U.s. Regulators Ready To Ease Check On Property Values

[Joe Flacco]

They should just require no college degree for commercial appraisal license. You don't need a college degree do appraise a basic commercial property. Any dummy can do it!

 

[Joe Flacco]

It's about MINIMUM requirements! The minimum required to complete a basic commercial appraisal! No college should be required!

 

[Eli]

It's about MINIMUM requirements! The minimum required to complete a basic commercial appraisal! No college should be required!

Who even needs a commercial appraisal? Lol

 

[Eli]

The worm does turn.

 

[Joe Flacco]

Who even needs a commercial appraisal? Lol

 

[Eli]

I am Bad sometimes. I know it. I hate it. It’s not my plan but commercial appraisers should take heed.

 

[The Bob]

I would be more concerned with this...

The bank regulators are also discussing easing lending rules on rental developments which must currently satisfy the same appraisal standards as commercial real estate.
One idea being discussed would exempt small, new-build rental developments from outside appraisals.
Banks are also pushing for regulators to loosen appraisal rules on home mortgage loans although this may require the blessing of other regulators, the sources said.

As far as commercial, a $500,000 threshold doesn't sound unreasonable considering the the old one is $250,000 and that was back in 1994...24 years ago.

Major apartment developer: 'There is an acute crisis headed our way'
https://www.cnbc.com/2018/02/16/maj...-there-is-an-acute-crisis-headed-our-way.html

 

[BRCJR]

APPRAISALS
FDIC Board Approves Appraisal Threshold Increase for CRE Transactions
The FDIC board of directors yesterday approved a final rule to raise the appraisal thresholds for commercial real estate transactions from $250,000 to $500,000 -- an increase from the original proposal, which called for the appraisal threshold to be raised to $400,000. The threshold for loans secured by one-to-four family residential properties will remain at $250,000; however, residential construction loans secured by multiple one-to-four residential properties would be considered CRE transactions. The final rule must now be approved by the Federal Reserve and the OCC; once approved by the agencies, it will be effective 30 days after publication in the Federal Register.

ABA has long supported an increase to the CRE appraisal threshold, noting in previous comments that doing so would provide immediate relief to banks that are currently struggling with a shortage of certified appraisers -- particularly in rural areas -- and long appraisal turnaround times. Read more. For more information, contact ABA's Sharon Whitaker.

 

[George Hatch]

It's about MINIMUM requirements! The minimum required to complete a basic commercial appraisal! No college should be required!

Bitter much?

The joke's on you. I know a number of CGs who never got a 4-yr degree and who do competent appraisal work. The number of CGs in my state increased by 5% in 2008 ahead of the AQB bumping the academic qualifications criteria for CGs. Given how much more complex the work I do is than what you do, their demonstrated performance only underscores my opinions about how little academic education it actually takes to become proficient at appraising SFRs.

Besides, it isn't the academic education that was the big barrier to becoming a CG; it's the ability to learn the material in the Income Capitalization course well enough to pass the testing for it; that course having a cumulative pass rate of about 55%. (including the retests). Even the ones who do pass the course don't always pass the state test, 'cause (in my state) that cumulative pass rate is also only 60%.

 

[Joe Flacco]

Bitter much?

The joke's on you. I know a number of CGs who never got a 4-yr degree and who do competent appraisal work. The number of CGs in my state increased by 5% in 2008 ahead of the AQB bumping the academic qualifications criteria for CGs. Given how much more complex the work I do is than what you do, their demonstrated performance only underscores my opinions about how little academic education it actually takes to become proficient at appraising SFRs.

Besides, it isn't the academic education that was the big barrier to becoming a CG; it's the ability to learn the material in the Income Capitalization course well enough to pass the testing for it; that course having a cumulative pass rate of about 55%. (including the retests). Even the ones who do pass the course don't always pass the state test, 'cause (in my state) that cumulative pass rate is also only 60%.

1) Your work is not that complicated.
2) It is hard to argue that there are less morons that are commercial appraisers than there are residential appraisers. The difference is qualifications.