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Principle of Substitution, ....

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shrubberyvaluation said:
There are complaints that have gone through the courts for years that have nothing to do with the credibility of the report. From unrelated books (as it pertains to the appraisal being complained about) over a half century old and complaining about using comps from the same community/neighborhood how well you document everything will matter very little and only after you have been destroyed by public opinion if you are unfortunate enough to be in the firing line. People don't want to hire someone that has been trashed in public opinion as being biased even if you have the best well documented credible report.
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I don't think you know what you are talking about. First, if an appraiser has been "trashed in public opinion", they may simply not want to work as an appraiser anymore, because it was never that financially rewarding in the first place. And, when you say "public" - you don't mean the real public, you mean AMCs and lenders (most likely).

Where you are wrong, is that there are certainly a few high-level appraiser managers who have been repeatedly trashed in public and professional opinion, gone out of business, and then popped up again and again as founders of new appraisal companies. Some having had their license revoked for years got it back and just kept going. One of the appraisers who hired me in the very beginning was rather successful - but eventually lost his license. He was making well over $600K a year with his own residential appraisal company but eventually lost his license because his opinions were a little too aggressive for the OREA (now BREA). I can believe that he didn't like to sign reports by trainees or give them copies of their reports so they could get their licenses. For me, it was like pulling the tooth out of an elephant. Anyway, after losing his license, he apparently handed his company over to some other appraisers to run - and I assume kept up a very good income stream. He went into photography (portrait, fashion, real estate, ...), traveling, and all kinds of other things. You can still see a number of websites with his pictures - and him traveling in Thailand and other exotic places. Hmmm. What a life. I think he is about a year younger than me. I imagine he has settled down in Thailand or some such exotic place - he would be about 75 now. His websites haven't been updated since several years ago, so hard to say. The last pictures show him as being very overweight, so maybe he now has health problems. I simply don't know. He was a pretty sharp appraiser and could run off regulations at a moment's notice. But, the moral of the story is that many of these people are quite smart and it's really not that easy to put them down.
 
TerryRohrer said:
Well, clearly you have a deep understanding! Some contend with markets that require something more than picking the three sales of identical properties that closed yesterday, and have to think about what they are doing.
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That is all good and fine but larger set of data is always inferior to smaller set of data. No question about it.
 
Smiley Face said:
That is all good and fine but larger set of data is always inferior to smaller set of data. No question about it.
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I would say that a larger set of less closely qualified data is inferior to a smaller set of more highly qualified data. Apart from that if both datasets were equally well qualified then more just about has to be better than less; to a point, anyway. I've seen commentary that the sweet spot for datapoints in an RA is about 30.
 
Smiley Face said:
It's only my email. He didn't reply.
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It's none of my business, except that I'll point out that you have always used a handle on this forum, not your real name. People on the internet can get out of hand with abusing the personal info of other posters. I'm not implying anyone in this thread would do that but you never know what lengths some deviant you clash online with 5 years from now is going to go in order to hassle you.
 
Mejappz said:
Lol, nice try. You never sent it. You even complained that I asked you to rate the location. It was clear you were not serious. You were trying to play a game. So be it.
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I see, it must be a conspiracy! :)
 
George Hatch said:
It's none of my business, except that I'll point out that you have always used a handle on this forum, not your real name. People on the internet can get out of hand with abusing the personal info of other posters.
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It is my personal information. I wouldn't put other peoples personal information out.
 
George Hatch said:
I would say that a larger set of less closely qualified data is inferior to a smaller set of more highly qualified data. Apart from that if both datasets were equally well qualified then more just about has to be better than less; to a point, anyway. I've seen commentary that the sweet spot for datapoints in an RA is about 30.
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No way, larger set is never better. Because in order to get the larger set, you are bringing in many more variables that are not considered.
 
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