Thursday, October 15, 2009

Largest quake event ever, luckily, only a drill


The statewide drill occurred two days before the 20th anniversary of the magnitude 6.9 Loma Prieta Earthquake which killed 63 people throughout northern California, injured nearly 4,000 and left as many as 10,000 people homeless.

by Broderick Perkins
© 2008 DeadlineNews.Com
Enter The Deadline Newsroom
Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - More than 6.8 million people participated in the second Great California ShakeOut earthquake drill this morning, the largest earthquake drill ever.

The annual drill teaches Californians how to prepare for earthquakes; to practice how to protect against earthquake injury (drop, cover, and hold on); and to learn how to recover quickly by safeguarding property and finances in advance.

Last year, 5.4 million people participated in the Great Southern California ShakeOut.

The drill is now annual and statewide to improve preparedness and practice protective actions.

"The ShakeOut drill helps people and organizations practice how to be safe during earthquakes, and also to improve their preparedness," said Mark Benthien, executive director of the Earthquake Country Alliance and director for communications of the Southern California Earthquake Center.

The Earthquake Country Alliance, the coalition that has organized the drill, includes leaders in disaster response, science, business, media, education, government and local communities.

Major organizations represented include, the California Emergency Management Agency, Southern California Earthquake Center, United States Geological Survey, California Earthquake Authority, California Department of Education, American Red Cross, Federal Emergency Management Agency, State Farm Insurance, Ready America, and many others.

It's not to late to get prepared for the Big One.

The Southern California Earthquake Center estimates that there is a 50 percent chance of a magnitude 7.5 or greater earthquake somewhere in California in the next 30 years.

The statewide drill occurred two days before the 20th anniversary of the magnitude 6.9 Loma Prieta Earthquake which killed 63 people throughout northern California, injured nearly 4,000 and left as many as 10,000 people homeless.

The Loma Prieta quake's epicenter was south of Silicon Valley and the San Francisco Bay Area in the Forest of Nisene Marks State Park in Santa Cruz County and was the first major earthquake in America to have its initial jolt broadcast live on television.

That's because the quake occurred during the warm up for the third game of the 1989 World Series, ironically featuring both of the Bay Area's Major League Baseball teams, the Oakland Athletics and the San Francisco Giants.

• Click on the keywords below for more stories on this subject.

© 2008 DeadlineNews.Com



Advertise on DeadlineNews.Com | Shop DeadlineNews.Com

Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
National Offbeat News Examiner
National Consumer News Examiner
National Real Estate Examiner



DeadlineNews.Com's Editorial Content Is Intellectual Property • Unauthorized Use Is A Federal Crime


Read more!

Appraisers applaud stiffer state regulations

dlnlogo
Pepsi iPhone app for scoring, scorned
Following in the footsteps of Arkansas, Louisiana, Nevada, New Mexico and Utah, the state of California, effective Jan. 1 2010, will impose regulation and oversight on appraisal management companies (AMCs) working in California.

by Broderick Perkins
© 2008 DeadlineNews.Com
Enter The Deadline Newsroom
Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - States are once again stepping up to the plate to address some housing issues federal efforts often fall short on.

Following in the footsteps of Arkansas, Louisiana, Nevada, New Mexico and Utah, the state of California, effective Jan. 1 2010, will impose regulation and oversight on appraisal management companies (AMCs) working in California.

AMCs will have register with the Golden State's Office of Real Estate Appraisers (OREA) and comply with standards that require management companies operating in the state to identify, and provide contact information for all officers and directors who own 10 percent or more of the company, as well as for all individuals who perform management functions.

The individuals will have to submit to criminal background checks and may not have had their licenses or certifications as appraisers or a real estate agents or brokers refused, denied, canceled or revoked in any other state in order to practice in California.

AMCs, companies that comprise networks of independent appraisers, gained a higher profile beginning May 1 with the onset of the Home Valuation Code of Conduct (HVCC).

In an effort to put uniformity in the property valuation process, an agreement between New York Attorney General Andrew Cuomo, Fannie Mae and Freddie Mac, and the Federal Housing Finance Agency, HVCC, among other provisions, made AMCs the go-to appraisal stop for certain loans.

But appraisers, home builders, mortgage brokers and real estate brokers all have had their qualms about the HVCC and AMCs.

In general, critics say AMCs are largely inexperienced, drive honest appraisers and mortgage brokers from business with low prices and reduced competition, all while increasing costs to consumers and reducing state revenues.

AMCs' trade group, the Title/Appraisal Vendor Management Association, has cried "smear" and fired back earlier this year, claiming they are getting the job done and at a fair cost in the brave new world of housing.

The feds did toughen regulations with some HVCC clarifications and the removal of a cap on appraiser fees, but not before appraisers and others took the fight to the state level.

"This new law will help to protect both consumers and appraisal professionals in California, and we eagerly anticipate the positive effects it will provide to the state's real estate market and its residents," said Appraisal Institute President Jim Amorin.

The new law is based heavily upon legislative guidelines developed by the Appraisal Institute in conjunction with the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers. It's what the industry would like to see a federal level.

The flurry of state laws, and the federal HVCC, represent dramatic changes in the appraisal industry as a result of questionable housing market ills that contributed to the housing bust.

• Click on the keywords below for more stories on this subject.

© 2008 DeadlineNews.Com



Advertise on DeadlineNews.Com | Shop DeadlineNews.Com

Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
National Offbeat News Examiner
National Consumer News Examiner
National Real Estate Examiner



DeadlineNews.Com's Editorial Content Is Intellectual Property • Unauthorized Use Is A Federal Crime


Read more!