Blaming, Punishing Appraisers in State Laws

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Dave Towne
Latest posts by Dave Towne (see all)

Passing State Laws Mandating Fair Housing Continuing Ed for Appraisers

Will the same states that do this for appraisers also mandate similar Fair Housing and Fair Lending courses for lenders, loan officers, mortgage bankers…

Are you aware that US States are beginning to ‘require’ appraisers take required courses in how to treat people fairly, by requiring such a class for every license renewal period??

Here’s the law from New York state:

19 NYCRR § 1107.2. is amended as follows:

Section 1107.2. Individual continuing education requirements

(a) For State license and certification periods that commence on or after January 1, 2000, real estate appraisers and real estate appraiser assistants who hold State licenses or certifications must successfully complete 28 hours of approved continuing education, every two years including the seven-hour National USPAP update course, or its equivalent, as prescribed by section 1107.9 of this Part, in order to renew their licenses or certifications.

(b) Effective January 1, 2022, every licensed or certified appraiser, within the requirements of subdivision (a) of this section, must successfully complete a course of study in Fair Housing and Fair Lending, or its equivalent, as prescribed by sections 1107.33 and 1107.34 of this Part, in order to renew a license or certification(This underline is from New York, showing the addition to their law.)

New Section 1107.33 is added to Title 19 of the NYCRR as follows:

1107.33. Mandatory Continuing Education in Fair Housing and Fair Lending

(a) For State license and certification periods that commence on or after January 1, 2022, real estate appraisers and real estate appraiser assistants who hold State licenses or certifications must successfully complete an approved course of study in Fair Housing and Fair Lending, every two years, or its equivalent, as required in subdivisions (b) or (c) of this section, in order to renew their licenses or certifications.

(b) Any person holding a real estate appraisal license or certification that prior to January 1, 2022 completed an approved course of study in Fair Housing, Fair Lending and Environmental Issues (RE-2) or (GE-1), pursuant to sections 1103.9(b) or 1103.11(a) of this part, or its equivalent, may renew a license or registration by completing a course of study in Fair Housing and Fair Lending pursuant to either subdivision (a) or (b) of section 1107.34 of this part.

(c) Any person holding a real estate appraisal license or certification that prior to January 1, 2022 has not completed an approved course of study in Fair Housing, Fair Lending and Environmental Issues (RE-2) or (GE-1), pursuant to sections 1103.9(b) or 1103.11(a) of this part, or its equivalent, may renew a license or registration by completing a course of study in Fair Housing and Fair Lending pursuant to subdivision (a) of section 1107.34 of this part. Any real estate appraiser or real estate appraiser assistant seeking to renew a subsequent renewal, after satisfying the requirements of this subdivision, may thereafter renew such license or certification by completing a course of study in Fair Housing and Fair Lending pursuant to either subdivision (a) or (b) of section 1107.34 of this part.

This class in New York state is detailed to be 7 hours in length in another part of their law.

The California state legislature now has a pending bill on this same topic, with the requirement that the class be a minimum of 5 hours every renewal cycle.

Will other states jump on the ‘blame/punish’ culture bandwagon?? Too soon to know.

Will the same states that do this for appraisers also mandate similar courses for lenders, loan officers, mortgage bankers, purchasers/guarantors of loans, city mayors and council members, state legislators, governors, etc. Probably not, even though many bad practices and discriminatory policies of the past originated with them. Said another way, ‘redlining’ did not originate with appraisers. Yet ‘we’ are accused of allowing it to perpetuate.

Appraisers have become the flashpoint and are easily attacked due to their own inability to cohesively join together in ONE proactive organization advocating on our behalf, much like Realtors have done with NAR. They ‘get it.’ Appraisers don’t.

Makes me wonder if more appraisers will finally throw in the towel and find some other way to earn a living, or just retire without renewing their license if able.

I’m not saying that having additional education about this topic is not important. But a separate multi-hour required course EVERY license cycle is overkill. That diminishes other professional education that is necessary and important to enhance an appraiser’s experience.

Image credit flickr - Chad Kainz
Dave Towne

Dave Towne

AGA, MNAA, Accredited Green Appraiser - Licensed in WA State since 2003. Dave Towne on e-AppraisersDirectory.com

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41 Responses

  1. Avatar Ohio Appraiser says:

    So “woke”.

