What they don’t seem to understand is the concept of market value itself. Because without a benchmark, there is no reliable value basis. If there is manipulation of end point sale prices based on something other than the pure market conditions imposed by a willing buyer and willing seller, aka private contracts, the influence of the value manipulation will quickly accelerate. Like domino’s, if a subsidy is applied in one location among a set of houses, applied repeatedly, there will be very rapid price acceleration. Because the benchmark to market value is constantly re established higher and higher with each new passing sale instance. That’s is called flipping and can be achieved by way of strawman buyers and deceptive practices, it’s a financial criminals dream to operate that way legally. Just use shell companies to flip the prices higher a few times, then cash out and dump the debt on an unsuspecting set of buyers and their lenders before the market crashes. The more properties you can flip at any given time, the greater your profit will be. Of course they will be gambling with other peoples money with some ponzi investment scheme or the likes, courtesy of GSE’s overly lax lending policies. To apply a negative amount multiplier as you suggest is clearly unconstitutional and that would be easily stopped through judicial process. But they do continue to get away with manipulated market gains.

They have a dream of manipulating the market for quote unquote more equitable outcomes, but the results will be exactly the opposite of what they expect to achieve. Rapid over valuation will become the norm and as that is the very definition of a market bubble, it will eventually pop and people will experience substantial losses, much more so than if the government had not sought to influence otherwise pure market conditions. Our conditions however are not pure, as an artificially low lending rate with an insane rapid expansion of the fiat dollar has already blew up an unsustainable higher housing cost nationally.

Lets consider a different metric. Of all those legislators, and all the special interest bankers they represent, all the lawyers and lobbyists they employ, what is the housing ownership ratio in that group? I’d bet it’s pretty high with disproportionate income to boot. That is because they are the first receivers of newly created fed fiat dollars. Quantitative easing via monetary expansion is counterfeiting and legalized theft, they’re devaluing the currency in a prosperity through debt program, but what’s new?

As they seek to codify an ever expanding higher housing price to mask and conceal their fiat money schemes and accelerated monetary counterfeiting. They’re trying to bury QE in housing, but it’s not working and is about to pop, inflation proves it. They want and need a market crash to cover up how badly the monetary system has been mismanaged. They’ll continue to do this over and over and over again until we fix the money itself by tying the primary money supply back to tangible non manipulatable physical commodity. Gold and silver comes to mind. Article 1 Section X.

Racism has nothing to do with housing values today but makes for an excellent emotional distraction. To posture that the actions of market manipulation in the past continue to linger today if we have corrected the previous manipulation barriers, it’s absurd. The markets have long since corrected, minorities are not denied access to housing anywhere, not denied education anywhere, not denied employment anywhere. The correction has already happened, the current conditions are the true markets which the people themselves have established with their willing back and forth housing purchases and sales. The verdict is in, most people prioritize affordability over high prices. End of story. That’s all she wrote. Dare to ask the question; What exactly is wrong with lower prices? In times of plenty and economic stability, prices are supposed to come down, not go up. Enjoy the show, it won’t be long know and I hope you’re saving and staying thrifty. Because everything from pensions to 401k’s to all housing value could very well get cut in half while cost of goods and services continues to increase as we catch up to QE, which by the way expanded the monetary supply to unprecedented levels in the past 2 years. Half of it was captured by international criminals, they just gave all the value of the dollar away. There is no turning back.

Amen!

They just need to let us know what is equitable, because believe me that is the new standard. I couldn’t see what the appraiser mentioned in the lawsuit did that was so terrible. She appraised the home using comparables from the subject’s city. The other appraisers came to higher values using comparables from another city. Both of the cities mentioned are quite different. Apparently, if the identical home sells next door to your subject, you should toss it out and look for higher value indicators in another city.

All I’m asking of the regulators is, “What do you really want us to do?” Just let us know so we can play along.

Juliana, You can ignore politics, but politics will not ignore you. Too many good people sat by why Marxist ideologues captured our institutions over the past 60 years because “it couldn’t happen here”. This attack on appraisers is part of the endgame. Hopefully it is not too late. Ayn Rand warned us 60 years ago the “We are fast approaching the stage…where the government is free to do anything it pleases, while the citizens may act only by permission.” We are there now. “Racism” is just a smoke-screen for their relentless advance.

