Aloft Appraiser Toolkit

[NJ Valuator]

Does anyone use this service? No one answers the phones there?

 

[Surf Cat]

Toolkit is a robust analytics platform for real estate appraisers. It enables highly defensible and data-backed analysis and introduces a new adjustments methodology - the Paired Cost method. Toolkit empowers appraisers to be able to do the math faster, arrive at the right answer, back up their answers with objective data, and show their work.

What's the paired cost method?

 

[TerryRohrer]

Toolkit is a robust analytics platform for real estate appraisers. It enables highly defensible and data-backed analysis and introduces a new adjustments methodology - the Paired Cost method. Toolkit empowers appraisers to be able to do the math faster, arrive at the right answer, back up their answers with objective data, and show their work.

What's the paired cost method?

Garbage. A quick review of their process seems to propose:
Estimate site value by subtracting the depreciated cost of improvements from the sale price. Because Craftsman Cost data has different definitions than the GSEs for quality, depreciation is based on the age-life method (explain the logic there!). Site value adjustments are the difference between site values estimated in that manner. Then, adjustments for individual physical differences in improvements are based on the difference in their depreciated costs. As big and smelly a pile of BS as I have seen over the past 40 years, but they appear to be getting sign off from the GSEs, so, garbage from start to finish. But easy to formulize so no thought nor experience need be applied. I guess that is why all education and experience requirements for certification are being removed.

 

[Mejappz]

As big and smelly a pile of BS as I have seen over the past 40 years, but they appear to be getting sign off from the GSEs, so, garbage from start to finish.

Right, it's pure garbage, and that's why the GSEs have given it the go-ahead. I believe the GSEs and Aloft have partnered to offer a new"educational " course.

 

[Non Sequitur]

Does anyone use this service? No one answers the phones there?

Aloft went bust. They were absorbed by Inspectify. Heather is with Fannie now and Hansel stayed on with Inspectify.

Inspectify Welcomes Aloft

Uniting to Build a Market Leader in Property Inspections and Valuations

www.inspectify.com

 

[DWiley]

Right, it's pure garbage, and that's why the GSEs have given it the go-ahead.

Please cite support for the claim/assertion that, "the GSEs have given it the go-ahead."

 

[Mejappz]

Please cite support for the claim/assertion that, "the GSEs have given it the go-ahead.

Glad to.

Aloft has been selected to develop educational courses for Fannie Mae and Freddie Mac in anticipation of the upcoming changes to the Uniform Residential Appraisal Report (URAR) and the Uniform Appraisal Dataset (UAD). This industry-wide training initiative aims to prepare both appraisers and industry professionals for the significant transformations in appraisal standards. The training is expected to be delivered through AloftU, Aloft's educational platform, in the winter of 2024–2025 .aloftappraisal.com+1aloftappraisal.com+1

Additionally, Aloft is a sponsor of the Appraiser Diversity Initiative (ADI), a nationwide program led by the Appraisal Institute, Fannie Mae, Freddie Mac, and the National Urban League. The ADI is designed to increase diverse entrants into the real estate appraisal field and provide resources to help them succeed within the profession .aloftappraisal.com+1aloftappraisal.com+1

 

[TerryRohrer]

A built-in dial to back in to adjustments on the fly.

"
Real-Time Depreciated Cost Calculations:
• Increase the quality rating for an improvement and watch the cost of that improvement go up while the extracted site value decreases, right before your eyes.
• Decrease the quality rating and see the cost drop and the site value rise, instantly."

https://www.linkedin.com/posts/aloftappraisal_big-news-for-appraiser-toolkit-weve-made-activity-7213592637910437890-1He-/

 

[Surf Cat]

Aloft went bust. They were absorbed by Inspectify. Heather is with Fannie now and Hansel stayed on with Inspectify.

Inspectify Welcomes Aloft

Uniting to Build a Market Leader in Property Inspections and Valuations

www.inspectify.com

Hey NJ Valuator, find a better program! Lol

 

[NC Appraising]

Its ok.

I got it for market condition adjustments...it's 50/50. If your someone that wants a software program to feed you data to meet GSEs requirements then go for it. It's better than doing nothing like some appraisers.

My issue was the land values and not being able to correct the other fields. Some parts are take it or leave it. For some properties in would have to jack up the quality ratings on a q4 home to q2 to make the numbers make some sort of sense.

Now, for quality condition or location adjustments, it helps to support...you just have to know how to tweak it to get meaningful results

That being said, I'm not sold on cost depreciation...the market is not perfect and sometimes doesn't make sense. Cost depreciation results will make your head spin.....