Monthly Archive: January 2018

ClearVal Value IS So ClearCut - What IS a “ClearVal Appraisal” 149

What IS a “ClearVal Appraisal”?

Clear Capital ClearVal… Value Not So ClearCut… I’ve finally had an opportunity to read a hybrid ‘appraisal’ start to finish. All may read the unedited, non-redacted version in all its glory… or infamy, as the case may be. Please click here (report also embedded below) and read it first. I’ll wait right here. Finished? Great. One thing is clear. It is not an appraisal by any current accepted definition that I am familiar with. Ironically, there is also very little that is clear as far as support for the opined values is concerned. (I’m old fashioned and think it should...

Hybrid Reports: ASB USPAP Q&A Justifies Alternative Appraisal Reports 15

Hybrid Reports ASB Q&A

What the cohorts promoting hybrid reports are overlooking is APPRAISAL PRACTICE… Appraisers, On Tuesday, Jan. 23, 2018, the Appraisal Standards Board released their latest Q&A document (see embedded PDF below). This document appears to justify reasons why appraisers can complete the new ‘hybrid’, ‘bifurcated’, ‘desktop’ and ‘alternative’ appraisal reports (regardless of what they are named), although the Q&A document is written ‘generically’ and does not specifically mention those categorical names. I have two issues with this Q&A document: it does not discuss the appraiser’s true responsibility when completing certain kinds of these reports; for more on that see the additional...

USPAP Compliant Hybrid Online Forms? Risks With Hybrid Reports 14

What’s All the Fuss About?

There is no form that is USPAP compliant… There have been numerous articles and discussions on blogs, social media and other forums concerning alternative products, mainly Hybrid Appraisals. The profession is truly divided on the topic. Some see it as a race to the bottom, others see it as another revenue stream. Regardless if you are for or against completing these products, we need to remind all appraisers that there is no form that is USPAP compliant. The appraiser’s actions are what will make a report USPAP compliant. If the product is an online form, which most are, make sure you are able to...

Mobile Sketch User Guide - Total for Mobile Sketch 6

Mobile Sketch Guide

Just getting my big toe in the mobile ocean… Appraisers, For those of you interested to learn how to ‘sketch’ using a la mode’s Total for Mobile Sketch (T4M) on a tablet or phone, the attached PDF might be of interest to you. I’m a greenhorn, just getting my big toe in the mobile ocean and could not find a user guide for T4M Sketch, except as ‘single pages’ on the a la mode web site. I turned in a Support Request asking if such a guide was available. Turns out they don’t have a self-contained guide. So the support tech got...

Three Bills Concerning Our Profession Introduced - Call To Action 5

Call to Action

Three bills introduced concerning our profession… Fellow Appraisers, The 2018 Virginia General Assembly has begun and there are three bills that have been introduced concerning our profession. VaCAP is not behind any of these bills and we honestly do not know how they came about. We were truly blind-sided by them. We ask that you contact your representatives and offer your support, opposition and suggestions. It is also a good idea to contact the committee members that will be discussing and voting on each of these bills. We will continue to follow the bills and alert you when they appear...

BPO Outsourced to India Replacing Appraisals 27

BPOs ‘Made in India’

$10 a pop ‘Made in India’ BPO… When saying you’re 'sari' just won’t do. The Blackstone Group is nothing short of legendary. To say it is a 'Big Deal' is an understatement squared. A little background from their website. “Who We Are Our investments are designed to preserve and grow our limited partners’ capital, provide financial security for millions of retirees, sovereign wealth funds, and other institutional and individual investors, and contribute to overall economic growth.” An honorable & worthy objective by any measure. Helping retirees on fixed income, little old ladies, grandmothers and mothers, albeit wealthy ones I’d guess. Sovereign...

Reconsideration of Value Requests & Undue Influence on Appraisers 20

Reconsideration of Value Requests

Open invitation for spurious reconsideration requests… No thank you. I just checked your website and glanced at your “clients” tab, Reconsideration request form. It pretty well negates all the puffed up hyperbole in your email invitation. It is people like you that are the problem, not solutions. Do you think a one of two items drop down menu is an adequate reason for asking an appraiser to reconsider their value? Do you not see a need to request a full and thorough explanation as to why your clients might be asking for a reconsideration? At a minimum didn’t you feel...

Professionals With No Appraisal Experience Cornering The Hybrid Market 6

New Hybrid Desktop Hucksters

What could lure these successful 'professionals' from their chosen careers? Fellow appraisers, I just received an advertisement for a company that wants to pay ‘me’ $50.00 an hour to do desktop appraisals. Actually, probably not me, because they prefer a degree. Now, my routine hourly rate for complex appraisal assignments is $150 ($500 for EW and something variable in between for pretty much everything else). So they are asking me to take a cut of 2/3… assuming I could meet their degree requirement “preference”. It got me thinking. I cannot always command my hourly rate for 8 hours a day,...

Standards Written in Weasel Words - Is it jUSt PAP? ~ copyright AppraisersBlogs 6

Is it jUSt PAP?

…standards written in weasel words… Appraisal is not rocket science, but it’s been around for about 300 years and it worked pretty well when the principles were kept simple and the consequences for ignoring them were disastrous. It would also have been nice if individual lending institutions still had to hold their own loans into perpetuity. The “Just Pap” is more unpopularly known as the Uniform Standards of Professional Appraisal Practice, which came into being after the last big residential mortgage greeding frenzy (the failure of S&Ls in a 17%-mortgage-rate environment during the late 1980s). Before your friendly author proceeds...

Experience Requirements Reduced, College Degree Still Required for CG 18

Experience Requirements Reduced

Sometimes the only substitute for experience, …is more experience. Dear Mr. Traynor: The American Guild of Appraisers has long been on record in opposition to the original requirement for a college degree to become any level of real estate appraiser. This was never a requirement of Congress at all, but rather one developed by the AQB over time. While we are pleased AQB has abandoned the college degree at the licensed and residential certification levels, we are disappointed to see it is still being proposed at the general certified level. We repeat for the record; there is nothing involved in...

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