The New USPAP

[RCA]

I should be more mindful of your knowledge in appraisal theory and not dismiss you as an AVM wanna be. I have often thought we could come to an agreement on at least one matter, but then we would both be wrong. I praise you on your many years of experience. Intelligent thoughts have always followed you, but you are faster.

I don't think you know what an AVM is. I am not an AVM. I am just like other appraisers, only:

1. I review the MLS and other data, making corrections that I can efficiently make. I may even spend a day gathering new data that doesn't exist anywhere else.
2. I use MARS Regression instead of Linear or Multi-Linear Regression. That means I will almost always get higher R2 values, such as 70% instead of 40%.
3. I use R to do a lot of the statistical work with Excel spreadsheets - but have to go into modify the R for each appraisal.
4. I use correct mathematical constraints, so all of my adjusted sale price values are as they should be: Exactly identical.
5. I measure accurately, including wall thickness, and use Chief Architect software for floor-plans.
6. If there has been recent construction I check for permits and inspections. I will also check any existing history on building permits.
7. I check the usual public records for title and so on
8. I do make clerical mistakes if pushed to get some time-consuming report by some required date and regret it later.

AVMs process thousands of properties at a time and often use black box statistical methods such as Random Forests, which do not provide models based on the different contributing factors to value. They rely largely on averages for variables that don't have measurement data such as condition, quality and so on. So, AVM results are largely for properties that are in average condition and built with average quality for the neighborhood - unless there is some statistical indication otherwise. They are getting better - but are still pulled to the center of value because of averaging what they do not know. Nowadays, AVMs may be given inspection data for a subject property which improves their estimates. But most likely they will have very little of that inspection data for the hundreds of comparables that go into their calculations.

 

[andrew81]

I often reply to idiots, not because I appreciate their intelligence - it is just an excuse to write something for the exercise of writing something. And it's a way of putting the idiots to some constructive user, - I suppose.

Well, yes, come to think of it maybe they aren't really idiots, at least not all of the time. But they sure don't try very hard to be otherwise.

Can you define superiority complex?

 

[RCA]

Can you define superiority complex?

For an objective definition I asked ChatGPT and it said: "A superiority complex is a psychological defense mechanism in which a person believes they are superior to others in order to mask their own feelings of inferiority. This can manifest as an exaggerated sense of self-importance, a need to constantly prove oneself, or a tendency to look down on others. It's important to note that a superiority complex is different from healthy self-confidence, as it often involves denying one's own vulnerabilities and can lead to interpersonal difficulties."

I am just very aggressive. I also tend to get in fights with people stronger than me and there have been times, for example in my younger days in the Army a little to reckless from drinking too much and got into a fight with a boxer with significantly longer arms than me. His gang pulled him away from the fight because he was finally getting tired and I was such a bloody mess, --- it all spelled trouble. Well I'm a marathon runner (or at least used to be for many years) - I don't get tired that easily. My old Japanese boss classified me as a Samurai. Although truth be told, I lack the physical coordination to be a typical Samarai with a razor sharp sword. --- I suppose though I make for that weakness by trickery and being good at designing traps. There's more than one way to kill the enemy.

You are boring - you sound like the typical - and I do mean typical - member. So, I'm not really talking to you. I'm just rambling ....

 

[Tom D]

ahhh, ninja regression sword with smoke screen.

 

[George Hatch]

So how often is actual fraud uncovered? 99% of the time, it's poor development of comps, poor selection of comps, not using land sales when they are available, or say missing a pool in the back yard on a comp. Is that "lying", "cheating", or "stealing"?

Look at how many revocations your state has issued in the last 10 years - ZERO - and tell me that your state's appraisers should be paranoid about how your state board has been operating. IRL your state has received plenty of complaints about misconduct and some of those complaints have a basis in fact. Meanwhile, nobody has had their AR appraisal license revoked for any reason over the last 10 years. Let alone as a result of being persecuted for making a technical error or as a result of overly subjective differences of opinion.

 

[andrew81]

You are boring - you sound like the typical - and I do mean typical - member. So, I'm not really talking to you. I'm just rambling ....

Not liking me or thinking I'm stupid is ok. You are allowed to have an opinion and not like an individual. But it's comments like this where you say everyone is below you, that makes you an acehole. The only reason you come here is to inflate your ego. You do not provide anything of assistance or opinions beyond telling everyone they are stupid and your appraisal model will replace us.

 

[Terrel L. Shields]

Look at how many revocations your state has issued in the last 10 years - ZERO - and tell me that your state's appraisers should be paranoid about how your state board has been operating. IRL your state has received plenty of complaints about misconduct and some of those complaints have a basis in fact. Meanwhile, nobody has had their AR appraisal license revoked for any reason over the last 10 years. Let alone as a result of being persecuted for making a technical error or as a result of overly subjective differences of opinion.

Our state allows you to resign your license in lieu of a revocation and you sign an document that you will not reapply for that license without facing adjudication for that offense. I know 2 people who did that. ..and they deserved their fate. So surrendering your license stops the revocation process...I doubt anyone has ever attempted to reapply.

 

[Dublin ohio]

Samarai with a razor sharp sword

It's spelled Samurai

 

[George Hatch]

Our state allows you to resign your license in lieu of a revocation and you sign an document that you will not reapply for that license without facing adjudication for that offense. I know 2 people who did that. ..and they deserved their fate. So surrendering your license stops the revocation process...I doubt anyone has ever attempted to reapply.

6 surrenders over 10 years. 0.6 surrenders per year. They gave up before the board even got through their process. Also not an obvious indication of an overly subjective or aggressive board.

 

[Terrel L. Shields]

6 surrenders over 10 years. 0.6 surrenders per year. They gave up before the board even got through their process. Also not an obvious indication of an overly subjective or aggressive board.

Not since they got pounded by the lawyer-attorney and actually had to pay him $4,000. But you literally can resign during the meeting with the board. But I suspect they knew they were caught and knew they had fudged and knew the consequences. One case was clearly fraudulent as well as racist (he claimed Hmong farm buyers were not well-advised, then proceeded to use a farm sold by a guy named Lee...who happened to be not only Hmong but a Real estate agent who was recruiting buyers from Minnesota to buy farms and he owned one or two himself.) The guy got hammered on the stand. Then he (was part of a tort lawyer filing of 22 cases) went into MO and the Federal court there had a Daubert hearing and his testimony thrown out - rendering all 22 of the cases moot. Meanwhile 3 of us sent a copy of the report to the state investigator and that's when he surrendered his AR license. (Home license was OK) So he got to keep his OK license but cannot practice in AR nor MO anymore.