Analysis Of Prior Sales: A Hidden Retrospective Appraisal?

[DWiley]

No. STD 3 applies to assignments, but SD 1 and STD 2 are structured differently. Just read that actual Standards (not the Standards Rules) and you will see the difference.

Again, you are free to try to convince your Tate board of anything that you wish.

 

[residentialguy]

No. STD 3 applies to assignments, but SD 1 and STD 2 are structured differently. Just read that actual Standards (not the Standards Rules) and you will see the difference.

Std 3 applies to review assignments. Stand 1 & 2 applies to appraisal assignments. SOW deals with an assignment. Are you disagreeing with this?

 

[residentialguy]

Lets look at the Ethics rules
CONDUCT
Appraiser must perform Assignments with impartiality.....
MANAGEMENT
Appraiser must....procurement on an assignment. Must not accept an assignment....
RECORD KEEPING
Appraiser must prepare a workfile for each appraisal assignment
COMPETENCY
The appraiser must be competent to perform the assignment

SCOPE OF WORK RULE.
For each appraisal assignment, the appraiser must:

 

[residentialguy]

No assignment, no problem

 

[CANative]

Danny... what about something like this?

Subject: Last market sale closed 10/2015 at $302,500. This was marketed as a short sale. 225 days on market. MLS did not provide any detailed description of improvements and there were no photos other than the front of the residence. MLS#LC90402 lists the subject as a closed sale on 04/01/2005 at $596,000 with 70 days on market. Photos of exterior and interior show property condition superior at the time. MLS#LC83274 lists the subject as a closed sale as of 07/02/2003 at $450,000 with 28 days on market. Agent comments state "completely remodeled." The 2003 and 2005 sale prices seem reasonable given good condition and market conditions during those years in Lake County.

 

[DWiley]

Lets look at the Ethics rules
CONDUCT
Appraiser must perform Assignments with impartiality.....
MANAGEMENT
Appraiser must....procurement on an assignment. Must not accept an assignment....
RECORD KEEPING
Appraiser must prepare a workfile for each appraisal assignment
COMPETENCY
The appraiser must be competent to perform the assignment

SCOPE OF WORK RULE.
For each appraisal assignment, the appraiser must:

I specifically referred to STD 1 and STD 2, and you have apparently specifically avoiding looking at those.

 

[residentialguy]

I specifically referred to STD 1 and STD 2, and you have apparently specifically avoiding looking at those.

Danny, I did. I've referenced some of it. Stand 1 & 2 are for appraisal assignments that you do for clients.

Stand 1: In the first sentence you have to do what? Identify the problem! If you don't have a client asking for your opinion of value on that property, there is no problem to identify.
What's the next sentence? Determine the SOW
What is the definition of SOW? It's about an assignment!

 

[residentialguy]

 

[DWiley]

You a re still missing the point. Look at the STANDARD, not the Standards Rules.

If you did not identify the client, well that just means that you did an appraisal incorrectly. It does not mean that you did not do an appraisal. If what you are arguing was correct, then one could never violate the Standards Rules.

 

[residentialguy]

You a re still missing the point. Look at the STANDARD, not the Standards Rules.

If you did not identify the client, well that just means that you did an appraisal incorrectly. It does not mean that you did not do an appraisal. If what you are arguing was correct, then one could never violate the Standards Rules.

Why do you say one could never violate the Standards Rules? Of course you can, when you have an appraisal assignment. If you don't have an appraisal assignment to break, then no, rules don't apply. Rules are applied to appraisal assignments in 1 & 2. I highlighted in yellow just some of the example. They are not applied to an appraiser saying that some house is a REO and appeared to have sold below market value; no one ordered it, there is no client and no intended user relying on it. Sorry, but me saying that REOs typically sell below market value is not a mass appraisal. And to suggest as such, is a massive, non-supported error on your part.