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  2. Bobby Jones on Facebook Bobby Jones on Facebook says:

    So stupid thanks america. Doesn’t matter color. Just political correct ass

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  3. Bobby Jones on Facebook Bobby Jones on Facebook says:

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  4. Bobby Jones on Facebook Bobby Jones on Facebook says:

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  5. Bobby Jones on Facebook Bobby Jones on Facebook says:

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  6. Avatar Julio E. Sune, Jr says:

    [“Are you aware that US States are beginning to ‘require’ appraisers take required courses in how to treat people fairly, by requiring such a class for every license renewal period??”] [DT]

    Modesty aside, I have been in business for more than 40 years and have NEVER seen such a concentrated effort hell bent to prove that appraisers can be racists without logic and supporting evidence. The news media is primarily interested in STORIES not facts.

    So, what can be done…What can you do for the profession… remember the PEN is mightier than the SWORD…

    “This is the lesson: never give in, never give in, never, never, never, never—in nothing, great or small, large or petty—never give in except to convictions of honor and good sense.

    [Winston Churchill]

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  7. Avatar Seneca says:

    Ohio has required a Fair Housing & Fair Lending course for years for appraisers & realtors. Not sure about loan officers. It’s a 3.5 hr course you take once. No big deal. You people overreacting like children. After reading Dave’s “Media Creating a False picture” article, I believe that a course like this would do him well.

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    • Avatar Shantel says:

      That’s not enough. Appraisers should be required to attend mandatory white privilege training. The widespread and longstanding discrimination in appraisals needs to end. Fair housing laws have failed as it is evident from the disparity in the appraised values between homes in white vs black neighborhoods.

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      • Avatar Seneca says:

        “The widespread and longstanding discrimination in appraisals”? Do you have evidence of this? Values between white & black neighborhoods are set by buyers & sellers. Appraisal reports only reflect the data of the past. Appraisal reports do not set or predict future values.

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        • Avatar Shantel says:

          I just love it when one of your own agrees with me – see comment posted by Appraiser of the west. Even our president called out appraisers’ racial bias, unlike the racist white supremacist before him. And you sill want more evidence. You’re a prefect example of white privilege.

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      • Baggins Baggins says:

        http://appraisersblogs.com/unaffordable-affordability-avoiding-the-cobra-effect/#comment-31592

        Have you ever actually read fair housing law rules? Because they are not there to equalize pricing between different economic groups or ethnic groups, fyi. Fair housing rules are in place to protect against discrimination which excludes people from opportunities they would otherwise be able to afford. Therefore as long as equal access is in place, price disparity is simply due to economic factors, not personal biases. Be careful repeating other peoples clever talking lines. Popular propaganda has a way of taking off like an old wives tale, until so many people repeat the slogans and mantras, nobody having taken the time to read actual law and source material. Then please specifically detail how higher pricing correlates with an increase in accessibility and explain specifically to how an appraiser taking this class will effect price.

        https://www.hud.gov/program_offices/fair_housing_equal_opp/fair_housing_act_overview
        https://www.hud.gov/program_offices/fair_housing_equal_opp/fair_housing_and_related_law

        All of the above is about fair and equal access, not price. Take the time to read the details about fair housing laws before acting like you know everything about it. One could get through all of the content in about a few days with dedicated research. Yet another longwinded government document set that appraisers dealing with organizations like HUD, should have already at least skimmed or perused. I’ve spent years of my life reading the HUD website and legal docs, as other responsible appraisers have too. It’s not surprising the legislators are just pushing more of the same through the pipeline though. As usual, the people on the government level spend more time dialing for dollars and spending other peoples money than anything else.

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        • Avatar Shantel says:

          I may not understand the law but I understand racism and I know that your profession is plagued with racism.

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      • Avatar Evil Empire says:

        Shantel your an idiot

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  8. Avatar Diana N says:

    Your sales are supposed to be in the neighborhood, or in a comparable neighborhood with properties of similar style, age , condition and sales prices how difficult is that rule to follow . It has nothing to do with the “color” of the neighborhood.

