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Lying Appraisers
- Thread starter Doug Wegener
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PDXOregon
Junior Member
- Joined
- Apr 18, 2011
- Professional Status
- Certified Residential Appraiser
- State
- Oregon
If that's how you approach it then you should put that statement in your reviews in order to declare your bias and lack of objectivity.
Last edited:
normando
Senior Member
- Joined
- May 2, 2009
- Professional Status
- Certified Residential Appraiser
- State
- California
Economists can't even agree on state of our economy. I remembered back in 2008, economists couldn't agree whether we were in a recession. It took a major crash before all economists agreed that we were in a bad economy. By then, everyone knew.
lls4910
Sophomore Member
- Joined
- Nov 18, 2012
- Professional Status
- Certified Residential Appraiser
- State
- Florida
Really?
I collect information from a variety of sources, including (not only) online historical data. I see no reason to exclude data that may be useful in analyzing the market at that time.
Do you rely on your memory?
23Degrees
Senior Member
- Joined
- Jan 31, 2004
- Professional Status
- Certified Residential Appraiser
- State
- California
What were the NAR economists saying? I might have missed their memo that things were not looking so great but I recall thinking that those guys would probably still be calling it rosy if a zombie apocalypse hit and the only ones showing up for open houses were animated corpses trying to eat the listing agent.
Meandering
Elite Member
- Joined
- Feb 26, 2006
- Professional Status
- Real Estate Agent or Broker
- State
- Pennsylvania
Here's what they are saying now.
I’m getting richer by the day. My home value is rising at a rate of 1% per month according to the National Association of Realtors. At that rate, my house will be worth $1 million in less than 10 years. My underwater condo (figuratively – not literally) in Wildwood will resurface and make me rich beyond my wildest dreams.
http://www.theburningplatform.com/?tag=lawrence-yun
I’m getting richer by the day. My home value is rising at a rate of 1% per month according to the National Association of Realtors. At that rate, my house will be worth $1 million in less than 10 years. My underwater condo (figuratively – not literally) in Wildwood will resurface and make me rich beyond my wildest dreams.
http://www.theburningplatform.com/?tag=lawrence-yun
normando
Senior Member
- Joined
- May 2, 2009
- Professional Status
- Certified Residential Appraiser
- State
- California
I stopped listening to the NAR economists because they're always optimistic always seeing a silver lining. When I state an increasing market, reviewer ask to increase all comps since I said increasing market. Am I a computer and just linearly increase everything? Some comps sold below and some sold over market. You can't just raise prices like an equation. Sorry just my pet peeve with some reviewers.
Meandering
Elite Member
- Joined
- Feb 26, 2006
- Professional Status
- Real Estate Agent or Broker
- State
- Pennsylvania
Oh come on,
He has his own fan club.
Lawrence Yun Watch - Follow the NAR's hack as he denies the housing bubble and crash
http://lawrenceyunwatch.blogspot.com/
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He has his own fan club.
Lawrence Yun Watch - Follow the NAR's hack as he denies the housing bubble and crash
http://lawrenceyunwatch.blogspot.com/
.
J Grant
Elite Member
- Joined
- Dec 9, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Florida
Obviously a reviewer will have the hindsight of what happened. However, they should put that aside and when doing a retro review, limit the expectation of analysis and data to what was available at the time.
Being neutral when doing a review is not easy, but once one sets certain paramaters , is not that hard either. What information was avail at the time, and if the market was changing, or in a grey area, what was the most relevant data to subject ?
If an OA marked market stable when the change hadn't hit yet as far as sales prices ( prices often lag behind ltrends), then what were the listings at the time? And what were the marketing times of solds and relevant listings?
It can be excused that an appraiser still marked stable when prices were not yet caught up with trends, but if the same appraiser marked 3-6 months marketing time, when it is plain to see that relevant listings had marketing times of 8 months and above and the solds were showing longer and longer marketing times, then the appraiser clearly marked a box contrary to the data available at the time.
Go step by step through a report, and a picture emerges of how often and in what instances an appraiser reported conditions or conclusions contrary to readily avail data (if that is what they did).
Being neutral when doing a review is not easy, but once one sets certain paramaters , is not that hard either. What information was avail at the time, and if the market was changing, or in a grey area, what was the most relevant data to subject ?
If an OA marked market stable when the change hadn't hit yet as far as sales prices ( prices often lag behind ltrends), then what were the listings at the time? And what were the marketing times of solds and relevant listings?
It can be excused that an appraiser still marked stable when prices were not yet caught up with trends, but if the same appraiser marked 3-6 months marketing time, when it is plain to see that relevant listings had marketing times of 8 months and above and the solds were showing longer and longer marketing times, then the appraiser clearly marked a box contrary to the data available at the time.
Go step by step through a report, and a picture emerges of how often and in what instances an appraiser reported conditions or conclusions contrary to readily avail data (if that is what they did).
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