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ELLIOTT®
PROMOTES HOLT AND WILLIAMS
  ELLIOTT®
& Company Appraisers has promoted Vice President and Client Services
Director Carlyle Holt to the position of Vice President and General
Manager and Review Appraiser George Williams to Director of Client
Services.
Carlyle, a graduate of North Carolina State University in Economics,
has spent most of his life in the home mortgage industry and holds a
North Carolina Loan Officer License and a North Carolina Real Estate
License. George, a graduate of the University of North Carolina with
a B.S. in Industrial Relations, has been a North Carolina real estate appraiser for almost 25 years.
“Since joining our company both Carlyle and George have not only
met, but also exceeded our expectations,” said Charlie Elliott,
president of ELLIOTT® & Company Appraisers. “Promoting them to their
respective new positions will make better use of their abilities and
improve the management of our company.”
ELLIOTT® & Company Appraisers is a full service real estate
appraisal management company that operates throughout the United
States and beyond.
ELLIOTT®
REGISTERED IN ALL AMC-REGULATED STATES
 For
more than 10 years, ELLIOTT® & Company Appraisers has been able to
secure appraisals, evaluations, research, consultation and
representation for real estate matters anywhere in the United
States. We have been able to continue this despite the proliferation
of appraisal management company (AMC) regulation that has taken
place in many states.
At this writing, 20 states have passed laws that regulate AMCs. Some
of these states charge high fees to the companies they are
regulating. The cost of regulatory compliance to meet these new laws
has discouraged some AMCs from operating in states that charge high
fees. ELLIOTT® works diligently with each state in its continuing
effort to meet every client’s needs.
“Our company remains committed to serving our clients in all 50
states of the United States,” said Charlie Elliott, MAI, SRA, ASA,
and president of ELLIOTT® & Company Appraisers. “It is important for
us to be able to serve our clients in all locations throughout the
United States, and we are prepared to meet all regulatory
requirements, nationwide, in order to make this possible.”
EXPERTS DISAGREE
ON HOUSING PRICES IN 2011
 Will
housing prices increase, decrease or remain flat in 2011? The answer
will come in time, of course, but if you want an answer now, it
would depend upon which “expert” you ask. All three directions have
professional housing analysts pointing their way.
Going up: Warren Buffet, the legendary billionaire investor, has
gone on record for predicting the real estate decline will probably
end in 2011.
“Prices will remain far below the bubble levels, of course, but for
every seller hurt by this there will be a buyer who benefits,”
Buffet was quotes as saying in the Wall Street Journal.
Lately, Bill Ackman, CEO of Pershing Square Capital Management, has
been strongly encouraging people, with money to do so, to invest in
real estate. He points to high affordability, due to low prices and
interest rates, and he expects inventory to decline because of lack
of recent construction activity. Jim Cramer, a veteran stock market
analyst and reporter, looks at the recent stock prices of housing
related companies like Whirlpool, Lowe’s, Sherwin Williams and Ethan
Allen.
“These stocks are screaming that sales for homes are going higher
and that the value of homes is going higher, or people wouldn’t be
throwing good money after bad,” Cramer wrote. “It’s not a question
of when the housing recovery will occur but of how big it will be.”
Going down: Rick Sharga, a RealtyTrac senior vice president, has
forecasted a 5% drop in average home prices during 2011 because of
the foreclosure suspension in the wake of “robosigning” late last
year. Daryl Jones, an analyst at investment-research company Hedgeye,
points to tight credit standards and an 11-month supply of homes on
the market (in November) and suspects that home prices will continue
to decline, perhaps as much as 30% from their current levels.
Remaining flat: A December 22 report by Chris Isodore for
CNNMoney.com
stated, “Economists expect home prices to be essentially flat in
2011, with an anticipated rise of just 0.4%, a bit lower than in
earlier forecasts. Five of the 21 economists who gave home-price
forecasts are projecting prices to fall in 2011.”
The report, which was prepared by consulting 23 economists on
different facets of the economy, noted that the 21 economists who
offered predictions on housing predicted, on the average, home
prices in increase 2.2% in 2012.
FREE LAND STILL
OFFERED IN U.S.
 The
Homestead Act, initiated by the United States in 1862, gave people
free land, primarily in the west. Those who met and accepted the
conditions wound up settling about 10% of the country. While this
country no longer gives land away, such generosity still exists
here. Land giveaways now tend to take place in agricultural-based
towns, with a population of less than 1,000. Most of the free land
is located in the Midwest or the Great Plains states.
One such example is in Ellsworth County, Kansas, where free land is
offered in the communities of Atwood, Ellsworth, Holyrood, Kanopolis,
Lincoln, Marquette, Osborne, Plainville, Tescott and Wilson. In
order to qualify for land in this county, through the Smokey Hill
Development Corporation’s “Welcome Home Program,” one must promise
to build a home of specified qualifications and follow up on that
promise. Obviously, the recipients of the land would then become
taxpayers, supporting the local infrastructure.
Other municipalities, willing to give away land to committed
residents, are located in Alaska, Nebraska, Iowa, Minnesota, North
Dakota and Wisconsin. Muskeegan, Michigan, is willing to give land
to companies that can produce industrial jobs, and Camden, Maine, is
offering a 3.5 acre lot to a business that can generate tourism.
 ASK MARTITIA
QUESTION: Are appraisers required by USPAP to include
their qualifications as part of the appraisal report?
MARTITIA: No. States normally require information on the
appraiser’s license, some professional appraisal organizations ask
their members to list them on their reports, and sometimes clients
request that this be done. The inclusion of qualifications and
professional appraisal designations in the appraisal reports,
however, has nothing to do with the Uniform Standards of
Professional Appraisal Practice.
Martitia Mortimer, Elliott’s executive vice president, answers
appraisal questions on a regular basis in Elliott Evaluation
News.
QUOTES
“It’s easier to do a job right than to explain why
you didn’t.” – Martin Van Buren
“A man will be imprisoned in a room with a door that’s unlocked and
opens inwards, as long as it does not occur to him to pull rather
than push.” – Ludwig Wittgenstein
“Even I don’t wake up looking like Cindy Crawford.” – Cindy
Crawford
“There’s one thing about baldness; it’s neat.” – Don Herold
“What you get by achieving your goals is not as important as what
you become by achieving your goals.” – Zig Ziglar
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kevin@elliottco.com
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