Hybrid Appraisal Extraordinary Assumptions

[Meandering]

I found the E-mail Request for the Desktop. After I re-read the email I realized that they were having trouble getting someone to do this Desktop assignment. Dang, i could have made an offer of about $200 bucks and maybe they would have bit.

https://www.google.com/maps/place/8...5ac95a42a8567947!8m2!3d35.054463!4d-80.699587

Property ID: 24094285
Address: 8722 Potter Rd, Matthews, NC 28104
County: UNION
Form: CC Desktop Appraisal
APN: 06042025B
Property Type: SFR
Land Use: Residential
Building Sq. Ft.: 1,309
Full Baths: 2
Lot Sq. Ft.: 99,317
Year Built: 1973
Source: Public Records (2017)

Send it to Denis and George.
They know the answers to giving the client what they want.
And they own computers with internet access, so they are competent.

Captains of Industry should benefit from their knowledge and ability to figure it out faster than anyone else.

.

 

[Carnivore]

after decades prohibiting trainees or runners to inspect, now allowing a RE agent or home inspector to do it...hybrids are about squeezing more volume at lower cost out, human nature is funny that way...

I think your onto something here.

Fact/Claim - AQB is responding to so called shortage of appraisers now and worse in future.

GSE's other lenders moving to Desktop! Lower cost faster turn around.

Many appraisers are leary of the desktop Drive by Inspector

I have a partial solution for solving the problem(s).

Inspectors should be be Trainees with State Trainee number i.e NC T1234 They receive some credit towards licensing experience.

Desktop Appraiser gets request, with T1234 as inspector - as an appraiser I now at least know something about the inspectors qualifications.

---------------------------------------------

Something that occurred to me; Where is the analysis/commentary on Risk assessment by our E&O Carriers? Seems like they have skin in this game!

 

[Mr Rex]

How about the know everythings,
Get TAF to change the USPAP first?

Hey there's an idea,
Or maybe it's just easier to get rid of it all together.

After all,
if clients are going to tell you everything you need to know,
and tell you what they only want to see in their reports,
what the heck do you need USPAP for any way?
Why even have TAF or the Appraisal Foundation?
Why have licensing, certs, and CE?

Heck, clients know what they want,
And they know what you don't know, and can tell you what you don't know, and you can agree with them.



Yup,
as long as anyone can inspect,
Why have a Certification just because they changed the report title to Appraisal, instead of evaluation.

Do you really need all those CE classes to recognize the report title is now Appraisal, so you have to have a license to sign it,
but nothing else is different than evaluation,

Except your license.

Where in USPAP does it say an appraiser has to inspect a property to do an appraisal (or if you want to go there) an evaluation?

 

[glenn walker]

USPAP does not require a physical inspection of a property it's part of SOW and most lenders wants at minimum a exterior inspection ( Really A Observation ) but our tax assessors out here in many cases never even drive bye a property. In extremely rural areas like out in Alaska land and Forrest appraisals are completed by using nothing but data -satellite photos and in some cases flying a small plane over the general area. It's all about SOW and making a business decision so why the constant harping about limited reports or Evaluations - My feeling is a lot of the old timers hate them because they have been hyping the full appraisal for so long they really believe a property has to be inspected. After the mortgage meltdown I inspected hundreds of vacant REOS and guess what all had been inspected and appraised in the previous 2 to 6 years and at least 50% were toast because the owners trashed them before leaving SO those physical inspections were only good the day those original appraisals were done.

It's all about money both for the lender and appraiser BUT my guess is if the fee for Evaluations was $300.00 everyone on this forum would be doing them and all the sudden the high and mighty on the forum would find a way to add a few addendum's or certifications - And boldly stamp that last page with a big red rubber stamp that declared For $300.00 this " Evaluation Has Been USPAP Certified And Completed By A State Certified Appraiser"

 

[J Grant]

I think your onto something here.

Fact/Claim - AQB is responding to so called shortage of appraisers now and worse in future.

