Coronavirus / Covid-19 Resource Center

March 23, 2020

►  Update: Monday, May 4th 2020

Good afternoon from your ALIA Team.  May is upon us and increasingly the country is eager to start getting back to a state of normalcy.   Please be sure to regularly check with your state and local authorities for the latest information on what restrictions have been added or removed.

► Update: Thursday, April 30th, 2020

Good afternoon from your ALIA Team. Many states are preparing to relax the stay at home mandates and allow some businesses to resume activities.  While this may not be back to normal for all, it does indicate a move in that direction.  Please check with your state and local authorities for the latest information.

Below are a few links we think are helpful regarding the COVID-19 impact on the Home Inspector industry and Small Business:

Latest Business News:

• Updated Stay-at-Home Orders by State: https://www.wsj.com/articles/a-state-by-state-guide-to-coronavirus-lockdowns-11584749351 (WSJ.com)
• Small Business COVID-19 Resource Center:  https://americassbdc.org/covid19/ (America’s Small Business Development Center)

In Industry News:

• The Way You Communicate With Agents Just Changed Forever:  https://www.spectora.com/r/communicating-with-agents-post-covid/ (Spectora.com)
• After the Pandemic, Will Consumers Want Larger Housing?  https://magazine.realtor/daily-news/2020/04/29/after-the-pandemic-will-consumers-want-larger-housing (Realtor Magazine)

Continuing Education Discount
Don’t forget, this is a great time to fulfill your Continuing Education requirements so you’re current when the Real Estate industry rebounds.  We are happy to extend to you a 20% discount on all courses through our partner OnCourse Learning.  You can take courses such as:

• Alternative, Renewable, Sustainable, and Green Energy
• Energy Audit Basics
• Report Writing for Risk Reduction

Discounts are available on Home Inspection products too!   Simply click the link to be redirected to their site – no additional code is needed:  OnCourse Learning – Home Inspectors Continuing Education 

If you should have any further questions you can reach us through our Hotline at (1-800-882-4410 x6).

Thinking of you and wishing you well.

► Update: Thursday, April 23rd, 2020

 

Good afternoon from your ALIA Team!  We are well into week 5 of Coronavirus-Covid19’s impact on our country.  It is our hope that you remain healthy and safe.  We feel it is important to provide you with the latest news impacting the real estate industry and want to share some information that may be useful from this past week.   Below are a few links we think are helpful regarding the COVID-19 impact on the Home Inspector industry and Small Business:

 

► Update: Monday, April 20th, 2020

We feel it important to provide you with the latest news impacting the real estate industry and want to share some information that may be useful from this past week.  Below are a few links regarding the latest COVID-19 impact on Small Business and the Appraisal Industry:

• COVID Loan Tracker – Are you waiting for your Small Business loan from the Federal Government CARES Act? Go here:  https://www.covidloantracker.com/
• The IRS’s Get My Payment App Is Live So You Can Track Your Stimulus Check:  https://money.com/stimulus-check-track-get-my-payment-irs-portal/ (Money.com)
• FDIC – Federal Banking Regulators unveil new rules for some appraisals: https://www.housingwire.com/articles/banks-will-soon-be-able-to-postpone-some-appraisals-until-120-days-after-a-mortgage-closes/

Continuing Education Discount
Don’t forget, this a great time to fulfill your Continuing Education requirements so you’re current when the Real Estate industry rebounds.  We are happy to extend to you a 20% discount on all courses through our partner OnCourse Learning.  You can take courses such as:

• Appraisal Math and Statistics
• Residential Report Writing and Case Studies
• Sales Comparison Approach

Simply click the link to be redirected to their site – no additional code is needed:  OnCourse Learning – Appraisers Continuing Education

If you should have any further questions you can reach us through our Hotline at (1-800-882-4410 x6). Please visit the ALIA Coronavirus/COVID19 Resource Center for all related information.

► Update: Monday, April 13th, 2020

Below is the latest regarding the latest COVID-19 impact on Real Estate Appraisers:

•  ASA Webinar – COVID-19 Latest Developments and Collaborative Efforts (Youtube ASA – April 10th)
• From the Appraisal Institute:  AI Asks FHFA to Rethink Non-GSE Appraisal Requirements   (Appraisal Institute)
• US Small Business Administration (SBA) – Coronavirus-COVID-19 Small Business Guidance & Loan Resources (SBA.org)

Continuing Education Discount – Appraisers
Don’t forget, this a great time to fulfill your Continuing Education requirements so you’re current when the Real Estate industry rebounds.  We are happy to extend to you a 20% discount on all courses through our partner OnCourse Learning. You can take courses such as:

• Residential Appraiser Site Valuation & Cost Approach
• Sales Comparison Approach
• Supervisor Trainee Appraiser Course (NEW!)

