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You seriously need some sort of evidence to show that paying less for something results in lower quality?
It happens all of the time that someone figures out how to produce something that costs less that is of equal or higher quality...Your thinking is exactly why the Japanese auto makers (Honda, Nissan & Toyota) absolutely buried the American auto industry stating in the mid to late 1970's...they figured out how to produce higher quality, longer lasting vehicles that cost less. There are tons of other examples of this out there, including Amazon, who is consistently able to offer the exact same products for a substantially, lower price than most retail outlets.
 
It happens all of the time that someone figures out how to produce something that costs less that is of equal or higher quality...Your thinking is exactly why the Japanese auto makers (Honda, Nissan & Toyota) absolutely buried the American auto industry stating in the mid to late 1970's...they figured out how to produce higher quality, longer lasting vehicles that cost less. There are tons of other examples of this out there, including Amazon, who is consistently able to offer the exact same products for a substantially, lower price than most retail outlets.


Yeah and MSRP on the window sticker is pretty detailed. This stuff stinks to high heaven. Antitrust law, state law, etc will bring it down, I luv it.

Lawyers make laws and laws bring their laws down. You have to luv it.
 
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It happens all of the time that someone figures out how to produce something that costs less that is of equal or higher quality...Your thinking is exactly why the Japanese auto makers (Honda, Nissan & Toyota) absolutely buried the American auto industry stating in the mid to late 1970's...they figured out how to produce higher quality, longer lasting vehicles that cost less. There are tons of other examples of this out there, including Amazon, who is consistently able to offer the exact same products for a substantially, lower price than most retail outlets.

That is not the whole picture. In the 70's, there were a lot of quality issues with American cars and they were big gas guzzlers. Japanese auto makers could charge less to their nation's lower labor charges. Forward ahead to recent years, the Japanese cars are often no longer cheaper than American cars, with both Japanese and American car companies offering a range of prices and model lines including luxury cars/SUV's. Consumers when choosing a car, as with anything else, often will opt to pay more rather than less since they get more.

Amazon started offering cheaper products, now many are the same price as other retailers or even more $ on Amazon. What it does offer is free shipping if a prime member and easy one stop shopping for a wide range of goods.

And Amazon itself offers many price points of the same product, since consumers whether on Amazon or elsewhere, ofen choose a mid price or higher price product they prefer (one assumes it performs better/offers better quality)
 
"Alternative Valuation Assignments

August 8 @Ohio REALTORS®/Columbus

Each appraisal assignment is different and no single "form" report could cover all the requirements for all assignments.

Learn how and when "alternative" reports can be used to satisfy the diverse needs of your clients and intended users. ($169)"

Realtors promoting Blind appraisals. Right on cue.
 
An accident waiting to happen. When federal law don’t rhyme with state law.

Uhh, get ready.

Federal law don’t even rhyme with federal law. Get ready.

We should have been lawyers. They will capitalize.
 
Maybe. That is certainly the case right now, but that is primarily because the software used is proprietary. If there is a standard Fannie form that is available in all formsware, then that changes the game with regard to staff use versus independents.

Whether they are staff or independent, I do think that there will be some who choose to specialize in this work, because doing only one type or the other would be inherently more efficient.

As for fees, the market will dictate that. While I have a lot of latitude/input with regard to policy and strategy at my company, that does not extend to changing the basic laws of supply and demand. PIW and "hybrids" will collectively suck up a lot of the easy ones, and that should mean higher prices for 1004s. I say "should" instead of "will" just because of all the prior discussions about appraisers, pricing and business acumen.

And, to add to why Fannie is pursuing this, just read their own material. They are trying to modernize the process. Right now, the appraisal business/process is the equivalent of a local retail store without a web site in an Amazon driven world. From start to finish, the appraisal process does not avail itself of technology in the way that consumers/customers have become accustomed to in other parts of their lives.

