Posted by Jonathan J. Miller -Thursday, February 16, 2012, 8:30 AM Comments Off
I was invited to keynote the February 2012 dinner meeting for the Appraisal Institute: Long Island Chapter in Westbury, Long Island to talk about the Long Island, regional and US housing markets, the problem with housing finance, misdirection in the market etc. with an extended Q&A session. …90 minutes of valuation discussion bliss.
It was great to see friends and acquaintances, let alone be invited to speak on issues I am so passionate about. I generally rail quite a bit about our profession, but I am speaking about the 80%, largely enabled by the AMC industry. The 20% was represented by the meeting attendees who have local market knowledge and are striving to improve their craft.
It became apparent to me from attendee feedback that:
AMCs account for most residential mortgage lending
AMCs provide terrible quality valuations but bank staff are mandated to use them from above
The industry is aging – not much new blood is entering the profession (of course I am excluding AMC “form-filler” types called “appraisers” in name only but don’t actually appraise in my view
The expectation of 3-5 more years of current conditions was consensus
Banks are looking to expand but are not going to be easing credit anytime soon
Many appraisers there were busy working on distressed and refinance property assignments, not sales
Posted by Jonathan J. Miller -Monday, February 28, 2011, 1:00 PM Comments Off
Here’s the promo of our venture MillerQA and details of our next event.
My good friend Barry Ritholtz will be my guest in the second half of the event. He is a noted economist, author, media pundit and blogger. In his day job, Mr. Ritholtz is CEO and Director of Equity Research at Fusion IQ, an online quantitative research firm. The firm makes its institutional strength number crunching available to individual traders and investors.
The release date falls on the day after I turn 50 so find it in your hearts to cut me some slack (important note: 25 years before appraising + 25 years appraising = a balanced life) as I hobble from spreadsheet to spreadsheet.
Posted by Jonathan J. Miller -Wednesday, September 8, 2010, 7:10 PM 5 Comments
In an economic downturn, many people take the opportunity to reinvent or reinvest in themselves and go back to school, take classes, seminars etc.
There is a lot of conflicting information and statements made on the housing market these days. We launched MillerQA to provide an easy way for busy professionals to gain insights on the housing market that may help them or their clients make more informed decisions. And obtain continuing education credits at the same time.*
*Application for accreditation of this program in New York is currently pending. Real estate agents, attorneys and accountants can visit millerqa.com for continuing education status.
A little background…
Two years ago, John Cicero, my partner in our commercial valuation firm Miller Cicero suggested we create a seminar program since he has taught property valuation at NYU and Baruch and I speak more than 50 times a year on market conditions in the NYC metro area and the national housing market. We got busy with other things and two years went by. My wife Cheryl and my sister Dina, co-founders of our appraisal firm Miller Samuel and I began to kick this idea around again. So I called my friend Karen van de Vrande, former Chief Marketing Officer for Prudential Douglas Elliman to join us and help make this idea happen. All 5 of us spent the next 4 months brainstorming.
We learned two things:
we get along
we need make the experience interactive.
Thus, MillerQA was born. The “QA” represents Q&A sessions after each presentation and the commitment to making this an interactive experience.
John came up with a cool idea of adding iClickers to our seminars so the audience can participate, something his kids use in college. And my wife came up with our mantra:
I’m not quite ready to use the word “haunted” in my housing language, but I had a nice chat with Brian Sullivan and Mandy Drury of CNBC TV’s ‘Street Signs’ – 30 Rock is always quick walk from my office... Read More