Appraisers Blog

APRIL 18, 2024

This is going to be the market for sometime, of which I do agree with you. Do work that other appraiser’s are not willing to do because they want to cherry pick work that are located in a single county that they live in and don’t have to drive more then 20 minutes for the subject and comps.

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Appraisers Blog

JUNE 12, 2023

The market flows and ebbs on many basis’s: Financial wherein the lender need to secure monies in R.E., Can’t the appraiser recognize that using two-year-old sales comp’s have meaning and be part of the value conclusion? In reply to Baggins. You get it! Did it close in 45 days or in ten months?

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Appraisers Blog

OCTOBER 6, 2023

I saw where somebody above commented that they had a complaint also and that FNMA was not accepting the comps they had used and wanted other comps that the appraiser considered to be not comps. I appraised a house built in th 1970’s when new homes were basically boxes with low pitched roofs.

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Appraisers Blog

MAY 4, 2023

The comps/market and analysis speaks for itself. Is the analysis sound, are the comps conditionally and locationally adequate and relevant to the subject. Who’s concerned about ethnicity or race and how can one appraise a property on that basis? It’s not the appraisers who request that photos of people, ethnic art, etc.

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Appraisers Blog

AUGUST 4, 2023

Definitely not an appraiser or real estate expert. No one has seen the second appraisal. I saw the most important parts of the first appraisal and ran comps. The first appraisal looks like market value to me. In reply to hammering hank. No one can make that statement. ” 2

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Appraisers Blog

APRIL 1, 2024

From the article; Because AI appraisers are trained on data originally sourced by humans—not all of which is unbiased—there’s the potential for the AI to work from flawed data. The ‘not all of which is unbiased’ comes from the FHFA and HUD’s Auto De Fe inquiry into prohibited language in appraisal reports.

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Appraisers Blog

JULY 19, 2024

A few years ago I put out a poll to appraisers that work in my area and similar areas asking 3 questions with the possible answer of always/sometimes/never Q1 – do you pull the as built and OSS data prior to your site observation of the property? I work in an area where onsite sewage systems (OSSs) are common.

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Appraisers Blog

JUNE 18, 2024

Or we could go back to mortgage bankers and appraisers having direct communication and meaningful professional relationships, better two way accountability. They could ask for a comp search before ordering the appraisal, so the borrower would know ahead of time a reasonable value range of their property’s market value.

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Appraisers Blog

JUNE 2, 2023

Initially they had to sift out the unethical appraisers from the ethical ones, in a climate where ethical appraisers dominated the field. Appraisers whom were identified as not being pliable were hassled out with insane volumes of stipulations, revision requests, fee and turn time inquiries, to the point engagement was untenable.

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Appraisers Blog

APRIL 18, 2022

…a brilliant ‘work around’ to solve the subject & comps adjustment issues, which Fannie Mae thinks is no big deal… Appraisers, I was chatting with an appraiser buddy last week about the ANSI measuring dilemma we all face when doing Conventional lending reports, which ultimately will wind up with Fannie Mae.

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Appraisers Blog

MAY 3, 2024

As a Sr Residential Collateral Risk Analyst for HSB we would review any ROV request that came through before passing it on to the appraiser. I was able to address the concern(s) or ROV comps much of the time and the ROV would be rejected as unsubstantiated. The appraiser would never see it. Emphasis on “should” 1

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Appraisers Blog

JULY 27, 2023

Also each comp. Giving into the power grabber’s NEWSPEAK practices is destructive to our profession, market participants and our country. I only do narrative – non-lender reports – each stating which school district a property is in. write-up states its school district. School districts affect value.

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Appraisers Blog

FEBRUARY 16, 2024

Here is a fun appraisal reporting exercise; Detail the initial list price, then the final list price, then the actual sales price, of subject and all selected comps. The appraiser even when present was powerless to stop the domino effect, because value acceptance sales records were already on the books with the inflated figures.

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Appraisers Blog

MAY 6, 2024

Viewing contractual figures is essential for appraisers. Always comp search first or you’re driving blind. Sign the listing agreement and I will be your personal market advocate. Seller; What if the appraisal comes in low? In reply to Chuck. Seller; Do you really think we can get that much? We’re going to win.

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Appraisers Blog

APRIL 23, 2024

The comment was written after an underwriter expressed concern regarding a comp that was outside the neighborhood (by way of its census tract) and that no neighborhood adjustment adjustment was applied. With permission from the original author, please feel free to use the below comment as is or edit to your liking.

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Appraisers Blog

AUGUST 8, 2023

In reply to an appraiser. On the same day, oh, now the appraiser is just a number hitter and playing ball for the lender. Appropriate to land at or near the sale price if competent comps selection and fair transparent adjustments can lead to that end point of independent conclusion. Really quite simple though.

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Appraisers Blog

JUNE 15, 2023

There is an appraiser around me whom always uses 9-12 comps and then just scoots the ones which have narrower net/gross adjustments to the front, yet leaves the others in there, despite them having insane high net/gross adjusts and adjusted sales values which are at times a quarter or more difference. They’re like anti comps.

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Appraisers Blog

MAY 15, 2023

Just a little extra added on top of what was already a very difficult to navigate system which is inherently biased against the independent appraiser. Simply comp search everything, and refuse to accept assignments if terms of the arrangement are either too close or simply not working. After all, not much has changed.

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Appraisers Blog

JANUARY 11, 2024

I came across a fraud scheme several years ago involving a community of fourplexes, where the sellers falsely purchased a few model matches for well-above market – with fraudulent appraisals – to then use as comps for real sales. The free (real) market always wins.

