Category: The Appraisal Foundation

College Degree Requirement Misguided 12

College Degree Requirement Misguided

The college degree requirement seems more like a forced attempt at elevating the status of the profession by closing the club, and that strikes me as elitist. I know about half of you disagree but the college degree requirement for Certification was a wrong turn for the industry. To its credit the Appraisal Foundation (TAF) is on the right track in trying to find a way out of the corner it has painted the profession into but it doesn’t look like it intends to go far enough in fixing the problem. As we all know by now, veteran appraisers as...

Cracking Down on Appraiser Licenses & Higher Fees 12

Cracking Down on Appraiser Licenses & Higher Fees

Now they’re saying your license has to be revoked! The Federal Government is cracking down on appraiser licenses that were issued by the states where the applicant did not meet the “new” TAF requirements. Several states have this problem. Virginia is in that mix. About nine appraiser licenses were issued that the Federal Government is now saying have to be revoked. About half of these people have reached out to me. There is not a lot I can do or VACAP can do. But the state will be addressing this issue over the next couple of board meetings. So if...

Experience, Education Criteria Input Request & AGA Open Letter 18

AGA Open Letter Regarding Changes to the Criteria

Request for Appraiser Input The AGA sent the below letter to the AQB in response to their outreach asking for comments. Please write them and tell them YOUR views. If you agree with what we have said, then just copy it and add your name to it saying “we agree”. Or don’t copy it, and just say “We agree with the AGA letter”. If there are any significant parts you disagree with, then please ‘except’ those. If you have additional thoughts or suggestions for them (civil ones), feel free to add them. I’ve already received an acknowledgement so I KNOW...

The Decline of Appraisers 26

The Decline of Appraisers

The problem is not simply that too many appraisers are retiring. Very few appraisers are entering the profession. In Illinois, the drop in real estate appraiser trainee applications went from 1,231 in 2005 to only 55 in 2015. That’s an over 95 percent decline. This drastic reduction in new entrants is being seen in states across the country. Many appraisers welcome the shortage, which has already driven up fees in many areas. But many believe the celebration is shortsighted. A decline in the number of appraisers threatens the integrity of lending and undermines the stability of the real estate market…

Board Member Says Squeaky Wheel Gets the Grease 2

Board Member Says ‘Squeaky Wheel Gets the Grease’

Board Members reported a shortage of individual appraisers offering suggestions, complaints and concerns… Legitimate ‘complaints’ should never be referred to as whining by any professional in my opinion. To do so diminishes the importance of the concerns being addressed. I attended the Las Vegas Public Hearing of the The Appraisal Foundation (TAF) / Appraisal Practices Board (APB) last Friday. No Appraisers Guild or member funds were used in any way for this. There was lots of good information. Board Members reported that there really is a shortage of individual appraisers offering suggestions, complaints and concerns to them as a Board,...

Appraisal Standards should age like fine wine 8

Appraisal Standards Should Age Like Fine Wine

Changes in Appraisal Standards? We have barely got into the “New” 2016-2017 copy of USPAP and the ASB is meeting on February 19, 2016 to discuss making changes to the 2018-2019 edition of USPAP. Here is part of what I have written to the ASB. I believe it should be the duty of every appraiser to write to the Foundation and any board that is contemplating making changes. You have that right, and they will read your comments. Letter to ASB: I have been a real estate appraiser since the mid 1980’s and prior to mandatory licensure. I have been...

Appraiser Engaged in Mortgage Fraud Remains Licensed with California BREA 15

Appraiser Engaged in Mortgage Fraud Remains Licensed with BREA

…BREA thinks it is acceptable to let an appraiser who engaged in mortgage fraud remain licensed… The Inmates Must Be In Charge of This Asylum The California Bureau of Real Estate Appraisers is sadly yet another example of a state agency that does not really understand what the taxpayers expect of it. The taxpayers probably assume the agency in charge of licensing appraisers in California would certainly not renew the license of an appraiser who not only is indicted in a multiparty, multi-million dollar mortgage fraud case, but actually pled guilty to at least one count of the crime. Unfortunately,...

Reality check for appraisers 6

A Reality Check for Appraisers

I am not selling road-apples to my fellow appraisers… Appraisers as a group DO NOT PAY ATTENTION to what is going on within the profession OR seemingly unrelated areas that affect the profession. FNMA & Freddie ALREADY HAVE authority to fund loans without appraisals. This is in anticipation of an appraiser shortage. AI has appointed itself the ‘voice of all appraisers’ in America. They actually made the statement at the California TAF meeting in June that they speak for all appraisers interests AND that they put those interests of the entire profession above their own. (source-live meeting; TAF/ASB Redondo Beach...

A Contrary Response to The Future of Valuation - Imagecredit Flickr - Simon Cunningham 6

A Contrary Response to The Future of Valuation

Recently an article appeared in WorkingRE about the Future of Valuation. The author is the President of a large and highly respected Appraiser  Peer and Educational Organization.  My own contrary response was either too lengthy, or deemed too critical of a big advertiser for publication in WorkingRE. I thank the hosts of this blog for granting the space. My concern with the author’s views starts with the description of our Real Estate Appraisal profession as ‘valuation.’ The concern is more than mere quibbling over semantics. Valuation is the phrase preferred by the Business Valuation community. They have long been dominated...

Another Win for Appraisers - California 6

Another Win for Appraisers – California

Cooperation between appraisers and multiple appraiser organizations wins the day in California! When is the last time you heard of a State bill that was already passed by both State Houses (Assembly & Senate) in any state, being quashed short of a Governor’s veto? Especially a “consent calendar” item that legislators automatically vote to approve for each other as a legislative courtesy. In less than two months? Let me share a quote from Rey Cano’s regular appraiser newsletter (www.Malibuappraisal.com). Rey, along with George St Johns, was an original co-founder of the California Coalition of Appraisal Professionals (CaCAP), where with full...

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