Tagged: technology

AVM vs My Opinion - Armed Appraisers Can Beat AVMs Every Day 6

AVM vs My Opinion

AVM versus my opinion… My recent article “Why is Residential Appraisal in Trouble” lays out how the profession and the individual (you?) can prepare for the future. I do not take an emotional position for or against AVMs. AVM is a competing industry for valuations. AVMs have succeeded in taking a large market share for valuations and risk analysis in the past 20 years. Every large lender and our GSEs use them every day. And yes, a machine can only deliver an analytic result, not an opinion! My only mission (Stats, Graphs, and Data Science classes) is to help arm...

Pandemic Exacerbating Anxiety & Depression in Some - Appraisers Blogs 8

Pandemic Exacerbating Anxiety & Depression

Medical professionals who understand human psyche have been sounding alarms about personal actions relating to how this pandemic is being managed… Folks, this was tough to write, but it’s important. Yes, that’s my opinion! The current state of affairs in this country, and globally, is the worst we humans have seen in generations. Most of us were not alive during the last major pandemic in the early 1900’s, or even during WWII, when living situations were very trying for many people. In later years, pandemics have occurred, but governments’ reactions and actions to those were much more mild as compared...

The Appraisal Community, an Asset During These Challenging Times 20

Appraisers Continue to Be an Asset

The appraisal community has come together… stand strong, be resilient and continue to be an asset to your clients during these challenging times… The appraisal profession came about because of the Great Depression and our relevance is still strong today. Exceptional circumstances such as the current pandemic create a need for temporary allowances for information gathering for the valuation of collateral. The appraisal community has come together to insure our clients’ needs are met. Be it extra precautions with masks and gloves or owner assisted property inspection software. Appraisers have once again adapted to market conditions in order to provide...

Are Technology Companies Selling Modern Version of a Pet Rock? 8

Technology Companies Selling You a Pet Rock

Are technology companies simply selling a modern day version of a Pet Rock? Technology companies flaunting their real estate valuation products show us lots of pretty color charts and graphs and sell us on their products. But what would happen if someone were to ask a simple question of these technology companies… How did you determine that value? Just imagine for a moment you are testifying in court and counsel asks you how you determined your opinion of value. The appraiser could answer that question without hesitation. Simply, you know what you did. Even follow up questions could be answered...

Homeowner Enabled Appraisal Inspection Tool, Social Distancing Protocols 28

Homeowners Providing Interior Home Data

Clear Capital is launching a new homeowner-enabled appraisal inspection tool the week of March 30… Over the past few weeks, I have seen in forums many appraisers talking about having homeowners provide home interior details (photos, videos, etc.), which can be used in appraisal reports. Well, guess what? American Ingenuity at work, which will be available soon. From the HousingWire article titled “Clear Capital launches new remote inspection tool“: “Real estate technology company Clear Capital has launched a new homeowner-enabled appraisal inspection tool, which adheres with encouraged social distancing protocols in light of the coronavirus. OwnerInsight is a tool that...

Are Appraisers & Realtors Becoming Obsolete Like Cows? 19

Are Appraisers Becoming Obsolete?

Like cows, is technology making us functionally obsolete?… Cows are Obsolete! Pigs and chickens too! I just ate an “Impossible Burger” for lunch at Burger King. It tasted great! It looked great too. I could not tell the difference between this fake burger and the real thing. Goodbye cows! This morning, like usual, I ate Morning Star Farms breakfast sausage instead of real pork sausage. I love these things! Goodbye pigs! Beyond Meat has grilled chicken strips and Vegan Egg offers their “Plant Based Egg Replacer”. Goodbye chickens! As all of these “fake foods” grow in popularity, certainly farmers and...

SFREP Doesn't Do Data Collection - Software by Appraisers for Appraisers 23

SFREP Does Not Collect Your Data

What Exactly Can SFREP Software Offer for Real Estate Appraisers? Are you working as efficiently as possible? In this day and age, appraisers need to be quick on their feet and utilize every tool under the sun to help streamline the process. That’s where SFREP comes in. This company is creating software designed to make the appraisal process digital while keeping it as fast, accurate, and straightforward as possible. But how exactly does SFREP work, and can it really make your job easier? For many real estate appraisers, the answer is a resounding yes. Software by Appraisers, for Appraisers SFREP...

Can We Stop Taking Comp Photos 65

Can We Stop Taking Comp Photos?

I personally do not think that appraisers should be required to take comp photos… First, before the hate mail starts rolling in, let me assure you that I understand the requirements surrounding comparable photos, and I do take them as an appraiser. I am not here to debate what the policies are, but I am here to question if those policies should be in place. I personally do not think that appraisers should be required to take comp photos. Modern technology has provided appraisers with a way to know as much about a property from the comfort of their own...

The Rumble of the Bifurcated Appraisal Train Before It Crashes 7

Do You Feel the Rumble?

“Can you hear that? Do your hear the rumble? It’s a train going 80 mph toward a 25 mph curve” There is an excellent article by Richard Hagar, SRA that hit everyone’s email yesterday from Working RE Magazine. The title of the article is Why “Bifurcated” Won’t Work. This is an excellent read and we ask that you take the time to read it and pass it along to all your contacts. Lots of great examples of why these products are a danger to not only appraisers, but to communities. See the article here. The pressure has begun…all they need...

White Swan Predicts that the Next Recession Is Inevitable 10

The Black Swan – Another Meltdown

Another Meltdown – The Inevitable Outcome of a White Swan: Why would we allow another Financial Meltdown to occur? …When revenues and profits decline, lenders and financial institutions throw caution to the wind and relax their once prudent lending policies in favor of more aggressive, inclusive policies… Hindsight has taught us that there is no serious consequence to imprudent lending policies. Perhaps a multi million dollar fine is assessed but that is just the small cost of doing business for some violators… Though more common now, especially in Australia, Europe, and  Asia, black swans (Cygnus atratus) were once thought to...

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