If you don’t think this is politically driven you are mistaken. The roots of this are much deeper than a few differing appraisals.

Mark, I agree with many of your points, but why must we turn this into a political discussion? The problem on both sides is lack of understanding. Please don’t prescribe divisions where none exist. Yes, the current administration is democratic, but I believe we would be having similar discussions no matter who won the election.

For sure, that’s why we’ve got a first edition print on the night stand. Try some censored groups. AAPS Online dot org. Americans for responsible tech dot org. The vaccine reaction dot org. / I’m off topic, sorry. Just had to share it was too good of a piece. And apparently it’s not over, pushing renewed mandates in CO just today. Stupid.

Is there a way for appraisers to challenge the leadership in our industry for replacement? I’m not familiar with AI, but imagine the mechanism like a quorum or something is there in the by laws. Posted below. Leadership is failing, they should have cut this false appraisers are racist narrative off well over a year ago. I have no faith in these groups whom did nothing about amc’s over the past decade. This is the result of failing to reign in amc’s, they were eagerly standing by to adopt whatever narrative which came forth, that would give amc’s even more power, and appraisers even less. Vultures.

Thank you for the kind words and link. I would suggest the RFK, Jr. book The Real Anthony Fauci that is a soul-crushing summary of that troll’s career. That these people are able to commit crimes, lie, kill and get praised for it by a corrupt corporate media for decades is mind-numbing.

Related.
https://appraisersblogs.com/how-2-destroy-the-appraisal-profession-government-101
https://www.appraisersguild.org/contact_aga.php
https://skaptheappraiser.net/
https://www.appraisalinstitute.org/assets/1/7/bylaws.pdf

Excellent, and real estate is not the only industry in which these nefarious trends are occurring. It’s happening to a much greater degree in medicine right now. Mr Davis, you will find this piece very interesting, please read.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9062939/

Excellent insight Hank. The land value should always be stated within the cost section, even if the cost approach is not completed. As assessors are in the arrears, and often have a good take on land to home value ratios, the assessed land value is usually reliable and can simply be brought current to mv based on simple review of assessed mv vs current mv, that ratio being applied to the land portion for a reasonable current land value estimate. Land value is important to appraisers as a data qualification step. But land value is also important to lenders and insurers, which the lender often lines up required home owner insurance, especially for first timers. It just happens, you’re into the first home, insurance, mortgage, closing, keys, and then where to store all the paperwork. Reliable land value estimates for developed real property may help the lender and investors more clearly define a myriad of other important metric points, too many to mention, process efficiency now and then too. Never skip the land value entry.

Many do not understand basic appraisal theory and it can be frightening. I often call them on it and some understand but others have a hair across their ass and they are the ones we remove from our appraisal panel.

HK, if you want to be a social worker than get the heck out of appraising. I do not need to read a book to know that slavery was wrong. Nor do I need to take a diversity class to know that the most diverse countries tend to be the most violent with clashing cultures, see the Balkans or sub-Saharan African countries as opposed to the Nordic countries or Japan which are very homogeneous. If you want to drink the cool-aid of bias first read some Thomas Sowell, a man that has studied cultures and discrimination and is by the way a black scholar, economist and philosopher.

No, not really. Because I’m awesome and am the best in my current form right here and right now. Your assumptions are not founded in reality, take that rhetoric back to twitter. You see the world through a color coded lens due to your own inadequacies and personal identity shortcomings. Other people don’t operate that way or perceive the world or other people that way. We are not complaining about access in the country which has generated the most astounding opportunities in human history. We do however complain about predatory practices where people use the force of government to push other people around. And thank you for the presumption we’re all just plainly not educated on history.

You know what’s ridiculous? Blaming today’s practicing appraisers for the economic consequences of over a hundred years of predatory lending and predatory money management process, courtesy of the federal reserve. 100 years of not being federal, and not having any reserves. Stop pushing everyone around and calling strangers racist. Back to the basics I guess. Price is not the same thing as value. The money in your pocket was forcefully devalued by mega corporations whom just got richer, in the time it took you to read this post. Get your mind around it and stop picking on regular citizens who’s 1099 earnings often are not even equivalent to entry level positions. Bait, meet the hook.