Voice of Appraisal

[alebrewer]

I never understood the "they want it yesterday" mentality when it comes to appraisals.

On a purchase for instance, the home enters escrow and it needs to go through several checkpoints. Loan processing, Termite, home inspection, maybe a couple repairs agreed upon by the seller and the buyer. Escrow is typically 30 days give or take.

The appraiser gets the screws turned on them to produce a USPAP compliant report in sometimes 24 hours to help gauge the risk of making a sound lending decision.....

It never made sense to me.

And yet...

 

[alebrewer]

Your world appears to be about AMC work - faster and cheaper.

My world involves exactly 0 AMC work.

 

[Joe Flacco]

Experience is super important for geographic competency. Not so important as far as knowing what an adjustment is.

 

[J Grant]

The reason experience doesn't matter is because 'experience' is not a quantifiable term. Some appraisers have 'really good' experience. Some appraisers have 'really bad experience' and most appraisers are somewhere between the two. If you could somehow 'grade' experience, then I might be on board. Sans quantification of the term, however, using 'the appraiser's experience' as a basis for discrete adjustments is meaningless.

We can quantify experience _NO experience means none, as in , an appraiser can use a software tool and produce dazzling, impressive-looking charts, graphs and statistics, yet they have no idea how to apply them or what they mean when correlated in the market. We are seeing ( thank god) UW and reviewers pushing back on the "tools", asking appraisers, who then post here in shock, that their data-rich output is contradictory or not relevant to the market analysis /local conditions. Such as the appraiser who presented 4 past years of data (WTF cares), which showed stable and the UW pointed out the smaller set of data for the relevant subject area showed decline -

Years of experience also can be quanitied - in good or bad results as a pattern - anyone can have an occasional off value but a history of them or of lacking reasoning in reconcilaitn and comp choices speaks to the quality of experience as does if the appraiser has developed over the years, either with more education or an ability to appraise more complex properties ..

 

[J Grant]

My world involves exactly 0 AMC work.

? You work for a lender that uses AMC's...you once emailed me to recommend AMCs for the leader you work for and I replied I can not recoemntd any, and asked why are you not assigning the work direct to an appraiser over a portal such as mercury--

 

[glenn walker]

Can’t imagine he does it for the money. Perhaps he gives a **** about his profession and hates seeing what it’s become? I

He needs someone to get him guests that are interesting to hear their perspectives and a team to upgrade his platform.

A site like his should be generating many thousands of viewers not a few hundred.

 

[chad hampton]

He needs someone to get him guests that are interesting to hear their perspectives and a team to upgrade his platform.

A site like his should be generating many thousands of viewers not a few hundred.

He’s not for everyone, he’s probably too pro appraiser for you.

Sort of like if all the spokesmen for revaa over the years would start a podcast. I would probably find it repulsive too.

 

[glenn walker]

He’s not for everyone, he’s probably too pro appraiser for someone like you.
it wouldve shocked me if you enjoyed his show at all.

No I like pro appraiser but ones who have some power to facilitate change.

Anyone can be Anti AMC or Anti GSE but unless that person has a foot in the door and access to the people who can actually make change their just preaching to the choir.

The one thing appraisers are not good at is adapting to change in a positive manner. Not all change is bad but once the profession closed off dialog with the folks in charge we shouldn't expect to be heard. Another bad trait is we tend to attack the messenger rather than the message and so the folk's on the inside won't come on the forum.

 

[Zoe]

I guess you're pretty sad that Chopra never came through for you.

I am not a big drama person Sir.

 

[Zoe]

With the lawsuits flying, it probably has FTC attention.