• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Now I've Heard Everything

Status
Not open for further replies.
It seems that I am not alone after all. These are the same problems I am confronted with on an almost daily basis. The market here has become a house of cards. One inflated appraisal is generating the next until they become the sales data available for use. Some of the reviews I have done get me so frustrated that I want to chuck the whole thing.
 
Try this...
we have a local lender here with about six branches. The president of this branch is Joe. The ONLY appraiser they use anymore is Joe's Daddy-in-Law Pete (who is a registered trainee being "supervised" by somebody 130 miles away). Amazingly, this branch dropped all of their other appraisers (including your humble correspondent) when Pete decided to go into appraising. Pete's other job is as a real estate broker in his sister Janice's office. This one of the two largest broker firms in the area, and they probably do 50% of the sales around here.

Wanna bet which appraisals make the value at that bank? Want to invest?

Kathy in FL
 
<span style='color:darkblue'>Kathy,

Careful talking about Joe that way, and now that I think about it, Pete is not such a bad guy either !!

My goodness, Kathy !

Now, true, somehow your state not only saw fit to put Frank Gregoire on your appraisal board, and has had the insight and judgment to keep him there, but things could sure change. The pressure from several other states for Florida to get its act together and to conform to the norm could be very substantial -- you see, things could sure get rectified quick. What I am trying to tell you is that I've been around a while, and have sure come to recognize obvious board material when I see it (or hear of it). Now, let's not be cynical here, OK? Surely you don't think I am suggesting that Joe and Pete may be sitting side-by-side on your state's appraisal board before long, right?

Of course not! Let's be reasonable. That would be thoroughly improper and unseemly in anyone's, or any state's, book. Do you think such vital appointments by many states are not taken every bit as seriously as those made by some of our country's leading corporations when selecting positions for their corporate boards of directors? Of course they are! OK, sure, Lay and Skilling may still be on several major corporate boards, and are still highly sought after for others, but I can assure you they are very rarely found sitting side-by-side at those mahogany tables !! On each and every director's board as well as the state licensing and regulatory agencies they currently sit on, if I am not mistaken, either Michael Milken or Martha Stewart sits in-between them -- and in several cases both of them do ! So shame on you for harboring such groundless, preposterous suspicions. Have you no faith in the system !?

Hey, Kathy -- If you're still unconvinced these fellas are 100% upright and well deserving of their rightful posts at the helm of your state's appraisal board (and ready to replace the likes of Frank and other similar aberrations), just give them a week or two to become a hair more seasoned and fully paid-up MAI candidates and Associates in good standing with the Appraisal Institute -- then you'll see!

If there could possibly be any remaining doubt in your mind, why not have a chat to get official endorsements for these fellas from a couple of pillars of the state's business and appraisal communities? Say, right from the future chairwoman, or even the future legal counsel & prosecutor of Florida's appraisal board? Either Janice or her mother would be more than happy to speak with you.

And one other thing. These guys know what it takes -- And by golly, They Have What It Takes! They're obviously exceptional businessmen deserving of your and your colleagues utmost respect. (What ?! Well, for one, they either have more, or will have much more, money than you, right? -- be sensible for a change. What will it take for you to recognize the fact that they're far better, more knowledgeable appraisers than you and other so called experienced appraisers in the state!?) And, as such, they are likely already aware of several "deficiencies" in the state's appraisal community -- and sure as hell, BTW -- won't be needing any stinking Standard 3 Reviews to prove it. I'll guarantee you Florida can look forward to an improved appraisal community starting almost immediately with the elimination of several "appraisers" formerly and erroniously once used by the very best lender in town (and its six branches) that everyone has been hearing about.

As you can see, my message to all with this post is:

Relax! Enough of the cynicism! Have a little faith, Kathy! Let me ask you this: Has the system ever failed you or others in any way? Could it even possibly ever let you down? Nonsense. The system will certainly continue to take care of its citizens -- which includes you and other good appraisers (maybe sooner than you think).

Regards,

David C. Johnson
NC State-Certified General R.E. Appraiser</span>
 
Thursday:

"I need you to call Mrs. Soandso and find out if you can get me $122000 for her house. If you can, we'll need an appraisal. I will be frank, I have another appraiser who can get me $120000."

She was good enough to fax this to me AND leave the above on my voice mail.

When I informed her her request was illegal she promptly cancelled the "value request".


Monday:

Email from Newbie Loan Officer: "Can you do a value search for me? I want to know if this house will appraise at $185-$190,000." Followed by a faxed "Value Search Request" form. Yes, this clown actually has a form for his predermined values.

Any help on where I can send this garbage? This is really out of control.
 
Newbie LO just called wanting status on his "value search".

"how long do these take?" --NLO
 
Florida Department of Banking and Finance.

At least find out if they have a valid license to do biz here.

I really like the COD orders with an inflated estimate of value on the order. I have no idea whether it's inflated or not when the order comes in. The order form just goes upside down in the bottom of the file once the basic necessary info is taken from it to log the order in and prior to any info gathering for that file. Every once in a while I'll get a phone call after I've sent the finished appraisal report screaming about why my appraisal didn't match the value wanted/needed. "Must be bacause I didn't pay any attention to that figure and never saw it again after the first glance. Are you now telling me that the appraisal order was actually based upon my arriving at that figure?"
 
Question: The first case sounds like a blatant strong arm of get value or else. TYpically, that is a no-no. Make them take a time out in the corner while you tell the banking commitee and appraisal board about it. But the second case is just some sap looking for free data before they order the appraisal... About all he is guilty of is being stupid, true?
 
Free data would be "could you pull some comparable sales from the neighborhood and send them to me?"

"I need to know if this will appraise...." is a whole different issue.

Dude knows what he's doing.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top