RIP AQB and ASC, to be replaced with "Federal Valuation Agency"

[Sadie]

You might want to research that a little more He has an active CG

His linked in page says he is an umpire and insurance adjuster. It also states he is a property appraiser, which I took to mean not a real estate appraiser. CG's don't make adjustments like Residential appraisers and vise versa. I would not tell a CG how to choose comparables and make adjustments and it should be the other way around, unless the CG is competent in residential.

 

[CGinMN]

He says in the video he cut his teeth doing VA appraisals.

 

[Sadie]

He says in the video he cut his teeth doing VA appraisals.

I didn't watch the video. I think he needs to either rethink the comparable selection comment or re-acquaint himself with residential appraising. Here is the comment - "There is a lot of discretion in how appraisers make their adjustments, how they choose comparable sales, and how they ultimately reconcile to the final value conclusion. We need to find ways to remove as much of that discretion as possible." - James Park, Executive Director of ASC.

 

[CGinMN]

I know, I transcribed that quote in post #5

 

[shrubberyvaluation]

I didn't watch the video. I think he needs to either rethink the comparable selection comment or re-acquaint himself with residential appraising. Here is the comment - "There is a lot of discretion in how appraisers make their adjustments, how they choose comparable sales, and how they ultimately reconcile to the final value conclusion. We need to find ways to remove as much of that discretion as possible." - James Park, Executive Director of ASC.

Does he also advocate from taking away the choices from buyers and sellers what they can buy or sell their homes for. Do they have too much discretion?

 

[Sadie]

I do think that much of the uproar about RE appraisals forget the whole reason for an appraisal is generally to estimate the value of collateral for a mortgage loan. Its not to judge if someone is worthy of getting a loan or how much that loan should be.

 

[Sadie]

I know, I transcribed that quote in post #5

So you did. Do you agree with him then? Or just clarifying his credentials?

 

[CGinMN]

Just providing the facts. I think he is wrong, not because he doesn't know residential appraisal, but because he's just flat out wrong IMO.

 

[shrubberyvaluation]

I do think that much of the uproar about RE appraisals forget the whole reason for an appraisal is generally to estimate the value of collateral for a mortgage loan. Its not to judge if someone is worthy of getting a loan or how much that loan should be.

But we are stealing generational wealth!

 

[Sadie]

But we are stealing generational wealth!

Its someone else doing the "stealing". We should be congratulated for reporting it.