Crappy Hybrid Inspection

[George Hatch]

number hitting is a prohibited bias, obviously that is all the intended and unintended users abusers care about

Agree completely.

 

[shrubberyvaluation]

For example, our appraisal modernization pilot using hybrid appraisals shows a meaningful reduction in confirmation bias versus traditional appraisals. (Confirmation bias refers to the appraisal confirming the purchase sale price or the refinance value estimate.)

If we are observing and reporting what informed, typically motivated, buyers and sellers are doing, wouldn't most of our appraisals come in at or very near the contract price? If a large % of appraisals came in low/high, then how can you say we are accurately reflecting what's going on in the market? Keep in mind we are coming in after the fact...the buyer/seller have already agreed on a price.

Depends, could not be typically motivated, could have personal property lumped in, some buyers never even see the property and may not understand it based just on the pictures or know the area. Not everyone is as diligent as you and me are.

 

[TerryRohrer]

I was on a webinar featuring Scott Reuter, Cheif Appraiser at Freddie Mac, shortly after their appraisal gap hit piece was released without consideration of most of the facts. He very clearly suggested that the easiest way to avoid an appraisal gap (noticeably only exists when the opinion of value is below the contract price) was to make an upward market conditions adjustments (and that statement was not qualified in any manner). I wonder if he can figure out that might not be a credible approach in most markets right now! But, I think that is exactly the narrative they are creating...that the contract price is actual market value and anything different than that is an error.

 

[djd09]

Agree completely.

the sow lets the fox guard the hen house so the client got exactly what they wanted and still it is not enough or too much depending of the the whim of the most biased wtf

 

[shrubberyvaluation]

I was on a webinar featuring Scott Reuter, Cheif Appraiser at Freddie Mac, shortly after their appraisal gap hit piece was released without consideration of most of the facts. He very clearly suggested that the easiest way to avoid an appraisal gap (noticeably only exists when the opinion of value is below the contract price) was to make an upward market conditions adjustments (and that statement was not qualified in any manner). I wonder if he can figure out that might not be a credible approach in most markets right now! But, I think that is exactly the narrative they are creating...that the contract price is actual market value and anything different than that is an error.

I wonder if he will sign off as co-signer on my appraisals when I do random adjustments up.

 

[George Hatch]

the sow lets the fox guard the hen house so the client got exactly what they wanted and still it is not enough or too much depending of the the whim of the most biased wtf

RTFM

SOWR refers to the extent of appraisal development, not to allowing client advocacy or any other form of bias.

Plenty of appraisers violated the ETHICS RULE prior to the switch from DEPARTURE to SOWR. The changeover didn't alter any of that.

 

[djd09]

RTFM

SOWR refers to the extent of appraisal development, not to allowing client advocacy or any other form of bias.

Plenty of appraisers violated the ETHICS RULE prior to the switch from DEPARTURE to SOWR. The changeover didn't alter any of that.

slowly again when you leave the fox to guard the hen house do not be surprised when only feathers are left public trust and for profit are not interchangeable

 

[djd09]

any so called SOW requirements are just contractual agreements that should be decided in a civil court if an appraiser does not comply see avatar

 

[Carnivore]

The VA Required to Encourage Hybrids – Senate Passes HR 7735 December 21, 2022​

The VA will now be required to encourage hybrid appraisals. If you are a VA Appraiser, here’s a bit of news you need to keep tabs on. Senate Passes VA Appraisal Modernization Measure – theMReport.com The U.S. Senate has announced…​

 

[djd09]

San Francisco & Silicon Valley Housing Markets Puke Huge Price Drops, as Startups, Crypto, Tech, Social Media Make Total Mess​

all this hybrid talk is pretty meaningless...and the best part no appraiser petition for number pressuring