The Appraisal Foundation Chocking The Appraisal Industry
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The Appraisal Foundation Resisting Change
The Appraisal Foundation sent out a correspondence stating the Appraisal Institute is undermining their authority. This was very one sided and off the mark.
Everything changes. The appraisal business is changing. AI is staying on the fore front of this change. The Appraisal Foundation is resisting change. The Appraisal Foundation policies are chocking the appraisal industry. It is next to impossible to bring on new people. As a result the number of appraisers across the country in 2007 were 120,000 +/-. Today its about 70,000. The industry is changing and so must the policies. AI does not want to go back to the ways of the 80’s, AI wants the appraiser to have more tools to use.
USPAP started out for Federally Related Transactions. The States set their laws up that appraisals must comply to USPAP. This now limits the things we can do. Now 90% of the appraisals will still comply to USPAP, but it would be nice to offer other services.
I found that letter from The Appraisal Foundation very one sided and very anti Appraisal Institute. I ask you to know the facts before voicing your opinion to The Appraisal Foundation.
By Alex Uminski, VaCAP Treasurer