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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Editor’s Note: Regulator and appraiser Larry Disney shows how USPAP is more flexible than many presume, when it comes to reassigning appraisal reports. Dos and Don’ts: Readdressing, Reassigning and Transferring Reports By Larry Disney Real property appraiser licensees often ask, “Can I readdress, reassign or transfer a real property appraisal report?” The answer is “no,”...…
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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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34 Secrets for a Successful Appraisal Practice By Thomas G. McDowell Here are a few things I have learned over the years. I shared them with my trainees when I was in private practice. 1. You have earned the right to join a group of professionals unique in industry with a long and distinct history....…
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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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Enhanced Appraisers Data/Seamless Delivery The Future is Now Flash Gordon, move over. Reality (and technology) have finally caught up with the visionary dreams of many appraisers: a high octane blend of public records and enhanced appraisers data that can be sorted, downloaded and integrated seamlessly into appraisal forms with just a few mouse clicks. The...…
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Editor’s Note: Many appraisers and inspectors see red when their insurance company settles a claim they feel is frivolous. Here’s the story of one inspector who had his day in court – and won. Having Your Day in Court: And Winning! By Todd F. Stevens A few months ago I defended a home inspector in...…
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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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