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

[Joe Flacco]

I'll just end with this. Taking the appraiser out of the local market is not good for and does not promote public trust.

 

[Meandering]

And there it is.
No value to national licensing when appraisers have to be geo-competent and can’t accomplish that over the internet.

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[George Hatch]

I don't understand why you keep referring to national licensing. Explain?

 

[timd354]

The bechmark needs to be 100% no?

No, the benchmark needs to be competency to appraise the property that the appraiser is appraising. Flacco, I doubt that you are competent to appraise 100% of the residential properties in your own home market and I would assert that that is true for most appraisers.

Do you appraise across the river in McLean? I know that Merrywood (Jackie Kennedy's childhood home) over there was listed for sale for $49.5 million dollars last year....that is in your local geographic area and I would bet that you are far less competent to appraise that property than you would be to appraise most of the homes in George's area, assuming you had access to the MLS and other needed data sources in George's market

 

[timd354]

I don't understand why you keep referring to national licensing. Explain?

The ol' red herring....it is funny how neither you nor anyone else in this thread made any argument that there should be national licensing, but she keeps bringing it up.

 

[Joe Flacco]

No, the benchmark needs to be competency to appraise the property that the appraiser is appraising. Flacco, I doubt that you are competent to appraise 100% of the residential properties in your own home market and I would assert that that is true for most appraisers.

Do you appraise across the river in McLean? I know that Merrywood (Jackie Kennedy's childhood home) over there was listed for sale for $49.5 million dollars last year....that is in your local geographic area and I would bet that you are far less competent to appraise that property than you would be to appraise most of the homes in George's area, assuming you had access to the MLS and other needed data sources in George's market

That's a obvious outlier type of property that a person unfamiliar with the area would know to avoid. That said I would not be uncomfortable appraising that property based on the data that I am aware of, past assignments and data and info I have collected doing those past assignments. I would quote that property.

 

[timd354]

That's a obvious outlier type of property that a person unfamiliar with the area would know to avoid. Hopefully most appraisers familiar with the area would know to avoid it too, but I see reports all the time from appraisers that were obviously not competent to appraise a particular property, and almost never does the lack of competency have anything to do not being geo-competent.
That said I would not be uncomfortable appraising that property based on the data that I am aware of, past assignments and data and info I have collected doing those past assignments. I would quote that property.

You are the one that stated that the measure of geo-competency should be the competency to appraise 100% of the properties in a given area, not me. I was just making a point to show how silly that that suggested benchmark is.

 

[Joe Flacco]

You are the one that stated that the measure of geo-competency should be the competency to appraise 100% of the properties in a given area, not me. I was just making a point to show how silly that that suggested benchmark is.

I am just saying that out of 100 assignments 75% good appraisals is not right. It should be 100%. That's all I am saying.

 

[timd354]

I am just saying that out of 100 assignments 75% good appraisals is not right. It should be 100% or close. That's all I am saying.

That should happen as long as the appraiser walks away from the properties that he or she lacks the competence to appraise regardless of the property's location. Most appraisals that are messed up are not messed up because of geo-competency issues....when honest appraisers make a bad mistake, it is usually because they bit off more than they can chew in their own local market

 

[Joe Flacco]

That should happen as long as the appraiser walks away from the properties that he or she lacks the competence to appraise regardless of the property's location. Most appraisals that are messed up are not messed up because of geo-competency issues.

I don't want to keep arguing with different people about the same thing and repeat everything over and over.. We'll just have to disagree on this topic. Which is fine. Everybody has their opinions.