California Breaks Record For Number of Licensed Appraisers

RISMEDIA, May 31, 2006—The California Office of Real Estate Appraisers (OREA), the state department that issues licenses to California's Real Estate Appraisers, now licenses more appraisers than ever before.

"OREA is committed to ensuring that only qualified individuals are licensed to appraise real estate," OREA Acting Director Tony Majewski said. "It is critical that lenders and consumers have confidence that licensed appraisers are qualified and professional, complying with the strict standards of the industry."

Currently, there are nearly 20,000 licensed and certified real estate appraisers in the state. In 2005, the number of appraiser licensees rose to a record of more than 17,800. This year, the trend continues with the number of licensees climbing to 19,675 as of May 2006. OREA processed more than 5,000 applications for new licenses in FY 2004-05 within 90 days to meet the needs of the real estate industry during the recent U.S. housing boom. With an increased number of licensed and qualified appraisers, mortgage lenders and brokers have a broader selection of professionals to add to their list of approved appraisers in their market areas. For more information about the Office of Real Estate Appraisers and its programs visit www.orea.ca.gov. Click here for the complete RISMedia story! If you enjoyed this post, subscribe and get FREE updates! Appraisal , Real Estate , Appraiser