Appraisal Institute's PAREA receives approval from the Appraiser Qualifications Board

[Zoe]

This non-geo competency and waivers will kill GSEs. Mark my word. I know how lenders and appraisal management companies work.

 

[ucbruin]

Wut? What examples?

Post #153....

 

[Zoe]

When first sign of foreclosures start rolling, buy GSE stock.

 

[Zoe]

Provider Expectations​

Swinney says PAREA providers must offer training on all topics, provide participants access to data, research, MLS, environmental information, and must ensure their program is accepted in the state. The PAREA program providers are also responsible for providing an adequate number of mentors. However, there is not a geographical competency requirement within PAREA, so mentors do not need to be licensed in the states where they are mentoring participants.

Participant Expectations​

Participants must complete all qualifying education prior to entering a program, be periodically mentored, produce USPAP-compliant appraisals, complete the PAREA program in its entirety before earning the completion certificate, and still pass the national licensing exam. Participants must complete at least a minimum of three USPAP Compliant Reports, but providers can require more reports. Swinney says there will be many iterations of covering items, like highest and best use, sections on each of the approaches, or sections of the approaches.

3 USPAP Compliant Reports...that's it, yet as a regular trainee you complete way more to reach your hours? I'm not sure how many hundreds of reports I did before I got my license, I just know it was a lot, both residential and commercial, on all types of properties, in all types of scenarios.

Are they going to teach them how to deal with distressed assets? - that was my very first appraisal, a foreclosure. What about a trashed out house that needs to be razed, or complex properties, 2-4 family units? I think they need to make this more well rounded so you are exposed to a lot of different things. I may not have liked dealing with my SA because he didn't really like to teach, but I sure was exposed to a huge variety of properties and scenarios. 3 reports won't allow for that type of exposure.

 

[Zoe]

Post #153....

I follow you. Be careful. LOL

You have a certain charm about you. Very unique. I'll get you on Jesus and Jesus in you eventually.

 

[Zoe]

 

[Zoe]

 

[Red Flint]

The cost of CoStar is exorbitant, which is what's keeping me out of it and I don't really want to work with a commercial shop.

It is possible to work as a commercial appraiser without paying exorbitant CoStar costs.
This can depend on the area.

 

[Zoe]

It is possible to work as a commercial appraiser without paying exorbitant CoStar costs.
This can depend on the area.

Depends on type of property. Have to do the "leg work" as they call it That's fine. Leg work is probably more accurate and dependable.

 

[Tiffany Gibbons]

I trained under a CG and we did some commercial work as well. I liked doing the commercial work, just can't afford to do the commercial work. The cost of CoStar is exorbitant, which is what's keeping me out of it and I don't really want to work with a commercial shop.

Yes, I was in another city then and we had a different commercial sales data source there from appraiser data. I was doing lots of rural work then, oddball stuff that Costar wouldn't touch. I worked for a large family firm and the CG I trained under had been appraising for 45 years, so I had lots of information available in house. When I worked in Assessment, we had Costar for free, it was awesome.