your nose!
• Stand UP!
• Wave!

Thanks to Inman's New blog for these sites.

Real Estate , Appraiser , Blog , Technology , Marketing

Appraisal Reports Are Copyrightable Under Copyright Law And USPAP

Appraisal reports are copyrightable, under copyright law and USPAP according to Jennifer Sides, Corporate Counsel, a la mode. The following is from their April 19, 2006 newsletter. Recently, counsel for the Appraisal Institute produced and distributed an article, "Copyrighting Appraisal Reports: Can You? Should You?", which called into question the ability and wisdom of appraisers copyrighting their reports. Since we've been in the lead convincing appraisers to protect their rights, we felt we needed to respond. The primary author of our response is our Corporate Counsel, Jennifer Sides. Sides' background in intellectual property law has made her the industry's leading expert on copyrighting appraisal reports. A recent Appraisal Institute-sanctioned article, "Copyrighting Appraisal Reports: Can You? Should You?" was not only delivered to Institute members, but ran in the Appraisal Buzz e-mail newsletter, seemingly indicating that the Institute wanted a much wider readership than it could have managed solely by sending it to its own member list. We wish they had put an equal amount of effort into making sure it was accurate on even the most basic aspects of copyright law. Some of our customers have contacted Appraisal Buzz and the Institute demanding clarification or a retraction. The publisher of Appraisal Buzz has indicated she takes no responsibility for the accuracy of what she e-mails, and the Institute has not responded publicly. Therefore, I will address the falsehoods and misleading material in this article. The author of "Copyrighting Appraisal Reports: Can You? Should You?" would have benefited from browsing the U.S. Copyright website. (You don’t have to be an attorney to be better informed than the article’s author. Just visit http://www.copyright.gov.) Simply put, your appraisal report is your intellectual property. It is an asset. It is copyrightable. The creator of any work owns it. See "Appraiser Wins Copyright Suit: Now What?" There is one exception, prominently (and fallaciously) addressed in the Appraisal Institute article: "works made for hire." The Institute's author wrote, "When an appraiser's services are engaged, the report he or she provides the client would typically be considered work for hire, unless the engagement contract states otherwise." In the copyright seminars at our a la mode conventions we have a "catch all" slide near the end where we round up all the most easily dismissed arguments against copyrighting your appraisal reports. The "work made for hire" argument is one of them. This is the sort of stuff seen in Copyright Law 101. So, here we go.

Your appraisal reports are not "works made for hire" unless you specifically say they are. Since you own your intellectual work by default, you have to engage in very particular actions to surrender that right.

A report would be a "work made for hire" if prepared by an employee within the scope of his or her employment, or if it were specially ordered or commissioned for use as a contribution to a collective work. Most appraisers are not employees, and they are not creating a small part of a specified larger collective work. They are providing a stand-alone piece of intellectual property as an outside professional. In the case of a non-employee such as almost all appraisers are, copyright law is very clear. Not only must a work be specially ordered or commissioned, but there must also be a prior written agreement between the parties specifying that the commissioned work is indeed specifically a "work made for hire." If you never signed an agreement with that language, you did not perform a work for hire. If they say it is anyway, then tell them thanks for "hiring" you as an employee, and ask when you get your 401(k) and health insurance. Access to the cafeteria would be nice too. Really, the "work for hire" argument is that ridiculous. The article further attempts to scare appraisers away from copyrighting with another misleading assertion:

"The Copyright Office's records are available for public inspection, and most may be copied for a fee. Public access to actual works deposited at the Copyright Office is permitted if the copyright owner authorizes access or for litigation-related reasons...."

