Now to get to the crux of the matter regarding this blog and many others regarding CU. First I want to state I am not a sexist, racist, bigot or any of the terms that some will accuse me of, but I am not political correct either. Everyone must realize that appraisers are no different than anyone else, they are a product of their environment and upbringing which influences their views and perceptions. We all see things from a different prospective. If one appraisers has a background in construction and another has a background in interior design, it is very likely that they could disagree on the “Q” & “C” ratings of the same home. If one was raised in the inner city in a poor neighborhood and another raised in an upscale suburban neighborhood they could have different view of what a Q2, Q 3 or Q4 property or a C2, C3 or C4 rating is. This does not make either of these appraisers incorrect, it is just their opinion from a different prospective. The most important facts are knowledge of your local real estate market and the selection of good comparable sales and making the proper market driven adjustments.

Appraisal are about comparing the subject property to comparable sales of similar properties with similar amenities and market appeal within a similar market area. No one is better qualified to do this than a well trained professional with knowledge of the local real estate market in the local area. Let the appraiser do the job he/she was trained to do.

Personally I think the ONLY proper response to the CU generated “underwriter” questions is as follows:

“I have no idea why the adjustments or rating vary from your secretive processes weighted averages or regression data. When I inspected the comparables I developed my own opinions based on ALL available data. In making comparisons, I compared the comparables with the subject – not some unknown database.”

In the event that a human being has read the appraisal report and has a specific, legitimate basis for asking a question please let me know.

Otherwise, ask the CU why IT has failed to accurately measure data relevant to the subject and comparables.

You are absolutely right. Corrections, clarifications, revision requests, and keeping your AMC informed will take up the vast majority of the appraisers time from here on out. Like I said before: You are playing a game of chess against a super computer with your daily bet being your license and your livlihood. You can win in the short term but not over the long haul. If you aren’t blacklisted first, you will either burn out or go bankrupt doing the additional work. Nobody will survive this long term doing only residential appraisal work.

If you compare this to the U.S. manned space program of the 1960s we are now in the Mercury stage of allowing AVMs take over the profession. On the flip side, you may one day be able to tell your grandchildren that you were the last appraiser standing.

Best of luck guys! You’re going to need it.

“Now appraisers must conform to the opinions of other unknown persons, from unknown locations, of unknown competence.”

meaning, we also have (someone), from (somewhere far away from me), telling me they know my market better than me.

wait. i am sorry. i forgot. every market in the country is the same.

nevermind.