Significant Appraisal Assistance (1004p)

[ramrcdk]

Well, I sometimes do use rhetorical questions in order to prompt you to think. See, I have no intention of attempting to tell you or any other appraiser what to think. I expect you to come to your own conclusions.

 

[J Grant]

They will get good one hopes at the rote aspects but will never be able to replicate the same decision process an appraiser would make onsite what to include/exclude focus on etc. But I suppose nobody cares on user end so a moot point.

It will be an ideal gig for UBER drivers, esp UBER EATS food delivery- they are out anyway driving around - though they might end up deliverance a pizza to the subject property and photographing the house who ordered a pizza- no biggie nobody cares everyone just frantically dashing off their robo portion to meet a deadline.

 

[DWiley]

Perhaps some AI-enabled inspection apps they could download to their phones.

Not far fetched. I have seen demos of some systems, and I can tell you that the output puts appraiser data/sketches to shame Fannie shared an example of that at the ACTS. I think most of the appraisers in the room were shocked.

 

[J Grant]

Not far fetched. I have seen demos of some systems, and I can tell you that the output puts appraiser data/sketches to shame Fannie shared an example of that at the ACTS. I think most of the appraisers in the room were shocked.

Appraisers could use that app/tech not just non appraisers . If it improves inspection or sketch result.

But a below grade improperly includes as sf above grade- the app can't correct that , can it? IT would just do a more polished job of sketching the misinformation?

 

[Michigan CG]

Might soon see a number of appraiser dropping appraisal incenses and joining ranks of carefree inspectors who data collect.. less stress no liability. Mindlessly drive one house to the next, jot notes take photos, run a tape or laser, upload. Simple simony work for a Simple Simon appraisal lite!

They won't be making $50-$100/hour.

 

[George Hatch]

If all someone did was drive around and perform inspections, I wonder how many of those reports they could complete in a day? Maybe 4/day so long as there wasn't a lot of driving involved? That's 20/week or 80/month or 960/yr. At $50/ea these workerbees would be making $48k/yr working however many hours it took to complete 4 reports a day.

My county booked 35,526 single family sales through the MLS in 2018. If 1/4 of them (8,881) were appraised via this program that volume could possibly be covered by as few as 10 inspectors, each working different parts of the metro areas of this county. If the metro areas of the county were divided into quarters and each quarter was divided by half geographically the inspectors working those areas would never be more than about 20 minutes away from one property to another, and both halves of each quarter could be covered twice a week by one inspector.

They could finish and upload their reports while they're still onsite.

San Diego County is the 5th largest county by population in the United States. Not counting the appraisers who come in from out-of-county we have just under 600 SL/CR appraisers. Theoretically it's possible that as few as 20 of them could handle the inspection volume put out by 10 inspectors completing an average of 4/day.

Suffice it to say that the future for most appraisers may not involve the widget assignments. .

 

[Eli]

That's a user decision which - from an appraisal standards perspective - Fannie or any other type of lender could have made 30 years ago.

Same as when the lenders decided they didn't want to deal with appraisals performed by trainees with their supervisor checking the "did not inspect" box. Or when some of the lenders decided they were going to stop accepting appraisals from appraisers licensed at the lower SL level. In both cases they did it - over the appraisers objections - because they could. The market conditions enabled them to do it.

Can you give a definition of the "user" in your comment? Please be specific? Is it the ones who fabricate?

 

[Eli]

"User". a person who manipulates others for personal gain.

 

[George Hatch]

Can you give a definition of the "user" in your comment? Please be specific? Is it the ones who fabricate?

"Intended user", of course. What other type of user would be relevant in an appraisal standards discussion?

 

[Eli]

"Intended user", of course. What other type of user would be relevant in an appraisal standards discussion?

Lol. Can you be specific in the "intended user"? Is it the person who manipulates others for personal gain?

Your better than a barrel full of monkeys. I'm sure it is not for those who fabricated things like loan documents.