Everything after the "if" is quite important, but creatively glossed over. There is nothing "public" to it. Unless your report is part of litigation (where it would be disclosed anyway, regardless of USPAP confidentiality), anyone wishing to view it at the Copyright Office must have your written permission to do so. Just don't grant it. But most importantly, as we tell attendees of our copyright seminars, you may indeed redact the confidential information from your reports prior to filing with the Copyright Office, without impacting your right to copyright protection one iota. Redaction is standard procedure in copyright filings containing confidential information or trade secrets. The confidential data which you placed in your report is not material to the intellectual work anyway; those parts are a regurgitation of data you received and which bear none of your creativity. Instead, it is the uniqueness of your work, the "IQ points" you put into it in arriving at and describing the value conclusions and the characteristics, which you are copyrighting. "Data" components, whether they are the confidential tidbits or the MLS data used in the report, are immaterial in the context of a broader work. That standard has been upheld in the courts repeatedly. Appraisers always err on the side of strict compliance with USPAP, and redaction is a great way to do so. But even if an appraiser specifically chose not to do so, the implication that USPAP or other laws and regulations prohibit you from protecting your rights is irresponsible and incorrect. A pile of administrative rules prepared by a team of bureaucrats in a windowless office in the bowels of Washington does not trump the Constitution's core rights to intellectual property. It is important to remember that our Constitution set remarkable standards not only in personal freedoms but in the right to benefit from owning property, including intellectual property. Article I, Section 8, Clause 8, empowers Congress to legislate copyright and patent statutes, and standardized the scattered copyright laws the colonies already had in place. Why was it important enough to encode for the first time as a core part of the guiding law of a nation? Because of the chain of events set forth by a little piece of new technology of the late fifteenth century — the printing press. Since that time, copyright law development has been a continuing response to the challenge posed by other new technologies. The mortgage industry, regardless of how hard the enemies of appraisers hope and wish, will not be the first group to successfully reverse 500 years of creators exercising and strengthening their intellectual property rights. The protection of your rights starts with you. Learn and understand them, and most importantly, exercise them. You value property belonging to others everyday; place a value on your own intellectual property assets as well. Read the full article in the a la mode news. Appraisal , Real Estate , Appraiser , Blog , Technology

Humor: Real Estate Church Signs

Appraisal , Real Estate , Appraiser , Realtor , Home Inspection

RealBlogging - Official Real Estate Industry Blog? Where's The "Appraisal" Category?

According to their initial post, "RealBlogging was created to fill the need of a national blog for the real estate industry where many of the industry's most respected visionaries, authors, speakers and leaders come together to share what is happening to the industry." "So instead of each having a separate blog site there is now one central place. The initial 20 founding bloggers are listed on the left together with immediately below their names, the most meaningful categories we will initially be covering." KUDOS to them for pulling this all together. HOWEVER, If this is going to be the "Official" real estate industry blog, I HOPE that they will see fit to include appraisers and home inspectors in their list of topics covered. AND not just when they're indicted or involved with mortgage fraud or flipping schemes! Appraisal , Real Estate , Appraiser , Blog , Technology , Realtor , Home Inspection

HELP - I GOT SUED! What to Do (& Not Do) If It Happens to You

"HELP- I GOT SUED! What to Do (& Not Do) If It Happens to You" by Elaine Matternas was recently published in Real Estate Valuation Magazine Online - Spring 2006. The sheriff, process server, or maybe the mail carrier with a certified letter has just exited your office, leaving you with a thick sheaf of papers labeled: ABC Bank v. Mary Q. Appraiser. What do you do next? Here's a "summary" from the article . . . What NOT to Do!

1. Don't stuff the envelope in adrawer and hope that it will go away. It won't.
2. Don't take the sheaf of papers to the divorce attorney whose office is next door and ask him or her to respond for you. You need someone whose specialty is defending real estate appraiser errors & omissions claims defending you.
3. Don't take it upon yourself to call the claimant and explain to them that you have done nothing wrong.
4. Don't admit guilt or innocence.
5. Don't try to answer the lawsuit directly by yourself - what is called a pro se defense in legal terms.
6. Don't take the lawsuit personally.
7. Don't panic! The sky hasn't fallen and the world isn't coming to an end.

Take a deep breath, gather your facts and files, and start on the "What You SHOULD Do" list.

