The New Appraisal Industry

[TerryRohrer]

As for the wife, I suggest "not" getting a new coffee maker for her on Valentine's Day... I don't think that would go over too well.

Turns out a new coffee maker would have been overkill. The boss came home yesterday and said, “Happy Valentines Day” and handed me a new toilet valve.

 

[Terrel L. Shields]

Don't fret if you don't have a Valentine for Valentine's Day. You didn't have a groundhog for Groundhog Day did you?

 

[jay trotta]

But but but....USPAP establishes that an appraiser "must" develop and communicate "a credible" opinion of value based on thorough research, analysis, and adherence to recognized appraisal methods.

The Appraiser "must" follow USPAP , PDC does not....yet appraiser "must" provide a credible opinion and value "based on" thorough research and analysis.....by the PDC....whom doesn't follow any guidelines.... Quite the conundrum....

I understand everyone here that's been doing this long enough can look at the data, without going to the subject, without driving the comps, can get pretty close forming an opinion of value.

The above said, how many times have you all set the appointment, have the comps picked out, have the appraisal form partially filled, and have a pretty good idea what the value is going to be.... then, completely changed your mind after inspecting this subject and driving the comps? This has happened to me a lot in the past. I'm in Los Angeles county, it's amazing what people do to their homes.

I agree and if You don't walk thru the dwelling, how do You determine the credibility observed by someone else you know nothing about??

 

[djd09]

The Appraisal Foundation (TAF) and the Appraisal Institute have spent significant funds on lobbying—$1.4 million over four years, according to one report—though their stated purpose is to support the appraisal profession.

who and why is TAF lobbying...obviously it is not for the independent appraiser or public trust

 

[chad hampton]

There’s a reason the appraisal inspection is considered significant appraisal assistance.

 

[Surf Cat]

who and why is TAF lobbying...obviously it is not for the independent appraiser or public trust

Hold on there Robot Dude....

Our role is to develop and maintain standards of excellence that regulators can enforce to protect the public trust and strengthen the profession. We work closely with government agencies, regulators, and stakeholders to ensure that valuation practices remain consistent, independent, and in the public interest.

Sounds like the Somali daycare centers in MN..... that don't watch any children.

 

[RCA]

Power politics, all about pushing and shoving to get your way. Appraisers apparently don't have any pull. Why? Well, for example, the leadership of the appraisal organizations are people who, as it turns out, are just more of the same (concerned about themselves rather than the good of the country). It's the large lending and AMC organizations with money running everything.

You have to find leaders who care, and present them with well-structured, convincing arguments to change the way things are done. The vast majority of appraisers can't put together a convincing argument—it is just not that easy. Any convincing argument would have to show a critical advantage to the American Public, to the Voter. The AMCs and lenders are just too slick with their arguments, charades, and so on for appraisers to deal with.

It's too late now. You are engaging in wishful thinking.

 

[Surf Cat]

Power politics, all about pushing and shoving to get your way. Appraisers apparently don't have any pull. Why? Well, for example, the leadership of the appraisal organizations are people who, as it turns out, are just more of the same (concerned about themselves rather than the good of the country). It's the large lending and AMC organizations with money running everything.

You have to find leaders who care, and present them with well-structured, convincing arguments to change the way things are done. The vast majority of appraisers can't put together a convincing argument—it is just not that easy. Any convincing argument would have to show a critical advantage to the American Public, to the Voter. The AMCs and lenders are just too slick with their arguments, charades, and so on for appraisers to deal with. The appraisal system has been fed for decades by cheap trainees, some of the dumbest people on earth. I could only laugh back in the early 2000's when the head of some large appraisal organization in the South Bay said he would hire me as a Data Analyst, but not as an appraiser, when if that was what I wanted to do, I could easily make $120K+ with a Fortune 100 company doing better.

It's too late now. You are engaging in wishful thinking.

Pretty much agree with everything with the exception of "some of the dumbest people on earth" quip.

 

[djd09]

Hold on there Robot Dude....

Our role is to develop and maintain standards of excellence that regulators can enforce to protect the public trust and strengthen the profession. We work closely with government agencies, regulators, and stakeholders to ensure that valuation practices remain consistent, independent, and in the public interest.

Sounds like the Somali daycare centers in MN..... that don't watch any children.

bunton quit for a reason...got tired of selling us out

 

[George Hatch]

There’s a reason the appraisal inspection is considered significant appraisal assistance.

No it isn't.

Going back to the beginning - and many years prior to this issue - when my state was actively counting "assisting" as part of their experience criteria, their definition of assistance explicitly laid out that in order to count the work had to go beyond measuring or taking pics or doing the research. In order to count as "assisting" they had to perform at least 75% of the work in the assignment. Analyses, opinions and conclusions.

Of which these PDCs perform 0%. They don't analyze anything. Taking inventory is not an analysis, and even if it was the appraiser cannot appraise the property without doing their own analysis of the information and forming their own opinions.

If I'm reading your appraisal report with the intent of forming my own opinion of value I have to first form my own opinions about the property before I can select comparables and make comparisons and reconcile for value.. Even if I agreed 100% with your analyses, opinions and conclusions, my opinion is still my opinion - not your opinion.

You have never credited another appraiser with providing "significant appraisal assistance" as a result of reading their report, even though they DID perform their own analyses, opinions and conclusions. You may or may not have disclosed your use of the info but mere disclosure of the data source doesn't amount to counting the appraiser with "assisting" you in your assignment.

TLDR, if you saw it and agreed with it then your agreement is your own opinion. Not someone else's opinion.