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    • Baggins Baggins says:

      When did lack of meaningful employment opportunity which leads to lower home prices suddenly become the appraisers fault? Perhaps we should redirect the blame to realtors. The sales agents after all, kept agreeing to low pricing. There are other people involved that deserve to share the joy of this witch hunt. Toss in some underwriters and jr reviewers if the mob demands fresh meat. If things get really bad, haul out the county assessor from the crypt.

      I’ll take systemic racism in realty for $2,000 Alex!

      Q: When two sales agents and one mortgage banker write a contract, form a price, and finalize a sales transaction, whom is to blame if the price is low due to area economic factors?

      A: The appraiser!

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    • Avatar don says:

      Diana, there are only red and blue, other colors are not permitted. Most appraisers have taken lending courses and some even have agents licenses, which already require legal information and license revocation on violation. how could any appraiser not understand his clients, or her-his position?

      More education should be encouraged. We are all multi race appraisers and or agents, we are all multiple races, and we are categorized, but most not as racists.

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  9. Avatar Appraiser Of The West says:

    On August 20, 2020, the Appraiser Institute published a letter addressing racial discrimination in appraisals.

    https://www.appraisalinstitute.org/file.aspx?DocumentId=2687

    Although the Appraisal Institute notes that the ethics requirements of USPAP already prohibit racial discrimination in appraisals, the Appraisal Institute acknowledges that more should be done than what is already contained in USPAP:

    “That said, we believe we all have a role to play in reinforcing existing requirements and obligations to
    promote education and awareness by appraisers on these important topics. With this, we encourage the Board of Trustees and the Appraiser Qualifications Board to consider additional steps that could be taken to reinforce these points within the Real Property Appraiser Qualification Criteria. This request is timely considering the Criteria are currently under review and update.”

    As a paradigm of how the Criteria might be enhanced, the Appraisal Institue looked to recently passed laws in New York and Ohio:

    “Additionally, at least two states – Ohio and New York – currently require real estate appraisers to take courses on fair housing and discrimination. The AQB could carry forward these requirements as part of the Criteria itself.”

    In addition, The Appraisal Institute recommended a number of other educational initiatives to enhance anti-discrimination practices in the appraisal trade in the letter.

    The Appraisal Institute does not note anywhere in their letter that their recommendations are being prompted by “blaming” or “punishing” of appraisers but are prompted by “… by academic institutions and think tanks alleging racial bias in real estate appraisals”

    Although not mentioned by name in the letter, the most famous of these studies is the Brookings Institute study published in 2018 demonstrating that there has been massive wealth destruction of black-owned homes in 113 metropolitan areas across the United States.

    https://www.brookings.edu/research/devaluation-of-assets-in-black-neighborhoods/

    The massive devaluation of black-owned homes started getting public scrutiny when the New York Times published an article on August 25, 2020:

    https://www.nytimes.com/2020/08/25/realestate/blacks-minorities-appraisals-discrimination.html

    The publishing of the New York Times article prompted thousands of black homeowners to post comments on Facebook about the low valuations of their homes compared to white neighbors who own homes with similar size, condition, and quality. Many of these black homeowners noted that their valuations improved on a subsequent appraisal when all identifying materials (i.e. family photos) were removed from their homes.

    It is sad that I have to report all of the above because Mr. Towne to date has not mentioned or addressed these published materials in his screeds. From what I can gather from Mr. Towne’s posts, the anti-discrimination initiatives taken thus far are a result of Joe Biden and a culture that wants to “blame” and “punish” appraisers for reasons not entirely explained by Mr. Towne. Argument from omission, partisan politics, and straw man arguments is the redoubt of someone who is trying to deflect from inconvenient truths.

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    • Avatar Coach says:

      West, what are your thoughts on Zillow and do you use it as a verification tool, do you rely on its zestimate when doing appraisals, and do you use its data such as comparable sales, listings, etc?

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      • Avatar Appraiser Of The West says:

        I do not use Zillow (or Redfin, etc.) for support in my reports. I only use sales that I have verified through the realtor on my local MLS system. For Sale By Owner, I verify details through the seller and buyer directly.

