What now for CA appraisers?

[Mejappz]

Are you excited yet? I know Mr. Bunton’s checkbook is giddy with anticipation.

 

[Mejappz]

In Arkansas they can fine you severely and take your license away on the first try. But if they fined you $1, good luck doing any work that could involve litigation. That is the first thing the opposition attorney will ask...and he will know the answer before he asks. "Have you ever been sanctioned by a board or sued?" You have lost before a word is ever uttered out of your mouth.

Same thing In Florida. They can heavily fine you make you take “Continuing Education” Classes or strip you of your certification.

Boards are not trained jurists. Boards are usually composed of your very competition. And I've heard too many sitting board members say they learned a lot about USPAP while serving on the board...which implies the old saying, "Physician heal thyself." Perhaps to serve they should have a forensic review of every appraisal they did from the past 3 years....

I had a sitting Board member tell me over the phone that they did not know how to support a bathroom adjustment. Physician heals thyself is right. The only problem is that they heal themselves while fining you or putting you out of business.

 

[Mejappz]

USPAP is the noose the Kangaroo court is the executioner.

 

[TMG]

I'm just going to push the values, to stay out of trouble.

 

[Mejappz]

I'm just going to push the values, to stay out of trouble.

Good idea. It’s the sure fire way to stay out of trouble. Until the loan goes up in flames and then they blame you.

 

[RCA]

It doesn’t really change much, as far as I can see. Valuation is and always has been important in those areas where deciding on the value of something is difficult. This kind of legislative action documents and supports the importance of the profession.

 

[Fernando]

Many appraisers live in the world where given an appraisal assignment, as long as they follow USPAP, appraiser should be fine.
Through my experience and business decision, I have always appraised with owner/borrower in mind. I get criticize for this since they're not my clients.
But the ones usually filing the complaints are not our clients.
I anticipate more unhappy borrowers and agents will be complaining about lower appraised value.

 

[Fernando]

Last month, CA appraisal agency was sending out email for Property Appraiser/Investigator (PAI) job.
I think the state is getting ready to go after appraisers for the complaints to be filed this year.

 

[Charles West]

I'm seeing alot of crosstalk from NationalAppraisersForum members and to a man they are not happy about this new law. Wait till the market stalls or heaven forbid even declines, the marginal deals are going to be ripe grounds for a seller or buyer to get their nose out of joint and then the problems start. Write a tight report has got to be the best real protection. Also maybe an additional insurance rider would be worth looking at.

 

[Fernando]

There are some areas which are difficult to appraise. I can see how a borrower or agent could argue why appraiser didn't use this or that comp to increase the appraised value.
Now I'm wary in appraising in those areas if I know borrower/agent need to get a target price.