ASB developing standardized methods/definitions book

[Matt Barr]

Some news from the NAR Appraisal Section networking session in D.C. yesterday.

Frank Gregoire and his group did a great job putting the panel and event together.

http://www.appraisalintelligence.com/news/...ines/171-1.html

 

[Austin]

If there is no "body of appraisal knowledge" then on what basis can state boards bring charges against an appraiser? The AI, the most recognized authority, says that the sequence of adjustsments is market derived but they have no procedure to extract the sequence from the market. The present method of doing a market grid is clearly flawed, so where does USPAP get off requiring recognized appraisal methods. Recognized by whom?

 

[Farm Gal]

The AI, the most recognized authority, says that the sequence of adjustments is market derived but they have no procedure to extract the sequence from the market. The present method of doing a market grid is clearly flawed, so where does USPAP get off requiring recognized appraisal methods. Recognized by whom?

HEAR HEAR!!! Listen to the MAN!

Austin having sat through two AI sponsored appraisal classes with in the last 30 days, EACH OF WHICH indicated in the teaser brochure that they would provide the student with practical methods by which to support market adjustments... and then did not in any way shape or form do anything the like, I am disgusted... The calsses provided updates of other useful information, and were quite professional in presentation but the primary thing I showed up for...wasn't there :x

I am going to give the Institute one more shot at the summer conference, and then continue my current method of developing individual problem extraction/analysis methodology that I think is statisticcally supportable. I just hate having to continually reinvent the wheel and having low confidence results.... and I am not just talking about hte statistical confidence level. :roll:

Frankly until someone SHOWS me that it can be done in my market I am not sure that anything but 'appraiser experience' ISN'T smoke an mirrors. :evil:

 

[cgjerdetu]

Hey Lee Ann

I'm going to AI's summer conference as well. I'm very interested in regression/statistical analysis and GIS use in residential appraisals. The conference looks to be one of the only places to offer this kind of education geared towards appraisers. I am hopeful that this will be useable information. The only non statistics/GIS seminar I'm taking is on Appraisal Consulting.

Carolyn

 

[Mark Ziegler]

Carolyn,

You may want to check out URISA (Urban and Regional Information Systems Association) and/or IAAO (International Association of Assessing Officers) websites. While most of their GIS integration deals with CAMA (Computer Assisted Mass Appraisal) programs, the theory is thoroughly (and literally) applicable to residential valuation. IAAO has a number of courses in statistical modeling, and Thimgan & Assoc. (Denver) has annual "hands-on" modeling classes for both beginners and novices.

The application problem, in as far as "fee" work is concerned, is obtaining a sufficient universe of properties with accurate data. Without sufficient properties and substantiated data, the confidence levels are reduced and intervals expanded, leading to an unjustifiable model. I believe they call these "AVM's".

Enjoy the conference and bring your wallet. While the hardware and software related costs have come down significantly as of late, it's still not for the faint of heart.