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        • Avatar Coach says:

          Then why would you give any credence to Perry’s Brooking Institute study/report? Much of the data used in this study carries very little weight, since information from Zillow and census bureau self-reported data were used.

          Here’s what Andre Perry said in the Abena Horton NYT article:

          “White appraisers carry the same attitudes and beliefs of white America — the same attitudes that compelled Derek Chauvin to kneel casually on the neck of George Floyd are shared by other professionals in other fields. How does that choking out of America look in the appraisal industry? Through very low appraisals,”

          Why would you rely on Perry’s report and not on this one?
          http://appraisersblogs.com/racial-bias-by-appraisers-is-uncommon-n-not-systemic

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          • Avatar Appraiser of the West says:

            Well, I will ask in kind: do you use any of these sources used the AEI report to support comp data in your appraisal reports? Do you understand any of these sources? I don’t but I do understand Zillow.

            “We use the following data:
            Collateral Risk Network’s (CRN) survey of Appraisal Management Companies and Lenders, Home Mortgage Disclosure Act (HMDA) data on denial rates, and National Housing Market Database consisting of:
            Public records data, Automated Valuation Models, National Mortgage Risk Index using agency loan data, including use of appraisal waivers, and HMDA data.”

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          • Avatar Coach says:

            West, a few years ago, the then Zillow CEO Spencer Rascoff in a Bloomberg TV interview stated that 17% of Zestimates are more than 25% WRONG. With over 100 million homes with an average price of $280k that means that 17 million of them have zestimates more than 25% incorrect. To make matters even worse, Zillow refuses all requests from homeowners to correct or delete these substantially inaccurate Zestimates. So again, why should we rely on a report which is based on Zillow data?

            Do you have proof that the data used in the AEI report is inaccurate? Until you do, I’ll rely on the AEI report rather than the brookings report.

            FYI, the Brookings study believes that appraisers determine market value when we simply opine on it using empirical evidence.

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            • Avatar Appraiser of the West says:

              From the Zillow website:
              “Zillow is constantly working to improve the Zestimate. When Zillow launched 11 years ago, the Zestimate had a median absolute error rate of 14 percent. Today, the algorithm’s accuracy is within 4.3 percent nationwide, meaning half of Zestimates nationwide were within 4.3 percent of the final selling price, and half are off by more than 4.3 percent.”

              https://www.zillow.com/blog/zestimate-220693/

              What I am saying about the AEI report is that I don’t understand their data sources and I have never used any of their claimed data sources. I’m pretty sure that you don’t understand it either. And who is the intended reader of this report? Academics? What universities are doing the peer review? Are the intended readers appraisers? There is no appraiser parlance used in the report and I see no indication that the report is for appraisers. And forget about loan officers and mortgage brokers. They have a hard enough time reading a 1004 as it is.

              Tell me, who was this report written for?

              I’m going to guess that this report was written as red meat for partisans so the conclusion that there is no racism in appraisals becomes a talking point while the report itself is not questioned because it is deliberately incomprehensible.

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              • Avatar Coach says:

                If Zillow says their algorithm is within 4.3% accurate, then it must be true? You can’t be serious.

                I’m sorry but I have a hard time believing you are an appraiser. An appraiser defending and advocating for Zillow and the Brookings report? That’s a first.

                No appraiser in their right mind would believe that racism in appraisals is prevalent. You are more aligned with the Shantel type then appraisers. Have you taken your white privilege training?

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                • Avatar Bill Johnson says:

                  Considering my primary market is above 1 million dollars, I’m sure every seller, buyer, agent, broker, and my lender clients are all okay with me being accurate to within 4.3% (+/- $43,000).

                  Seek the truth.

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    • Baggins Baggins says:

      Well it’s that, or maybe lines of reasoning revolving around an overbearing government which always seeks to grow itself at others expense. What is also sad is the apparent omission of the dozens of articles and thousands of man hours which appraisers have already put into discrediting the false narratives contrived around such ‘newsworthy examples’ of systemic racism in appraisal. Appraisers on these boards talked personally to a few of the ‘journalists’ whom pushed these narratives prior to the actual articles being written, then having clearly reported back the journalists either took things out of context or outright ignored meaningful essential data. The narrative was in place before the story was ever developed or any activity even happened. The apologies and signaling of institutional groups that something was going to be done about it, that arrived before meaningful research was ever attempted. Racism in appraisal is a contrived narrative and is not a truthful report. Rewrite that how one incompetent appraiser caused 80,000 appraisers to be branded racist by proxy.

