REO Addendum. Sitting through one class was a wake-up call.

[Don Clark]

Sherrif,

There is no such thing as a:

With each summary narrative we are providing(you're statement).

There is a summary, which by it's very nature is not in a narrative format.

Secondly, as a USPAP Instructor myself, I find it troubling that another USPAP Instructor(taking your word for what she said), would make such statements. I would hope that she will have lot's of data and a good USPAP referrence when she goes before the state board in Texas to justify her complaint against another appraiser for what she perceives to be correct. You might wish to read FAQ # 104 on page F-48 of the 2008-2008 USPAP publication.

"An appraisal must be numerically expressed as a specific amount, as a range of numbers, or as a relationship(e.g.not more than, not less than) to a previous value opinion or numerical benchmark(e.g.,assessed value, collateral value)".

If you have opined a finding of market value(expressed as a specific amount) then you could, with adequate explaination from the same data sources, express other opinions or amounts within the same report.

And, I certainly agree with the statements of Brad Ellis in this matter.

 

[CANative]

There is a summary, which by it's very nature is not in a narrative format.

Huh? I think you mixing labels with formats. Narrative report versus form report. Both can be restricted, summary or self-contained (in theory).

 

[EVAUSA]

I like putting my REO listings on as comps #4 - #6, it helps me work out my time adjustments and quick sale value. If my sales adjust from $250-$260K and my actives adjust from $240K - $250K, my first value is usually around $250 and the 60 day value is at $240K. I say grid them, it really paints a nice picture!

 

[Webbed Feet]

To All,

Enforcement actions are detailed starting on page 12.

http://oregonaclb.org/media/Spring2008Newsletter.pdf

Webbed.

 

[Doug Wegener]

No more licensed appraisers

To All,

Enforcement actions are detailed starting on page 12.

http://oregonaclb.org/media/Spring2008Newsletter.pdf

Webbed.

I noticed Oregon will be doing away with Licensed appraisers in 2010

 

[Ariba]

To All,

Enforcement actions are detailed starting on page 12.

http://oregonaclb.org/media/Spring2008Newsletter.pdf

Webbed.

Most informative and best newsletter I have read. Other states could learn a lot on how to communicate with theirr appraisers and keeping them informed. Lots of good information that appraiser could use.

 

[Don Clark]

Huh? I think you mixing labels with formats. Narrative report versus form report. Both can be restricted, summary or self-contained (in theory).

I could care less about forms. The word Summary means to summarize. The word Narrative implies that you have described something in much more lengthy detail than in a summary.

Advisory Opinion 11 gives very clear examples concerning these terms as well as the State. This is page A-25 of the 2008-2009 USPAP handbook. Describe which some refer to as a narrative formet has an example of Zoniong which takes almost an entire page. Summary is a paragraph with the same information summarized. State is shown as a sentence. A summary appraisal report is not in a narrative format regardless of whether it is a form report or not.

 

[Lawrence R.]

I could care less about forms.

Not to nitpick Don, but if you COULD care less about a topic, that implies that your level of caring is high enough that if properly motivated, you could lower it...meaning you DO care about forms.

I think the phrase that you(and about 97 million other people) are reaching for is:

I COULDN'T CARE LESS.

Sorry, this is one of my crusades in life. That and people who call it the ATM machine.

Back to your much more important discussion...Thanks.

 

[Don Clark]

Not to nitpick Don, but if you COULD care less about a topic, that implies that your level of caring is high enough that if properly motivated, you could lower it...meaning you DO care about forms.

I think the phrase that you(and about 97 million other people) are reaching for is:

I COULDN'T CARE LESS.

Sorry, this is one of my crusades in life. That and people who call it the ATM machine.

Back to your much more important discussion...Thanks.

I never resent a good play on words, or a correction in vernacular.

 

[Doug Smith SRA]

Point?

To All,

Enforcement actions are detailed starting on page 12.

http://oregonaclb.org/media/Spring2008Newsletter.pdf

Webbed.

Exceptional newsletter, no doubt. Who is Larry Green? Article on Declining Market Designations and Market Forecast Analysis is required reading. Also Excess or Surplus Land article was exceptional.

I scanned the enforcement actions. Scary... $60,000 fines? Bout time someone got serious. Was delighted to see a well known hotel consultant picked up for not having a temporary appraisal license. Wish Montana was as strict. I get calls for comps and many don't think they need a permit to appraise in Montana.

The abandonment of license level very interesting. More states will follow no doubt. I am beginning to think that was the intention of the AQB.

But, what is your point....? We should fear the Tracy Martin types if we don't grid the lines on the REO addendum?

Thanks for the link to the newsletter. You would serve everyone well if you posted the link on the Education Forum calling attention to some of the information. I am alerting Brian J. Davis and Ann Rourke about the Larry Green articles.

Thanks for the link...

Doug