What You SHOULD Do! Below are suggestions as to whatyou should do when a claim is made against you:

1. Note the date that the lawsuit was received, and the method of service (i.e.. certified mail, process server. etc.)
2. Keep a written reeord llog of any additional communications received that relate to the legal action, by date and content of the contact.
3. Make a copy of the lawsuit for your records. If you are going to be helplul to the attorney who represents you, you will need to read the lawsuit carefully, to know and fully understand the charges against you.
4. Review your file for the appraisal in question, and have it ready to be used by the attorney in preparing for your defense. Read "Document, Document, Document! To Prevent An E&O Claim"
5. Submit the claim immediately. Run to the nearest post office or overnight mail delivery service and submit the claim to your Errors &Omissions insurance carrier
6. Carefully read and follow the termsand conditions of your F&O policy, usually found in the "Conditions" section and labeled "Duties inthe Event of a Loss' or "Notice of Claim"
7. Cooperate and respond promptly to every request for information,documentation, and/or other details from the claims examiner or defense attorney. Be open and direct with them-after all, they are defending YOU and your work.

There's More to Know - Be sure to read the FULL article - click here.

Claims Happen! An (E&O) claim is a fact of life as a professional that cannot be ignored. You can't pretend that it doesn't exist. You can't just wish it away. If you ever have any questions about the specific terms and conditions of your policy, you should contact your insurance agent and get proper advice. The purpose of your Errors& Omissions insurance policy is to protect you. Now, why would you want to go it alone? *)

Elaine Maternas is the author of numerous practical articles on insurance issues for real estate appraisal professionals. She over sees the Real Estate Appraiser Errors & Ommissions program for Intercorp, Inc., an insuranceprogram management firm headquartered in Ephrata, PA. For more information about Intercorp`s E&O program, please check their website at: http://www.intercorp.net/;email info@intercorpinc.net; or call 1-800-640-7601.

Appraisal , Real Estate , Appraiser , USPAP , RESPA , Regulation , Illinois

"Ten Rs" for Mentoring New Appraisers - Here's the Drill

If you wonder what it takes to be a great mentor, Karen Oberman and Alan Hummel provide the following “roadmap.” If you are a young appraiser looking to improve, the following is more like a “treasure map” for a bright and successful future. "Ten Rs" for Mentoring New Appraisers by Karen Oberman, SRA & Alan Hummel, SRA 1. Responsibility: The supervising appraiser takes on full responsibility for a trainee appraiser’s valuation reports by signing and certifying that the report is in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). 2. Reliability: The information presented in a report must be accurate and dependable in order to provide a valid and credible report. A trainee must be adequately supervised in the data-gathering process to ensure that they are correctly and properly collecting pertinent and factual data for analysis. 3. Research: It is the responsibility of the supervisor to ensure that the trainee knows where to gather data and that the data collected is reliable. The trainee should be exposed to all sources of research which are commonly considered by one’s peers in the marketplace. This includes cost manuals, multiple listing services, public records and the Internet. 4. Reason: The trainee must learn to reason independently and to formulate reasonable conclusions based on analysis of the information gathered. The supervisor needs to directly guide and then transition the trainee into an independent reasoning process. 5. Routine: The trainee should be taught the basic routine of the appraisal process. There should be a consistent and regular pattern of data gathering, analysis and report writing. This enables predictability for both parties and an expectation of results. 6. Report Writing: A supervisor has the responsibility of reviewing and critiquing appraisal reports for accuracy and clarity and to ensure that all addenda are both relevant and pertinent. It is the supervisor’s responsibility that factual data are reliable and that analysis is both supported and documented. All necessary certification and limiting conditions should be up-to-date and applicable to the assignment. 7. Rounded: A well-rounded trainee is one who is rigorously supervised and has many different experiences. A supervisor should expose a trainee to as many different property types, report formats, value ranges etc., as possible, with the understanding that each time a new or unique assignment is introduced, there is a responsibility to instruct and educate the trainee to ensure competency. 8. Respect: Both parties in the training process (supervisor and trainee) require mutual respect to create a positive and meaningful learning environment. Questions about the appraisal process expressed by the trainee or differences with respect to the presentation of information should not be considered “disrespectful” but rather should be encouraged as potentially constructive to the process. 9. Rapport: A supervisor has the unique opportunity to form a lasting relationship with their trainee as a mentor and a friend. There should be a professional understanding and trust between the supervisor and trainee regarding the education that is taking place. 10. Reflective: The competency of a supervisor reflects directly on the appraisal industry as a whole. If the supervisor is lackadaisical in his/her responsibilities, it has the potential to discredit appraisers in general. A good, conscientious supervisor not only helps produce a competent, ethical professional but also creates a positive image of the appraisal profession.

