Illinois Board Issues Warning On Hybrid Appraisals

[Elliott]

It is hard for appraisers to accept, but TAF is only beholden to Stakeholders, not appraisers, we are just the cannon fodder for their authority and riches.

 

[djd09]

go do your 300 hybrid, shill.

 

[DTB]

Some appraisers do desktop appraisals, some appraisers do 2055 exterior only appraisals, I did neither, as a business decision.

Some will do hybrid appraisals.

Does the data gleaned by an inspector, any inspector not add even one smidgen of more information than the aforementioned types of appraisals? I certainly think the inspection can add quite a bit. Dismiss all of the inspectors's commentary and just check the photos if you like. A picture is worth a 1,000 words, right?

We have some appraisers here who talk to neighbors while shooting comp pix. Why? They say the neighbor can tell them quite a bit about the house next door. If they can tell you quite a bit, how about an interior/exterior inspection with photos and a sketch? Nothing?

Data is typically not perfect, work with what you have and explain.

 

[chad hampton]

Don’t state boards regulate appraisers? Or can complaints go straight to Fannie Mae for these new products?

 

[Mr Rex]

This conversation reminds me of the current political climate and the hatred for the outsider Donald Trump. Elected but not accepted. Haters should spend their time productively seeking solutions rather than spouting half arse supported theories but no answers other than this is not acceptable. I don't espouse the Bi Fur concept, but the arguments presented here by the haters are actually ammunition for the proponents. as they illustrate that the only reason appraisers reject is to protect their turf and fees. We damn well better come up with some better arguments and ideas ASAP or the end of the gravy train of "Full Appraisals" is about to meet another train head on.

 

[djd09]

15th st is a party. revaa, fannie, taf. no conspiracies, just facts. maybe they should just combine into one private org. roof top meeting at 8. strippers at 9. coke at 10. jack at 11. highballs at 12. rocket all night.

 

[Evincere]

Inspector performing the HBU? How did you get that? They're literally just taking inventory of the subject's physical on-site attributes.

How can anyone analyze HBU who isn't pulling the zoning (not the inspector), analyzing the composition of the neighborhood (not the inspector), analyzing the market conditions (not the inspector) and having at least some idea of the underlying land value for the purposes of comparison with the values of the improved properties (also not the inspector).

On the inspection form shown as an example the inspector obviously pulled the property zoning data and rendered an opinion on the property’s “use” as of the date they inspected based on a visual and zoning information. How else could they accurately answer the question -swag?

 

[George Hatch]

This conversation reminds me of the current political climate and the hatred for the outsider Donald Trump. Elected but not accepted. Haters should spend their time productively seeking solutions rather than spouting half arse supported theories but no answers other than this is not acceptable. I don't espouse the Bi Fur concept, but the arguments presented here by the haters are actually ammunition for the proponents. as they illustrate that the only reason appraisers reject is to protect their turf and fees. We damn well better come up with some better arguments and ideas ASAP or the end of the gravy train of "Full Appraisals" is about to meet another train head on.

I could only put one like on this post so I bumped it.

 

[Evincere]

This conversation reminds me of the current political climate and the hatred for the outsider Donald Trump. Elected but not accepted. Haters should spend their time productively seeking solutions rather than spouting half arse supported theories but no answers other than this is not acceptable. I don't espouse the Bi Fur concept, but the arguments presented here by the haters are actually ammunition for the proponents. as they illustrate that the only reason appraisers reject is to protect their turf and fees. We damn well better come up with some better arguments and ideas ASAP or the end of the gravy train of "Full Appraisals" is about to meet another train head on.

Haters? Why no mention of Lovers?

 

[George Hatch]

For those of you who are getting excited about your state boards taking an activist approach on this issue let me say this:

For years we've been hearing how vulnerable appraisers are to the whims and biases of the various personalities at their state boards. Well, just because you're currently in agreement with those whims at the moment doesn't make it a good plan to encourage such reactionary conduct. We should all want our regulators to move with great care and deliberation and with the widest possible perspective, looking as far downrange at the possible outcomes as they possibly can.

And not just in this one situation, but in all the various situations they run into. You should *always* want your regulators to behave in a deliberative and predictable and consistent manner. The only way you'll be able to operate with any degree of confidence WRT these requirements is to for them to behave in that well informed and consistent manner.

The name of the game here is the appeal to reason (this is why we do this), not the appeal to authority (Because Mr Boss Man said so).