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Residential vs. commercial appraisers in the AI in Texas

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Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
There is a bill up in the Texas legislature for full disclosure of all sales. The residential appraisers are generally opposed to it. However, the North Texas AI chapter, which is dominated by commercial appraisers, is supporting it.

They like it because they wouldn't have to pay for commercial sales data and AVMs are not going to be used, at least for now, for commercial properties. The effect it will have on residential appraisers is of no consequence to them.

And that is why the Institute is losing residential members.

Roger Strahan, SRA
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Roger;

Why are residential appraisers opposed to full disclosure?
 

George W Dodd

Senior Member
Joined
Jul 9, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Roger,

I've been screaming the same things for a couple of years now. On several key bills/legislation the AI has NOT be on the side of the residential appraiser. They have written us off.

George W. Dodd, SRA
 

Verne Hebert

Senior Member
Joined
Feb 25, 2002
Professional Status
Certified General Appraiser
State
Montana
I looked for support from AI in 1996? for a grievance filed against a colleague by NWMAR for an undervaluation of a sale.

Chicago AI said, well this is a problem-but most of our members do commerical work.

The next year AI downsized to about 40 % of their existing space. Can imagine why membership is off?

Other associations are doing a fine job in lobby.

I'll say it again. If the MAI designation did not exist, neither would AI.

They can bite me.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Why are residential appraisers opposed to full disclosure?

David, I agree whatza beef? 8O :? 8) Most states are disclosure states and we are not losing residential appraisers. I want independent support for a sales price.

Deed stamps require a sworn legal statement that they are correct. If they are not it is an excellent defense if the facts are different.

If a Realtor lies to you, what do you have as defense? He says $40K, it was really 30K, but in court claims he told you 30K...no documentation. I had a old appraiser tell me to use the assessor's measurements if they were close to my own. "Stands up in court better", the government did it. If there was a "bust" he argued you need to explain why your measurements were different from the assessor.

Data mining of public records might not be stopped :cry: :cry: 8O but I fail to see why residential appraiser feel more threatened than commercial....all things will and do change and it is obvious that data mining or not, automated systems will take a bigger bite of the apple until such time as the economy collapses. and collapse it will.

Please remember that the total money borrowed against residential property today is equal to the total value of all residential property 7 years ago.......can you say b-u-b-b-l-e? :twisted: :cry:
 

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
Simple you all. AVM's won't work in non disclosure states. It's hard to find out what something sold for in a non disclosure state as it is not recorded on the Warranty Deed. In other words, it's noones biz but the buyer and seller. Makes appraisers more difficult, yes, but AVM's job almost impossible.

RStrahan, I respect your hard work to get an SRA. It shows dedication. Anymore, I hate to say it, but I just don't see the value. I've done fine, if not very well, with out it. It means something to you as it very well should. But, I still say you need to make sure it's worth it.
 

Frank Bertrand

Junior Member
Joined
Aug 21, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
But why are residential appraisers opposed to it??

Pa has had full disclosure since 1740. No problems yet.
 

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
Frank, you stated PA has it and no problems yet. TN, where I live, does too. "No problems yet" is the deal. If it does become a problem, full disclosure states like PA and TN will suffer first. Non disclosure states will be last. It's very difficult to dig up data in non disclosure states. MLS is all you got, and if it's very rural, you ain't got nothing. You won't find much, if anything, in the FSBO market.

Admittedly if appraisals will always be ordered, it is much easier to work in a full disclosure state. However, not only for us, it is also easier for AVM's or alternative valuation models. If mortgage lenders/banks go towards AVM's, it will be the non disclosure states that will still need the appraiser. Does this make sense?
 

Frank Bertrand

Junior Member
Joined
Aug 21, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
As a rural appraiser where there are more deer and cattle than people, I do not fear the AVM or whatever as there are no cookie-cutter homes, either farms, cottages, cabins, lake front and such. Half of the sales are MLS, other half private and there is no data mining done yet. type in an address in my counties and you get comps from 100 miles away and even in the next state!!

thus, I figure as long as there is a need for property valuation, there will be positions for good professionals.

Having a general designation helps with assessment appeals, gov't work and such.

IF the business tanks, I'll just collect my military pension, by a RV and go fishing.
 

bobburnitt

Junior Member
Joined
Jan 16, 2002
Roger,

I have said it before and I'll say it again, non-disclosure is a right guaranteed by the Texas Constitution. Going to disclosure is a loss of a RIGHT!!!!!!!!

If you haven't already, PULEEZE write your state rep, your state senator, the governor and the lieutenant governors office. As you know, in Texas, the lieutenant governor's office is more powerful than the governors office.

To take away this right, the legislature will have to vote for it, and then there will have to be a state wide referendum on the issue. If my memory is correct, the legislature cannot take this right, that was provided for us by the founding fathers of Texas, without the people's approval. Trouble is, as long as the people have a 6-pack of beer and a football game to watch on TV, they could give a sh** less.

I always urge people to NOT give up anything to the government without a fight. Once it's gone you NEVER get it back.

The very idea that someone would be willing to give up a Constitutional Right just to make doing a real estate appraisal easier is beyond my comprehension. Anybody that has been in this business for any length of time at all knows that a real estate appraisal is about the most meaningless thing going.

As far as paying for the data, when the data becomes easier to get, the fees will go down to take up the slack. Disclosure won't put a nickel in an appraiser's pocket.

As far as AI goes, they are a perfect example of Parkinson's Law.

BB
 
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