“Inspections will require you to do a complete walk around the property and climb the roof to document damaged and undamaged areas. This is a great opportunity for Home Inspectors and Appraisers to fill in additional appointments throughout the week. The range of payments for these assignments is $89 to $145 per file. “

Climb the roof? Lololol. Sure. Great opportunity. Not. Will they pay for workers Comp?

required technology. A cellphone

OK! Hummell I (SRA) a MAI, a lesser, representative of the Appraisal Institute. They have never respected the residential appraiser profession.

Crazy wealth.

‘Nuff said.

Say a lie enough times….

Wrong! John J criticizes Hummel in one of his comments:

“I find it very ironic that Alan Hummel, a chief appraiser at an AMC is stating there is no appraiser shortage. It just supports the fact the “shortage” was a fabrication.”

The author is: Hummell I(SRA) a MAI, a lesser, representative of the Appraisal Institute. They have never respected the residential appraiser profession.

Technology will leave you all jobless and I CAN’T WAIT.

Have fun becoming fossils, and even so… pretty soon people won’t even pump you as gas.

Get over your ego, and get to work.

 “I can remember when it was the AI (AIREA) and Society of Real Estate Appraisers that both promoted and adhered to a “Uniform Standards of Professional Practice” long before FIRREA. ”

The appraisal institute has never respected the residential appraisal profession!  For years they had a lock on the commercial appraisal profession providing shoddy, made-as-instructed appraisals to banks.  The Society joined the appraisal institute because they thought they could do the same with the residential side. Neither one of these organizations gives a crap about the industry, only their membership.

Great Josh!

Btw to all lazy appraisers that include their built in software  “support for adjustments” and trend analyses or better yet its own AVM that contradicts your conclusion YOU ARE KILLING OUR PROFESSION!

If the AVM or big data is where I get my support from then WHY does the client need me at all? Why the heck would I include automated data products from Bradford (Clickforms); ala Mode (Total and whatever) or ACI that all comes from CoreLogic owned data services in the first place?

Do I really want their idea of comparable ranking or relevance weighting in my appraisal report? We are already hearing about appraisers being asked to explain why their results differ from the software vendor’s add on data.

The software whores catered to lenders and anyone else with two bits ($0.25) after the URAR was created. That’s why we have so many varied and custom required forms these days. The entire purpose of the URAR has been long forgotten.

Just as USPAP is being forgotten today.

Jeff, much truth in what you say but one correction. Both AGA and ASA “lobby”. The challenge with lobbying via paid professionals is that they charge ‘by the issue’ and each issue can take from one to four years or even longer. In the mean time counter-interests are lobbying other issues…and they spend far more than we could ever spend. The fact that appraisers cant even agree on which SINGLE issue is most important to them also dilutes our collective efforts.

Look how well VaCAP did when they focused strictly on C&R fees. AFTERWARD, they could move on to other pressing issues. The same holds true in other states that worked toward C&R. Now the other side has apparently successfully bamboozled (or corrupted) the only two FTC Commissioners still on it’s Board.

It does not help that the AI has apparently adopted as official policy, an embracing of all things “big Data” and or hybrid; and sees their future in running or managing AMCs. Sadly, I can remember when it was the AI (AIREA) and Society of Real Estate Appraisers that both promoted and adhered to a “Uniform Standards of Professional Practice” long before FIRREA. I never expected that they would be the leaders in the fight to adopt ‘alternative standards’.

We are down to less than 76,000 appraisers nationally now. GSEs have ALL embraced alternatives to appraisals and the federal government is pretending that reversing ALL prudent appraisal and financial system protection laws will somehow have a different result this time than the last two times.

As a taxpayer, I can only pray that the Fed cuts FNMA and Freddie loose sooner rather than later AND announces that there will NEVER again be a bailout of them or their insurers. We have not been this reckless with the national economy since the mid 1920’s!.

I’m ‘sure’ that because of Big Data the results will be different this time, don’t you all agree?

Dave, you and others like you are that voice. Regulators read this blog. Keep posting!

Also, other respected associations follow as well. ASA is still out there working for what it perceives to be the honest best interests of appraisers. They do good work.

VaCAP is out there speaking regularly. LA and NC proved THEY are doing something…now if we can just end the outright corruption 9or indefensible ignorance) in the FTC!