GSE's other lenders moving to Desktop! Lower cost faster turn around.

Many appraisers are leary of the desktop Drive by Inspector

I have a partial solution for solving the problem(s).

Inspectors should be be Trainees with State Trainee number i.e NC T1234 They receive some credit towards licensing experience.

Desktop Appraiser gets request, with T1234 as inspector - as an appraiser I now at least know something about the inspectors qualifications.

---------------------------------------------

Something that occurred to me; Where is the analysis/commentary on Risk assessment by our E&O Carriers? Seems like they have skin in this game!

Nice idea but it won't work...

The reason there is an appraiser shortage ( on res GSE lending side_)) is because the working conditions and fees from AMC's are so bad that it attracts few new people and existing appraisers can not afford to nor want to train. Rather than correct the fee situation , they are doing workarounds to not use appraisers in some assignments and marginalize them in others ( hybrids).

They want cheap plentiful inspectors for hybrid work and a trainee is neither . Most regions have a large supply of home inspectors and RE agents , all they need is to find enough in any area willing to work cheap and they can get the inspection end of the hybrids fulfilled.

 

[J Grant]

USPAP does not require a physical inspection of a property it's part of SOW and most lenders wants at minimum a exterior inspection ( Really A Observation ) but our tax assessors out here in many cases never even drive bye a property. In extremely rural areas like out in Alaska land and Forrest appraisals are completed by using nothing but data -satellite photos and in some cases flying a small plane over the general area. It's all about SOW and making a business decision so why the constant harping about limited reports or Evaluations - My feeling is a lot of the old timers hate them because they have been hyping the full appraisal for so long they really believe a property has to be inspected. After the mortgage meltdown I inspected hundreds of vacant REOS and guess what all had been inspected and appraised in the previous 2 to 6 years and at least 50% were toast because the owners trashed them before leaving SO those physical inspections were only good the day those original appraisals were done.

It's all about money both for the lender and appraiser BUT my guess is if the fee for Evaluations was $300.00 everyone on this forum would be doing them and all the sudden the high and mighty on the forum would find a way to add a few addendum's or certifications - And boldly stamp that last page with a big red rubber stamp that declared For $300.00 this " Evaluation Has Been USPAP Certified And Completed By A State Certified Appraiser"

Yes, the inspection is good for eff date of appraisal, who knows what will happen years out? Why in the world would there be an expectation for what condition will be years down the road?

And why is that a revelation ...the reason many appraisers do not want to do evaluations is because of low fee, so of course for a higher fee more appraisers would do them...the problem most have with them is fee (doh) and turn time, with short turn times liming results and a low fee also intersects with that, appraisers making low fees can only afford to spend a short time on an appraisal and if an evaluation involves a value opinion or benchmark value , it is no longer an evaluation it is an appraisal...why else are they bothering with the appraiser doing them...

It does not make an appraiser "high and mighty" for not wanting to do desktop work at low fees, it is a business decision. If the fees deteriorate to a certain point it just does not pay to maintain a license and pay for cont ed/ RE board membership/ E an O insurance/ software etc..

 

[J Grant]

Back to the OP post, was this EA on a URAR form, or not?

 

[Mr Rex]

There are over 30 desktop appraisal forms available in Total.

 

[glenn walker]

ORIGINAL POST FROM : Denis DeSaix Said : Received a copy of a sample hybrid report. Below is part of the Assumptions and Limiting Conditions (I didn't reproduce it all; just those sections I thought were significant to the hybrid process) So no it was not a URAR.

 

[J Grant]

ORIGINAL POST FROM : Denis DeSaix Said : Received a copy of a sample hybrid report. Below is part of the Assumptions and Limiting Conditions (I didn't reproduce it all; just those sections I thought were significant to the hybrid process) So no it was not a URAR.

"But this particular party has included EAs, which isn't necessarily a bad thing."

Above from the OP post...he posted an EA from a party ( appraiser) we have no idea if it was added to a URAR form or not.