"The benefits are many: creating a well-rounded appraiser who produces reliable reports pays off in increased professionalism and repeat business from satisfied clients. "

About the Authors: Karen Oberman, SRA is President of Iowa Residential Appraisal Company, and has served as Chair of the Iowa Real Estate Appraiser Board in 2005, as well as Chair of the Disciplinary committee and Work Product Review committee. Alan Hummel, SRA is Chief Appraiser for Forsythe Appraisals, LLC and served as the National President of the Appraisal Institute in 2003. For the full WRE Online story - Click here. Comments, experiences and suggestions are welcome dbrauner@workingre.com Working RE Home OREP for Appraisers E&O Insurance Appraisal , Real Estate , Appraiser , USPAP , RESPA

Should NEW Homes Be Inspected? - The Trojan Horse Was NEW!

New homes aren't always perfect - Builder's warranty may save owners who didn't do pre-purchase inspection Dear Barry Stone Inman News - In a recent column, you recommended home inspections for brand-new homes. This was eye-opening advice for us, but unfortunately, we learned it too late. We bought a brand-new home about six months ago and assumed there was no need for a home inspection. The building department had just approved the construction, and the home was covered by a one-year builder's warranty, so we saw no need for an inspection. Our new neighbor, on the other hand, did hire a home inspector. Nearly a dozen defects were reported, and the builder repaired all of them. This makes us wonder what a home inspector would have found in our house. Now that we've taken possession without an inspection, what do you recommend? --Bill and Anne Dear Bill and Anne: A pre-purchase home inspection is essential when buying a brand-new home, but don't despair. The window of opportunity is not yet closed because the builder's warranty is still in effect. The contractors who built your home are still required to correct any defects that you discover and bring to their attention. What matters now is that these discoveries be made. As stated in previous articles, most purchasers of new homes fail to obtain a professional inspection. Instead, they trust that new homes are unlikely to have defects and that any imperfections will inevitably become apparent during the warranty period. These two assumptions have caused financial loss and mournful regrets for many buyers of new homes. "Brand-new" means clean, shiny, unworn, aromatic, and sanitary. It does not mean defect-free. The Trojan horse was brand new, but it should have been inspected. Homes are built by people, and regardless of experience, skill, knowledge, integrity, and good intentions, all people make mistakes. That's the one guaranty that never fails. Then there is the question of building department approval. Municipal building inspectors provide services that are limited by the time available to perform an inspection. Building departments are typically under-staffed and over-worked. An inspector might have as little as 15 minutes to evaluate a home. Furthermore, municipal inspectors have no liability for defects that are missed during their inspections. Therefore, the motivation for thoroughness is missing. With home inspectors, the situation is much different. A competent home inspector spends two-and-a-half to four hours on-site, time enough to access and inspect all pertinent areas of the home. As members of the private business sector, home inspectors do not enjoy the liability protections that shelter bureaucratic agencies and their employees. Hence, they are motivated to perform thorough, comprehensive inspections. A competent home inspector--someone with years of experience, substantial credentials, and a reputation for thoroughness--can provide valuable financial protection to the owners of new homes. The missing ingredient is public awareness of the need to inspect newly built homes. As long as the warranty period is in effect, owners can present a list of repair needs to their builder. When the warranty expires, the opportunity is lost. Defects discovered after that time become the homeowner's responsibility. Thanks to Inman News - Click here for the full article. To write to Barry Stone, please visit him on the Web at www.housedetective.com. Appraisal , Real Estate , Appraiser , Realtor , Home Inspection

