ADVISORY OPINION 18 (AO-18) This communication by the Appraisal Standards Board (ASB) does not establish new standards or interpret existing standards. Advisory Opinions are issued to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems. SUBJECT: Use of an Automated…
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Pennsylvania Case against AVMs (an Appraiser’s Summary of the Decision) by Tim Vining FIDELITY NATIONAL INFORMATION SOLUTIONS, INC., MARKET INTELLIGENCE INC., AND PENNSYLVANIA BANKERS ASSOCIATION, PLAINTIFFS v. GEORGE D. SINCLAIR, et.al., Defendants CIVIL ACTION NO. 02-6928 UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA DECIDED MARCH 31, 2004 The purpose of this summary…
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Editor’s Note: Tim Vining, MAI is at it again. Vining is the appraiser who made national news by bringing the first appraisal copyright infringement lawsuit. The case settled in his favor. This time he is taking on AMVs. Read how and why below. “Right on to Tim Vining! Please let him know hard-working appraisers support him.” – Eve…
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Lender Pressure: Solving the Problem by David Brauner, Editor Two comments in our Readers Respond section highlight the most serious problem facing appraisers today, and perhaps the best possible remedy. The problem is lender pressure or put a different, far better way – appraiser independence. In his comments about the unfairness of unregulated broker price…
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Lower-Liability Appraising by David Brauner, Editor According to John Harris, appraising machinery and equipment is USPAP-compliant appraisal work that offers more opportunity and less liability than appraising real property. “The clients for these appraisals are not mortgage brokers/lenders, so the first thing our graduates tell us is that they are so happy to be doing…
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Editor’s Note: The following Q&A about how to report a crooked floor in the face of pressure (from a crooked lender), demonstrates what a powerful tool a good Scope of Work can be in deflecting pressure, limiting liability and producing more professional reports. Scope of Work Q&A: Deflecting Pressure, Reducing Liability by David Braun, MAI,…
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Doing it Faster and Better By Rick Foos, SRA Here is something we appraisers know all too well: because we sell our opinions of value, our income is limited directly by how many appraisals we can complete in the hours in a day (time is money). So how do we give ourselves a raise? By…
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Editor’s Note: As a new source of business, supplying Cost Segregation Studies for accountants, really adds up, according to appraisers Guy P. Reese, MAI and Kevin Cavasos, CMI. Learn why below. For more specifics on how these studies are prepared along with background, Cost Segregation Studies: Background. Cost Segregation Studies Why Working with Accountants Adds...…
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Editor’s Note: After 25 years of serving the appraisal industry, Bradford Technologies CEO Jeff Bradford introduces a new online community for appraisers designed in the belief that there is strength in numbers. Brave New World for Appraisers: Welcome to AppraisalWorld™ By Jeff Bradford For the last 25 years, Bradford Technologies has been selling software and...…
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Editor’s Note: Appraisers can combine their expertise with technology to compete and beat AVMs, according to appraiser and Zaio Chief Executive Officer Thomas Inserra, SRA. Read his thoughts below. Out-Competing AVMs by Thomas Inserra, SRA Appraisers don’t have to accept the continued loss of business to AVMs. They can compete for the business and win…
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