Simply click here – no additional code is needed:  OnCourse Learning – Appraisers Continuing Education

If you should have any further questions you can reach us through our Hotline at (1-800-882-4410 x6). Check back on this page for regular updates.  

Stay strong and safe out there!

 

► Update: Thursday, April 9th, 2020

We hope that you remain healthy and safe.  We feel it important to provide you with the latest news impacting the real estate industry and we want to share some information that we feel may be useful.   Below are a few links regarding the latest COVID-19 impact on the Home Inspector Industry:

• Be Aware of Security Flaws During Your Next Video Call (Realtor Magazine)
• US Small Business Administration (SBA) – Coronavirus-COVID-19 Small Business Guidance & Loan Resources (SBA.org)
• Updated COVID-19 Home Inspector News by State   (ASHI)

Continuing Education Discount – Home Inspectors
Don’t forget, this is a great time to fulfill your Continuing Education requirements so you’re current when the Real Estate industry rebounds.  We are happy to extend to you a 20% discount on all courses through our partner OnCourse Learning.  You can take courses such as:

• Alternative, Renewable, Sustainable, and Green Energy
• Energy Audit Basics
• Wood Destroying Organisms

Simply click for the discount – no additional code is needed:  OnCourse Learning – Home Inspectors Continuing Education 

If you should have any further questions you can reach us through our Hotline at (1-800-882-4410 x6). Check back here for regular updates.

Thinking of you and wishing you well.

 

► Update: Monday, April 6th, 2020

Good afternoon from your ALIA Team.  We hope that you and your families still remain healthy and safe. We want to share some news that we’ve found from around the web regarding the COVID-19 impact on the Appraisal Industry:

• From the Appraisal Foundation:  Coronavirus and Appraisers – Your Questions Answered (AppraisalFoundation.org)
• Listing of State Appraisal Regulators (ASC.gov)
• The Week Ahead: Insight form the FHFA Director on Forbearance (DSnews.com)

Continuing Education Discount – Appraisers
Don’t forget, this a great time to fulfill your Continuing Education requirements so you’re current when the Real Estate industry rebounds.  We are happy to extend to you a 20% discount on all courses through our partner OnCourse Learning.  You can take courses such as:

• Cost Approach Overview
• Supervisory Appraiser/Trainee Appraiser
• A URAR Form Review

Click for the 20% discount:  OnCourse Learning – Appraisers Continuing Education

If you should have any further questions you can reach us through our Hotline at (1-800-882-4410 x6). Check back here regularly for updates.

Stay strong and safe out there!

► Update: Thursday, April 2nd, 2020

Good afternoon from your ALIA Team.  We hope that you and your families remain healthy and safe.  In our continued commitment to keep you up to date with the latest news impacting the real estate industry, we want to share some information that we feel may be useful.

CARES ACT
Last Friday, the Economic Security Act (CARES Act) was passed by Congress and signed by the President. This allows small businesses to take advantage of financial assistance from the government during this time of uncertainty.  Below are two excellent resources we’ve identified to help you and your business gain some relief during these challenging times.

► Update: Friday, March 27th, 2020

Some of the most common questions we are fielding from Home Inspectors relate to changes in the practice of home inspections and business-related issues such as handling a gap in revenue and positioning themselves for a surge in activity when the pandemic gets under control.  We believe looking first at guidelines offered by national professional organizations is the best way to remain in-line with the standard of care for the profession.  We’ve identified the following alerts posted by the American Society of Home Inspectors (ASHI).

• On 3/23/2020 a video was posted regarding home inspection safety during COVID-19 by Reuben Saltzman which we feel does an excellent job of talking about new safety approaches for both the home inspector and homeowner.  (https://www.homeinspector.org/HomeInspectionNews/covid-19-and-home-inspections.3-26-2020.2845/Details/Story)
• On 3/25/2020 an article was posted by Beckie Strum about new Coronavirus Clauses being inserted into Home Buyer contracts. (https://www.homeinspector.org/HomeInspectionNews/faced-with-uncertainty-home-buyers-seek-coronavirus-clauses-in-contracts.3-25-2020.2838/Details/Story)
• Most importantly, ASHI published a COVID-19 National Map of different state responses.  We’ve been leveraging this excellent resource to keep up with unique challenges facing our customers who are spread across all 50 states.  (https://www.homeinspector.org/Resources-News/Covid-19-Updates-by-State)

We will continue to monitor other National and Professional sources for relevant posts and link them to the Resource Center https://aliains.com/coronavirus-covid-19-resource-center/.  If any of you see other articles or announcements, please respond to this email with a link to the article.  We will circulate it among our 3,000 nationwide customers to help spread the word.

Thank you, and please contact us directly for any questions or suggestions.