      The Brookings institute is something also previously researched here, as I mentioned in the above linked comment from my previous post. They are one of the groups seeking to codify otherwise charitable write downs for select groups of people, ignoring the plight of the largest impoverished groups in America which is predominantly in rural locations. That ‘think tank’ is just another organization partnered with lenders, seeking additional paydays by driving up peoples indebted state through increased loan accessibility. It may become increasingly difficult to defend notions of noble causes like helping people remain in homes when the mechanisms to do so merely result in higher personal debt and even more powerful and consolidated lending institutions. As if that was not enough, artificial price parity and additional taxation burden is on the table, the act of pushing these classes is just the prelude to their final goals.

      If you’re still turning to organizations like NYTimes for truthful unbiased information, you’re doing it wrong.

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      • Avatar Appraiser of the West says:

        Mr. Baggins:

        Your post is difficult to respond to because it is mostly a thesis on your anti-government worldview and is mostly off-topic. The topics at hand are the question of systemic racism in the appraisal trade and what to do about it? In my original response, I constrained myself to verifiable sources and quoted from those same sources regarding systemic racism. I’m asking you to do the same. Otherwise, unconstrained by verified sources, your responses thus far have been lengthy feral runs covering a landscape of anti-government opinions and conspiracies with a dismissive tone that presumes the reader shares your same world view or is a kindred spirit who will be merely satisfied with your opinions.

        The only link you post is a link to some HUD rules which no one asked for or is questioning. All the sources I quote above acknowledge there are already ethics rules in place that prohibit racism but all of them also acknowledge that system racism in the appraisal trade continues to exist.

        And what to make of the Hortons, the black couple in the New York Times article who live in a white neighborhood who had their house appraised for a refinance? There was never a question (as you assert) of “access” since the Hortons already owned their home. Contrary to your assertion, appraisers do not provide “access” like sellers or landlords but provide “valuation services”.

        We will never know what you think of the Hortons because you dismissed the New York Times out of hand as not a source that is “truthful” or “unbiased”.

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        • Baggins Baggins says:

          How private industry influences government and law. If you don’t know your history you are condemned to repeat it. There is nothing anti government about me, except to recognize the proper intent of government is to protect liberties, not to direct ideologies or change financial futures.

          People on this website analyzed the Hortons in detail in numerous articles prior to this. I don’t recall you being there and you certainly overlooked bonafied data already presented which is dealing with these topics at hand. You can use the little search tool in the upper right window or backtrack through the dozen of articles already posted on the matter. Your informational resource is already at hand. What to make of the executive of a major financial institution whom apparently wanted to cry wolf rather than pursue proper well established avenues of reconsideration of value or complaints to regulatory authorities. Please don’t try to claim that every instance of value shopping by borrowers now constitutes underlying appraisal racism.

          The HUD link is entirely relevant because as the call to force appraisers into a new line of education is tied to an illogical premise of perceived racism which does not actually exist, the classes have a high probability of seeking to direct appraisers beyond the limited scope of actual existing fair housing laws. Therefore it is proper to assist appraisers on education regarding what the real law is, vs what people may seek to portray it as.

          The question of access is always there. There are stages of a loan and milestones along the way which are important. Just getting into a home is not the finish line. Being a sale or refinance is mostly irrelevant pertaining to the accusations.

          It is a shame the journalists don’t constrain themselves to only verifiable sources, purposefully avoiding important and meaningful data presented to them which disproves the supposed position. But hey, without the headline, there would be no paper. Sensationalist journalism at it’s finest, one step up from clickbait and feral cat videos. You’re not doing much better with the grating approach, imho.

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          • Avatar Appraiser of the West says:

            “….the call to force appraisers into a new line of education is tied to an illogical premise of perceived racism which does not actually exist…”

            The preponderance of credible published material is decidedly for rather than against there being systemic racism in the appraisal trade. Also, the latter rather than the former being true owing to your stubborn refusal to cite any credible sources. You imploring that I do my own research to support your position is not well received by me.

