How long the comps we can go back?

[Sadie]

Find the best sales regardless of date of sale. Then figure out how to best adjust for market conditions and write a really good explanation as to why you used a comp from olden times. USPAP says use the best comps as does Fannie (not sure about Freddie but I think its the same). I know of no client that puts a limit on date of sale. Maybe placement in the grid but not the actual use.

 

[Carnivore]

Way back awhile now we residential appraisers were attacked because we have a inherent bias. I recall those Brookings bunch looking down at our TAF members. Those Brookings peeps had disdain for them and by extension we appraisers. Why? Because most of us have not (their thinking) experienced multicultural campus life. I assumed that' had we had that experience we wouldn't have been accused as much of bias and it would have changed the attitude of Brookings proff's

 

[David S]

Wow ! The discuss went off original po a lot. lol.

 

[Terrel L. Shields]

though idk that an MAI needs college to get the designation.

I took Calculus and Analytical Geometry. The AI income courses are equally intense. You had 36 hours in-class in college - 2 income classes with AI was 30 hours in class. Just over a much shorter time period.

Overall, most professions (not trades, professions ) have a college degree requirement and benefit from it.

Tons of jobs have degreed and non-degreed working side by side.

a number of the posts from people who can not grasp the concepts

There are always people who lack that very natural skill needed to solve problems...that heuristic intuition with logic and thinking skills that cannot be taught easily.

Wow ! The discuss went off original po a lot. lol.

Well, the key to the original question is what is the decision tree we need to use to consistently choose the right comps for the assignment. And it revolves around our judgment, our experience, and the quality of the data. And that implies we have to be able to judge the quality of the data as well as analyze the problem at hand. Again, that basically means we go back in time or we go further out. It's a choice.

But judgement is the key. Even in the "trades". I watched video of a machine shop what rebuilds engines. Very precise rebuilds. They were polling the mechanics. One was making $60 an hour and one how started six months earlier was making $40 an hour. You know why? Because they were problem solvers. They had the ability to diagnose the reason an engine failed and the skill to correct it. You don't get repeat customers for $10,000 rebuild jobs if the engine isn't perfect.

 

[Carnivore]

Wow ! The discuss went off original po a lot. lol.

All you had to do to avoid this was to take the time yourself and look it up in FNMA selling guide. Once you found it, read it maybe you wouldn't have had to ask anything except to possibly clarify what you read.

 

[Carnivore]

All you had to do to avoid this was to take the time yourself and look it up in FNMA selling guide. Once you found it, read it maybe you wouldn't have had to ask anything except to possibly clarify what you read.

I tried to edit my post above but for some odd reason I can't I was a little rough

This is a good resource

https://singlefamily.fanniemae.com/media/6776/display#:~:text=Fannie%20Mae%20permits%20an%20appraisal,the%20existence%20of%20these%20conditions.

 

[sputnam]

For res appraisers that may help but that's not what the AMC leeches are looking for. Their checker dudes and dudettes are low paid. Most of them were lured away from fast food industry.

Are you saying that appraisers should just learn how to make the AMC leeches happy instead of striving to be professional appraisers?

IMO, any appraiser who is developing and writing appraisals just based on what AMCs want, is in the wrong profession. Instead, do the appraisal as it should be done.. and only then, add elements or comments that will satisfy the AMC/Client

 

[Carnivore]

I caught an AMC adding to the clients statement of work. I read the LOE on line then downloaded it in legal length paper form. about 5-6 inches Below the Lenders instructions it said and I quote "and additionally our appraisers do this.

So I ignored the AMC stuff. I sent in report and they conditioned me for their added SOW. I told them I would for extra bucks. They promptly deleted their added sow and removed the request and accepted the report.

 

[J Grant]

There are always people who lack that very natural skill needed to solve problems...that heuristic intuition with logic and thinking skills that cannot be taught easily.


Actually, logic and thinking skills can be taught - and that is what a four year degree does teach- people flunk out of college who can not grasp those fundamentals. And it is the reason why law rewuires a four year degree and after that, law school and why bedcoming a doctor requires a four year degree and after that , med school. It if were just about skills, then medicine and law would skip college degree and just send applicants to law school or med school. But they don't - because memorizing legal or medical is not the same as abstract and moral thinking skills - logic, reasoning and the ability to synthies opposites or opposing viewds vs simplistic black and white or follw A and B happens is what the humainites teaches. Developing that kind of thinking, which philoophy, religion, the humanites imparts is eduation for the sake of educaiton - it is not about jobs , earningr, or incomes. People can self educate and get exposure to studies outside of a four year degree of course, but the degree is open to anyone who can get into a school and maintain the grades nd stick it out to finsih and is a way for employers to have a verfianble proof of it. Pililng on more skill set courses is not the same thing. And we see that in posters here who managed to memorize enough to get licensed but then lack the ability to apply it.

t


Below from internet:

:The main difference between a trade and a profession is the level of education required and the primary focus of the work:

• Education
  Professions usually require advanced education, such as a university degree, while trades typically require apprenticeship training and hands-on skill

 

[Carnivore]

Clearly by most definition sources Appraiser's are classified as Professionals. So we are not Blue Collar nor are we White Collar. You could say we are light grey or light blue collar. With Parea and desktop appraisals we would certainly be casual white collar.


The main difference between a trade and a profession is the level of education and training required:

• Trade
  Usually requires apprenticeship training and hands-on skills. Trades often involve manual skills, such as those of a bricklayer or painter.
• Profession
  Usually requires advanced education, such as a university degree. Professions are often intellectual occupations that require high-level skills, such as those of a lawyer, accountant, or teacher.
  
  

Both trades and professions require specialized knowledge, training, and skills.