Appraisers Blog

FEBRUARY 29, 2024

Should property data collectors who inspect properties & provide information to real estate appraisers be licensed by state appraiser boards?

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Appraisers Blog

MAY 5, 2024

This allows Appraisers to refer to an Inspector for required information about the property’s condition. MS HB1663 is not necessary when there is a licensing body already providing the same information. HUD FHA 4000.1 Condition requiring Inspection by a Qualified Individual or Entity, p.

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Appraisers Blog

MARCH 10, 2024

After all they have been in the business for a long time and know what data an appraiser needs. It is just another way for the government to make more money. I would not be in favor of something like this. But government control is not the answer.

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Appraisers Blog

MARCH 11, 2024

Or one could turn to the local jurisdictions building codes on valid square footage, as the builder reported them to the county, as the county recorded them with the assessors, which the local MLS and sales ages are supposed to be using as the main reference for home sizing.

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Appraisers Blog

MARCH 4, 2024

link] What should a Trainee Appraiser NOT expect from a Supervisory Appraiser? paid benefits while in the training position The AQB requires the Supervisory Appraiser to inspect properties with the Trainee Appraiser until the Trainee Appraiser is competent to make solo inspections. In reply to JohnnyQ. How times change.

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Appraisers Blog

MARCH 4, 2024

That’s a great lender and a smart decision, not not allow an unlicensed trainee to pretend to be a legitimate appraiser and run the inspection by themselves without a licensed supervisor present. In reply to JohnnyQ. Because the lender is putting the consumers well being first.

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Appraisers Blog

MARCH 1, 2024

In reply to Russell. So, you’re saying this is a better career choice than lawn mowing? I’m sorry, I could not resist. Oh wow did you know about this? There is an entire series of lawn mowing patches and vehicle stickers for sale online. Ummmm… Something really important just came up, have to run.

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Appraisers Blog

FEBRUARY 29, 2024

When it comes to measuring, viewing, stating facts I know about a property; I trust me before anyone else. I don’t trust Realtors to correctly measure and report (they use to but now rely on the assessors), assessors (they don’t measure either), blue prints – many areas that shouldn’t be counted are.

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Appraisers Blog

MARCH 1, 2024

Can a trainee make a reasonable living today before they become licensed to get a bigger cut if they decide to say on with the company that trained them? This allowed me to skip licensed appraiser and test for certified appraiser. I do not remember what my percentage of the engagement was because it has been so long ago.

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Appraisers Blog

FEBRUARY 29, 2024

Russell give us a break, he spent too much time, calling up people and asking for their hearsay opinions on unverified data. Use the raw data you have and stop relying on unattributed opinions that are rarely based in fact, but based on peoples memories. Take the raw data analyze it and don’t take third-party hearsay, bad habit!

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Appraisers Blog

MARCH 2, 2024

We should try not to go down that rabbit hole. Howard – I don’t mean to be picky, but value is not calculated by the sf! This like many USPAP guidance will go by the wayside.

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Appraisers Blog

MARCH 4, 2024

In reply to Baggins. Thanks, great feedback. When I first came into the business it was not a requirement for a senior appraiser to accompany a trainee. The state or client required it. Mine did not. The senior appraiser checked they did or did not inspect ect. Yes, some senior lied about it and when the stuff hit the fan they paid for it.

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Appraisers Blog

FEBRUARY 29, 2024

Ok Dave, not on a high horse. I never told you or anyone else what to do or how to do it. I simply shared what I do and why. Take from it whatever you please or not. I never attacked your ability or told you or anyone else that you were doing anything wrong. I do not apologize for how I run my business.

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Appraisers Blog

FEBRUARY 29, 2024

Would the Property Data Collectors then be held to the ANSI standard of measurements which Fannie requires of the Appraiser’s actually measuring a property? Seems very interesting that Fannie changed the rules to meet their narrative!

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Appraisers Blog

MARCH 1, 2024

I wish that my MLS would take the data they give more seriously. Each board have their own rules and they report data differently on their MLS. I would make request to report certain data that would make our jobs more accurate and easier. In reply to Baggins. This is great information. I was a member of five MLS Boards.

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Appraisers Blog

MARCH 3, 2024

Hey Todd, all I am saying is know the difference between primary and secondary data. I’d hate to see that skew your primary data sending you down the road to – “Well, that is my professional opinion based on 37 years of experience!” The latter is often hearsay, opinion and unsubstantiated. ” 0

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Appraisers Blog

FEBRUARY 29, 2024

Again, I am talking about data that I did not create first hand. In reply to Dave. I have always used the ANSI standards on every subject I have inspected for over 20 years. My report have more pictures than the average appraisal. So, when lenders started requiring many of these things I was already doing them. Sure, it may be an overkill.

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Appraisers Blog

MARCH 4, 2024

Who better to collect the property data than a trainee, allowing the individual to both gain field experience and knowledge, as they progress towards certification and adding new blood to the profession? This is all unnecessary and self-defeating.

