Mary Cummins, Real Estate Appraiser, Real Estate Appraisal, Los Angeles, California, Mary Cummins.

Mary Cummins is a real estate appraiser in Los Angeles, California with 38+ years of experience. Cummins provides real estate appraisals for banks, lenders, mortgage brokers, Appraisal Management Companies (AMCs), lawyers, Courts, factors and private parties for lending, lawsuits, probate, estate planning, divorce and all types of litigation. Cummins provides 1004, 1073, 1025 and other form reports, narrative reports and historical appraisals besides real estate research and appraisal advice.

Showing posts with label number. Show all posts

Tuesday, December 28, 2021

Number Licensed Real Estate Appraisers in California per BREA by year by Mary Cummins

Mary Cummins, Real Estate Appraiser, California, BREA, OREA, license, licensee, certified, residential, general, trainee, Los Angeles, number, increase, decrease, year

UPDATE: 02152024 As of November 6, 2023 there are 8,796 appraisers in California down from a 20,000 peak in 2007.

More stats:

59% are aged 50-69
65% are male

https://www.brea.ca.gov/pdf/23-493_BREA_Fall_Winter_Newsletter_web.pdf

Numbers for last 22 years or so are below:

2002 10943

2003 12167

2005 18854

2007 20100

2009 15625

2014 11868

2015 11189

2016 10852

2017 10742

2018 10562

2019 10056

2020 9630

2021 9461

2022 9374

2023 9012

2024 8796

08/01/23 As of June 15, 2023 there are 9,012 appraises in California down from 20,000 peak in 2007. https://www.brea.ca.gov/pdf/BREA_Spring_Summer_Newsletter2023.pdf

12/31/22 From the fall/winter newsletter. "As of October 1, 2022, there are 9,374 active appraisers. Eight percent are trainee level, 10% are residential level, 53% are certified residential level, and 29% are certified general level." Basically only 82% can appraise for federally backed bank loans. Number is down again.

05/06/2022 Number of licensed appraisers as of March 16, 2022 is 9,613. "Eight percent are trainee level, 10% are residential level, 53% are certified residential level, and 29% are certified general level." This is based on the newsletter below which I received 05/06/2022.

What's concerning is the number of certified residential is 4,988. You must have a Certified Residential appraiser for loan purposes if the loans are backed, insured by the federal government. You can also be a certified general but CR is the minimum needed. Number of trainees doesn't matter that much because business is way down now because of increasing interest rates. I doubt most get their final licenses because there won't be any work. You also need a minimum of two to three years of experience to get work. I wrote about this in a previous article about the problems with the trainee model.

https://brea.ca.gov/pdf/Newsletter%202022%20spring-summer.pdf

ORIGINAL: Above is a chart of the active licensed real estate appraisers in California per the California Bureau of Real Estate Appraisers. The numbers are also in a table below. This includes Trainee, Residential, Certified Residential and Certified General. The numbers aren't taken from the exact same time every year because that is how they reported it via their website. Most were November of each year. The numbers came from the Spring or Winter Newsletter reports. The specific dates and numbers are listed below.

In Spring 2009 the head of BREA (then called OREA) Bob Clark stated "With the unprecedented appreciation in real estate values, OREA experienced a dramatic increase in licensing activity, going from approximately 18,800 licensees in 2005 to over 20,100 licensees by the beginning of 2007. With the decline in the real estate market, the pendulum has swung in the opposite direction, with a current license population of approximately 17,300."

There were 17,300 in the Spring (maybe March 2009) and 15,625 by November 30, 2009. Today we have less than 50% of the number appraisers we had in 2007 right before the peak then crash. We have about 10,000 fewer Appraisers. This doesn't mean we don't have enough appraisers.

The peak before the Great Recession was about 2007. Homes had appreciated greatly and rates were low so everyone was buying, selling and refinancing. This caused a huge demand for real estate appraisers, agents and mortgage brokers. There is always a large influx during these times. It is expected to lose licensees as the market slows because there is less business. Appraiser licenses renew every two years today. It makes sense that licensees would not renew their license when it expires after the slowdown. For this reason there could be up to a two year lag between the slow down and loss of licensees. Some got their license to appraise as a side gig. Licensees doesn't mean they are working appraisers or full time working appraisers.

Below is a chart of the U.S. National Home Price Index. You can see the 2007 peak and subsequent Great Recession. You can also see our current crazy market.

US National Home Price Index, BREA, Mary Cummins, Real Estate Appraiser

One would expect an increase in the number of appraisers when the market heats up like it has done within the last few years. Oddly enough there is no increase in the number of licensed real estate appraisers. I believe one of the reasons there hasn't been an increase is because of the current Trainee Appraiser Program. Today a new real estate appraiser must work at as Trainee for a licensed, experienced Appraiser for a certain number of hours. That is difficult to almost impossible because licensed Appraisers generally don't want to mentor trainees. Nothing to gain, everything to lose. I wrote an article that outlines the problems HERE with possible solutions.

