5 Reasons Why Relationships are So Important to the Appraisal Process

Good relationships serve as the cornerstone in just about every line of business. Tasks become easier and company goals are more attainable when everyone works together. A company's plans run more smoothly with respect, honesty, and consideration at the helm of the partnership. As with any industry, the success of the appraisal process depends on a solid relationship between the appraiser, the appraisal management company, and the bank or credit union.

At SAMCO, we strive to ensure our relationships with appraisers and financial institutions are second to none. Here are a few of the key reasons why we believe good relationships are so vital in our line of work.

Leprechauns Wore Red: Little-Known Facts About St. Patrick's Day

St. Patrick's Day has been a popular holiday for hundreds of years, but many aspects of it remain shrouded in mist as thick as pea soup. From leprechauns to shamrocks and shillelaghs, there's more to the symbols of St. Patrick's Day than meets the eye. Here's your chance to impress your friends with your knowledge of St. Patrick's Day's most colorful symbols and traditions.

Why do appraisers choose to work with SAMCO ?

SAMCO works with an extremely talented group of appraisers in multiple states. The appraisers that we work with have an exceptional skill set for their markets. Our clients (Community Banks & Credit Unions) offer services in some pretty unique areas. From a farm in the Midwest to the Upper Peninsula of Michigan (SNOW Country). Our appraisers know their markets.

5 Tips for Checking if Your AMC Fee is Accurate

If you are a mortgage lender, appraisal management fees are a necessary part of your business. Before you choose an appraisal management company, you want to make sure you are getting a fair price. It's important to know how to tell if an AMC fee is accurate. What is an average AMC fee? How much do AMCs typically charge? Here are five ways to tell if an appraisal management fee is accurate.

Should an Appraiser Use Foreclosures and REO Sales as Comps?

In the wake of the 2008 financial crisis, home sale activity plunged and foreclosures increased dramatically. As a result, the pool of recent sales appraisers could use as comparable sales shrank. At the same time, REO sales (“Real Estate Owned” by banks) became an increasing percentage of sales. In many cases, appraisers used REO sales in their appraisals – with complaints subsequently levied by brokers and buyers who argued that the use of REO sales resulted in appraisals that understated market value. So what exactly is an appraiser supposed to do in such a situation and is the use of foreclosure or REO sales acceptable practice?

7 New Year's Resolutions to Get Your Finances in Shape in 2018

New Year offers the chance of a fresh start, and one of the most positive changes you can make is to get your finances into shape. When your money's under control, life's less stressful in most other ways as well. Here are seven New Year's resolutions which will help smooth your financial path through 2018.


Stop One Bad Habit

The path to a better budget is easier when you take it one step at a time. This New Year, think of one bad financial habit you have and aim to eliminate it as soon as you can. Whether this is online impulse shopping you later regret or a weakness for eating out when you can't really afford it, making one single change is more achievable than trying to change your whole financial life around.

Facetime with your banker

The times have certainly changed! Just a few short years ago no one would even have thought of applying online for a mortgage. A recent study by the American Bankers Association showed that 60% of real estate borrowers today prefer to apply in person for their mortgage instead of applying online.  I’m not surprised that it’s 60%, I’m surprised that 40% of today’s borrowers would choose NOT to be face to face with their banker. That same survey revealed that 66% of today’s borrowers are not confident with their knowledge of the mortgage process. Could be a fairly strong correlation and the reason the borrower would want a ‘real’ person helping them.

What’s in your wallet (or home equity)?

CoreLogic recently showed that the value of home equity has doubled in the past five years. Most of that is not from borrowers paying down on the principle but in the added value of real estate. The value has gone from $6 trillion five years ago to $13 trillion this year. Not only that, but CoreLogic is predicting another $1 trillion additional being added to the equity side in this year alone! Now there is a wide variation depending on what part of the country you are in, but everyone has gained equity.

Property taxes to high?

Are your property taxes too high? If you think so, you’re standing with some pretty high rollers. Walt Disney Parks (Magic Kingdom, Epcot and Hollywood Studios), along with SeaWorld, Universal Orlando, and other commercial property owners have filed over 100 lawsuits against the Orange County Appraiser Rick Singh. But believing that their properties assessments are exceeding fair market value and proving it in the Orange Circuit Court will be two different things!

The county assessor (Singh) valued Epcot at $446 million, Magic Kingdom at $437 million and Hollywood Studios at $339 million. There are other lawsuits for quite a few hotels that are not just owned by Disney, but by other corporations.


About Us

In everything we do, we believe in open and honest relationships. In knowing our client, the community banker, the way they know their customers and community. 

The way we achieve that client relationship is by always being available, improving our client's service to their customer, providing regulatory compliance, and saving our client actual dollars. This is accomplished through working together as a team, being completely open and frank to our SAMCO teammates/clients, and by taking personal responsibility.