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  #1  
Old 08-01-2005, 06:06 AM
Julio E. Sune, Jr. (FL)'s Avatar
Julio E. Sune, Jr. (FL) Julio E. Sune, Jr. (FL) is offline
 
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Location: Miami, Florida
State: Florida
Professional Status: Certified Residential Appraiser
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http://money.cnn.com/2005/07/18/real_estat..._0508/index.htm

"the lowest bidder always win the [appraisal] job"

"In other words, salespeople and lenders are lining their pockets by encouraging appraisers to look the other way".

"And request an appraiser who has an MAI or SRA designation from the Appraisal Institute, meaning he or she has a minimum of two years of field experience and 200 hours of classroom training."

[And the yaada yada yada goes on and on!!]

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Old 08-01-2005, 07:54 AM
Otis Key's Avatar
Otis Key Otis Key is offline
 
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Location: Mile High
State: New Mexico
Professional Status: Certified Residential Appraiser
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Thanks Julio. Of course, I couldn't stand the missing the opportunity to at least a nice email to her about her presentation of "facts" in the article. Maybe some others would join in to express an opinion.

Quote:
Ms Willis,

In a recent article that you wrote and was published in Money magazine on July 22, 2005 and was subsequently shown on Money.CNN.com you wrote and I quote:

"And request an appraiser who has an MAI or SRA designation from the Appraisal Institute, meaning he or she has a minimum of two years of field experience and 200 hours of classroom training. "

I would like to provide you with some information. I would suggest that you research Title XI and FIRREA. After you have done your research and read that pertinent information, I believe that you will find that the Federal Government mandated states to enact licensure/certification programs, as well as state appraiser boards. That was accomplished by every state in the Union. Each state has a minimum of classroom hours and subsequently adds on a minimum of experience hours. Those hours, in most states, are the same as those required by the AI that you have shown in your article and quoted above.

The purpose of my email is to let you know that you do NOT have to be a member of the AI to be a good and honest appraiser. I have been appraising for 20 years and have yet to have a valid complaint filed with the state. Instead of promoting just one organization, at least give due recognition to all of the known reputable organizations or don't give any at all, as it appears that you've been paid to advertise for them.

Appraisers who are state certified are the most experienced and have the more education on a state basis. Licensed appraisers fall shortly under the certified appraisers. Following that is typically an apprentice or trainee license. Each state has a different "classification" or name for the different levels. Within certified there are typically General and Residential classifications. Almost every state has a web site that list appraisers within that state. Almost each of those web sites shows the appraisers "status" with the state as far as "standing".

I would like to state again, association or affiliation with an appraisal organization does not guarantee honesty or integrity. It does not necessarily guarantee a more accurate or truthful appraisal analysis. I would like to also invite to join, for free, the Appraisers Forum < http://appraisersforum.com > for free, where you can read, observe and communicate with appraisers from across the US and one or two from Australia. You might be surprised.

State Certified since 1990 and still providing honest appraisal reports for more than 20 years.

Respectfully,
Otis Key

  #3  
Old 08-01-2005, 10:22 AM
Farm Gal's Avatar
Farm Gal Farm Gal is offline
 
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Location: Currently: Midwest
State: Nebraska
Professional Status: Licensed Appraiser
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I fired this off on Aug 19th, the day I saw his/her article:

Gerri:

I appreciate your fairly even-handed article about the appraisal process from a consumer standpoint.

However, I would point out that your advice regarding seeking an Appraisal Institute Member, omits some designated members of other fine professional organizations, AND the fact that in order to obtain a license in most states an appraiser would have to _at a minimum_, pass the low end requirements you specified.

Due to the fact that many appraisers started in this business during the boom times of the recent refinancing craze, there are many appraisers who have the license and the 'minimum chops' you indicated, who in fact cannot appraise their way out of a paper bag, and have been under supervised through-out their entire training period!

Tenure of greater length or membership in any of the fine professional organizations may bring a higher class of appraiser, and State "Certification" rather than licensure may also be indicative of greater length of training and supervision.

But not always.

Kind Regards,
Lee Ann ______
Licensed Appraiser
with 14+ years of experience and a passion for GOOD quality appraising
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  #4  
Old 08-02-2005, 10:26 PM
Mike Boyd Mike Boyd is offline
 
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Location: Santa Rosa, CA
State: California
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Lee Ann,

Your are too nice. AND, you failed to point out that there are equally fine appraisers who opt NOT to join any union or organization, or who have dropped there membership because they found the leadership had a different agenda than sought by a specific individual. That certainly does not mean they are less of a "fine appraiser."
  #5  
Old 08-03-2005, 12:08 AM
Mike Garrett, RAA's Avatar
Mike Garrett, RAA Mike Garrett, RAA is offline
 
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Location: Colorado Springs, CO
State: Colorado
Professional Status: Certified Residential Appraiser
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Wait...you mean an MAI has at least two years experience? :rainfro:
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  #6  
Old 08-03-2005, 08:52 AM
Farm Gal's Avatar
Farm Gal Farm Gal is offline
 
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State: Nebraska
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Mike:

In most states a MAI has to be a general certified. <_< and I didn't say nuthin about MAI's.
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  #7  
Old 08-03-2005, 09:31 AM
Mike Garrett, RAA's Avatar
Mike Garrett, RAA Mike Garrett, RAA is offline
 
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Location: Colorado Springs, CO
State: Colorado
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In my state an MAI could be anything! I was saying that tongue in cheek. Most MAIs have at least 5 years experience at a minimum and that would usually be one with a degree in real estate or appraising. My guess is our MAIs here average more than 20 years experience.

While it is good advice to seek a designated appraiser, the cost of having an MAI doing a simple residential appraisal is usually prohibitive. One of our forum members gave up his MAI to do residential appraisals for the VA. Less stress and more work. The commercial side of the business here is very cut throat.

State licensing or certification lowered the bar when it came to education. That bar is again being pushed up with new appraiser qualifications which will be in affect in 2008. I hate to admit it but some of the people I see entering the field are poor candidates for appraisal licensing. 75 hours, a short test and, bingo, an instant appraiser!
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