Straight from USPAP value, price, opinons

[J Grant]

Take a minute, step back and reread that last part...semantics is NOT specific to everyday language solely. Geez

Okay, so semantics is not specific to every day language. solely
Why are you complaining about this thread, since it is NOT about a petty issue of semantics .( have you even read the thread ?)

An opinion of value is an appraisal. An opinion of price is not an appraisal. That is what it is about.

 

[alebrewer]

Price has bias all over it. Market value as defined by 1004 has no bias.

Appraiser better be sure they don't use bias because of ethics rule.

huh? How is price biased?

 

[glenn walker]

huh? How is price biased?

The word Biased is often used in the wrong context's as is Zoe and Grants. Theirs imply that a Price unlike a Value is biased. In fact all market value or price opinions have a biases in that the appraiser is either leaning towards what the buyer is paying or he doesn't agree with their price. The key word is their biases should be "fair" evenhanded and disinterested in the final Price or Value.

Also when it comes to law suits over racial biases its almost always about the appraiser coming in at a lower price that what the buyer believed it was worth. Note: Buyers and sellers think in terms of Price and Whats its Worth not about so called value because that is something that only that particular buyer can do.

 

[alebrewer]

The word Biased is often used in the wrong context's as is Zoe and Grants. Theirs imply that a Price unlike a Value is biased. In fact all market value or price opinions have a biases in that the appraiser is either leaning towards what the buyer is paying or he doesn't agree with their price. The key word is their biases should be "fair" evenhanded and disinterested in the final Price or Value.

Also when it comes to law suits over racial biases its almost always about the appraiser coming in at a lower price that what the buyer believed it was worth. Note: Buyers and sellers think in terms of Price and Whats its Worth not about so called value because that is something that only that particular buyer can do.

I would agree that any 'opinion' has the potential to be biased - hence all the scrutiny of the appraisal profession of late. A price, by definition, is a fact, not an opinion. As such, there can be no bias.... it simply is the amount of money (or goods if we're talking barter) paid by one entity to another for a good or service.

 

[glenn walker]

I would agree that any 'opinion' has the potential to be biased - hence all the scrutiny of the appraisal profession of late. A price, by definition, is a fact, not an opinion. As such, there can be no bias.... it simply is the amount of money (or goods if we're talking barter) paid by one entity to another for a good or service.

I think scrutiny of appraisals for racial biases has a specific target of a Biases involving the color of the buyer or borrower and its both about the lower value and the lower price the appraiser had placed on the property. The biases that Zoe and Grant are talking about is one they both made up and neither one has any idea what they are talking about it just sounded good to throw that out to get another debate going. I expect a new thread any minute on Value-"V" Price Biases as Grant has already flipped the original Subject into three separate threads.

 

[J Grant]

huh? How is price biased?

A price by itself if not biased. A price is a fact, monies paid or offered.

However, an appraisal done to develop a price opinion can be biased - since price is a fact, a specific $ X. it can result in appraiser shaping the appraisal around achieving X $ as the result.

 

[alebrewer]

However, an appraisal done to develop a price opinion can be biased

Can an appraisal done to develop a value opinion be biased?

 

[Zephyr999]

Okay, so semantics is not specific to every day language. solely
Why are you complaining about this thread, since it is NOT about a petty issue of semantics .( have you even read the thread ?)

An opinion of value is an appraisal. An opinion of price is not an appraisal. That is what it is about.

My complaint, these page on page regurgitations of you trying to grasp concepts as 'teachings' is not helpful to beginners and potentially more harmful as you wiggle around in the arguments to fit your theme.

 

[J Grant]

My complaint, these page on page regurgitations of you trying to grasp concepts as 'teachings' is not helpful to beginners and potentially more harmful as you wiggle around in the arguments to fit your theme.

Your comments are pathetic. Everything I say is in USPAP, therefore the first post is right are USPAP definitions.

I'd like to see a comment from you on the topic other than bashing my post. I believe a beginner could be helped by this thread, you don't. I am not wiggling around arguments to fit my theme. My "theme" is simple -that appraisers do what they say and say what they do - and what they should do is right there in the USPAP definitions.

 

[J Grant]

Can an appraisal done to develop a value opinion be biased?

Yes it can.

However, the fact that an appraisal can be reviewed, and also compared to data and appraisal methodology means a biased developed appraisal can hopefully be seen - if anyone bothers .