I’m doing a retrospective appraisal for tax compliance purposes. I wont discuss the subject but we can talk about the three most appropriate comparables (all things, including IRS/Treasury Regs considered).

Sale 1 actually sold 5/15/2017 for $2,525,000 after 9 total days on market. Multiple offers. With the benefit of 20/20 hindsight CoreLogic’s “RealAVM(tm)” says this comparable is worth $2,434, 945 effective 7/13/2017 [not too bad for an avm!] in a range of from $2,167,101 to $2,702,789 [HORRIBLE!!!]. They claim a confidence score of 82 and a ‘forecast’ standard deviation of 11 but we don’t know if that’s for the point value or the range.

Sale 2 sold 2/28/2017 for $1,410,000 as a fixer to a developer after 101 days while he arranged his 173% LTV purchase and construction financing. All cash to seller. Habitable house but it really sold for its ability to be expanded by 1,000 sf & “renovated as new” for future resale a over 3.5 million).

20/20; CoreLogic hindsight says its worth $1,342,090 on 7/13/2017 in a range from $1,060,251 to $1,623,929. Confidence score 68 and ‘forecast’ standard deviation of 21. [tight , isn’t it? Anyone think ANY of these numbers are helpful or fair to a seller/buyer/client?].

Sale 3 actual sale price $2,220,000 on 2/19/2017 (8 days on market -multiple offers) and with 20/20 hindsight CoreLogic says its worth $2,242,390 on 7/13/2017 [“reasonable, EXCEPT the market has already bumped up 5% to10% in that sub area from original sale date to CoreLogic date]. Range? $1,906,032 to $2,578,749 Confidence rating is 74 and forecast standard deviation is 15.

Subject and 2 of 3 sales are high demand Spanish; 2 is a pseudo Tudor. HIGH adjustments for condition (subject also a fixer); and lot sizes. This area is the Westwood area of Los Angeles (90024) near UCLA; Miracle Mile, Wadsworth VA, Getty Museum, Beverly Hills adjacent etc, etc.. The comparables AFTER my effective date show market is strongly appreciating in a very short period of time.

From the information shown WHICH numbers is the lender that uses an AVM going to use for the actual sales (or even subsequent refinances)? The AVM accidently obtained a ‘reasonable’ point value 2 out of 3 times BUT in 2 of the 3 cases the borrowers still would have needed $90k and $67k more cash to complete their deals IF Cores “logic” had been used. While Im actually appraising another property, there is SO much support for the sale prices of each comp at or above sales prices that it would be inexcusable to appraise any lower than they sold for.

By the way, there is also much current support for numbers between the actual prices and higher end of range prices as of July 2017 for these comparables. So where did the lower end of range numbers come from?

Lets assume I have good reason for including the one lower (fixer) sale and pretend we are the lender using the AVM for financing each comps transaction as if they were the subject. What’s the impact to the consumer and taxpayer? Heck, what is the number to be used for a loan in the first place?

Sounds like you have a whistle blower suit.  Big money, keep it to yourself and conslult a qui tam attorney

Never heard of the software and such you speak of bro. That’s because I’ve long since removed myself from presentation to objectionable companies. I’m fine giving an amc a try out now and then and picking up a straggler every so often. Staying in business and doubling my effective income did however require some new thinking, some better marketing, and concerted long game efforts to cut out the middle man. This is an interesting time in appraisal; Half of our income has been redirected to middle men. This can work to the appraisers advantage well, all you need to do is cut out the middle man. Tracking appraisers performance stats seems like a racket, much like credit management. By providing unrealistic expectations there is always a ready excuse to deny the credibility of the appraisers being worked with. Round robin distribution is the only effective assignment criteria in the larger picture for majority of suburban and urban orders out there. Don’t get me started on how Mercury does not offer that, they’re focused on mirroring amc management protocols at the moment.

Make my day, and describe association with Corelogic and First American……  It’s only a matter of time.

Well Dave, you are the force which drives the free market. It’s counter intuitive to continue to participate with objectionable companies. Complaining while participating is meaningless because what drives the free market is willing participation, or the absence of that. There is no greater objection than absence. I don’t understand how you guys even have time for amc’s. I just by passed every one of them, solicited and appealed to lenders directly, and acquired a little safe space which is vital to my continued business presence in the free market.