Technology in appraisals AO 41

[NC Appraising]

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appraisalfoundation.sharefile.com

Here are two examples:

1. Zoning. I would estimate 40% of the appraisers in my market use realist. Which, depending on the municipality and the county is wrong 50% of the time.

2. Flood maps. We all know this issue. The flood maps in our software and the lender ordered third party flood certs can be wrong. The form asks if the site is in the flood zone, not the dwelling. The FEMA flood maps says the site is in
...your appraisal software says it is out (unless you move that red circle from the dwelling....lol) the flood cert says it is out.

So......how do we handle these?

1. Hey, I relied on third party data. I live outside the state and appraise in multiple states. I don't have the time to keep up with every municipality or county. I use AI and third party data that instantly fills out my uad 3.6 form. My hands are washed. The form protects me if I relied on third party data.

2. Just use the data source directly from the source. County or municipality for zoning. FEMA for flood data.

3. Know your market. Double check your sources and keep track of which ones are reliable.

Go and comment on AO 41.

 

[Fernando]

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appraisalfoundation.sharefile.com

Here are two examples:

1. Zoning. I would estimate 40% of the appraisers in my market use realist. Which, depending on the municipality and the county is wrong 50% of the time.

I would say 99% of the time here, zoning hasn't been updated in Realist. But since most of my peers use realist, I can use what's in realist and reviewers don't care.

2. Flood maps. We all know this issue. The flood maps in our software and the lender ordered third party flood certs can be wrong. The form asks if the site is in the flood zone, not the dwelling. The FEMA flood maps says the site is in
...your appraisal software says it is out (unless you move that red circle from the dwelling....lol) the flood cert says it is out.

When reviewer calls me out on flood maps, they send me their 3rd party source and I use that. It's above my pay grade.

So......how do we handle these?

1. Hey, I relied on third party data. I live outside the state and appraise in multiple states. I don't have the time to keep up with every municipality or county. I use AI and third party data that instantly fills out my uad 3.6 form. My hands are washed. The form protects me if I relied on third party data.

2. Just use the data source directly from the source. County or municipality for zoning. FEMA for flood data.

3. Know your market. Double check your sources and keep track of which ones are reliable.

Go and comment on AO 41.

Don't think too hard. Do Fernando way. See what your peers do.

 

[Vermonter]

I would say 99% of the time here, zoning hasn't been updated in Realist. But since most of my peers use realist, I can use what's in realist and reviewers don't care.

When reviewer calls me out on flood maps, they send me their 3rd party source and I use that. It's above my pay grade.

Don't think too hard. Do Fernando way.

And this is why DEI is detrimental to the profession

 

[Fernando]

And this is why DEI is detrimental to the profession

DEI is responsible for my peers?

 

[Fernando]

Just to be clear, Nando always verifies zoning for subject. Realist is not accurate here which is out dated from assessors records.
When OP mentioned Realist, do my peers actually get their zoning info from Realist?

 

[Vermonter]

DEI is responsible for my peers?

If they're as retarded as you, YES

 

[Fernando]

If they're as retarded as you, YES

Typical Magatard, making a thread political.

 

[Vermonter]

Typical Magatard, making a thread political.

Nothing political until your use of magatard

 

[Fernando]

Nothing political until your use of magatard

You started with DEI.

 

[Mike Ault]

You started with DEI.

You started when you posted your slovenly ways.