Hybrid Appraisals

[Justinjla]

That's mostly true except that we add a qualifier to that "knowledge". And that qualifier is both necessary for what we do and it detracts from the idea that we're responsible for the errors other people make. We do not assert an unqualified knowledge about the accuracy of the data. Lucky for us, too; because we run into inaccurate data about the subject and comps on a regular basis. I run into it on a weekly basis as I'm sure is the case with most appraisers.


That's one reason the GSE example looks like this

View attachment 102454


Which once again circles back to the question of what the appraiser actually did in their assignment (I believed the info was correct so I used it in my analysis).

Additionally in the hybrid appraisal…

3. The appraiser has relied on data provided by third-parties in this appraisal report. Such data may include, but is not limited to, flood maps, multiple listing real estate services, tax assessment records, public land records, satellite imagery, virtual street views, property data services, surveys, engineering reports, and property data aggregations. After examination of the data and data sources, the appraiser has used only the data he or she considers reliable. The appraiser makes no guarantees, express or implied, regarding the accuracy of this data.

 

[George Hatch]

I don't think we would see John the Can Collectors work enough to know their reputation. The reason not to trust wouldn't be based on who the inspector is. It would be based on the reputation of the inspection report in general.

If Chad believes the Can Collectors are too unreliable to trust then he *shouldn't* trust them without checking up on them or otherwise verifying on his own. No different than how he would handle any other data source he distrusts.

Broker tells us of a sale that didn't otherwise pop up during our research. We're not just going to blindly trust that info because we've been burned before. We're going to dig deeper into it to verify it enough to use it. It'll usually pan out just fine but there might be an exception to that trend.

 

[djd09]

Additionally in the hybrid appraisal…

3. The appraiser has relied on data provided by third-parties in this appraisal report. Such data may include, but is not limited to, flood maps, multiple listing real estate services, tax assessment records, public land records, satellite imagery, virtual street views, property data services, surveys, engineering reports, and property data aggregations. After examination of the data and data sources, the appraiser has used only the data he or she considers reliable. The appraiser makes no guarantees, express or implied, regarding the accuracy of this data.

you should try reading USPAP...the SOW cannot be so limited to not produce credible results...so there is no scoping away misleading

 

[Joe Flacco]

If Chad believes the Can Collectors are too unreliable to trust then he *shouldn't* trust them without checking up on them or otherwise verifying on his own. No different than how he would handle any other data source he distrusts.

Broker tells us of a sale that didn't otherwise pop up during our research. We're not just going to blindly trust that info because we've been burned before. We're going to dig deeper into it to verify it enough to use it. It'll usually pan out just fine but there might be an exception to that trend.

That's what I'm saying. It's just extra information the appraiser uses to form opinions about the subject property. Better than desktop without recent subject listing and inferior to appraiser inspecting.

 

[George Hatch]

you should try reading USPAP...the SOW cannot be so limited to not produce credible results...so there is no scoping away misleading

It's apparent that these users think the desktop SOW is sufficient for their use, the additional assumptions and limitations notwithstanding. And the appraisers performing these desktops also think it's a valid assignment type.

Also apparent that they don't care that you disagree with them.

 

[djd09]

dont drink the kool aid...wire fraud is a serious offense...jail time

 

[chad hampton]

I'd like to see some evidence of Uber drivers performing interior inspections.

I certainly don’t know. I do know a few AMCs advertised for them on Craigslist. I think we all saw those ads posted here and on Fb before.

Craigslist, 1 stop shopping for your hookers and fake appraisal inspectors.

 

[chad hampton]

The users would be happy with a value on a napkin. It’s the regulators that don’t, or shouldn’t, allow it.

 

[Bobby Bucks]

I continue to be amused by the weekly email solicitations with the same old message, "Most professional appraisers are doing them and they're very profitable which why we're once again BEGGING you to sign up for this unique opportunity." Carnival barker hucksterism at its finest. I may have to relaunch some classic Mr. Haney/Green Acres videos from the Zaio days.

 

[George Hatch]

I strongly doubt in the existence of "valued partner". Leastwise, not in this business.