Is It Time To Revoke The Appraisal Foundation's Authority

[Terrel L. Shields]

I've met David Burton and I've heard him speak. He seems sensible enough - California appraiser as I recall and has a home with Solar array in the backyard which his appraiser gave $0 contributory value although saving him thousands annually..? Hmm....?

 

[Mike Kennedy]

I've met David Burton and I've heard him speak. He seems sensible enough - California appraiser as I recall and has a home with Solar array in the backyard which his appraiser gave $0 contributory value although saving him thousands annually..? Hmm....?

http://www.huffingtonpost.com/david-s-bunton/

 

[DWiley]

Anyone who wishes to serve on the ASB, AQB, or APB must first submit a written application. From there, the Nominating Committee of the Board of Trustees (BOT) will conduct telephone interviews of selected applicants. A subset of those who are interviewed by telephone are invited to a BOT meeting for an in-person interview. That interview is open to the public. (There were about a 100 people in the room when I did mne )

After those interviews, the Nominating Committee makes a final recommendation to the BOT, and it is the full BOT that votes on the memebers of the ASB, AQB and APB.

Anyone can "suggest" a new member, but that perosn would still go through the same process.

Anyone who wishes to know more can attend a BOT meeting. They are also open to the public.

 

[TD Morgan]

I've met David Burton and I've heard him speak. He seems sensible enough - California appraiser as I recall and has a home with Solar array in the backyard which his appraiser gave $0 contributory value although saving him thousands annually..? Hmm....?

Photovoltaic systems clearly add no contributory value to a property... (this is meant to be tongue-in-cheek)

 

[Don Clark]

Anyone who wishes to serve on the ASB, AQB, or APB must first submit a written application. From there, the Nominating Committee of the Board of Trustees (BOT) will conduct telephone interviews of selected applicants. A subset of those who are interviewed by telephone are invited to a BOT meeting for an in-person interview. That interview is open to the public. (There were about a 100 people in the room when I did mne )

After those interviews, the Nominating Committee makes a final recommendation to the BOT, and it is the full BOT that votes on the memebers of the ASB, AQB and APB.

Anyone can "suggest" a new member, but that perosn would still go through the same process.

Anyone who wishes to know more can attend a BOT meeting. They are also open to the public.

Thanks Danny!

No one likes authority. I served 20 years in the U.S. Navy. If I had asked any young sailor in those 20 years if they liked the Navy, I would likely get the same percentage this thread has.

When I went through Marine Corps training as a "Fleet Marine Force" Navy Corpsman so I could serve with the Marines(2 tours in Vietnam) and had asked any of the Corpsmen there, I would likely have got the same percentages. But, it was the authority of those I served under that in no small part allowed me to survive and be here today. And, on all the ships I served on, it was the authority of the command structure that meant survival in some harrowing situations.

The authority of the Appraisal Foundation is well founded and rooted in FIRREA, and overseen by the ASC and Congress. It is what keeps us all singing out of the same hymnal and when we digress, we get reminded by the states, exactly how we get back on track. Any other organization of appraisers will think first and foremost about what is best for their membership. TAF has the task of thinking about what is best for all of us, and the public.

 

[Terrel L. Shields]

Photovoltaic systems clearly add no contributory value to a property

Really? I can say a leased system won't. But even here, the last solar energy house/ geothermal AC I used as a comp was easily kicking up the value by over $20,000.

 

[DWiley]

I don't know about David Burton

David Bunton is not an appraiser; he has been the principle officer of TAF since 1990.

 

[TD Morgan]

Does anyone know who these people are? There are a bunch of names there, but no information about who the are. Do they have backgrounds in valuation, or are they real estate folks? Bankers? Attorneys? I presume that if they were proud appraisal folks, they would have links to indicate such. [Information in brackets is from personal research and not found on the page noted below.]

2015 Board of Trustees (23 members)

Given that TAF is given Congressional authority to focus on Real Estate valuation, I find it interesting that there are four personal property appraisers and two business appraisers on the BOT. One of them is not even based in the United States! One member has been a government bureaucrat for his entire career.

There are four individuals who are commercial fee appraisers and seven residential fee appraisers. Of the 23 members, less than half have a direct relationship with the business of real estate valuation.

[Disclaimer: While I have a governmental background and respect the competency of many professionals working for the government, I do not think they can fairly represent the fee-side of the business. Most governmental appraisers I have known may have understood valuation theory, but they had no clue how to run a business nor how to develop an actual report.]

Why is it that the majority of the Board of Trustees does not have direct involvement in the business of real estate valuation?

The following is based on what I could glean off the Internet and is subject to revision. A couple of the names were difficult to narrow down. Jeremy Gray is the only name not on the list below.