Guilty Plea in $8M Illinois Flipping Scheme - Appraiser Involved

The Mortgage Fraud Blog has posted today that Frank Kelly Ciota, 45, Riverton, Illinois, plead guilty to one count of bank fraud, one count of wire fraud, five counts of fraud and one count of conspiracy to commit money laundering in a connection with a $8M flipping scheme in Illinois. Ciota was named in a superseding indictment last August. His co-defendants, Dennis Weise, Jr., Belleville, Illinois, a former appraiser, and Gary Knox, Decatur, Illinois are both scheduled to plead guilty on April 19, 2006. Ciota faces a maximum of 30 years in prison on the bank fraud charge and 5 years in prison on each of the wire fraud, mail fraud and conspiracy charges. The original indictment, handed down in July 2005, charged Knox and Weise with bank fraud, wire fraud and mail fraud in connection with allegations that they flipped over 150 properties in the Springfield and Decatur areas of Illinois between 1999 and 2005 that involved more than $8,000,000 in loans. Knox and Wiese were alleged to have obtained a total of more than $3,000,000 from the transactions. The superseding indictment alleged that Knox and Ciota obtained $3 million from the scheme and that Wiese was paid $350 to $450 per appraisal. According to the superseding indictment Knox and Ciota would recruit buyers with little or no experience in real estate investment – some of these buyers were relatives of Ciota. According to the indictment Knox represented himself as being in the business of buying, selling and managing real estate – both individually and dba Central Illinois Management and Development Company. Full Story and indictment details - Click here. Previous Fraud Blog Stories:

• FBI - The Rise of Mortgage Fraud And How It Impacts You
• "Flipping" - Fraud or Good Business?
• Inflated Appraisals Put Homeowners, Lenders At Risk
• Borrowers Urged To Get Independent Appraisal

Appraisal , Real Estate , Appraiser , USPAP , RESPA , Regulation , Illinois , Realtor

Your Mortgage Application Is For Sale

Your mortgage application is for sale according to the recent article by Kenneth R. Harney of the Mercury News. Mr. Harney says, "When you get a mortgage rate quote or a preapproval, you probably assume that your inquiry with the lender is confidential, right?" Wrong! Your loan officer may be unaware, but behind his or her back key financial details about you and your mortgage needs are being hawked to competing lenders within 24 hours of your credit bureau inquiry. Firms such as Mortgage Inquiry Data of Coral Springs, Fla., offer interested lenders nationwide ``access to everyone in your city who applied for a mortgage loan within the past 24 hours. You can contact these people the next day and offer them a preapproval for a better loan with your company.'' Spokesmen for both Equifax and Experian confirmed that their firms do offer 24-hour ``trigger'' lists of applicants for mortgage credit. TransUnion did not comment on whether it provides overnight contact data. Equifax and Experian insisted that their marketing of overnight mortgage inquiry leads violated no federal or state rules, and is merely a sped-up version of their routine sales of lists for other preapproved offers of credit. He advises that before signing up with a lender who bought your name from an overnight ``lead'' mill, make sure you:

• Check that lender out thoroughly
• Ask for multiple consumer references in your area
• Check with financial regulators to make sure the company has a clean record
• Never deal with people who claim that your local lender suggested they get in touch.

To read the full article - click here. Appraisal , Real Estate , Appraiser , Technology , Marketing ,Illinois, Realtor

E&O - Construction Progress Reports: Don't Get Hammered!

It is commonplace for appraisers to receive construction progress report assignments from lenders. Lenders use these reports in making loan disbursements, also known as construction draws. Suits against appraisers involving construction progress inspections have consistently been a basis for litigation, and appraisers should consider this fact before agreeing to such an assignment. In a typical scenario, a homebuyer decides to build his dream home. His selection of a contractor is motivated by price alone, and little care is taken to check the contractor`s references or to stipulate the type and quality of materials to be used in the construction of his home. After construction begins, the relationship between the contractor and the homebuyer deteriorates. The contractor claims that the homebuyer keeps making demands that are not provided for in the original contract, and the homebuyer claims that the contractor is taking too long and is cutting corners. The usual outcome of such a dispute is that the contractor is either dismissed or he walks off the job, and that leaves the homebuyer with a partially finished home. The homebuyer, after his unpleasant experience with the "best-priced" contractor, decides to hire a top-notch contractor to complete the job. The new contractor informs the homebuyer that the previous contractor`s workmanship is flawed and that he used sub-standard materials, and therefore much of the construction will have to be re-done. Ultimately, the amount of money needed to finish constructing the dream home is far more than the amount remaining from the original construction loan.