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        • Avatar Seneca says:

          Appraiser West,
          You seem a little late to the party. Do you know the Hortons are not a black couple? Do you know anything about Abena Horton? What she has said before her appraisal about appraisers? Who she works for? What have been her actions (or inactions) over the last five months after her appraisal?

          http://appraisersblogs.com/why-is-only-one-side-of-the-racism-claim-appraisal-story-being-reported

          If you don’t know the answers check back with me.

          Also the Bookings Institute is just a study of a data set. Does not answer any questions or even ask why.

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          • Avatar Appraiser of the West says:

            To the extent that the guest writer is engaged in mostly speculation that there must be another side to the story (the fallacy of “bothsidesism”), I don’t find the guest writer’s opinion piece compelling at all. I actually wasn’t aware that the Hortons were an interracial couple but to assert for this reason that there was no racism is a bit of sophistry. There is a lack of self-awareness by the guest writer that interracial marriages have only been legal in the United States since 1967. It would be naive to think that racism towards interracial couples simply disappeared after 1967. Given this recent (and astonishing history), there is no way to dismiss out of hand the veracity of Mrs Horton’s claim of racism. The guest writer’s dismissiveness is entirely based on speculation.

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            • Avatar Seneca says:

              Not too sure you read the article. I don’t know if one would call it speculation. He does bring up a line of questions that need to answered by Mrs Horton. A list of motives that not only fall in line but too many to be coincidental. It’s been 5 months and she hasn’t filed a complaint with the state board or filed a civil case. The only thing she has done was create a web page so you can hire her to speak at your event about racism. “https://www.abenahorton.com” This along with the non-human appraisal products that her company is selling means the proof of her accusations are all on her. BTW, check out all the links at the bottom of her web page. She did this story so she could get exposure for her real motives. $$$$$$$$. I wonder if Black Knight also paid her a bonus to do this so the company can push their products?

              Do you also dismiss a pretty compressive study by a reliable source that concludes racism in appraisal is Uncommon & Not Systematic?

              Are there racist appraisers? Out of 88,000 of us…I’m sure there are few. There are racists in every aspect of life worldwide. But to say it’s a widespread and longstanding discrimination problem as Abena’s little minion Shantel says….., data suggest otherwise.

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              • Avatar Appraiser of the West says:

                I’m guessing you are referring to the AEI report? What I am saying about the AEI report is that I don’t understand it. I know that you don’t understand it. It is intentionally written to be hard to understand by anyone so the methodology won’t be called into question by partisans who only understand the conclusion of the report. The AEI report had no intended reader of the report when it was written as far as I can tell. The AEI report was written only with the conclusion in mind: that there is no racism in appraisals to serve as a talking point for partisans who badly need its conclusion due to the paucity of support in the intellectual marketplace giving support to no racism claims. The AEI report has had no coverage. It has had no peer review. I can barely find references to it anywhere. The report looks like it was written in Microsft Word in someone’s basement.

                In contrast, The Brookings Institute report is clear and easy to understand by just about everyone. It has had wide coverage in the media and has been picked apart by just about everyone who cares about this issue over the last two years. And despite all that, it is still quoted in the present day in media coverage.

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                • Avatar Seneca says:

                  Once again, The Brookings study doesn’t say anything. Just gives you data between two data sets. That’s why “everyone” can understand it. It does not ask why. The same study could be done on a town of 30,000 with all white people and it will give you data that says homes on the west side sell higher than homes on the east side. Therefore you have east side “devaluation”. But we need to ask why are east side homes valued less? So, Why are black neighborhoods $48,000 less? The list is long. The many answers are facts, some are stereotypes and many answers are an uncomfortable truth.

                  The appraisers are the messenger of the data, Not the manufactures.

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                  • Avatar Appraiser of the West says:

                    The Brookings criterion posted on their website:

                    “We restrict this analysis to the 113 metropolitan areas with at least one majority Black neighborhood. We also give extra weight in the analysis to metro areas with larger Black populations to reduce the influence of measurement error; as such, the estimates should be thought of as characterizing the experience of the average Black person living in different types of metropolitan areas.”

