Significant Appraisal Assistance (1004p)

[Carnivore]

Editorial Comment: Take what I am about to say with a grain salt so to speak and I mean no disrespect.

Most Residential Appraisers across the nation are 'One Trick Pony's'! If you think about that critically in regards to your own practice you will see a way to survive this fast n cheap game All Lenders and AMC's play. Face it your a Pawn in their world. Lenders view you as a Cost Center and a Speed Bump. AMC's view you as a revenue stream. AMC's like you as long as you agree to their terms and conditions.Too an AMC your just a Mule! They dangle a carrot on a stick in front of you, at the end of the day you only get a part of that carrot as long as you play by their rules. Imagine this: You are a Mule in a corral with other Mules...They dangle a small or part of a small carrot on a stick just outside the reach of most of you, because you respond to slowly, you hesitate and your just not hungry enough.

So diversity is the only way you can beat them at their game.

1. Activate your RE Broker License and make arrangements with a Local RE Company to make listing referrals for and even go so far as to farm for listings for that company by agreeing to a Referral Fee.

2. Offer good Pricing for an Actual Appraisal to Realtors so they can better deal with Stubborn Home owners

3. Provide Measuring Service to RE Brokers!

3a . Offer Photo taking with the measuring service.

3b. Include placing For Sale Signs for new Listings while your out there..

4.. Expand your Licensing capability to include Home Inspections

5. Get a seat on your County Board of Equalization for Tax Eval's This is a short term thing 1-2 years but I think you can repeat this cycle in your County

There is more ,,,but i think you get the point.

 

[George Hatch]

hahahaha.
you can interrupt my comments any way you want. no attack, just facts. good try though.

That was a statement of fact, not an interpretation.

 

[George Hatch]

Big difference if appraiser is inspecting both subject and comparables and driving neighborhood and analyzing not only internal influences but external influences, which constantly change.

So the appraiser is incapable of "analyzing" from their desk? Appraisers never use any more data sources beyond their own observations in the field?

Nobody is saying the two SOWs produce the same level of data or the same opinions and conclusions. That's a strawman that we should not be using in this discussion. I would go so far as to suggest the use of that strawman by appraisers - who should know better - to be both dishonest and unethical. Or incompetent, if that's actually the case.

*Of course* the 1004P will involve more assumptions and limitations on the appraiser's part and *of course* the potential increases for appraisers coming to different conclusions than if they had personally performed the inspection. Nobody here is arguing otherwise, even if some of the bankers might be working off the wrong idea.

 

[djd09]

you attack appraisal mills. difference? only you can do it? either way my fact based statement was incorrectly analyzed by you for the purpose to attack me.

 

[DWiley]

Only 'appraisers' that aren't really appraisers anymore think that all you do at a subject property is data collection. Take off the suits, cancel one of the many BS conferences you attend, and get out in the field.

LOL. Well, the first time I wrote that for public consumption was back in 2001. It is documented as part of the USPAP instructor certification course. So, any notion, claim, or inference that my view on the topic is based on my current job/position, or that it is based on some “support” for hybrids, it just patently and demonstrably false.

George actually attended the very first USPAP instructor course ever offered. So, he can verify that I was saying the same thing nearly twenty years ago, when I was a firm owner and working in the field (as I did for 29 years).

Also, I generally don’t wear suits.

 

[J Grant]

You're just making the point that it's the *extent* of the data collection that is affected. No different than if you were to compare the appraiser's activities in a 2055 vs a 1004.

And yeah, I usually do see things the way Danny does. If you looked at things from a more conceptual perspective I think you would, too.

Fannie has said - and a lot of appraisers believe - that the requirements of the form drive the process. That's akin to saying the underyling fundamentals are an expression of the application, as opposed to saying the application is the expression of the underyling fundamentals. You usually test the concepts and principles by comparing them to the applications, whereas I test the applications by comparing them to the concepts and principles.

I believe that's why you want USPAP to be changed to better fit your preferences for the applications. You want to tell the intended users what they can use. I want to let them decide for themselves what - beyond our minimums - their other legitimate expectations are so I can adjust my efforts to fit.

