Math In Appraisal Work

[Tina]

This is a bit off topic...humor me please!

I have recently gotten my feet wet with regression analysis...

What a nifty tool! This is SO liberating!

I seem to be looking at "problems" in a completely different light! Every time I turn around I seem to find another application for it!

*I* may have just discovered the neatest thing since sliced bread! :dance:

TB

 

[Fred]

Tina,
Indeed. Appraising without regression analysis is like eating broth with a fork.

 

[TC]

Originally posted by Tina Brumwell@Jan 27 2006, 04:35 PM
*I* may have just discovered the neatest thing since sliced bread! :dance:

you gotta get out more often! B)



TC

 

[JSmith43]

Originally posted by Steven Santora@Jan 27 2006, 04:17 PM
Roger


I wasn’t nuking Mike’s niche. I was nuking the idea of telling newbies they don’t need no stinkin’ math.

You know about business models, Roger. Hasn’t licensing turned residential appraising into game where the low-cost report producer “wins?”

OK. I went back and did a slower read. If you were trying to nuke him, it would have been a much better job of it. Therefore, I retract the comment.

I always thought the "run like the wind" comments were part humor and part danger warnings, since usually the questioner already showed signs of weakness. I thought Mike was always telling the questioner to run, but not necessarily himeslf and others to run from the assignment.

Please don't make me read all his posts again.... like 9,000+ contributions

Steve S. states: "You know about business models, Roger. Hasn’t licensing turned residential appraising into game where the low-cost report producer “wins?” "

You mean, "mo money", when you say Win? After all, the high cost, slow delivery business model offers the appraisers that choose it lots more personal time. :rofl:

 

[Mike Garrett RAA]

I don't think I ever told anyone "we don't need no stinkin math" or even anything close to that. As I recall, and remember, I am getting old so I might have forgotten, but I think I said...."at the beginning level everything we cover can be done on a simple four function calculator and that a 12c was over-kill for a newbie appraiser". Isn't that what I said?

Run like the wind is or was my "by word" for "don't do what you are not qualified to handle". Fits right in there with..."you can't make chicken soup out of chicken poop" and the ever popular...."complex appraisal assignment".

We do have a remedial four hour math class, for those so challenged, at our real estate college. I always recommend it to my appraisal students if they are having trouble with the basics.

So, Steven, what is your favorite sushi?

 

[Fred]

Mike

I don't think I ever told anyone "we don't need no stinkin math" or even anything close to that.

I didn't put the words in quotes, attribute them to anyone and referred to them as an “idea.”

However, as I posted before, I distinguish between arithmetic and mathematics. I think you are at least implying the same. Arithmetic relating to the “four function calculator” stuff and mathematics relating to what you referred to as “advanced techniques but, in my opinion, this should be part of their apprenticeship and continuing education.”

Maybe there is a difference of opinion as to whether certain tools are advanced or basic necessities – and that affects what advice one would give to a newbie. The AQB is not infallible, but they are the ones who identified algebra, geometry and statistics as core PRE-LICENSING curricula for the non-degree track. They don’t’ cite them as “advanced techniques” for “apprenticeship or continuing education.” How can statistics be part of apprenticeship when the current generation of mentors doesn’t have this skill?

Based on a crude dividing line between arithmetic and mathematics with mathematics meaning algebra and above, isn't – we don’t need no stinkin’ mathematics – exactly what you are suggesting for newbies?

You mentioned something before about attacking our own. I would suggest the current system is a design for cannibalism. The lower, residential tier is trained to quickly create form reports that only look like real appraisals. The most knowledgeable and talented residential practitioners are forced to compete on fast-and-cheap basis against th barely-paid army of trainees, most of whom end up quitting. The dumb-down approach to residential appraising is benefiting neither society nor the profession.

 

[Fred]

Here's something from another thread, an internet solicitation for residential appraisal services.

"ORDER: 2608712
ADDRESS: 10570 BARCUS AVE NE
ALLIANCE, OH 44601
SERVICE: 1004 URAR with 1007 and 216, 1004 URAR with 1007 and 216
DUE DATE: 02/02/06 Noon ET
FEE: $100.00

This notice is being sent to you as a request to perform the service indicated above. Please respond immediately to accept or decline this request by simply clicking on the following link and indicating whether you are willing to perform this service for the indicated fee. "

That's the pot of gold at the end of the rainbow for bottom-fighing your way into the appraisal profession.