Why does the appraisal, and how much they're paid, matter

[gogogomez]

http://www.latimes.com/business/la-fi-harney11-2009jan11,0,521867.story?ref=patrick.net

LA times article via Patrick.net

 

[Randolph Kinney]

http://www.latimes.com/business/la-fi-harney11-2009jan11,0,521867.story?ref=patrick.net

LA times article via Patrick.net

Good article and he asks the right questions too.

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?

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.

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."

 

[jnordquist]

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

 

[Groveball]

Stop the madness!

 

[Jim Shoe]

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?

 

[Groveball]

jim,

link is at the top

 

[Jim Shoe]

jim,

link is at the top

The link to the page that was printed to PDF.

 

[Jack Hines]

http://www.tavma.org/index.php?option=com_content&task=view&id=121&Itemid=32

 

[Claude From NY]

Flip Flop

Then

...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

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?option=com_content&task=view&id=161&Itemid=32