In response to the last part, it is about Fannie's change in direction , will see how it plays out but imo is high risk on the appraisal end ( I understand some of the mortgage process is digitized and thus faster ). On appraisal end, yeah appraisals are not UBER or Amazon live streaming click fast results. Then again, buying a house worth hundreds of thousands of dollars or borrowing against a property are not the same consumer experience as ordering a pizza or UBER ride or Amazon movie choice. A wrong decision on a house or over leveraging a loan can mean equity loss and economic pain for borrowers/owners which then extends to investors and the economy. Consumers accustomed to instant service elsewhere perhaps need to understand it is not prudent to expert that of a high $ life lending/purchase transaction, Even if they do expect or prefer it , they may deeply regret the consequence later.

Just commenting, nothing will stop the Fannie/lender train but both have dismal track records from their bailouts, history littered with fraud ( such as WF fake accounts, toxic loans, high risk lending going back in that direction...Fannie and Freddie used to be the brakes on the train, now they are accelerating it down the track ...will see if it stays on track or not go off the rails.
 
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That is not the whole picture. In the 70's, there were a lot of quality issues with American cars and they were big gas guzzlers. Japanese auto makers could charge less to their nation's lower labor charges. Forward ahead to recent years, the Japanese cars are often no longer cheaper than American cars, with both Japanese and American car companies offering a range of prices and model lines including luxury cars/SUV's. Consumers when choosing a car, as with anything else, often will opt to pay more rather than less since they get more.

)

TOKYO — Nissan Motor said on Thursday that it was suspending production at all of its Japanese factories after it discovered that uncertified technicians had conducted vehicle inspections even after a previous disclosure of the practice led to a major recall

https://www.nytimes.com/2017/10/19/business/nissan-japan-suspends-production.html


It gets better. Fast forward to the latest discovery of lies and deceit that has been on going for decades.. The list is LONG of Japenese car scandals not seen on local news stations.
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Japan's once-impregnable reputation for quality vehicles has taken a battering. Nissan Motor Co. has just announced plans to suspend local car production and is under regulatory scrutiny after admitting it has used unauthorized safety inspectors. Auto industry supplier Kobe Steel Inc. has fessed up to forging data on aluminum and other materials going back decades. Takata Corp., whose exploding air bags were the subject of the industry's biggest ever recall, filed for bankruptcy in June.

July, 2018
Nissan Motor has admitted that an internal review has revealed falsified emissions testing data in most of its factories in Japan. The Asian country’s third-largest carmaker has not announced how many of its vehicles were involved in the controversy, though the company stated that inspectors used “altered measurement values” on emissions inspection reports.

Nissan has assured the public and its investors that investigations are now underway. The carmaker also stated that it had retained Nishimura & Asahi, a prominent Japanese law firm, to lead the investigation. Nevertheless, Nissan’s disclosure comes as the latest blow to the Japanese carmaker. Last October, after all, Nissan was faced with controversy after it was forced to stop the operations in its Japanese factories and recall 1.2 million of its cars after it was revealed that vehicle inspections in its facilities had been conducted by uncertified technicians

Subaru drawn into Japan quality management scandal
Subaru said it allowed unauthorised technicians to inspect its vehicles for decades, as the carmaker became the latest Japanese company to reveal a problem with quality management.

Subaru’s admission — that it allowed trainees to conduct final inspections on vehicles destined for the domestic market — raises further questions about Japan’s corporate governance, following a similar scandal at Nissan and data falsification at Kobe Steel.
 
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It happens all of the time that someone figures out how to produce something that costs less that is of equal or higher quality...Your thinking is exactly why the Japanese auto makers (Honda, Nissan & Toyota) absolutely buried the American auto industry stating in the mid to late 1970's...they figured out how to produce higher quality, longer lasting vehicles that cost less. There are tons of other examples of this out there, including Amazon, who is consistently able to offer the exact same products for a substantially, lower price than most retail outlets.

:rof::rof:

Marshall and Swift, most definitely relate quality to cost.

And we are appraisers, not car dealers.

:D


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