Welcome to the October issue of our Dart Board Newsletter. Spent several nights this past week/weekend picking out costumes for the kids. We finally settled on a princess for our 4 year old princess, a storm trooper for our 6 year old (a costume that was actually purchased last year, but had to be returned because Dad bought the bad Star Wars guy not the good one (orange)…only to be repurchased this year…but I digress), a Hello Neighbor costume for our 9 year old, and a princess (embellished with a masquerade mask and gold lip stick) for our 11 year old princess. It wasn’t that long ago that I wore a ghost costume every year as a child, but I do remember the process being easier….perhaps I’m not remembering it the same as from my parents’ perspective. Even with all of the chasing around, it is a fun time of year and love watching how excited the kids are about this holiday.

Reflections from MBA Annual It was great seeing many of you this month in DC for MBA’s annual convention. The conversations were a bit of a dichotomy this year as there was general concern about volume and cost pressures for the coming year, but at the same time a ton of positive conversations and interest in partnering in the 2019. Many lenders looking for ways to improve their cost structure were very interested in how Dart Appraisal and the other 200 or so exhibitors could assist with that strategy. As one of those exhibitors, we certainly appreciated the extra traffic and interest. Again, back to the dichotomy…so many conversations painted a somber projection for business next year…at least through spring.

MBA titled this convention “Monumental”. Sure there is the obvious pun as to the location in our nation’s capital, but the convention was definitely monumental. Janet Yellen’s take on the current economy, inflationary pressures, fed activity and political involvement/independence, potential recession, yield curve inversion, etc. was fascinating. This session coupled nicely with MBA’s own market outlook for 2019 the following day. I personally enjoyed Tuesday’s general session with Magic Johnson. Growing up a Bulls fan, I’ll always have preference for the Jordan era and enjoyed watching Michael beat Magic in the ’91 finals. That said, I always appreciated Magic’s greatness on the court and it’s clear that he’s had the upper hand in his post basketball career. Hearing his story was not only entertaining, but educational and full of motivation. It’s always great to have reinforced that hard work, persistence, consistency, and trust pay off in the end more times than not.

In contrast to any talk about cost containment earlier, there was no expense spared in many of the parties at the convention and I was able to enjoy several of them. One of the parties was located in the corridors right outside of the galleries at the Smithsonian’s National Museum of American History. I remembered thinking how irresponsible it was to allow party goers with drink in hand to enter the gallery within feet of priceless art exhibits. Almost immediately as that thought entered my mind, I was reassured by an employee of the Smithsonian, who was clearly thinking the same thing, as they quickly guided anyone out that brought a drink or food into any of the galleries. Freedom Mortgage put on a great show with Gavin DeGraw Monday night and MBA was not to be outdone with Concert MBA featuring Kelly Clarkson. That was a great way to end the conference…although the ski party had something to say about when the conference ended officially.

Overall, such a great conference. Enjoyed visiting and meeting with so many of you and found the content very enriching.

Valuations for HELOC Lending In conversations at MBA Annual with many community banks and credit unions, there was talk of running specials this fall to increase home equity lending with their clients and members. That seems to be one area of growth as property values continue to increase in many markets. Knowing the lender often times absorbs the cost of these loans, including the appraisal. Dart Appraisal has many products to help meet your needs, in addition to full appraisals we offer AVMS, BPOs, streamline appraisals, and property condition reports and inspections. Please reach out to mtatarcuk@dartappraisal.com to learn more.

Thank you for your business and as always your feedback and suggestions. If there is anything we can do to assist with your appraisal management needs, please don’t hesitate to contact me.

Thank you,

Michael