Pamela: Why?

[kim grant]

Pamela,

I have always respected your opinions regarding appraisal procedures and practice but I have also always wondered why you are so rabid about bad appraisers?

Every professional field has their good and bad practioners. In my 20 years in this field I have learned a few things, one of them being that appraiser's are an opinionated bunch, have to be in our line of work, but it has always fascinated me that most, if not all appraiser's I know have this need to boost and boast egotistically. You are not the first appraiser I have encountered that boosts your ego by pointing out the "bad" ones, and of course, pointing out the "bad" ones makes you one of the "good" ones. You tend to get over that as you get long in the tooth in this business.

I am sorry if you feel I am insulting in this post but to be quite honest I was insulted by your methodical posting of the names of those "bad" appraisers. We all know where to find those lists if we so choose to satisfy our couriousity or our egos but what does knowing the names of the past do for our future? Those lists are readily available to all users of appraisal products and most of the good clients check them regularly. The are published for that reason.

I do not believe we can improve our profession with finger pointing and getting on our soap boxes about "BAD" appraisers. When we do that, we only lower ourselves and our profession. You won't see that kind of behavior at the State or Federal level. There are procedures for every state regarding the reporting and investigation of faulty appraisals and the appraisers that prepare them, a witch hunt is not one of them.

I happen to believe that most effective tool in reforming our profession is the reformation of the mortgage lender's practice. I believe that appraisals should be assigned by the underwriting departments rather than the loan officers whose commission can be made or lost on the results of the appraisal report. Having the loan officer involved in acquiring an collateral assessment for a commissioned loan is an archaic pratice that I believe will eventually be eliminated. Most of the large, reputable lenders have already moved to having that buffer between the LO and the appraiser and thus---appraisal management companies have become big business.

Our industry has undergone dramatic changes in the last ten years, I believe they have been changes for the better but they were not without a struggle. And the struggle continues, due to reformation of the appraisal industry, this has become a relatively new profession when you think about it. The struggle is not about who is good and who is bad, it's about money pure and simple and I am not talking about the money the LO makes.

For the appraiser working in the trenches so to speak, I believe we can best serve our profession by concentrating our efforts on continually improving our own skills as appraisers and business owners. Yes, appraisal is no longer a "craft" it's a business.

Weed killer, kills everything. Plant fresh grass and it will eventually choke out the weeds.

I don't know how some of you have time to read and post these forums everyday. My office is currently turning 30-40 appraisals a week, I'll be lucky to visit here once a month or maybe that will make some of you feel lucky :wink:

Kim Grant-Matarazzo

 

[Don Clark]

8) Kim,

I for one support, will defend, and promote Pamela 24/7 in her fight against "Bad" appraisers. I am 66 years old. I have been in this business since 1972(Real Estate) and in appraising since 1984. I have seen the real estate business change from a "Profession" to a "Business". The results are not equivilant. I have seen the same thing happen to the appraisal "Profession". It is not a pretty sight. And, I do not mean designated appraisers when I use the term "Professional". I mean appraisers who are honest, use solid appraisal theory and techniques, and would rather lose a client than do a dishonest, misleading, over valued appraisal. I have had the opportunity to teach pre-livcense and CE courses to at least half the appraisers in my area(we have about 200 in a 50 mile radius). I know many personally, and have seen many of their appraisals. I had the opportunity a couple of years ago to do FHA Field Review work until FHA changed the program. In 7 months I did 120 reviews. Of those reviews, they were done by about 50 different appraisers. Of the 120 reviews, no appraiser ever came in below sales price. The average for all was almost 17% above sales price and market value. One designated appraiser came in 100% above sales price and 80% above market value. Many were 20%, 30%, 37%, 50%, above market value. All this was reported to HUD who did nothing about it. Appraisers ignored flaking apparent lead based paint that had flakes as large as dinner plates that was visible from the street at least a half block away. Sagging, deteriorated, roofs that were ready to fall in was ignored. New homes had at least 15 repair items missed by appraiser. A home built for a handicapped lady had no safety rails on a concrete ramp. A shower she could wheel up to and lift herself into a seat for a shower had no way to prevent water from draining from the shower onto the new carpeted floor. An appraiser took photos of the subject very carefully show as not to show a metal tower carrying high voltage lines directly behind the subject and with the subject within the fall line.

In other cases on review I have and will report appraisers that violate the law or regulations of my state. I reported an appraiser who had missed over 1,400 sq ft in a comparable, in another over 400 sq ft, and completely missed finished rooms over garages in all the comparables.

If you do not believe that such work by "Bad" appraisers should be reported, it is you who does not belong in this Profession/Business. It is one thing to be a numbers hitter, and quite another to be an appraiser.

I respect your opinion and agree that it would be better if we did not have commissioned loan officers. It might also be better to not have commissioned real estate sales people. However, most of us live in the real world and realize that just is not going to happen.

As to having time to comment on this forum :?:

Well, just today as an example, with one appointment being cancelled at the last minute, and one VA Foreclosure where no one was home, and it is raining like hell, I have the opportunity to post this message. I usually only do so at night after all the chores are done, and when TV is lousy.

