Appraisal With No Inspection By Appraiser?

[J Grant]

So, if you were doing a 2055 today, it would not be helpful to have recent photos of the interior to augment what you already have?

Of course it would be helpful, but again, a 2055 is still an exterior based appraisal, with any photos or MLS recent notes not a substitution for an interior inspection.

I am not saying it is impossible to do a good appraisal with another party inspecting. But there are problems with it as noted...however well trained the inspector is, their impressions or notes about a property may be different than the appraiser's. In some situations that will not matter, in others it will matter. But who can tell when it matters since appraiser will not be going to the property to check for themselves.

There is also potential for abuse with desk appraisers doing work out of a geo area they are familiar with and low paid, volume driven inspectors racing from one property to the next. Even for a well trained diligent inspector, they have nothing invested in anyone inspection, whereas an appraiser does. .

 

[Joe Flacco]

lol none of you guys do any work. You guys are on here posting all day.

 

[gregb]

PR is a full-time job for some.

Introducing REVAA
The Real Estate Valuation Advocacy Association (REVAA) is a national 501(c)(6) nonprofit serving as the leading advocate for the residential real estate valuation industry. REVAA members are parties in the procurement and implementation of residential real estate valuation services.

We are actively engaged in the issues most important to the future viability of the industry, including ensuring reasonable and responsible public policy that ensure availability, efficiency and reliability of real estate valuation products and services.

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• Support appraiser recruitment, training and continuing educational opportunities.

 

[DWiley]

I'm semi-retired, most of my work occurs in the evening. I am not working on salary for someone else. What is your excuse?

Excuse? Monitoring the general appraiser community and knowing their concerns, questions and "hot buttons" is actually part of my official job description, if you must know

As a general observation, not aimed at any particular post or participant, when people start throwing our personal jabs and bringing up compensation, it is generally an indication of weakness in their fundamental position. Otherwise, they would discuss/debate facts and data, and not resort to ad hominem. I learned that in my logic class in college as we were studying logical argument versus specious argument.

 

[Terrel L. Shields]

But there are problems with it as noted...however well trained the inspector is, their impressions or notes about a property may be different than the appraiser's.

???You complain about Phil Crawford saying basically the same thing???

bringing up compensation

You would love for us to not bring up "compensation" since appraisers are the only ones who will get a "haircut" with hybrids. Does your salary drop in managing them?

 

[Joe Flacco]

Excuse? Monitoring the general appraiser community and knowing their concerns, questions and "hot buttons" is actually part of my official job description, if you must know

As a general observation, not aimed at any particular post or participant, when people start throwing our personal jabs and bringing up compensation, it is generally an indication of weakness in their fundamental position. Otherwise, they would discuss/debate facts and data, and not resort to ad hominem. I learned that in my logic class in college as we were studying logical argument versus specious argument.

That's just the spin you put on it. Most people see it as you knowing the appraisers concerns and hot buttons and then defending your company interests on the topics.

 

[timd354]

lol none of you guys do any work. You guys are on here posting all day.

I have three computer screens on my desktop and work all day long for an average of 10-12 hours per day...it does not take more than a very minimal effort to respond to the nonsense here on the AF

 

[Joe Flacco]

I have three computer screens on my desktop and work all day long for an average of 10-12 hours per day...it does not take more than a very minimal effort to respond to the nonsense here on the AF

I'm just messing with you guys. Now get back to work.

 

[J Grant]

Just remember Danny, anything that results in less work or income for appraisers is automatically going to be dismissed by some as a USPAP violation or "too risky".

What is some of it is more risky, or has potential USPAP issues ? An appraiser can be concerned about two things simultaneously.

...

You accuse appraisers of false concern when a pending change might mean less $ income for them, yet you do not apply that to third parties/companies pushing for change because it increases their $ income. The AMC involvement which led to paying appraisers less did not result in savings to borrower on appraisal fees ( increased it in some cases )

The track record of banks and Fannie history of staggering losses, bailouts and fraud/risky lending practices is far worse than that of appraises, even if a smaller segment of appraisers did lousy work.. If clients continue to use lousy appraisers, the clients share some of that blame.

Fannie using their own pilot test results... any bias on their end to say results are fine ? Are pilot hybrids working conditions similar to the way real world condition hybrids will evolve-tight turn times and low payment to and inspectors (and/or appraisers ) with large volume output and some appraisers doing desk work in far off geo areas they are unfamiliar with?

If hybrids replacing traditional appraisals works out, fine, I've survived many changes in the appraisal business.

If replacing a number of traditional appraisals with hybrids leads to problems later, the warning flag was raised by appraisers. We tried to warn pre boom and crash and were treated dismissively then as we are now.

Appraiser profit motive/self interest had nothing to do with appraisers trying to warn back then since we were making good fees. and fees had nothing to do with the message.

 

[Joe Flacco]

Now that I have two kids at home I kind of envy you guys with desk jobs. I need to get a office.