Well, lets take a look at their comparables. Actually just one because the orders are coming in before the holiday. First the subject is a 4/2/1 single family house built in 1920. They list the address of their comparables and wouldn’t know it one is a 5/3/2 sf house with an attached studio apartment built in 1930. Just have to give the next 6/3/1 sf house built in 1956. Realize that I’m giving you not much info., but you get the drift though.

This is just crazy! AVM’s are leading us to the next crash.

Fake news.

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One has to wonder why.

Hence the rub.  When one day we appraise a declining market rampant with reo, we literally will not be able to have a low risk assessment score on our reports, regardless of how good or how accurate of a report we have completed.  In weak markets, the CU system will likely penalize appraisers w/ time and unnecessary revision and clarification requests.  Also I’ve already noticed that underwriters will turn to unnecessary addition of scope or revision or clarification requests simply based on borrowers risky credit position.  This is pressure from a tech program, providing a system of negative rewards vs positive rewards, based on factors beyond our control.  Stipped, stipped again, nope not good enough yet.  Change this change that, explain this explain that, answer why your figures differ from our model figures you have no access to.  Justify your higher value position against previous ones, even though you are not allowed to review previous valuation reports or figures.  These tech tools are applied in a severely imbalanced manner.

Lorna, so are ALL values…at least in my state. Saying something is ‘based on‘ a tax doesn’t make it a valid method by itself. At best, that is only half the equation. Usually, it  is far less than that.

Big data, my rear end…if it worked the way they wanted it to, appraisers would have been gone by now.

They will NEVER get rid of appraisers….why you ask ???

Because they have someone with insurance to SUE.

Why do you think they use us ??? We see the sites, the properties, the neighborhood, the MLS…etc…

We protect them !!!

We THINK !!!  Computers DONT think !!!

At the time HVCC was imposed only a very few large AMCs existed. I recall LSI and ATM from the early 1990’s. Countrywide had its own Landsafe and Wells Fargo had Rels. Their history speaks for itself.

As HVCC was drafted, it’s clear intent was to facilitate very large Title Companies (like those in the size range of First American and a few others) establishing a monopoly over ALL appraisal orders.

Beyond that, I don’t think the intent was to side step USPAP; or deprive appraisers of reasonable fees. That’s merely an outgrowth of how large title companies think and operate. They do not care about appraiser rules or regulations that they do not understand, except to the extent that they have to be seen as paying lip service to compliance. I had first had knowledge of this in the early 1990’s both pre and post USPAP implementation.

These entities were and are so huge and so well entrenched and funded that I can think of no company or group of companies able to compete or offer alternative competitive services. I don’t believe any exist. (Pssst! FTC-Over here! )

( https://en.wikipedia.org/wiki/CoreLogic ) As a 1.5 BILLION dollar a year corporation they can well afford some of the the best politicians that money can buy; or that paid lobbyists can seduce.

It really is going to be an uphill battle.

i like a good challenge.

ALL appraisers should click and read the wiki link above. THAT is the face of the appraisers enemy and the most serious threat to the security of the nations financial structure we have ever seen.

Right now, they own ALL facets of the real estate transaction from str to finish AND the data that is used for all the traditional checks and balances…not to mention the software used to report it.