Will you prepare the 1004desktop?

[djd09]

yet, i have failed to see you ever quote DW. all in the family, eh?

 

[George Hatch]

Let me put it this way: I met DW 21 years ago, long before he took the job with the AMC or with Freddie. When I met him he was a residential fee appraiser who was getting his feet muddy every day just like everyone else. Actually, when I met him he was *losing* money compared to what he was making prior to getting appointed to the ASB because TAF was paying it's board members less than they could make if spending that same amount of time in their day job. His service on the ASB cost him a lot of income. That's what makes it so ironic when people assume he is profiteering. They don't even know.

As for us usually seeing things similarly with USPAP, I'm not going to lie; I consider DW to be conceptual thinker and a subject matter expert on USPAP. I'm competent, but I'm not in his league. So if I agree with him on something in USPAP that's just me not being wrong about it.

 

[djd09]

remember the dumpster conspiracy i mean pucker up

 

[Alsie35]

When I was in the field, I was THE expert in the Uptown/Oak Lawn area of Dallas. And yet - wait for it - I lived about 70 miles away... commuted every day.

Ditto with me and - Napa County (which was two counties over). But we were the exceptions that prove the rule. I can't tell you how many times I did field reviews on Solano County properties, for example, where the comps were just flat out picked from the wrong areas. And every time it was an appraiser coming in from Oakland or Sacramento.

 

[alebrewer]

Ditto with me and - Napa County (which was two counties over). But we were the exceptions that prove the rule. I can't tell you how many times I did field reviews on Solano County properties, for example, where the comps were just flat out picked from the wrong areas. And every time it was an appraiser coming in from Oakland or Sacramento.

I'm sure that happens, as I'm sure appraisers who live 3 houses down from the subject also are guilty of poor comp selection... at the end of the day, IMO, it comes down to competence, not geographic location.

 

[Alsie35]

I'm sure that happens, as I'm sure appraisers who live 3 houses down from the subject also are guilty of poor comp selection... at the end of the day, IMO, it comes down to competence, not geographic location.

Would you agree that an appraiser who does, say 60% of his work in a particular county, is on balance more likely to know that county better than someone coming in from 2 hours away to do a "hit and run" appraisal?

 

[Bob Ipock]

Two questions for you -

1. I think you are still a certified USPAP instructor and are very familiar with its content. If you feel that inspection of the subject is so critical to credibility, over the years how many times have you asked the ASB to change USPAP to require an inspection?

2. Over the years I would say that I have had the opportunity to examine tens of thousands of appraisal reports, and I have not yet seen one that did not rely on third party data for critical information used in the appraisal analysis, including critical information about the subject property. So, do you plan to continue to use the third party data that you have always used, or are you drawing a hard line and refusing to use third party data at all?

1. None. The ASB is a bad joke. I follow the rules they make.

2. I rely enough of third party information. I have reached my limit.

Every appraiser will make their choice. I have made mine. The report will be inferior to a 1004 inspection and report. Hell, I wouldn't even do drive-bys. When the next crash hits a bunch of folks will wish there had been a so called "full" appraisal, 1004. I did too many foreclosure appraisals where the people could not sell due to being upside down from drive-by and tax card e-line appraisals.

I testified in court this morning and was very pleased to have a report I could explain and show photos that were a big part of it. There is no need for this less informative product. . The borrower pays for the appraisal. Why would any lender or buyer of loans wand anything less than a 1004 when it costs them NOTHING.

Every appraiser gets to decide, I am not trying to decide for them.

 

[DWiley]

Would you agree that an appraiser who does, say 60% of his work in a particular county, is on balance more likely to know that county better than someone coming in from 2 hours away to do a "hit and run" appraisal?

Maybe.

I have seen this go both ways.

I have seen out of area people who use inappropriate sales, don't have the right data sources, etc. etc.

I have also seen the "very local" appraiser who fails to conduct actual market analysis and just goes by "their experience" rather than actual data. I saw that quite a bit in the crisis period - in areas with a history of increasing prices, many appraisers kept marking STABLE or INCREASING long after the actual data showed DECREASING

 

[Mejappz]

Anyone up for a good game of scrabble.

The ASB Wants to Remove the Definition of Personal Inspection

Why is the ASB proposing to remove the definition of Personal Inspection? Several days ago, an appraiser posted the following comment which we have

appraisersblogs.com

 

[djd09]

soon as we get some calicommie appraiser doing work in east cleveland everything will suddenly be worth one million