Appraisal Institute Controversy

[Mike Ault]

Yes, it explained the pom poms.

That's not the way I read it…

"Appraisers should not enable their readers to labor under the mistaken assumption that a hybrid assignment, where the appraiser doesn’t consider certain elements, is of the same value as a conventional 1004. In no case should we let go unchallenged the assumption that an 80 percent work product is equal to a 100 percent work product."

 

[George Hatch]

I felt that way then and I feel that way now.

 

[Tiffany Gibbons]

That's not the way I read it…

"Appraisers should not enable their readers to labor under the mistaken assumption that a hybrid assignment, where the appraiser doesn’t consider certain elements, is of the same value as a conventional 1004. In no case should we let go unchallenged the assumption that an 80 percent work product is equal to a 100 percent work product."

Much has transpired since then. I won't be involved with the GSEs anyway.

 

[Tiffany Gibbons]

Did you actually read this article George wrote? Should be obvious precisely who's side he is on…

Comparing Hybrid Appraisals with a 1004 Report

Appraisers should not enable their readers to labor under the mistaken assumption that a hybrid assignment, where the appraiser doesn't consider certain elements, is of the same value as a conventional 1004.

www.workingre.com

Yes, I read it. The conclusion did not mesh with the convoluted narrative above. I was found my thinking was more aligned wIth the comments below (which are more recent) on the article made by others, and thought those appraisers made more sense with their ACTUAL experiences in trying to do that type of assignment. As opposed to someone doesn't use any of the GSE forms anyway, supposedly.

 

[Mike Ault]

Yes, I read it. The conclusion did not mesh with the convoluted narrative above. I was found my thinking was more aligned wIth the comments below (which are more recent) on the article made by others, and thought those appraisers made more sense with their ACTUAL experiences in trying to do that type of assignment. As opposed to someone doesn't use any of the GSE forms anyway, supposedly.

From my perspective, the "hybridization of the appraisal process" is a direct assault upon the appraisal profession, and George left no doubt in my mind on which side of that fence he resides. Then and now.

 

[George Hatch]

In fairness, I was talking about the appraiser's own SOW and what the appraiser is actually doing. The disagreements were about the quality of the data collectors which I wasn't really commenting on except to say that they're not doing as much as would an appraiser who is multi-tasking in their field work and is not limited to just looking at certain aspects of the site+improvements.

My point was that more assumptions means more limitations. And warrants more disclosures.

 

[Mike Ault]

In fairness, I was talking about the appraiser's own SOW and what the appraiser is actually doing. The disagreements were about the quality of the data collectors which I wasn't really commenting on except to say that they're not doing as much as would an appraiser who is multi-tasking in their field work and is not limited to just looking at certain aspects of the site+improvements.

But you summed it up nicely. An appraiser's value opinion supported by a PDR is not equivalent to an appraiser's value opinion supported by their own observations. And nobody should get away with pretending that it is. Maybe 80% as good, maybe not.

 

[RCA]

The original AMCs started out as fee shops, later joined by bank appraisal depts that had been spun off by their holding companies so that they COULD legally turn a profit.

We are of course not talking pre-2008. That is BS on your part, more obfuscation. Your are indeed a die-hard apologist for the current state of things, with only a few exceptions.

Although one can always argue that dissent is good. But intelligent dissent would be preferred.

https://appraisersblogs.com/exposin...es-corrosive-influence-on-the-housing-market/

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[RCA]

I'll take that as a No. Thanks. I went to a state university, not "Sarah Lawrence". But that must be why you don't care if the AQB dumbs our profession down. That has nothing to do with feminism. ALL working appraisers are against the moves being made by the elitist leaders. I just read one of your Working RE articles from 2019 about Desktops, Property Data Collection, etc. It's obvious you don't like Baggot or his excellent books and its obvious why. I just thought maybe you were a failed journalism major or something.

Jeremy Bagott's approach is different. He has cut a niche out for himself. It is a legitimate approach that digs down into the mechanics of these kinds of government operations (e.g. TAF). I am more interested in the technical and workflow/protocol side of appraisal.

As far as the Philosopy, English, Government Admin majors and the like coming into the profession goes, I am not savvy to that practice. One can argue that because the damned appraisal system is so messed up, we need some preachers in leadership. BUT, if we had competent technical people in appraisal leadership positions, we wouldn't need the preachers - who really don't know what they are talking about.

The path to Hell is paved with good intentions. You need to watch out for charlatans and false prophets, Satan as the "Angel of Light" : "And no wonder, for Satan himself masquerades as an angel of light." (2 Corinthians 11:14 ) - This highlights Satan's ability to deceive by appearing virtuous or good.

Valuation is more important, in general, than most appraisers realize. It has generalizable components that can be extended far beyond Real Estate. The Satan's of the world are attracted to it like fireflies to light.

Watch out what you wish for, avoid the false prophets, the charlatans and the idiots. Although you might not have much left.

 

[chad hampton]

Baggot is shedding some light on institutions that some here feel are honorable and ethical. So it’s difficult when people that have spent 30+ years thinking that start to realize they have been lied to. I understand the dilemma that some here have with having their feelings hurt over these organizations being exposed as being corrupt.

It’s a tough pill to swallow. I get it.