Appraisal Institute suspended from The Appraisal Foundation

[Couch Potato]

One won't have an easy time on this forum arguing for lower standards.

We don't have to worry about doubling the standards. Nobody in their right mind would enter the residential side of this business now or in the foreseeable future.

Anyone attempting to become a residential appraiser right now is obviously not qualified to be an appraiser. :new_all_coholic:

 

[Bob Ipock]

Anyone attempting to become a residential appraiser right now is obviously not qualified to be an appraiser. :new_all_coholic:

and yet.........there are still plenty of schools willing to part a fool from his money. The AI will be glad to offer up the classes and then allow you to be an associate member. With McKissock....all you get are the classes and a lifetime of emails. In NC you can still take the classes from the fat man, the bald man or a greedy man.


The ASC count was 114,144 on 07/07/2010. The renewals most not be doing quite so well.


Today....the count is 113,686. It will be a few more weeks until all the 06/30/2010 renewal figures get reported. Some have been already.

 

[route1pj]

Wrong, wrong, not allowed under USPAP, violation of certification. Your Fannie Mae reports are not for "fair market value"...it is simply MARKET value. Do you ever appraise for UNfair market value?


Did you know there is a free spell checker availablle?

My favorite quote--Bad spellers untie!

 

[route1pj]

http://www.orea.ca.gov/pdf/2010AMCRegs.pdf

Read that thread in regard to number of appraisers for an approved AMC.

I read the federal thread and it stated 15 within a state or 25 nationally.

Who is minding the store?

 

[Bob Ipock]

I am a horrible speller........thank you Lord for a great free spell checker.


http://www.iespell.com/

 

[Bearslide]

I am a horrible speller........thank you Lord for a great free spell checker.


http://www.iespell.com/

And thank you for sharing it!

 

[route1pj]

Appraising is not rocket science and we are not physicists

Wrong, wrong, not allowed under USPAP, violation of certification. Your Fannie Mae reports are not for "fair market value"...it is simply MARKET value. Do you ever appraise for UNfair market value?


Did you know there is a free spell checker availablle?

If memory serves me, there was a monetary crash that closed most of the S&L's in or around 1984. Part of the spin-off was to punish the appraisers by making them all go buy a license to appraise and enroll and pass various appraisal courses. It took generally 5 years for that punishment to take effect and be implemented by the states.

All this attention to detail might make one think that maybe he has seen the light or is somehow now better educated and better able to perform a competent appraisal.

USPAP was someone's attempt to make sure that appraisers perform their work without conflict of interest, unscrupulous methods, etc.

You cannot teach honesty, integrety, and competency. You need to bring those qualities to the table when you sign on.

With all these instructive educational classes under our belts, we appraisers should now be able to perform a near perfect report that would withstand scrutiny by any competent review appraiser or loan underwriter. Even the calculations spit out by that handy dandy HP 12C realtor's calculator look believable. Net result: No more problems with misleading, shallow or weak appraisals.

All the oversight over the real estate industry by our government and their agencies, including AF and AI, could not and did not prevent the greatest monetary disaster known in the history of mankind.

 

[Calvin the Airedale]

All the oversight over the real estate industry by our government and their agencies, including AF and AI, could not and did not prevent the greatest monetary disaster known in the history of mankind.

It only seems the worst because you're living through it. But believe me, worse calamities have taken place. In the first half of the 1980s, a third of all appraisers were forced out of the business by high interest rates.

In the mid 1930s, unemployment was 20+-%. In greater Cleveland, you can track the worst of the depression from the void left by new construction. With little exception, no homes were built from 1932 to 1941 (and only then were some built to provide proximate housing to defense plants.) Up to 1930, Cleveland was one of the fast growing cities in the country!

Aside from the lack of construction, no one was buying houses either. Even though the appraisal profession was fledgling at the time, how many appraisers were forced into selling apples at the street corner?

USPAP was a necessary standard because the majority of appraisers do not belong to a professional society. If they did, TAF might never have come into existence.

 

[Calvin the Airedale]

I am a horrible speller........thank you Lord for a great free spell checker.


http://www.iespell.com/

Thank you, thank you, thank you!

 

[Terrel L. Shields]

One won't have an easy time on this forum arguing for lower standards.

I've never had a hard time arguing that the current standards are so inscrutible that they are the lowest of low standards because they are unwieldy and obtuse. A simple plain 4 page ethics document would improve the enforcability of the document. Being "opaque and unmanageable" does not constitute sound ethic.

majority of appraisers do not belong to a professional society. If they did, TAF might never have come into existence.

actually virtually all appraisers prior to 1991 were members of some professional society, NAMA, NAREA, AIREA, ASFMRA.... "Certification" was society driven and some states required they also have a brokers' license. I believe California was the sole state requiring a license to appraise.

You cannot teach honesty, integrety, and competency

therein lies the rub. Actually competency is the sum of one's experience and education done with integrity..which implies honesty. USPAP can be 20,000 pages long. We can require a doctorate and 40 years experience before you sign, but the bottom line is the appraiser has to know and abide by the limits of their skills and have the judgment skills to make a reasoned and defensible value estimate. With that element the rest is meaningless.