The market is expected to continue to appreciate though not at the crazy rate of 2020 and 2021. Some lenders, mortgage brokers such as Better.com have already eliminated some lending agents. One of the reasons it will slow is because the Fed has stated they will increase interest rates in 2022 maybe even more than once. Another reason is lack of inventory and many being priced out of the market. While some Appraisers were busy and had lag times within last six to 12 months things have already slowed and not just because of the holiday time of year. We may not need more appraisers.

The Government stated they are working to understand the Appraiser issue. By the time the issue is resolved there won't be a need for as many because of the market. Things have already slowed and will slow further. Maybe we just don't need as many appraisers as we did in the past. Today some lenders use appraisal waivers and AVMs. This could end up being a non issue.

Some lenders, AMCs, others are stating there aren't enough appraisers. This isn't true. There may not be enough appraisers today willing to do desktop appraisals for $65-$130. Most appraisers don't want to do desktops because of the liability issue. The law and form states we must agree that we have enough verified data to complete the assignment. If you don't do the inspection, drive the comps, you don't have enough data. What if there's a major defect in the property, area, comp photos are photoshopped... Then the appraiser is on the hook for any loss. It won't matter that you relied on the inspection by John Doe and comp photos on MLS. You're still liable. Why accept the same liability for 1/5 to 1/3 the payment?

Below is a cartoon about the issue. It's an older cartoon but it rings true today.

appraiser shortage, not enough appraisers,cartoon, lie, false, mary cummins, real estate appraiser

AMCs, Lenders, others want to make it super easy for new appraisers so they can recruit newbies to underpay. Some AMCs, Lenders are offering trainee hours in house. That looks like influence to me. Some want certain people to be able to easily get appraisal licenses for other reasons. There is an agenda.

While I feel the trainee system needs adjusting, we shouldn't get rid of it. We also shouldn't get rid of all education and experience requirements as some have been stating like Maxine Waters. That opens up the government, financial institutions and banks to huge levels of fraud. That would never pass Congress, thank god.

Chart number of licensed real estate appraisers in California by year. Licensing was first mandatory in 1994 because of legislation. I've been appraising since 1984 as a real estate agent though no license was needed at the time.

Year	# Licensed Appraisers
2002	10943
2003	12167
2004
2005	18854
2006
2007	20100
2008
2009	15625
2010
2011
2012
2013
2014	11868
2015	11189
2016	10852
2017	10742
2018	10562
2019	10056
2020	9630
2021	9461

2022 9413

Below is where I got the data so you can see the actual dates. The 2007 data came from the quote above. As of December 1, 2021, there are now 9,388.

Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.

Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin

Mary Cummins

Mary Cummins of Cummins Real Estate Services has been in real estate since 1983, over 35 years. She is licensed by the Bureau of Real Estate Appraisers. Mary Cummins was an agent and broker licensed with the California Department of Real Estate selling residential income, commercial buildings, raw land and homes for Merrill Lynch Realty in Beverly Hills and Westside Properties in Los Angeles before concentrating on appraisals. Mary Cummins currently provides real estate appraisals, expert witness testimony, historical research, legal real estate research for mortgage brokers, banks, lawyers, factors, insurance companies, financial consultants and private individuals. Mary Cummins was born and raised in Southern California. Cummins attended Beverly Hills Good Shepherd Catholic School and Beverly Hills High School. Besides being on the Dean's list, Mary Cummins was a top ten national swimmer and competed on the men's water polo team. Mary Cummins began college at the age of 15 attending the University of Southern California on scholarship, majoring in Psychology/Sociology. http://www.animaladvocates.us http://www.facebook.com/AnimalAdvocatesUSA

Monday, August 9, 2021

Measuring, describing land using metes and bounds, PLSS, lot and block and parcel numbers by Mary Cummins

mary cummins, real estate, appraiser, los angeles, california, plss, metes and bounds, land, real estate, real property, public land survey system, tax assessor parcel number, apn, lot, block, map, plot, plat, subdivision, tract, prime meridian, base line, section, township, range, tax assessor, parcel, assessor, survey, measure, describe, book, page, how to read, los angeles county

The original means of property descriptions and measurements in the US was the metes and bounds method. Metes and bounds was originally used in England for centuries then brought to the US with the first colonies. The "metes" are the length of the runs in a direction and the "bounds" are the boundaries. Below is an example of an older metes and bounds description of property one might find in a 17th century US land deed.