I don't understand your blasting of Pamela. At least she is trying to change a system that badly needs change. What have you done for the "Profession" lately :?:

Don-Clark

 

[kim grant]

Don,

Blasting Pamela was not the intention here, bringing up the point that it is ineffective to blast what we consider to be "bad" appraisers is the point here. Our profession doesn't need to beat it's self up anymore than it already does. Perhaps once you move past your anger at my comments you might consider the content of my comments. I would be much more likely to throw my support behind lobbying for a bill to bring regulation to the lenders side of this problem.

What have I done lately? Oh, I don't know..... I think the best service I have lent to my profession in my 20 years in is to never, ever think I know it all, am all, or that I am the best. I lost the ego a long time ago and it served me well to do so, I continually update and improve my skills as an appraiser rather than concentrate on what my peers are doing.

My first appt. did not cancel today, Ug, it's raining hard too so off I go.....
Have a good day, Kim

 

[Don Clark]

8)

Kim,

I am far from being angry at you. You are like many in the world today who think it is innapropriate to go after the bad guys. Why my goodness, just a little peace and love and we will all be just fine. Wasn't it that great philospher Rodney King who said "Can't we just all get along?" I don't take myself too serious Kim. I know I do not know it all, and I learn something everytime I teach a course, or meet with a group of appraisers, or read this forum. I also know that at least 1/3 of all so called appraisers in business today should have never been given a license. It has become a license to commit fraud, deceit, and will ruin us all if they are not weeded out. So I say to Pam, in the most non sexist way I know how...."You go girl".

Pam, please don't let comments like Kims keep you from your quest. You are the greatest, even if you don't have a hyphonated name :twisted:

Don

 

[Dee Dee]

In my 20 years in this field I have learned a few things, one of them being that appraiser's are an opinionated bunch, have to be in our line of work, but it has always fascinated me that most, if not all appraiser's I know have this need to boost and boast egotistically. You are not the first appraiser I have encountered that boosts your ego by pointing out the "bad" ones, and of course, pointing out the "bad" ones makes you one of the "good" ones. You tend to get over that as you get long in the tooth in this business.

Wow! What a revelation!
So, if I follow you correctly, because you just pointed out that Pamela is a "bad" appraiser for blowing the whistle on "bad" appraisers, then that makes you a "double good" appraiser.
Right? :?
I hope someone puts a muzzle on me if I ever start to get 'long in the tooth'. :roll:

 

[larryhaskell]

Kim:

If your thin skinned, I believe your going to regret ever making this post.

 

[Terrel L. Shields]

Larry is right...!

But I will admit, there are quite a few appraisers I have met who do love to put down their fellow appraisers. I know one who is goody two shoes to their face but stabs them in the back to everyone else. That seems to be a real common thread among many people besides appraisers, however.

My recent post in the Commercial section does bring to mind that I am critical of the report prepared by another appraiser. I blame the USDA in part on the "this is the way we've done it for 40 years" attitude that agency has. Appraisers often adapt their reporting to the agency or bank and not to the real world.

At the same time, I think too many appraisers DO think they know it all when in fact, their work can often be somewhat shoddy by my standards. Prettiest report I've seen was handed to me about 3 days ago. I know the guy. The report is beautiful...but only uses the cost approach, AND derives a value the owner avers was deliberately low because she was a widow getting her property appraised for her husband's considerable estate IRS might be interested in...not to mention that she was quite good looking. Her husband had died after 10 years of agony, then she remarried only to have that one die 14 months later of a brain tumor. It is a sad story and she makes a good victim...except this girl is quite self-reliant and said, she didn't need the appraisal to be low. So she asked me to do it over and she wants to know what the value really is....

We are not doing our jobs when we appraise property on the basis of sympathy or try to give someone what they want. I have probably said and have had many appraisers tell me "I just couldn't quite get it there." Why were you trying to "get there?"

 

[Pamela Crowley (Florida)]

I've given this post/thread some thought since I first found it. Some things are better not to respond to, especially not immediately. We all have to pick our fights and decide how far to take them - or not fight at all. I chose to fight and picked an area where I might be able to actually acomplish something. I would love to go after the lenders, but that is unfortunately not very realistic, especially on a personal level. I did sign the petition and hope all appraisers will. It certainly hasn't harmed me!

Rabid? Possibly in some areas. In doing reviews, I've nailed some to the wall and I've also praised some. I don't knit pick the small stuff such as something that was an obvious typo or missed from cloning. I state those kinds of possiblities for that mistake as long as it's not something vital. What I write about that report is based on the facts in the report and not personal. Verbally, yes I can be rabid when I KNOW what that appraiser really is.

Yes, I push for others to do something. I believe that if we don't find a way to police ourselves, we harm ourselves. It's my personal choice to be an activist. This is America. Everyone else can make their own choices.

 

[Tim Hicks (Texas)]

Pick your fights? Oh, that is what I am doing wrong. I always fall for the bait. I support you Pamela. You never personally attack anyone on this forum.

 

[Bob Ipock]

Pamela,

A rose by any other name would still smell as sweet. Call 'em bad appraisers, crooked, unethical, dishonest, biased....what ever you like. The fact remains that ANY APPRAISER that bows to lender, client, agent or broker pressure to inflate values is my sworn enemy.

We ALL face the same pressure and those of us who refuse to play along suffer. I have no symathy for any appraiser whois caught with his hand in the cookie jar. It is a choice, a decision and a life style. Honesty and ethics are required of appraisers. Those who have none simply need to get out!