3.6 Crunch Time

[KeyWhiz]

Is it just me or do others also fudge on the ANSI measurements? What's the difference between 20.9 feet and 21 feet? Won't make much of gross area differences. Silly ANSI.

Seems there are always some walls that are a bit shorter and some a bit longer than what the county assessor has and 9 times out of 10 my final measurements are within 10-20 sf of what they have. It's really dumb to be wasting so much time trying to get it down to the inch. I want to appraise. Not spend an hour trying to figure out the exact measurements of a 2nd story turret.

 

[Fernando]

The proper term is "geezer" young whippersnapper. Geezard is a character from a fantasy game. I seem to have no issues with gse guidelines, ANSI or 3.6. Must be a geezer thing

I use Geezard because it sounds like Lizard. More appropriate for us sleezy appraisers.

 

[Sean Wilson]

Is it just me or do others also fudge on the ANSI measurements? What's the difference between 20.9 feet and 21 feet? Won't make much of gross area differences. Silly ANSI.

In my opinion the whole ansi thing is unrealistic. You will never be able to measure a 1.5 or 2 story home to a tenth of an ft. bushes, weird corners, gutters, window trim, protruding brick, corner trim, wavy siding, and no ladder. LOL, its Obsured.

 

[NC Appraising]

And we wonder why we are being replaced with hybrids and perea appraisers who can't measure a home. One of our skill sets were measuring homes accurately. That's why agents called us to measure homes. Now that's taken away from us.

I can see it now...some of the gse reps on this forum....these appraisers cannot even measure a home or are xxxxing about it. Let's just go full waiver or hybrids.

We are our worst enemy. It's not rocket science. If you can't measure a home...this is your job...get the freak out or learn how to.

The purpose of measuring a home is to verify its sqft..GLA, etc. Verify...agents lie and the government is not always 100% correct. Did the government measure the home 30 years ago to ansi? Probably not.

 

[chad hampton]

I believe all aspects of the appraisal Inspection are important. The point of the post above was that no person is capable of precisely measuring to a 10th of a foot on a physical structure. And God knows holding your phone up in the air and spinning around ain’t doing it either.

It has been interesting over the last decade, watching something that was once universally considered a clear example of an appraisal service be degraded into a made up term called data collection

 

[alebrewer]

I've always contended that appraisers are forced to wear too many hats: architect, urban planner, P&Z expert, home inspector, economist, valuator, etc. Some of those roles are (in my opinion) superfluous and are not the appraiser's primary expertise. House measurer is one of those roles. It's awesome that appraisers have traditionally been thought to be good at it (although there are LOTS that aren't), but that's not what sets us apart from the crowd. There's a reason that's usually one of the first areas of training...

 

[Surf Cat]

 

[Vermonter]

Earlier this year I thought we probably had less than 5 years left for GSE work. Now I'm not sure it will last thru 2027.

 

[chad hampton]

You could be right, it may take another crash, unfortunately.

It’s not so much that they don’t want or need appraisals. But when you have 40,000 independent appraisers providing a service, it’s hard to control them. The GSE’s want to deal with 3 to 5 large AMC‘s that have complete control, preferably staff. You see that in every decision they’ve made in the last decade. It’s a perfect textbook example of regulatory capture. And it’s happening in almost every industry. It’s worse than ever The GSE’s would be perfectly fine if they’re friends at class and clear capital were the only two appraisal companies in this country.

And with no regulation or oversight, that’s exactly what they will get. The fox will control the henhouse. Everything some of us were talking about 10 years ago, and predicting, has come true. The chance for regulatory bodies to do their job was a decade ago, I don’t know if they can at this point.

 

[alebrewer]

Earlier this year I thought we probably had less than 5 years left for GSE work. Now I'm not sure it will last thru 2027.

I think we probably have a couple years more than that - pure conjecture of course. I believe the rapid increase in AVM accuracy and exponential increase in availability of property information will be the driver of the demise. And that's not to say that ALL valuation users will turn to AVM's, but certainly the users that digest large numbers of valuations will.

When I was in the whole loan space, we'd typically order batches of 500-1000 valuations (BPO's with back end appraiser reconciliations) at a time. And, based on conversations with folks still in that world - they still do. These valuations would be used for bulk sales/purchases, or for MTM purposes. Imagine the time and money savings if the whole loan/portfolio industry moved to automated valuations?

I mean - think about it for a moment. If we assume that 'traditional' valuations follow a somewhat normal distribution, why would we believe automated valuations wouldn't follow a similar distribution?