► Update: Monday, March 23rd, 2020

Thank you for being a loyal ALIA customer.  The Coronavirus pandemic is uncharted territory for our communities, the economy, and the real estate marketplace in particular.  The future will be challenging for the entire country, but ALIA is here for you. Our business already practices workplace flexibility, so we expect no disruption to the service levels you currently experience.

Many real estate professionals are approaching this situation by asking questions:  How do I handle a gap in income?  Can I continue to afford my insurance?  How do I best position my company for when business rebounds?  These are terrific questions, and we are available to discuss them with you.

Finally, if you are under a “Shelter in Place” order like many areas, this is an excellent time to complete some Continuing Education credits, so your requirements are out of the way when the market recovers.

Our team will send out weekly emails to proactively address some of the common questions we are fielding as well as highlight some online CE courses you may find interesting.

You can reach us through our Hotline at (1-800-882-4410 x6)

Disclosure wording in Appraisal Reports

One of the most common questions we are fielding relates to disclosure wording in Appraisal Reports for current conditions.  We believe looking first at guidelines offered by national professional organizations is the best way to remain in-line with standard of care for the profession.  Accordingly, we identified the following alert posted by the American Society of Appraisers on Friday, March 20, 2020.  We believe this article adeptly summarizes three key issues facing appraisers today: 1) Keeping yourself and others safe, 2) Future market Conditions, and 3) Exterior Only Appraisals.

We will continue to monitor other National and Professional sources for relevant posts and link them to the Resource Center.  If any of you see other articles or announcements, please respond to this email with a link to the article.  We will circulate it among our 3,000 nationwide customers to help spread the word.

Thank you, and please contact us directly for any questions or suggestions.

Quoted from Appraisers.Org website:

Assignment Protocols

The Coronavirus or Covid-19 is impacting our daily lives in an unprecedented fashion with declared states of emergency and with officials advising people to avoid each other whenever possible. As appraisers we are expected to go into homes and businesses in order to complete our assignments. While in many ways the risk from the flu virus is greater, we need to respect the concerns of those we come into contact with. For that reason, we offer the following suggestions.

1. Talk with your clients about Covid-19 to see if they have any protocols they would like you to follow.
2. Let your clients know you will have a conversation with the borrower/owner when scheduling the appointment to identify any risk of infection. This conversation should also provide the borrower/owner with the opportunity to ask you screening questions or to assure them you are not ill.
3. The appointment scheduling call is a good time to let the borrower/owner know if you will be wearing gloves, not shaking hands, etc.
4. Screening should be limited to questions about the Coronavirus and flu such as:
   • Is anyone in your household currently sick with a fever and/or a cough?
   • Has anyone in your household been exposed to a person who has or is suspected of having the Coronavirus?
5. If the appointment is set for a few days later, you may wish to ask again when you arrive at the property.
6. Communication is key – between you, your client, and the people you will come into contact with — to avoid misunderstandings.

Learn more about recent ASB issued Q&A for interior inspections, and flexibility provided to appraisers.

Future Market Conditions

Additionally, the MBREA recommends that appraisers address future market conditions in their reports. President, Michael Nicora, RA, in a March 19, 2020 COVID-19 e-mail update, cited lessons learned in 2008 where appraisers were frequently held accountable for losses incurred by lenders and the GSEs when the recession struck. Nicora provided the sample below developed by MBREA for appraisers to use. He also encouraged appraisers to seek the advice of their attorney.

“Statement Relative to the Coronavirus (COVID-19) COVID-19 has been declared a pandemic and a national state of emergency in place. Substantial turmoil has occurred in financial markets and due to the developing situation, it is not possible at this time to quantify its long-term or short-term effects on real estate markets or on the subject property. The value opinion contained in this appraisal is based on findings of an analysis of market data available to the appraiser at the time of the assignment.” – Source MBREA

Extraordinary Assumption

Lastly, the MBREA recommends that appraisers also include an extraordinary assumption in reports. As noted by Nicora, the use of such is permissible contingent on a reasonable basis and credible analysis results per USPAP Q&A. Nicora provided the sample below developed by MBREA for appraisers to use. He also encouraged appraisers to fully document the basis for use in their report and workfile.

“Extraordinary Assumption – Interior Inspection of the Property Due to the COVID-19 virus, an interior inspection has not been made. The appraiser’s personal inspection consists of viewing the subject from the street frontage. Information on relevant physical characteristics has been obtained from sources specified in the appraisal’s scope of work. If the information obtained from these sources is incorrect, the assignment results of this appraisal could be affected. ” – Source MBREA

Link to Appraisers.org Article here: https://www.appraisers.org/asa-newsroom/article/2020/03/20/covid-19-assignment-protocols-and-report-recommendations-for-appraisers