July 2008 ASC Q&a- Wink Wink Comp Comp

[Mike Phillips]

I always find it amazing that Residential people throw up their mess in the face of Commercial appraisers. The simple fact of the matter is that commercial people dont put up with the bs that residential people do. It appears to me that Commercial appraisers manage their business in such a way as not to have to deal with the crap. Do comp checks happen in commercial work .. Im sure they do ... do we say bug off .. you bet.
The problem is that Residential people see no way out and Commercial people havent ever let it in to begin with. I would think instead of asking what would Commercial appraisers do .. youd ask yourself if Residential people did what Commercial people do would the problem go away.
Try it ... what your doing isnt working very well.

PE, tell you what. I really, really do appreciate what you are saying because it is true, but let's don't forget there is a large number of commercial appraisers who just can't keep their fingers out of the residential pie, and they do (residential) comp checks and they also either require their residential staff appraisers to do them or they support their residential staff appraisers doing them. If you think otherwise you are wrong - I know what goes on in my state.

Commercial appraisers enjoy one significant advantage: the barriers to entry required to practice are far higher compared to residential appraisers. Residential appraisers know that.

Of course, it did take the AQB quite some time to raise those standards for residential appraisers, didn't it? Until competence fell to record lows. Until the public's perception of the accuracy and reliability of the typical residential appraisal was reduced to nearly zero. Seems to me they had 20 years to get it done - why wait so long?

And my guess is there were quiet a few commercial appraisers who could have helped their residential peers by helping to raise those barriers, but instead they remained silent or they gave the issue token lip service, because, after all, many didn't and don't have a dog in the fight.

So, I hear you, and it seems I recall I generally agree with most of what you say. But this time I'd appreciate it if you would ease up a bit regarding how commercial appraisers handle this or that - I'm not sure you have any clue what goes on in my state or in my market area.

 

[PropertyEconomics]

PE, tell you what. I really, really do appreciate what you are saying because it is true, but let's don't forget there is a large number of commercial appraisers who just can't keep their fingers out of the residential pie, and they do (residential) comp checks and they also either require their residential staff appraisers to do them or they support their residential staff appraisers doing them. If you think otherwise you are wrong - I know what goes on in my state.

Commercial appraisers enjoy one significant advantage: the barriers to entry required to practice are far higher compared to residential appraisers. Residential appraisers know that.

Of course, it did take the AQB quite some time to raise those standards for residential appraisers, didn't it? Until competence fell to record lows. Until the public's perception of the accuracy and reliability of the typical residential appraisal was reduced to nearly zero. Seems to me they had 20 years to get it done - why wait so long?

And my guess is there were quiet a few commercial appraisers who could have helped their residential peers by helping to raise those barriers, but instead they remained silent or they gave the issue token lip service, because, after all, many didn't and don't have a dog in the fight.

So, I hear you, and it seems I recall I generally agree with most of what you say. But this time I'd appreciate it if you would ease up a bit regarding how commercial appraisers handle this or that - I'm not sure you have any clue what goes on in my state or in my market area.

My response was directly to a prior post. I have never thought one appraiser better than another -- EVER. Im simply tired of the so many here who appear to wish bad on fellow appraisers. The whining is getting old.
The truth is actually quite simple ... manage your clients or have them manage you. Run your business or it runs you.
So many dont get this simplest of concepts.

Best of luck to all.

 

[Conservative in Virginia]

Here you go folks:

http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=233573

Please DO read through this Broker Outpost thread to see exactly why what TAF came out with has added many more nails to the residential appraisers coffins.


"Just say NO!" ? m2: m2: m2: Will NEVER help anybody.

I was waiting for THAT... They told us so... we were wrong.. we are the slaves..they are the masters... nothing will ever change.

 

[woodyva]

Here you go folks:

http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=233573

Please DO read through this Broker Outpost thread to see exactly why what TAF came out with has added many more nails to the residential appraisers coffins.


"Just say NO!" ? m2: m2: m2: Will NEVER help anybody.

I just read through the posts over there. Pam, you are right. To qoute a friend "sometimes perception is the reality". TAF by furthering their vague responses has proven again that they lack a spine. They have handed fuel to a fire that makes us even more vunerable.

How can anyone use these folks: some of these brokers say things like it's not illegal to run a red light unless a cop sees you. These are the same people that are lending to sinle moms, and folks who just don't know any better.

How can any broker admit to how shallow their morals are? I will tell you that no one withing their regulation systems either cares or looks at the thiings these criminals post.

 

[Hamlet]

I hear you, PE, and I say NO all the time. I don't accept these orders and sleep very well at night. The problem is that SOMEONE is accepting these orders and it is a key factor in ruining our economy.

As a tax payer (as well as an appraiser) I'm sick of it. Crooks running amok, in business and our government.

Reading the drivel on the BO, I knew the Q&A would be grape jelly to the skippies. Mostly because they do not read and have no interest in understanding.

I think it may happen on the commercial side, but it is more prevelant on the residential side simply because of the type of borrowers and the type of loans. How many no doc, liar loans are there on the commercial side. Not being smart, I don't know and I'm asking?

 

[Fred]

I see it slightly different than residential versus commercial.

It simply has to do with diversification.

But supply and demand has to be a big part of it, and that has to prevent people from diversifying out of mortgage work. The number of residential appraisers in California doubled since 2002. I think mortgage volume peaked around 2002-03, and is down by 75%. If there weren't too many appraiser chasing too few assgnments, there is no way the market would be getting more work for much less money. The new 1004 is more work and more liablity, and most large lenders are jacking up the work requirements, and offering a whopping $200. Until there are few enough that people will start saying - $200? I need that just to turn on my computer! - I don't see it changing.

 

[George Hatch]

The excesses in the commercial market are already starting to boomerang back to those lenders that were foolish enough to participate. The difference is that the paper trails for these problems is a lot shorter for those lenders.

 

[Fred]

TAF by furthering their vague responses has proven again that they lack a spine.

Spine? No monopoly on the blatherskite concession.

When appraisers created the foundation, it wasn't so they could be suicide bombers in a residential appraiser jihad.

 

[woodyva]

Spine? No monopoly on the blatherskite concession.

When appraisers created the foundation, it wasn't so they could be suicide bombers in a residential appraiser jihad.

Steve:

Please do not take this as an insult directed at you. i truly think your opinion is worth hearing. (i do wish you could actually post in a way that is contemporary enough for normal people to understand you.)

I have learned from my short observation of this forum that there are people who care and those that don't. There are people who need to be held by the hand by being given a black and white list, unless the lists say you can not do something, it is assumed that you can. Then there are those folks that read something and make ethical decisions without needing to find ways to bend what they want to hear out of vague language.

 

[Hamlet]

Steve:

Please do not take this as an insult directed at you. i truly think your opinion is worth hearing. (i do wish you could actually post in a way that is contemporary enough for normal people to understand you.)

..........