Accountant/Business Appraiser

• Anthony V. Aaron, ASA, CFA, FRICS, (accountant) Valuation and Business Modeling Principal, Ernst & Young (1985 – Present) Co-chairs the American Institute of CPA’s task force on best practices for valuing in-process research and development. Business Valuation Committee and the Business Valuation Standards Subcommittee of the American Society of Appraisers. (McLean, VA)

Business Appraiser

• Drew Stuart Dorweiler, founder of Dartmouth Partners Limited (Canada), Business Valuation, Litigation Support, Sports Business Consultant, Corporate Finance

Commercial Appraisers

• Herbert Jourdan, CEO at Spectrum Valuation (Ocala, Florida)
• Thomas (Tom) V. Boyer of Coalville, Utah, Boyer is the owner of Boyer Land & Livestock and Owner, TVB Management Company, a management, appraisal and consulting firm specializing in agriculture. He is also a consultant and appraiser instructor for the American Society of Farm Managers and Rural Appraisers and serves as a principal consultant for Altima Financial Partners based in London, England.
• Adam Johnston, SRA, AI-RRS, Chief Appraiser, Director of Investigations, US Mortgage Insurance, Appeals and Appraisals at Genworth Financial, US Mortgage Insurance (Raleigh-Durham, North Carolina)
• Ronny W. Johnson, Chief Collateral Risk Officer at Capital Farm Credit. (Southwest Texas)

Residential

• Susan Martins-Phipps, Licensed Agent (1978), Certified Residential Appraiser (1993), Phipps Realty (Warwick, Rhode Island) phippsrealty.com/agent/susan-martins-phipps/
• Mark S Levin, Business Appraiser (??? - Could not determine based on name provided.)
• Tom Munizzo, Chief Appraiser Accurity Valuation & Supervisory Consultant for Accurity Qualified Analytics (Chicago, IL)
• Lawrence Netterville, Netterville Appraisal Services (residential, income producing property, and commercial). Executive Vice President of the National Society of Real Estate Appraisers. Exec Vice President of The National Society of Real Estate Appraisers. (St. Louis, Missouri)
• Steve Spangle, SRA. Residential appraiser (1978), Spangle & Associates (2001), Instructor with Appraisal University www.appraisaluniversity.com. (Ashford, Connecticut)
• Dick Edmunds, ARA, AAC, American Society of Farm Managers and Rural Appraisers (ASFMRA), Owner, Edmunds Enterprises (25 years) (Delevan, New York)
• Michael H. Evans, FASA, FRICS, Appraiser at Evans Appraisal Service, Inc., American Society of Appraisers (Past President 2010-2011) www.evansappraisal.com (Chico, California)

Government or Non-Business Experience

• David S. Bunton [Worked as the senior staff member of The Appraisal Foundation since May 1990 (25 years). Prior to joining The Appraisal Foundation, he served as the Vice President of Government Affairs and Communications for the Federal Asset Disposition Association. He also previously served as a legislative assistant in the U.S. Senate for eight years and was a Congressional Chief of Staff in the House of Representatives for four years. BA degree in Government and Politics from the University of Maryland. Federal Asset Disposition Association.]
• Thomas Callahan, Executive Director Massachusetts Affordable Housing Alliance

Governmental Appraisers

• Lisa Hobart, ASA (director of assessment administration for West Bloomfield Township, Michigan)
• Debra Asbury, director of Arkansas state Assessment Coordination Division (32 years)
• David Layne, ASA, Owner of Layne Consulting Service. New York State Department of Transportation, Real Estate Division (30 years).

Art and Personal Property Appraisers

• Jane C.H. Jacob, Art apprasier, President at Jacob Fine Art, Inc., www.jacobfineart.com
• Leila Dunbar, Appraisals & Consulting LLC, personal property appraisals for sports, entertainment, wine, and pop culture (toys, advertising, automotive, movie posters, comics, etc.) memorabilia. Seen on 'Antiques Roadshow' www.leiladunbar.com
• Christine N. Corbin, ISA CAPP (member since Jan 01, 1990), Antiques & Residential Contents, Owner, Corbin Appraisal Services, Inc. Independent Certified Appraiser of Decorative Arts, Antiques and Residential Furnishings, and Brokerage of Antiques and Decorative Arts (Richmond, VA) corbinappraisals.homestead.com
• Elizabeth von Habsburg [Art Appraiser, managing director of Winston Art Group, an independent full service art consulting and appraisal firm, Board of The Appraisers Association of America (New York City) www.winstonartgroup.com https://www.linkedin.com/in/elizabethvonhabsburg]

 

[TD Morgan]

TAF has the task of thinking about what is best for all of us, and the public.

If they kept their focus on standards, I would agree. But they have no direct controls by the government, which gives a private entity too much power over the appraisal industry.

Congress actually has little real oversight. The ASC simply submits an annual report. Not much is done with that report, I guess.

(Just like the Federal Reserve, which is propping up the entire economy by buying governmental debt without the oversight of Congress. But this is a topic of conversation for another thread.)

 

[Eli]

If they kept their focus on standards, I would agree. But they have no direct controls by the government, which gives a private entity too much power over the appraisal industry.

Congress actually has little real oversight. The ASC simply submits an annual report. Not much is done with that report, I guess.

(Just like the Federal Reserve, which is propping up the entire economy by buying governmental debt without the oversight of Congress. But this is a topic of conversation for another thread.)

Ok, so better oversight. I would love some better management in a bunch of different areas. Revoke is such a strong word. Rehabilitation or redirection or guideance is better and we could all use some of that every now and then.

And according to some 'revoke" doesn't even apply to some issues being discussed here. Somebody has to have something before it can be revoked.