When the homebuyer is unable to collect monetary reimbursement from the original contractor he pursues his claim against the appraiser. After all, the appraiser certified the percentage of construction completed and should have noticed poor workmanship or cheap materials!

In another scenario, the homebuyer simply walks away from the unfinished home and the mortgage obligation. The lender is then faced with the decision whether to finish construction before selling the home, or selling the home in its unfinished state so the new owner has the opportunity to finish the home to his liking. Inevitably, the lender sues the appraiser, arguing that the company suffered a loss on the resale due to the appraiser`s misjudgment of construction completion. Many appraisers decline construction progress assignments because they don`t think they are qualified or the fees are too little. Some appraisers accept these assignments simply to maintain the business relationship they have with their client/s. Appraisers who do perform construction progress inspections should consider the following suggestions to reduce their liability exposure: a) Use additional language The majority of lenders have pre-printed forms for the appraiser`s completion in construction progress inspections. The forms have a list of specific items and the appraiser must estimate a percentage of completion for each item. Liability Insurance Administrator's Claims Counsel recommends that you consider adding the following additional language to the prepared form:

"This report is prepared for the benefit of the lender to assist in making loan disbursements. It is not prepared for the benefit of the borrower."

Although we always argue that the appraiser owes no duty to the borrower, adding language similar to the above on the progress inspection report will assist us in asserting that position. Other language to be added might include:

"The purpose of this inspection is to determine an approximate degree of completion based on the appraiser`s limited knowledge of basic construction."

"The appraiser is not a contractor and does not have the expertise to evaluate the quality of construction, workmanship or materials."

Adding the language above is helpful in the defense of claims made by lenders who expect the appraiser to exceed the scope of their professional expertise because they are unwilling to pay a contractor to perform the construction progress inspection. b) Take as many photographs as possible Photographs should be taken during each inspection and attached to your progress inspection report. If the lender does not want photographs, retain them in your file or on your computer. The photographs give the lender a chance to compare images of the construction progress with your estimated percentage of completion and allows them an opportunity to voice any concerns they may have with your estimation before they make a further disbursement to the contractor. c) Insist that the lender have the borrower sign off on your reports and on disbursement requests Once a borrower signs off on your construction progress report and approves the disbursement to the contractor it becomes more difficult for him to argue later that he disagreed with your percentage of completion. If the borrower disputes the findings in your construction progress report, the disagreement should be resolved before the lender makes any further disbursements. d) Be careful when estimating costs of completion If asked to provide an estimate of "cost to complete", clearly indicate that it is simply an estimate, not a guarantee. Make sure you fully understand the work that needs to be done and the materials to be used. Stress that you are not a contractor and that a more accurate estimate should be sought from a qualified contractor. You do not want financial disbursements being made based upon what you merely consider to be a "ballpark" estimate. e) Don`t report that work is complete unless and until it is actually finished Only report construction that has been completed at the time of your construction progress inspection. Just because the materials are on site and the contractor assures you that the construction will be finalized does not guarantee that the work will be finished. Materials can be removed and promises can be broken. Even if it means you have to go back to do an additional inspection, don`t report that anything is complete when you know that it is not finished. SUMMARY Even though appraisers are aware of the increased risk with construction progress reports, they often accept such assignments to please a client or preserve an existing business relationship. By following some of the suggested loss prevention ideas, you may avoid being cast as the "villain" when the buyer`s dream home becomes a "nightmare". Read the full Liability Insurance Claim Alert - Click here. Appraisal , Real Estate , Appraiser , USPAP , RESPA , FHA , Bloomington , McLean , Illinois , Home Inspection