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Don't try this at home

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Blue1

Thread Starter
Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
To all Realtors, Lenders. Underwriters, Homeowners and anyone else that thinks they can value Real Property.......listen to your appraiser and "don't try this at home" (so to speak). Your appraiser has gone through rigorous education, on-the-job training and is a graduate of the "college of hard knocks" in the Real Estate market. Your appraiser has to PAY for data services, (You are probably not privy to) your appraiser has to KNOW their market. Your appraiser has spent time researching his/her market and has historical information as well as current market information. Your appraiser is not concerned that the borrower has bad credit, has bills to pay, "needs" a certain property value in order to "do their loan" etc. Your appraiser must render a PROFESSIONAL service. Your appraiser's livelihood depends on rendering an OBJECTIVE opinion of value.

Mr. Realtor.......Please FAX not only your "better comps" but a copy of our appraiser license. Ms. Underwriter.......Please FAX a copy of your appraser license along with your request for "one more comp" that way, the PROFESSIONAL Appraiser will know that they are receiving information from another PROFESSIONAL Appraiser and not from someone trying to "do it at home." (so to speak)
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Somebody is overdue for a vacation. The trouble is not with the underwriters, Realtors, loan officers. It is with our own peers. All of the above complaintants would have no questions if our own kind did not sell us down the river. If we come in to low, they will find an appraiser who will hit the number for them. Their license works as good as ours. Is this your fault or my fault? NO!!! It is the appraiser down the street who would sell his soul for $300-350. It is common knowledge that when any appraiser who does not hit the sales price, then they are too conservative and are not qualified enough for that assignment. Factual data has nothing to to do with it. Sure, your report has the most recent, most similar sales, but that other appraiser knows how to work the system and get those values up there. The loan companies don't care, they just sell the loans off.

Seriously, Blue, do you really think we would be questioned so much if we weren't manipulated so much. Take a deep breath, stand up the the underwriters and let them hate you or respect you. The crazy underwriter questions are coming from all the bad publicity generated from our "appraiser friends" down the street. Now, we suffer for the very transgressions that cost us work. The underwriters are incapable of seeing that we are the "good guys" because now we are all "bad guys" in their eyes. Remember, the only ones who care about the rules are the ones who follow them. Therefore, we have to suffer through the "black hole" that our profession has become. Hopefully, when we swim our way out of this swill, some of our worst cohorts will be gone on to their next endeavor in lying, cheating and stealing. Boy, I can dream can't I? I haven't seen any of them go away in 12 years. I have sure seen them flourish, though.

Once again, seriously, the problem lies in our own backyard.
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
Gentlemen --

Every profession has the same "black holes." Lawyers who cheat their clients, priests who prey on little boys, teachers who fall in love with their students, judges who steal money, city council members who accept bribes and extort, and go to prison.

I just recited the past year history of metro Minneapolis-St. Paul, MN. A region noted for its good government!

Right now, the highest profile case in the nation is the premier abbey of St. John's Abbey of Collegeville, MN. The monkery has been awash with sexual activity over the years. Hey, that's news?!

As I get older, I realize that ethics is different than religion.
 

Alan Simmons

Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Blue1

The number that partakes in holistic appraising seems to grow every day.
 

Blue1

Thread Starter
Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Tim,

I have found that the "other" Appraiser is mostly a figment of the Realtors's or Broker's imagination. It's all part of the on-going coersion and incredible pressure being brought to bear on our profession on a daily basis. I have found that there are only a few "bad apples" in my area and am actively doing something about it. I find most of my collegues to be ethical folks and the criticizim leveled against our profession to be unfair.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
The problem is the Appraiser due to the way the process is set up. OUR problem is we DO NOT seem to REALLY want to fix it. & I don't think it can be fixed cause there is a 1% element in every walk of life.
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
The problem is exacerbated by the fact that there are too many appraisers.

Lenders have their own interests. If it's different than their customers' and they don't get punished for pursuing it, they go with it.

Most lenders know who the good appraisers are! Guess who's doing their portfolio stuff? One guess: It ain't ***** #5 on their roster !!
 

Blue1

Thread Starter
Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Karl,

I mostly agree with you however, I don't know how a 1% bad element (in our profession) translates to 100% coersion being brought to bear on us by Brokers, UW's, Realtors and any one else that disagrees with our value.
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Blue,
ok, your getting into this a little to much; here's the deal - you may provide the best comparables and still receive questions for additional input. This is a practice I have found to be true throught the country. Why they do it, for several reasons, and you cannot answer them; it depends on what side of the bed they get up on; it depends if they stub their toe in the morning; the investor their dealing with requires a specific parameter; the new UW they just hired is working off old rules from his/her past employer; the UW is just 19 and someone told her to do it that way; the boss over & above the in charge person for that UW just lost a three mil. deal to someone else and blew is overage out the water; fig newton slipped on a banna peal smaked his head and your appraisal came across his/her desk at just the wrong time. 8O

DOn't waste your time wondering why :?: what is needed here is a lengthy rebuttle, that will not only make them stammer, but feel the urge to never request that additional information again from you. You have it in you, it's wether you feel the time is necessary to spend to convince them that they do not want to do it again.

What do you think :?: :lol: :lol:

8)
 
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