UAD 3.6 discussion

[alebrewer]

I’m not saying that’s not part of appraising, but there’s a field portion of appraising and there’s a desk portion of appraising. Both are equally important and part of the profession.

I would disagree that they're equally important, but fully agree that, for 'traditional' assignments, there is an inspection component and an analysis component. For me, the inspection component is part of the 'data gathering' process, and the 'behind the desk' is the analysis part of the process. I get that may not be the case for others, though.

Question: were you around before the crash, and if so, did you do 2055 work?

 

[cashcatz]

Just watched their zoom presentation; seem to have made good progress.

 

[Dale Floyd]

Looks like https://www.aivre.com is the first to get approved, a brand new start up - impressive!

I was just looking them up a moment ago.

The first to get GSE approval, and they're just babies in the industry. Impressive indeed.

 

[cashcatz]

I was just looking them up a moment ago.

The first to get GSE approval, and they're just babies in the industry. Impressive indeed.

Yeah, email them and ask if they are integrated with Appraisal Inbox

 

[shrubberyvaluation]

Technically, no, regression has been around a LONG time - but very few appraisers are capable of performing this without some kind of 'tool' (call it a tool if you don't like the word technology). Hence, if the technology (or tools) are available, and appraisers are still using a cheat sheet instead of actual analysis tools, then no - appraisers still aren't availing themselves of current tools. Of course this is a broad generalization, and probably doesn't apply to a lot of folks on this forum - but I see it every stinking day. Appraisers still using $20/foot for GLA measurements, appraisers still using $20k for a pool adjustment (regardless of price point), appraisers still citing 'stable' markets when every single available data point on line shows declining, etc. We could go on and on.

I'd argue that has nothing to do with technology. It has nothing to do with appraisers not embracing technology. That is pure laziness and/or doing things to tell clients what they want to hear instead of doing their job.

These lazy appraisers can get an adjustment program and just plug in what it says. So it says a pool is worth $12,986, so they plug that in. Doesn't make it better.

 

[alebrewer]

These lazy appraisers can get an adjustment program and just plug in what it says. So it says a pool is worth $12,986, so they plug that in. Doesn't make it better.

And I'd argue that it does make it better. Fully agreed that the appraiser should understand the tool. In the absence of understanding, though, I'd trust a tool more than a human. Both opinions, so it's little more than banter amongst peers at this point.

 

[George Hatch]

It's a conundrum, isn't it? Even though we do supply/demand all the time in our assignments we are struggling with how it works in the business itself.

The appraisers want to sell what they want to sell​

vs​

The clients and users want to buy what they want to buy​

 

[shrubberyvaluation]

And I'd argue that it does make it better. Fully agreed that the appraiser should understand the tool. In the absence of understanding, though, I'd trust a tool more than a human. Both opinions, so it's little more than banter amongst peers at this point.

So if the tool tells them to make a $200,000 time adjustment for a $500,000-$600,000 range house its better if they just do that? No questions asked.

 

[shrubberyvaluation]

And I'd argue that it does make it better. Fully agreed that the appraiser should understand the tool. In the absence of understanding, though, I'd trust a tool more than a human. Both opinions, so it's little more than banter amongst peers at this point.

Thats fine, if zillow shows me nearby similar houses for my subject that sold for $3,000,000 and estimates the value at $500,000 I don't think I'd trust it more than a human. When a program exists that can do a good job, then I will rely on it more.

 

[Zoe]

Some careers, or jobs (churing for an AMC is a job, not a career ) -not all jobs sitting behind a desk are more lucrative, but they are a lot less stressful, and do not require a license and the years to get it and accompanying liability. AND many more deskbound jobs are far more stable - these AMCs lay their staff off when things get slow and appraisals, like all RE is subject to busy and slow cycles.

The same applies for gig work - the insulting idea that wow !! appraisers can do PDR collection! - The idea that "opportunity" makes up for the destruction of a career is ludicrous. While PDR gig work might pay marginally better than DoorDash and such, the pay is not substantially higher, there is no guaranteed volume, and the pressure to deliver on time and scrutiny of the product is immense compared to the more relaxed standards of other gig work..

Most appraisers went into the field for the combination of field work and desk work, but more than that, cutting off an appraiser from the field work and contacts they make out there at the propery giving valuable information makes their analysis far less credible ( and the next gneration of appraisers who rarely get out in the field will be lacking the accumulated experience that is valuabe when it comes to the analysis portion.)

Yes and it makes the appraisal less credible too and especially less credible in a very heterogeneous real estate area (market).

Appraisal Institute could have helped as much as GSE could have helped independent professional appraiser. The problem Appraisal Institute has is some of their members are over appraisal management companies. Appraisal Institute could have tried more but that would be like putting a turd in a punch bowl to some of their members involved in appraisal management companies.