Smedley Dingledorf Takes the Job for $275
One of my lifetime best friends is Bart Simpson, who is an actual person. We grew up together from elementary school through high school but went our separate geographic ways to college. My other best friend during that era of my life was Harry Benson, who was also the key character in Michael Creighton‘s early best seller, “The Terminal Man” but that’s another story. Bart taught me how to ski and how to make plexiglass cookbook holders (hey it was the 70s). We spent our weekends riding bicycles everywhere, especially into D.C. on weekends to meticulously go through each of the Smithsonian museums – you could say we were sponges of random information. There must have been something borderline addictive in the Bethesda, Maryland water because we also both turned out to be real estate appraisers. He would tell me how he would leave messages to schedule appraisal inspections as “Mr. Simpson” because his full name caused many homeowners to think it was a crank call and not call him back.
Last week I posted an interview: The Apple Peeled – Ask the Experts: Market Dynamics with Jonathan Miller and Bart had something to say about it. He gave the most coherent spot-on description of the AMC situation most appraisers find themselves dealing with daily and yet these AMCs hire many of the lobbyists that have helped forge regulatory rule changes like the recent proposal that raises the de minimus to $400,000 without any concern for the consumer (or the taxpayer). Here is his perfect depiction of AMC interaction with appraisers:
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