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Of course, that conclusion requires either knowledge of the number of appraisals completed in each population center, or a grandiose assumption that every population center has an identical number of appraisals completed per capita. Or, of course, there is unsupported conjecture, too!
Really? Do you work for Freddie Mac?
My issue is defining great appraisals as being higher opinions of value than the homeowner expects and bad appraisals are defined as being lower than the expectations of the homeowner. You don't see them going after appraisers who could have a bias to the higher end. If someone gets two appraisals and mine is lower it is the bad appraisal regardless of the credibility of the appraisals.
I think a more reliable stat would be residential housing units in each county (SFR only) vs Certified or Licensed Res appraisers. Obviously, those are tougher stats to get ahold of. I know from living in both counties in the past that the median income in Mont. County is quite a bit higher than PG County. That typically will lead to a higher incidence of home ownership as well. I also would assume that turnover is higher in Mont. County as well, meaning more assignments per house on average.
You didn't define it that way, I was not meaning to accuse you of that. That is just the takeaways I see when people are claiming racial bias. But what about the "bad" (or not credible) appraisals that are higher than the market? This can be due to not being familiar also. Of course it can also be a lot of good appraisals and different expectations, some people can see there is the political will to bully a lawsuit without the facts.
I agree. My point is people think there is an issue with the credibility of an appraisal they do not need to even claim bias. Bias is claimed because it has political willpower to not need to attack the facts or at least not as much. A bigger issue I see is the skippies that no one cares about providing reports without credibility until houses start getting foreclosed on in a downturn. I think more likely biases are to appraise higher to avoid complaints or appraise lower to avoid getting sued successfully if the house is foreclosed on later. I saw a family sale appraisal of a house that I was assigned to appraise, I assume as a second opinion. They appraised it at contract price using REO and distant sales ( I assume to appraise it lower and not go over the sales price). It was not a fixer upper or unusual property.
Minorities might be smarter than to become appraisers for the most part.
Yes, I agree. I have had a lot of people over the years ask me. They become almost immediately disinterested when I tell them steps it takes.I think a lot of people would like to be appraisers. I think the lifestyle and compensation probably works for most people. Complaining appraisers kind of spoiled if you ask me.