                    If the majority-black neighborhoods are worth less…seems straightforward and easy to understand to me.

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                    • Avatar Seneca says:

                      You stated “credible published material is decidedly for rather than against there being systemic racism in the appraisal trade” So what’s the point of citing the study when it doesn’t say anything about appraisals being the cause? or any cause for that matter. In fact you haven’t submitted anything to support you statement. And at the end of the day I am not sure what is the point of any of your posts. I’m finding out that you ramble on like Baggins. I quit reading his posts and engaging with him a long time ago.

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                      • Baggins Baggins says:

                        Color coded policies should be left in the history books, not rehashed, paraded around in new varied forms. I’m more with the notion that to even attempt to acknowledge there is a problem or to somehow feel compelled to apologize about this perceived slight, is to engage in the problematic side of it. Wait for this misguided effort to lose sail.

                        As appraisers we are aware of the need for better broadly applied financial education as well as better understanding of construction and home management principals in general. I think the series of home improvement based tv shows are positive events in terms of educational access. What an interesting phenomena, now people expect more. As the largest investment in peoples lives, there should be better education from youth to adult, how to be better stewards of of homes, smart home management, building to affording to buy. More important topics than skepticism and the humanities.

                        Long track record management factors are strong drivers to value. Many have mistaken these general trends in value and subsequent categorical differences for issues like price and over all home qualities, presuming those differences are purposefully derived from sales agents and appraisers. When in fact, the market and price is set by the participants themselves, buyers and sellers.

                        Instead of better educational efforts, we’re backtracking to reiteration of basic market principals. Supply and demand drives home price and subsequent market value benchmarks. Appraisers do not move the market needle, that is someone elses department. What is there to apologize for or rebut, except for accusations from the misinformed?

                        More education for appraisers will not help the masses of market participants. We only deal with any given person one single time, often for only minutes. I’m sorry I can not spend more time with people to provide them this education personally, I give it my best effort. It’s the ones appraisers are not in touch with that need the education the most, renters, impoverished, those reliant on government.

                        1
  10. Avatar Appraiser of the West says:

    I haven’t cited anything? ANYTHING? My original post has nothing less than a cited letter from the Appraisal Institute published on 8/20/2020 acknowledging the issues I assert.

    My original post that started this thread rigorously gives sources and quotes from those sources. My original post is peerless regarding citations compared to the other responses on this comment thread.

    0
    • Baggins Baggins says:

      It’s all good Appraiser of the West. Thank you for participating, it’s nice to see new people. There are like, a hundred or more relevant links in the backlogs on this specific issue. Appraisers had initially chimed in by the dozens with a lot of rich research.

      The issue won’t go to bed. This is going to be worse than the ethics class, bound to be a snooze fest with a side of hard to interpret progressive political language. Appraisal CE companies are going to rehash the same basic class to infinity. That could have ran through the ASB as a one time class requirement and did not need to be a state regulation.

      https://www.appraisalbuzz.com/pro-appraiser-remarks-from-joan-trice-congressional-hearing-comments/

      I guess add another dot on the spaghetti map.

      Those new to this issue like readers from the outside and such, should review previous hearings on valuation process. This was from 06/2019. Same players, different day. Also a plethora of relevant links on commentary on this issue on this website, it was posted as an article in that time frame.

      In retrospect, what an amazing play they made, to reframe the issue, get better support for radical changes. There is a real problem with appraisers. Something needs to be done. People are getting on board with the need for valuation process reform. Funding is imminent.

      1
  11. Baggins Baggins says:

    Well this fizzled out. Like all the false premise appraisers are racist articles before this.

    Somebodies karma ran over their dogma.

    The picture that will live in infamy. How many people on the panel that actually think appraisers are a problem. Note, the only people agreeing, are the ones seeking legislative funding for their orgs.

    This issue is about to be filed away in the dustbins of irrelevant history, hopefully right next to the new managers of what has now become sensationalist journalism nothing better than tabloids, aka; fake news media. Going once. Going twice…

    0

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Blaming, Punishing Appraisers in State Laws

by Dave Towne time to read: 3 min
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