Where Do You Think "geographic Competency" Begins And Ends?

[DWiley]

I have a question - What is the difference, and where is the line, between (1) lacking geographic competency, and (2) simply having not yet met the requirements in SR 1-2 to identify the relevant characteristics?

Suppose, for example, that my subject property is in a neighborhood that I have not been to/worked in for a few months. Obviously, I will have to reacquaint myself (through research and analysis) with what is going on in that neighborhood. What is the difference between what I would do in that situation and what someone who had never been to the area would do?

 

[J Grant]

What does this poll assume- that someone from outside the area is going to physically go inspect the property and neighborhood to personally inspect, no matter if is hundreds of miles or states away?

Or does the poll assume the appraiser is doing it from their desk and not going to the area ?

 

[Eli]

I have a question - What is the difference, and where is the line, between (1) lacking geographic competency, and (2) simply having not yet met the requirements in SR 1-2 to identify the relevant characteristics?

Suppose, for example, that my subject property is in a neighborhood that I have not been to/worked in for a few months. Obviously, I will have to reacquaint myself (through research and analysis) with what is going on in that neighborhood. What is the difference between what I would do in that situation and what someone who had never been to the area would do?

There are certain market factors you already know. Similar to how realtors can be spot on many times but be way off other times. I realize totally that they can be off on purpose because they represent the buyer and/or seller.

That is the reason time is crucial. The competency rule tells clearly how to get competent. It is time.

 

[J Grant]

I have a question - What is the difference, and where is the line, between (1) lacking geographic competency, and (2) simply having not yet met the requirements in SR 1-2 to identify the relevant characteristics?

Suppose, for example, that my subject property is in a neighborhood that I have not been to/worked in for a few months. Obviously, I will have to reacquaint myself (through research and analysis) with what is going on in that neighborhood. What is the difference between what I would do in that situation and what someone who had never been to the area would do?

If you've been to the neighborhood before, and return at a later date, you retain all the knowledge you have from the past. Unless things have changed radically, it's usually a matter of new sales data, not trying to figure out what is behind the differing prices or marketability factors as a new to area person would. And if things are changing in the neighborhood such as new main access road going in, knowing the area gives you context to analyze the change.

 

[J Grant]

This poll is setting off alarm bells, in the way it is worded and why it is even here.

First we had a "debate" about whether a college education was needed for competency, then soon after there was a "comment" period on it (AQB,) then since not every appraiser agreed college was needed, boom, the college degree was gone, and with it the AA degree, and training and experience requirements were rolled back.

I can imagine, to go along with the pending bifurcated appraisals, the next step is to get rid of geo competency and/or allow reciprocal license ,- so any appraiser can appraise anywhere from their desktop while an inspector goes to the property.

 

[Joe Flacco]

I'm just saying that there are things that local people know about their neighborhoods that is not obvious in the data. Somebody familiar would know the issue that they might have to solve because they observed it in the past. Somebody not familiar might not realize without researching several years of data what is a good comp and what is not. Sometimes only sales on the street and block are good comps. Would someone that is not familiar know that if there are no recent sales on the street / block? I think high probably somebody unfamiliar screws up.

 

[J Grant]

Be aware of where this can lead. Why would a poll allow multiple choices which skews results differently than one choice would? .

I don't see this as a poll just to explore the topic intellectually, it is the first gathering of data that a number of appraisers feel geo competency is not necessary, or not necessary under certain conditions- That can be used to used as evidence to open up a comment period from AQB, like the last period where certain vested interests are strongly motivated to send in comments, which can lead to a roll back of geo competency in practice as a lender requirement or means of selection.

 

[Eli]

Be aware of where this can lead. Why would a poll allow multiple choices which skews results differently than one choice would? .

I don't see this as a poll just to explore the topic intellectually, it is the first gathering of data that a number of appraisers feel geo competency is not necessary, or not necessary under certain conditions- That can be used to used as evidence to open up a comment period from AQB, like the last period where certain vested interests are strongly motivated to send in comments, which can lead to a roll back of geo competency in practice as a lender requirement or means of selection.

Hatch (OP) has me confused. Something has changed in his environment over the past several years. Only he can explain what has changed. He is like a new man. Lol

I liked the old man better.

 

[DWiley]

Be aware of where this can lead. Why would a poll allow multiple choices which skews results differently than one choice would? .

I don't see this as a poll just to explore the topic intellectually, it is the first gathering of data that a number of appraisers feel geo competency is not necessary, or not necessary under certain conditions- That can be used to used as evidence to open up a comment period from AQB, like the last period where certain vested interests are strongly motivated to send in comments, which can lead to a roll back of geo competency in practice as a lender requirement or means of selection.

Wow. You really think George is that devious?

 

[Mr Rex]

Eli and JGrant are using the same brand of tin foil.