"Commencing at a corner at the intersection of two stone walls near an apple tree on the north side of Muddy Creek road one mile above the junction of Muddy and Indian Creeks, thence north for 150 rods to the end of the stone wall bordering the road, thence northwest along a line to a large standing rock on the corner of the property now or formerly belonging to John Smith, thence west 150 rods to the corner of a barn near a large oak tree, thence south to Muddy Creek road, thence down the side of the creek road to the point of commencement."

Modern day property measurement and description use the government survey system or Public Land Survey System PLSS. The PLSS system is based on set principle meridian and base lines across the US based on exact locations using longitude and latitude. Using the base lines the land is divided into sections, townships and ranges, see image above.

A section is one-square-mile block of land. There are 36 sections in a survey township. A township is a square parcel of land of 36 square miles, or a measure of the distance north or south from a referenced baseline, in units of six miles. See image below.

An example of the PLSS description would be "the Northeast quarter of the Northeast quarter of Section 10, Township 3 South, Range 68 West of the 6th Principal Meridian, Arapahoe County, Colorado" or "NE/4 NE/4 of Section 10, T-3-S, R-68-W, 6th P.M., Arapahoe County, Colorado."

In the city the most common type of legal property description and measurement is the subdivision tract, lot and block method. After describing land using PLSS it's further divided into smaller tracts of land which are then divided into lots and blocks via plat maps. A plat map, also known as a “plat,” shows you how a tract of land is divided into lots in your county. It is drawn to scale and records the land's size, boundary locations, nearby streets, flood zones, and any easements or rights of way. A plot map is a single plot or piece of land. Below is a description of real property using the subdivision and lot names and numbers. Subdivisions or tracts can have regular names such as "Highland Park" or use numbers.

Lots 6, 7, and the South ½ of Lot 3, West 60 feet of South ½ of Lot 4, West 60 feet of Lot 5 and Lot 8, Block 20, OLD SURVEY, Leesville, Vernon Parish, Louisiana.

If it were just one full lot in a subdivision, the description could be just TRACT # 14386 LOT 286.

We also use the Tax Assessor Parcel Number (APN) to describe property. The APN uses the Tax Assessor’s Book Number, Page Number and the individual Parcel Number. An example of a parcel number in Los Angeles county would be 4248-005-021 where the first four numbers are the book number, next three are the book page number and the last number is the parcel number. Below is an image which explains Los Angeles County plat maps. Click to see larger.

Here's a specific example of a Los Angeles county legal description and APN. I'm using a property that includes parts of two lots to make it more complex. The legal description is "WESTMORELAND HEIGHTS TRACT S 41 FT OF LOT 43 AND N 20 FT OF LOT 44." This is an old tract so it has a name instead of a number. The Assessor's Parcel Number is 5074-019-004. The last number of the APN is in the pink circle, i.e. 4. The red arrow is pointing to the specific piece of land. It's the south 41 feet of lot 43 and the north 20 feet of lot 44. You can see the measurements on the lot lines, i.e. 20' x 41'. You see a lot tie or hook symbol in between lots 43 and 44 which shows the lots are tied together. It looks like a tall "Z" like this image and can be angled like an italic "Z." Click images to see larger.

When you buy real estate you are actually buying only the land. Legally this entitles you to anything permanently affixed to the land. If you look at a real estate deed you will only see the legal description and the tax assessor parcel number. You don't see a description of the home or any other structures on the land. In the US the main types of land descriptions and measurements are the Public Land Survey System PLSS, lot & block description and tax assessor parcel map and numbers.

Mary Cummins of Animal Advocates is a wildlife rehabilitator licensed by the California Department of Fish and Game and the USDA. Mary Cummins is also a licensed real estate appraiser in Los Angeles, California.

Google+ Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary Cummins-Cobb, Mary, Cummins, Cobb, wildlife, wild, animal, rescue, wildlife rehabilitation, wildlife rehabilitator, fish, game, los angeles, california, united states, squirrel, raccoon, fox, skunk, opossum, coyote, bobcat, manual, instructor, speaker, humane, nuisance, control, pest, trap, exclude, deter, green, non-profit, nonprofit, non, profit, ill, injured, orphaned, exhibit, exhibitor, usda, united states department of agriculture, hsus, humane society, peta, ndart, humane academy, humane officer, animal legal defense fund, animal cruelty, investigation, peace officer, animal, cruelty, abuse, neglect #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit

Mary Cummins

Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California

Tuesday, December 28, 2021

Number Licensed Real Estate Appraisers in California per BREA by year by Mary Cummins

Monday, August 9, 2021

Measuring, describing land using metes and bounds, PLSS, lot and block and parcel numbers by Mary Cummins