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Appraisers Blog

JANUARY 2, 2024

[link] A substantial portion of well developed appraisal is based on logical inference… Recognized methods is also a somewhat subjective topic. Or alternatively that if there are scarce ‘good comps’, the adjustment scales may need to expand. ‘Best of ability developmental methods.’ ’ Thoughts?

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Fair Market Value Comps Appraisal Marketability 52

Appraisers Blog

JUNE 26, 2023

Appraisal is in the end, a rather simplistic math problem. Those generic appraisals are easy reads, they just ignore all those real world differences and fall back on extracted data to apply adjustments. But for an average suburbia home, appraisal is not as complicated as people think. That’s how I approach it anyways.

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Appraisers Blog

JUNE 27, 2023

Possible avenues of liability; listing agent, buyers agent, home inspector, real estate appraiser. There is also a specific appraisal issues forum meant for general public on another popular website The Appraisers Forum. link] NC appraisal board, how to file a complaint. One sale example does not set the market.

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Appraisers Blog

OCTOBER 20, 2023

I’m a Certified General Appraiser that started appraising in 1984, almost 40 years ago! Spent the majority of my career appraising both residential and commercial properties in a major metropolitan market. Like most of you, I really enjoyed appraising and was proud of my profession.

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Appraisers Blog

JANUARY 29, 2024

Heuristic, I had a very similar appraisal situation on a home about 8 miles from my office. I never received a request for the appraisal assignment, but I knew the listing agent involved in the purchase. She was upset about the appraisal comps used and value conclusion ($2.1 In reply to Heuristic.

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Appraisers Blog

OCTOBER 23, 2023

‘You know what the problem with appraisers is? They get really peeved when I call them on the appraisal gap clause. The appraisal gap cash promise clause is not just a tool to win the contractual pole position, but rather the expression of a buyers willingness to drive the entire market benchmarks upward.

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Appraisers Blog

NOVEMBER 15, 2023

Where there is a scarcity of recent comparable sales data, the Appraiser may include sales older than 12 months as additional sales in markets. If dictates for appraisal performance are not in that hand book, they are not GSE policy but rather a lender specific policy.

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Appraisers Blog

JUNE 14, 2023

Whatever happened to match pairing or market reaction? Every line item adjustment (no matter what it is) should be in terms of differences in VALUE recognized by the market you are appraising in NOT COST! MR. APPRAISER YOU ARE NOT THAT GOOD; YOU ARE NOT BETTER THAN THE MARKET! Dave, I could not agree with you more.

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Appraisers Blog

JUNE 15, 2023

My reports are very inclusive and long – to the chagrin of the opponents typically lazy appraiser. Good luck with the demented “current world order” Just finished some self storage work and included 25 rent comps in the report based on a survey I conducted. This is in addition to the inclusive appraisal report.

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Appraisers Blog

JANUARY 26, 2024

Talk honestly to people about how much your fee was, how you researched the market, and what you thought of the home. This does not comp out. Or I have researched this and think another appraiser would be a better fit for the benefit of the lender and the borrower, so I’ll pass on the order and wait for the next one.

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Appraisers Blog

FEBRUARY 23, 2024

Instead follow the prosecuting attornies advice she uses as the basis for the claim which the firms representative compensation is contingent upon; develop a refinance appraisal for a multi family rental unit in depreciated condition, and use comps of renovated single family use home sales on the same block as primary market value indicators.

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Appraisers Blog

OCTOBER 23, 2023

How about applying that same standard to the list agent but in reverse; They are required to list at the appraisers value but are not allowed to list higher or lower than that point. This touches on the very reason for an appraiser, a check to balance. Then here comes me, last in the line, the dreaded appraiser.

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Appraisers Blog

MAY 3, 2023

There is no longer a data entry location for land value while providing real property appraisals for existing structures? Appraisers should have the discretion to uniquely label and adjust if needed, in several blank readily available free entry lines. What if the appraiser needs to adjust for multiple miscellaneous items?

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Appraisers Blog

JANUARY 30, 2024

In reply to Retired Appraiser. I understand what you are saying about the Govt should not be able to restrict discussion about fees, but fees are completely dependent on market. So, I have no issue with talking fees, but they should be based on hourly rates, not gross billing for each report.

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Value Scope

JANUARY 13, 2021

What is the market “at the well” valuation? What does it mean to make oil or natural gas “marketable”? It is true that oil and gas production involves complexities that other businesses do not have, and the gathering, processing, transportation, and marketing processes and costs can be opaque. What are the gross profits?

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Appraisers Blog

OCTOBER 3, 2023

So if they can’t actually find something against appraisers, they could be manufacturing something just to check that FHFA compliance box to access the additional salary potential. Appraisers are walking ducks with targets on our backs. Think of the appraisal as an argument of a product or cause. Sounds logical to me.

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Appraisers Blog

JANUARY 17, 2024

… so I clearly understand… an appraiser gets a single family residential FHA purchase appraisal assignment in a blighted area that is crime ridden, on a property that was originally financed by an FHA lender, and has (or is on the verge of) a foreclosure notice. You are not the appraiser that did the report 3 years ago.

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Appraisers Blog

FEBRUARY 9, 2024

POST SUBMITTAL RECONSIDERATION OF VALUE (ROV) REQUESTS: Post submittal requests for market value reconsiderations should put an emphasis on closed sales (non active / pending) from within the subjects previously detailed neighborhood boundaries. it gives the appraiser a backboard to push back. Seek the truth.

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