PAREA Update

[chad hampton]

Everyone who’s looked at these reports has come away with the conclusion that they are garbage anyway.

 

[Joe Flacco]

Things are changing in the GSE space. That is just the reality.

The best thing recently licensed, or any appraiser that still has 20+ years to go can do for themselves is to understand that the GSEs are only a slice of the appraisal pie. It's a big slice but it is not the whole pie.

 

[chad hampton]

They even call it a 1004.

Wait till the AMCs come after the private work. There won’t be any independent appraisers left to fight. This isn’t even a profession if you step aside and let people take your work. That seems like a cowardly thing to do.

 

[Joe Flacco]

The title insurance industry prepares for battle

With a slowing housing market, an aging workforce, wire fraud threats and the resurgence of AOLs, the title insurance industry is in for a battle next year.

www.housingwire.com

This article about title reads a lot like appraisal.

1) Decline in transaction volume
2) GSE use of alternatives to title insurance
3) Aging workforce

The only real difference is the title insurance trade group has taken a strong stance against alternatives while the appraisal institute is quiet.

 

[Mike Ault]

I anticipated that we were going to lose the bulk of our GSE assignments to AVMs eventually, but I never anticipated they were going to divide and conquer what's left of us through "efficiency measures" such as hybridization. And I never expected to see the president of the Appraisal Institute under this banner leading the way at Pavilion 11.

 

[George Hatch]

Give me a break, you have a sketch of the home with rooms, interior photos, interior, materials, condition, quality and everything else you would get from a normal appraisal inspection. That’s as misleading as it gets. Anybody reading that form will be under the impression it was the appraiser or someone the appraiser is supervising did the inspection.

I don’t participate in misleading activities. I don’t believe in hiding things somewhere in the fine print on page 37.

Answer the question. I'm posting the hardwired verbiage that's in the form itself. There is no burying involved.

Do you honestly think an intended user can fairly claim to have been misled or shorted *by the appraiser* who is working to specs on this assignment and using this form? Do you think a state board could make that allegation stick in front of a judge when these disclosures - and whatever other elaboration/clarification the appraiser provides on Pg 3 - appear all through the report?

 

[George Hatch]

Everyone who’s looked at these reports has come away with the conclusion that they are garbage anyway.

There are a lot of things appraisers can do wrong in any assignment. These aren't some exception to that reality. So I daresay that when you find one that is "garbage" it will be for reasons (plural) other than the inspection.

If I screwed up my comp selection you couldn't attribute that to me not inspecting my subject. Or to the $25 fee I agreed to. What really happened is I didn't take enough time/effort to find the best comps.

 

[chad hampton]

I anticipated that we were going to lose the bulk of our GSE assignments to AVMs eventually, but I never anticipated they were going to divide and conquer what's left of us through "efficiency measures" such as hybridization. And I never expected to see the president of the Appraisal Institute under this banner leading the way at Pavilion 11.

Are you saying the AI isn’t an advocacy organization?

 

[Mike Ault]

Are you saying the AI isn’t an advocacy organization?

They are definitely advocating for someone. I just don't believe it's for their dues paying residential appraiser members.

 

[djd09]

oh dont worry, the fast and cheap pushers, will whine and cry about quality...gaslighting extraordinaires