Appraising Disasters: When the Levee Breaks Part II: Real Work Begins By David Phillips, SRA As the date for the inspections drew closer, we enlisted the help of the Village Clerk. She was an invaluable partner in the process because she had addresses and phone numbers for most residents. After the flood, many residents went...…
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Editor’s Note: The following is excerpted from a freewheeling online discussion among appraisers about AVMs. It makes for interesting reading: if you want to know about something – ask an expert. AVMs: Ask an Expert(s) Just what is “Value” Anyway? – Since accuracy is determined by sale price, how can an AVM not be the...…
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The Apprentice: Trainees Gone Wild? Just like the popular television show staring Donald Trump and a band of would-be executives, the reality of training appraisal apprentices these days involves more drama than you might expect. Recent legislation in Florida, a decree by The Appraisal Foundation (TAF) and horror stories of appraisal “sweat shops” churning out...…
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Fraud, AVMs and Fannie’s New Forms Report from Valuation 2003 While you were busy appraising, Valuation 2003 took place in Orlando, Fla. with many of the industry’s movers and shakers exhibiting, speaking and networking. Working RE Magazine was there too. Mark Simpson, Director of Property Valuation Standards & Practices, Single-Family Credit Administration, for Fannie Mae...…
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Truth about Coming In Low By Larry Cole In my market, if an appraiser comes in below the contract price he/she has 10 times the work to defend the low value. When this happens, the appraiser is assaulted by the lender, agents and the seller. (Seldom do I hear from the buyer.) If I’m low...…
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Editor’s Note: With the spate of hurricanes, floods and fires, disaster work is on the minds of many. Here is a first person account by one appraiser who spearheaded the valuation of an entire town that was swept away in a flood. Appraising Disasters: When the Levee Breaks By David Phillips, SRA Before August of...…
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Editor’s Note: One in an occasional series of shared stories designed to bring a fractured and diverse appraisal community together in the pages of Working RE Magazine. Appraiser Slice of Life: Full Fees, No Bull John Hoffert and Bruce McMahon have several things in common besides their love of appraising. They don’t slash fees to...…
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Why You Should Care about Appraiser Qualifications Significant Changes Proposed By George Hatch The proposed revisions to the Real Property Appraiser Qualification Criteria include significant increases in minimum education requirements and appraiser trainee supervision requirements. Some of these revisions will have long-term implications on appraisal businesses if enacted. For this reason, even established appraisers should...…
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Three quarters of the way through the year, some appraisers are still unsure about how to deal with the change in reporting requirements that took effect January 1, 2003 (USPAP 2003). Some appraisers are going back three years on the subject and on the comparables; some on the subject only. What’s required? What’s prudent?
In…
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Preparing for Success By C. W. Wilson, GAA/RAA The following quote is enough to make any appraiser reach for the sleeping pills. “The appraisal profession may be dying…Loss of present appraisal markets to other professionals and the demand for non-appraisal analysis which will be provided by firms outside the appraisal industry will limit the appraiser’s...…
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