This is a pretty niffty detailed chart for finding time adjustments, we are done.

[CGinMN]

This tells me AI is paying starting to pay attention to comments on forums. It is good for appraisers to read these studies and provide feedback. Wish they would have provided a prompt response to Freddie’s research note, which contains numerous issues explored here and elsewhere.

 

[Surf Cat]

This tells me AI is paying starting to pay attention to comments on forums. It is good for appraisers to read these studies and provide feedback. Wish they would have provided a prompt response to Freddie’s research note, which contains numerous issues explored here and elsewhere.

If an AI model was ran here on the AF and only here, without considering any other sources such as articles and texts from the Appraisal Institute or USPAP for example....the processor would melt and fail.

 

[Tom D]

Well, why not monthly time adjustments. We have ansi 1/10th for the anal measurers. Once you accepted that 'perception of perfection', which doesn't exist, then you now will be trained to accept the new time adjustment 1/12th.

Every adjustment is now becoming mechanical, so why do they need us. To have us get the bugs out of the new upcoming avm system, for now.

 

[J Grant]

Well, why not monthly time adjustments. We have ansi 1/10th for the anal measurers. Once you accepted that 'perception of perfection', which doesn't exist, then you now will be trained to accept the new time adjustment 1/12th.

Every adjustment is now becoming mechanical, so why do they need us. To have us get the bugs out of the new upcoming avm system, for now.

Agree with your sentiment.

Though I would not say every adjustment is now becoming mechanical, the stakeholders would like to see them become mechanical or computer-driven, so they could thus further devalue the expertise of the appraiser.

Data-driven results require a larger set of sales, which is good for a general trend but less relevant to a smaller set of most similar sales ( the comps.) In the effort for a superficial show of "accuracy," charts, grasp, and statistical overlays are imposed on a messy and imperfect market.

The problem is a statistical method will prove itself mathematically "correct" within its own parameters, which they can point to as being more precise and accurate - but that false precision may not reflect the way buyers and sellers really behave in the market - which is supposed to be the foundation of appraisal methodology.

 

[DTB]

I have a serious question seeking serious answers. I am an old timer but not an old time appraiser, having started Y2K. There was appraising pre licensing, then came licensing, USPAP etc. Then came all of the photo requirements, interior, side yard, street both ways, toilets- seat up, seat down-, then UAD, ANSI, bifurcated appraisals detailed time adjustments...I'm sure I missed a few "enhancements".

Does anyone think that appraisals have gotten better, more accurate, more reliable?

 

[Non Sequitur]

I have a serious question seeking serious answers. I am an old timer but not an old time appraiser, having started Y2K. There was appraising pre licensing, then came licensing, USPAP etc. Then came all of the photo requirements, interior, side yard, street both ways, toilets- seat up, seat down-, then UAD, ANSI, bifurcated appraisals detailed time adjustments...I'm sure I missed a few "enhancements".

Does anyone think that appraisals have gotten better, more accurate, more reliable?

I don't believe appraisals or appraisers are more accurate. BUT the desk jockeys think otherwise, as evidenced by the "What about the whales" attitude.

 

[Terrel L. Shields]

Does anyone think that appraisals have gotten better, more accurate, more reliable?

FNMA says they are worse, right? The short answer is that if the data from the 90s could be analyzed i would bet the margin of error has changed very little and certainly so little as to be insignificant in creating valuations that are saving anyone money by rejecting over-priced properties.

 

[Joe Flacco]

It has definitely improved since the 90's. If it hasn't, that means appraisers have not changed their processes to use the information we have now versus what we had before.

 

[Terrel L. Shields]

t has definitely improved since the 90's

Really? I don't see it. For a long time I ran a file called "How am I doing" and when a property sold that was NOT listed that I had appraised within the previous 3 years, I made a market adjustment then compared to my own appraisal. Most were reasonably close with only a few higher than 10% after time adjusting. I did that for residential and farm properties. Close counts in horseshoes, hand grenades, and appraisals. No one can nail 100% of actual sale price with any consistency.

 

[DTB]

It has definitely improved since the 90's. If it hasn't, that means appraisers have not changed their processes to use the information we have now versus what we had before.

Don't know about that Joe. Are stock pickers better now too? I don't think so.