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  #1  
Old 01-12-2009, 09:32 AM
gogogomez gogogomez is offline
 
Join Date: Mar 2008
State: Oregon
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Default Why does the appraisal, and how much they're paid, matter

http://www.latimes.com/business/la-f...ef=patrick.net

LA times article via Patrick.net
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  #2  
Old 01-12-2009, 09:45 AM
Randolph Kinney Randolph Kinney is offline
 
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Location: SoCal
State: California
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Default

Quote:
Originally Posted by gogogomez View Post
Good article and he asks the right questions too.

Quote:
Should you care that the appraiser might be pushed to come up with a number so fast -- almost overnight in some cases -- that he or she doesn't have the time to do a proper inspection and accurate evaluation of comparable properties, pending sales contracts and local market trends?
Quote:
The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.
Quote:
George Dodd, an appraiser in Virginia, said the most experienced appraisers will be the "hardest hit" by the new code "because of our unwillingness to sacrifice integrity and quality" by doing business with management firms. Rather than work for peanuts, Dodd said, "I can flip burgers at McDs for more."
  #3  
Old 01-12-2009, 10:04 AM
jnordquist's Avatar
jnordquist jnordquist is offline
 
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State: Pennsylvania
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Default Jeff Schurman, TAVMA

The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.


What he forgot to note is the article that he wrote saying they do, I think I will send it to the writer of the article
  #4  
Old 01-12-2009, 08:15 PM
Groveball Groveball is offline
 
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Default

Stop the madness!
  #5  
Old 01-12-2009, 08:26 PM
Jim Shoe's Avatar
Jim Shoe Jim Shoe is offline
 
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Location: Mission Viejo
State: California
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Default

Quote:
Originally Posted by jnordquist View Post
The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.


What he forgot to note is the article that he wrote saying they do, I think I will send it to the writer of the article
Do you have the link to this article?
  #6  
Old 01-12-2009, 08:28 PM
Groveball Groveball is offline
 
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Default

jim,

link is at the top
  #7  
Old 01-12-2009, 08:32 PM
Jim Shoe's Avatar
Jim Shoe Jim Shoe is offline
 
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Default

Quote:
Originally Posted by Dan Goldberg View Post
jim,

link is at the top
The link to the page that was printed to PDF.
  #8  
Old 01-12-2009, 11:43 PM
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Jack Hines Jack Hines is offline
 
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State: Ohio
Professional Status: Certified Residential Appraiser
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Default

http://www.tavma.org/index.php?optio...=121&Itemid=32
  #9  
Old 01-13-2009, 05:50 AM
Claude From NY Claude From NY is offline
 
Join Date: Jan 2002
Location: NYC - Long Island
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Posts: 2,563
Default Flip Flop

Then
Quote:
...I argued that lowering appraisal fees can have an adverse affect appraisal quality over time. I boldly proclaimed that lowering vendor fees can actually result in higher vendor fees as low-cost but washed out, burned out, or just plain exhausted providers leave the business in search of something more profitable to do.
Jeff Schurman 11/2007

Now
Quote:
The Title Appraisal Vendor Management Assn., which represents third-party managers, denies that lower fees result in less-accurate home valuations. Jeff Schurman, the group's executive director, said, "There's no evidence of that," and if there were, major banks and mortgage lenders would not hire them.

more recent ramblings:
http://www.tavma.org/index.php?optio...=161&Itemid=32
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