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Appraisers Blog

MARCH 1, 2024

None of the amcs I work with will not allow trainees to inspect the property without being accompanied by a higher licensed appraiser. In reply to Lamarr Banks. You are correct! Trainees would be perfect for this. When they started this it did not make sense then and it does not make sense now.

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Appraisers Blog

MARCH 8, 2024

Simply put the answer to that question should be, yes, a PDC should be licensed… they’re entering homes just like an appraiser and as such should be subject to the same scrutiny and regulations… The more nuanced question is… why do/should PDCs even exist?

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Appraisers Blog

MARCH 2, 2024

Howard – that can only be true if you believe the market behaves and/or recognizes GLA to the 1/10th of an inch. This is a Lyle Rieke FANNIE thing.

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Appraisers Blog

MARCH 2, 2024

My State provides the tax assessor manuals and rules on how properties are done on mass appraisals. I sat down with the Chief Appraiser and he showed me how to understand the property record card and how they arrived at the data on the card. Adjustments for style differences may be made depending on what the market dictates.

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Appraisers Blog

MARCH 3, 2024

In reply to Dave. Dave, if you are going to continually rip on someone, at least learn how to spell their name so they know you are talking about them…… [link] 0

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Appraisers Blog

MARCH 3, 2024

You have made a significant point about differentiating primary and secondary data. In reply to Dave. I prefer appraisal 101 and you are deflecting. I think it is important for those reading your comments to have a clear understanding/definition of what primary and secondary are so as to have the proper context of your comments.

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Appraisers Blog

FEBRUARY 29, 2024

I am all for improvements, but this does not fit. I will never trust a PDC to do anything correctly. I will sign only what I inspect and collect. Worked for 45 years, it will work for a few more… Appraisers inspecting the subject is not broken, nothing to fix.

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Appraisers Blog

MARCH 10, 2024

In reply to Dave. ANSI is to a 1/10 of a foot, not 1/10 of an inch. You can measure the upper level from ground level, sometimes you need to go around the outside of the house more than once to make sure you get both levels measured right. I also take some inside measurements, not as easy as you think to get it right.

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Appraisers Blog

MARCH 11, 2024

In reply to Baggins. Most software can be set for feet or decimal measurement, Marshall Swift also has a conversion chart. Converting inches to decimal is no big deal.

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Appraisers Blog

MARCH 11, 2024

In reply to Nancy M. The concept is not logical, co mingling two entirely different measurement standards. Mandating metric, but only after the foot. Otherwise, standard feet is acceptable. But not acceptable for anything less than a foot. How long before they drop the foot and go with the meter instead?

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Appraisers Blog

MARCH 4, 2024

Trainees should always operate under a licensed individual. In reply to JohnnyQ. If they’d stop sidelining the entire appraisal community, senior appraisers and all, in favor of the amc industry, trainees would be back in the mix. Nobody is sidelining trainees. Because the amc industry did all the hiring instead!

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Appraisers Blog

MARCH 4, 2024

In reply to Russell Bean. Did you guys miss the ANSI thread? I kicked out some of the best meme’s on that thread. link] Dude, that’s a garden level, not a basement!

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Appraisers Blog

FEBRUARY 29, 2024

That includes information provided by the data collector who the appraiser has no confidence they are or are not qualified. If someone, beyond the control of the appraiser such as a data collector screws up and the appraiser gets called out on the carpet, he or she can lose their license and/or be sued.

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Appraisers Blog

MARCH 4, 2024

The main point, however, is that it makes more sense, in more ways than one, to have the Appraiser trainee do the work of an unlicensed property data collector. A trainee is licensed as you well know. No one said anything about a trainee running solo and unsupervised at the outset of his/her training.

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Appraisers Blog

FEBRUARY 29, 2024

A license for the PDC would give them legitimacy. A license which might require a background check, a bond or E&O insurance might alleviate those objections. If the license were difficult to obtain it would impact the cost greatly (no pizza delivery drivers). Be careful what you ask for.

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Appraisers Blog

MARCH 3, 2024

Oh Howard, so much time in what NOT to do, but little or no discussion as to your USPAP compliant statistical correlation analysis appropriate to substantiate adjustments made by YOU! I always make that adjustment LAST to see if it is indeed helpful in narrowing the adjusted range.

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Appraisers Blog

FEBRUARY 29, 2024

Neither you nor any of your contemporaries, nor any of your data sources are. Back to basics, use the best data you have and do not rely on casual conversations with your friends; that is foolish! You are required to include in your report that you are complying with ANSI measurements. Just footnotes!

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Appraisers Blog

MARCH 4, 2024

In reply to Baggins. Sorry, while AMC’s are part of the problem, remember who they work for. It’s not only AMC’s because I have dealt directly with lenders who do not want any trainee involvement specifically.

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Appraisers Blog

MARCH 1, 2024

This whole concept of PDC’s is a true slap in the face for appraisers. The process will become so disjointed that more time is going to be spent explaining misinformation, more addendums, more liability, less accuracy for sure, and I will never be a part of it.

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