Goody goody for you- since many of those intended users ( certain lenders and fannie /bailouts/predatory/risky loans/passing off D and C paper as A paper toxic loans)- their istory of what they do when they are allowed to decide "what to use". speaks for itself . Which was why they needed increased regulations to keep their worst agenda in check-when they were de regulated pre housing crash look at where their decisions led and similar trajectory now that regulations are loosening. Since public tax payer backing and health of housing markets are at stake, I think this set of users given their history and what is at stake needs to be told what to use...so we differ on that.

 

[George Hatch]

you attack appraisal mills. difference? only you can do it? either way my fact based statement was incorrectly analyzed by you for the purpose to attack me.

I criticize the conduct of the appraisal mills and other supervisors who exploit trainees. That's hardly personal.

An example of me attacking you on the personal level would be calling you a form monkey or criticizing you because you work for AMCs or criticizing you for taking seriously some of the idiots who spew the conspiracy rantings that you seem to be listening to, that is criticizing you in lieu of addressing your arguments. Addressing your comment by saying it's not really an argument is just that - addressing the comment.

In fact, my explanation in this post is still addressing your comments and reasoning and should not be interpreted as a personal attack on you. If you post a comment it doesn't matter who/what you are, or who/what I am or the status of anyone who agrees or disagrees. Only the reasoning provided matters - does it resonate, does it stand up to examination or critique, what are its strengths and weaknesses? etc..

Our standing here on this forum is wholly dependent on the credibility of our reasoning, not on who/what we are or are not. As far as that goes, reasonable people do disagree here; and for cause.

 

[George Hatch]

Goody goody for you- since many of those intended users ( certain lenders and fannie /bailouts/predatory/risky loans/packing D and C paper as A paper toxic loans)- many of them have a compromised history of what they do when they are allowed to call teh shots on of "what to use"...which was why they needed regulations to keep their worst agenda in check-when they were de regulated pre housing crash look at where their decisions led and similar trajectory now that regulations are loosening. Since public tax payer backing and health of housing markets are at stake, I think this set of users given their history and what is at stake needs to be told what to use...so we differ on that.

Another blatant strawman. I would go so far as to say that's a seriously dishonest allegation for you to levy at me. When have I ever defended the excesses of the bankers? You know better than that; or at least you should know better than that.

I don't disagree with you about the conduct of the bankers or the need for them to act more cautiously and with greater regard for safe/sound. I just disagree that regulating the lenders - and what they as users consider to be be meaningful - falls within the scope of practice for appraisers.Regardless of form or structure our appraisal standards exist to address the professional standards for conduct and practice by appraisers. Not as a supplemental layer of regulation over the conduct of the lenders.

 

[J Grant]

On a lighter note...of what Will I be unable to do...

Escape my house to go an inspection when my litter mates get on my nerves!

Drive my car- it will save on miles okay that is good my driving skills will go down lol.

Stop for lunch or coffee after an inspection since I am out anyway

Meet real people at sites and interact ,

On a not so light note...newer appraisers will lack field experience, how will they even be able to give a context to what the inspectors send them? Fannie's vision is for appraisers to sit at a computer pumping out disconnected "data" analysis. Pretty hard to retain the role of an independent opinion, the one and only professional not out to make $ contingent on closing...this is (imo) not just about speed or saving borrowers a few $, it is a deliberate way to weaken the appraiser;s role and will achieve it , a weakening already underway from AMC involvement.

 

[George Hatch]

LOL. Well, the first time I wrote that for public consumption was back in 2001. It is documented as part of the USPAP instructor certification course. So, any notion, claim, or inference that my view on the topic is based on my current job/position, or that it is based on some “support” for hybrids, it just patently and demonstrably false.

George actually attended the very first USPAP instructor course ever offered. So, he can verify that I was saying the same thing nearly twenty years ago, when I was a firm owner and working in the field (as I did for 29 years).

Also, I generally don’t wear suits.

That was definitely a learning experience for me, and I daresay for most everyone who has ever gone through that course. Even if it has been moreso for some than for others. And yes, every one of these themes goes straight back to that material as conveyed in that course, and which have formed the basis of my participation on this forum since then.

And yes, Danny was running a fee shop at that time and would continue to do so throughout the remainder of his tenure on the ASB (that went on for several years after we met) and for several years after that. If memory serves - and I may be mistaken about this - it wasn't until after the ZAIO wars that he got recruited out of private practice and into his current gig.