Carnivore
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
I have been completing significant amount of Review Work since the Covid came into play. I do this because it simply is the best way for me to avoid Contact with People I don't know. It does not matter what people tell you, they are all liars or simply won't admit they are bending the Contact limitations. I am not willing to gamble.
I have observed a common pattern in comparable selection; Bracketing of Sale Price at the top of the Grid. In practice/theory its not a bad idea, as long as your actually bracketing Physical Characteristics/Economic Attributes. Twice now this month and one other a few months ago the Appraisers have used that method in their appraisals. The Result is two have over-valued the MV(not significantly). The third one created a lot of unnecessary work for himself., but the MV was good.
So I dug up an old article on this topic. https://appraisaltoday.com/2016/07/21/bracketing-and-USPAP/ This explains it very well.
What I can not understand; Who is teaching them this, or is it the Phone Monkey's using it either on their own or is it some Client desire or demand. It doesn't really matter who is pushing this nonsense. Its just showing up in Appraisal Reports.
I am just blowing off some frustration. This issue and others supports my position that our pre-licensing education/experience requirements has some fairly serious flaws. This also goes in part to Appraiser Independence! It is being compromised.
I feel like I am watching the movie 'Dumb and Dumber' over and over.
I have observed a common pattern in comparable selection; Bracketing of Sale Price at the top of the Grid. In practice/theory its not a bad idea, as long as your actually bracketing Physical Characteristics/Economic Attributes. Twice now this month and one other a few months ago the Appraisers have used that method in their appraisals. The Result is two have over-valued the MV(not significantly). The third one created a lot of unnecessary work for himself., but the MV was good.
So I dug up an old article on this topic. https://appraisaltoday.com/2016/07/21/bracketing-and-USPAP/ This explains it very well.
What I can not understand; Who is teaching them this, or is it the Phone Monkey's using it either on their own or is it some Client desire or demand. It doesn't really matter who is pushing this nonsense. Its just showing up in Appraisal Reports.
I am just blowing off some frustration. This issue and others supports my position that our pre-licensing education/experience requirements has some fairly serious flaws. This also goes in part to Appraiser Independence! It is being compromised.
I feel like I am watching the movie 'Dumb and Dumber' over and over.