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Whether you used the word guess or some other verbiage to expressit, your past posts indicate a dismissal of the appraisal market value opinion as a point value - therefore it is not a surpise you trust a "tool "And I'd argue that it does make it better.Fully agreed that the appraiser should understand the tool. In the absence of understanding, though, I'd trust a tool more than a human. Both opinions, so it's little more than banter amongst peers at this point.
The prohibitions against individual consumers or loan officers ordering, coupled with the lender/AMC interwined aspect of GSE-backed mortgage work, is an artificially created and thus manipulated supply-demand realm which is not typical of the open market S/D that drives other businesses, including the appraisal business outside of this realm. Seems you struggle to understand that !
Of course you're using extreme hyperbole, so I shall as well. If the unknowing appraiser makes a $200k time adjustment when the tool is telling them to make a $2000 time adjustment do you just do that? No questions asked?
They already do - they're called (in no specific order): regression, paired sales analysis, grouped sales analysis, depreciated cost analysis, sensitivity analysis, etc. And for the folks that don't understand how to use these tools, there are indeed programs out there to assist.
Now, had you worded your original post in that manner, as opposed to a dismissive accusation of 'guessing', I'd have responded that I HAVE - on many occasions - stated that, within a well supported adjusted range, no one point value is any more or less statistically accurate than any other point value within the range.
Appreciate your post - will address it tomorrow.Now, had you worded your original post in that manner, as opposed to a dismissive accusation of 'guessing', I'd have responded that I HAVE - on many occasions - stated that, within a well supported adjusted range, no one point value is any more or less statistically accurate than any other point value within the range.
WRT your accusation of me trusting a 'tool', I understand that to take the statement out of context is an attempt to make me look dumb, but here's the statement IN context:
"In the absence of understanding, though, I'd trust a tool more than a human." Point being that quantitative analysis trumps 'experience' in my opinion. I understand that not all share my opinion - and I'd suspect the less someone understands about appropriate methodologies and techniques, the more they'd oppose my statement.
I had the pleasure of a conversation with both; they are very sharp individuals. Their advantage IMO is they weren't burdened with an innovator’s dilemma. I believe that's what gave them the traction to be first, and their backers are pure tech people who helped along the way. While the legacy companies were trying to pound the 3.6 square peg into their software’s round hole, Aivre was able to design around to the needs of 3.6.
Along with these dazzling shortcut auto fill programs - (Unless the GSSE's use them ).
Is your current software solution free? My research has elicited the probability that these offerings will actually be cheaper than current solutions (depending on the offering chosen). I currently pay ~ $2k/year (probably more) for software, mapping, and integration fees. The most expensive version I've seen of the 3.6 offerings is $100/month.
My software is about $1200 a year - the combined expenses is one reason a number of appraisers are leaving the field or considering it - in the face of diminishing orders and no indications of fees rising ( even with direct order clients ) to compensate for the growing assignment demands.