Appraisal Institute Controversy Part 2

[Flakey]

If you want to be an appraiser for GSE appraisals - that is low ****. HS degree will work fine, provided you have the credentials and can follow GSE guidelines good enough for the AMCs. It is an average IQ job.

This qualifies you for my distinguished ignore panel.

 

[RCA]

This qualifies you for my distinguished ignore panel.

The same old turkey gobbledygook.

 

[RCA]

If you have gone to Appraiser conferences year after year for 20+ years, to at least get some idea of where the profession stands ....

... and you look back on it ....

... do you ever get the impression ...

... that it is starting to sound like ...

... even mimic ....

... turkey gobbledygoodk ???

 

[Dale Floyd]

Full service appraisal firms, like mine in rural Tennessee, cannot just ignore certain sects of business. But we are not the cheapest date nor do we attempt to undercut everybody in the country with our fees. Competitive for all, yes. We quote every assignment after a little research, unless the juice isn’t worth the squeeze.

It’s humorous, but I’ve received non-solicited advice from many of our peers to refuse assignments for GSEs, AMCs, Divorce proceedings, etc. Not sure how a multi-member professional firm would survive in this state without taking the risks associated with the profession. We are not urban enough to pick and choose I suppose.

 

[Mile High Trout]

Mike Ford, Samuel Miller and Mike Kennedy - these are common names and I don't really know much about these individuals. I would guess they are just running appraisal firms and speakers that appear at conferences.

Jermy Bagott is an MAI and A-GRS with many years of experience.

Cindy Chance does NOT have a track record as an appraiser, nor any Designations or Licenses - from looking at LinkedIn. She did graduate with a BA from Oxford in philosophy and economics - and a Ph.D. from Georgetown in Philosophy. Only if you think Appraisal is all about Ethics - would you give much weight to that. Choosing her as CEO under the assumption that she could delegate all the technical work to people under her is absolutely INSANE. Those ****ers are all incompetent. None of them have what it takes make good decisions and move forward. They should have hired somebody with a Ph.D. in Applied Statistics and Mathematics from a top tier university in the US, - with experience and knowledge of real estate appraisal. But they are so screwed up, the entire profession is so screwed up ---> This would and will never happen any time soon.

In general your comment doesn't make a lot of sense. That's OK, it's kind of standard for most residential appraisers on this forum. There are different levels of appraisers, and most appraisers have IQs in the 95-115 range, - not high at all. The MAI's have IQ's that generally max out around 125+/-, but they do make good use of what smarts they have, for what it is worth. And 80-90% of the time, that is good enough for commercial - as long as you can live with commercial appraisals that are on average 80-85% accurate (per third sources).

If you want an appraiser that you can be sure is accurate in estimating market value for residential real estate in California, like 98+% accurate ---> you will have to search far and wide. That kind of accuracy takes knowledge of advanced math and programming. It is going to be like trying to find a needle in a haystack. Because if you know statistics, data mining, - and can program, you can make 3-4+ times more working somewhere else.

If you want to be an appraiser for GSE appraisals - that is low ****. HS degree will work fine, provided you have the credentials and can follow GSE guidelines good enough for the AMCs. It is an average IQ job.

Wow don't break a leg with that leap of assumption over the damned canyon blindfolded. Thanks for the statistical analysis on my intelligence level. You know, more or less.

When in your first sentence you are not even aware of some of the most influential people of the industry.

You're missing the point, they wanted a pliable person whom they could control in order to continue the back door capitulation to predatory interests, eliminating the appraisal position nearly entirely in the gse realm, and the AMC's whom implement the program.

Damned ethics got in the way again. Who knew a soft spoken high paid lady like that would dare to stand up against them?

You're right about one thing. They are incompetent. As is evident by their capitulation to the AMC industry, among other blatantly obvious examples.

Market value does not need to be some high brow statistically driven science. You can engage that way if you want. However you'd be missing the point of what drives real estate; The people. The market participants. Dare say people whom believe appraisal is a science rather than an engagement which requires the multi faceted approach of understanding, real property, land, human motivation, terms of deals, market conditions, quality of representation, and a broad array of other variable factors, they are missing the point of what valuation service is all about. As most market participants are those lowly average IQ people, it may be a better fit for another average IQ person and not some fancy pants over themselves snooty know it all genius types. However if one is intelligent and capable, a level of humility and understanding that there are real people making real efforts whom at times make real mistakes or struggle to make ethical decisions, that can go a long way towards a more true and realistic understanding, and eventual reporting relay of the valuation questions at hand.

 

[RCA]

Ha!

Most influential?

I have proven beyond a shadow of doubt that every single appraiser in the US, including MAIs, SRAs, FRICS, MRICs, .., BEYOND A SHADOW OF DOUBT - ARE IDIOTS!! (myself not included of course)

— And that includes your most influential idiots. Just read my March 5 paper. ( You will not understand it of course.) Or of course you remember what Charlie Munger said about the pompous appraiser with a string of designations behind his name.

. Much more later.

 

[RCA]

It’s unfortunate, but it’s time to end decades of nonsense!

 

[Red Flint]

It is time to launch the micro waves at the popcorn kernels.

 

[Dublin ohio]

One of the finer examples of intellectual chest thumping I have seen in quite awhile

 

[DWiley]

I have proven beyond a shadow of doubt that every single appraiser in the US, including MAIs, SRAs, FRICS, MRICs, .., BEYOND A SHADOW OF DOUBT - ARE IDIOTS!! (myself not included of course)

Of course. Goes without saying.