Yep. I’m in.

Just out of general interest, what does ‘bullet proofing a report’ mean for you?

For me it’s just not getting cornered in with prewritten and such. It’s one of those easy lessons from liability ce classes, if you say you’ve used said method, you’d better have used it. Leaving methodology statements open ended and generalized, simply admitting these are best of ability estimates, etc, seems to have worked for me. My general take on it is when appraisers over achieve, try to be too specific, that’s when they’re backed into a corner. So I definitely lean more to the art argument side, and am not afraid to use off the cuff estimates. I get better cost adjustment accuracy observing material and labor costs in the real world than I ever could reading data and graphs at the desk, engaging in pointless efforts to pair up sales or whatever. Like some guy once told me, if you want to be a great appraiser, spend more time at the hardware store.

Because comparative valuation is relative, any extrapolated market reaction figure can be countered with something else, so why bother extrapolating at all is my take. I review high /low, floor ceiling, general margins of difference, and then when narrowing down the segment, the adjustment pie is quite small with good matching comps somehow aligned, and voila, slap a few estimated adjusts and a fixed land and ppsf, generally in the fifth to quarter proportion range, condition and material relative difference estimates, all tied up. I like to call it nickle and dime adjustments. Metric, relative, disclosed as a reasonable market reaction estimate. Then I post all my mls research right there in the report. If anyone wants to make amazing graphs or dig into unnecessary micro or macro research, they can have at it. This works for me, it’s a reliable and on point approach which really truly follows the local market. Spend more time on initial research, less time in the grid. What are you guys doing?

It’s entertaining to hear these politicians and pundits try to explain exactly why appraisers are doing something wrong. When they don’t even understand what we’re doing in the first place. Like literally all they have is mass data extrapolation, and nothing individual or direct. We’re guilty of inferred racism via meaningless data extrapolation from excessive sized already poorly managed data systems. This lady said appraisers are using “Bad Data.” LOL, I’ve got a meme for that from a few years ago, rofl. I’m still hanging on the edge of my seat to learn how the data became bad in the first place. Popcorn moment, oh schnap, she actually said it! Among the other trife in that utterly pointless interview. It’s a; I may have lost intelligence even trying to watch that moment. But RACE! O.k., feeling better again, more balanced. You were born, just in time, to fight race war. Oh shucks, it’s ‘big data’ not bad data. Well, post it anyways why not, same thing in the end.

Source such a thing, I’ll readily sign. Check this out. Dude on the AF posted this, interesting.

https://violationtracker.goodjobsfirst.org/?major_industry=financial%20services&order=pen_year&sort=

PJTMC, you got me thinking, is the appraisal profession the only one supposedly not fairly represented by race?

Lets examine the legal community.
‘In 2020, 86% of all lawyers were non-Hispanic whites, a decline from 89% a decade ago. By comparison’ /

What’s more likely to affect an individuals ability to acquire as they put it; generational wealth, a criminal record or bad credit?
https://www.americanbar.org/groups/young_lawyers/projects/men-of-color/lawyer-demographics/

If the honest and ethical appraisers can not participate with the absolutely hands down largest client set on the planet… Walking away only provides limited term relief, this will catch up to everyone eventually.
https://www.findlaw.com/smallbusiness/business-laws-and-regulations/restraint-of-trade.html

How are prices set in an open market with a willing buyer and a willing seller? /
How does printing money, backed by nothing, affect the potential for generational wealth for all Americans? /
Whom is the primary beneficiary regarding ‘first receivers of money’? aka banks and other corporations, the welfare warfare state. /

Appraisers are not responsible for ‘the data’ which ‘the market’ presents to us. Is it possible to move only two doors over and suddenly flip from a black to a white community? Who’s buying that logical fallacy? Does she live near a Berlin wall sort of situation? Is there a natural obstruction like being on the other side of a river or highway? Sometimes I’m not sure these race focused people understand what they themselves are saying.

Fudge is being paid off as many of them are to start division among individuals & the govt to take over many industries slowly but surely. This is how these democrat marxist socialist communist work by lying the majority of the time. She is a fool and only cares about the money she is being paid to spread this bs. She and the rest of the individuals who think like she does need to get out of this country. She is a racist and a traitor. Until we start fighting back these traitors of our country, this will only get worse. This appraisers blog may not like the truth which is what I have typed in this post. You are part of the problem in our country and industry, if you can’t see what is going on. Do not stop others from telling the truth. WAKE UP!

IF every report developed by an appraiser supported in detail (as per FNMA guidance) the adjustments made for location, I feel this would steal the ammunition we are currently being shot with. Vague language like “more desirable” will not cut it, and should never have been acceptable. In every report that I make a location adjustment, I include a graph that shows the 3 year sales price trend for all areas being compared (this takes 30 seconds of extra work with basic templates, plus the time of analysis). The difference between (or lack thereof) is right there in print. If Market A has a historic 5% higher price (per sf, median, average) than Market B, then I have good support to exclude sales from there, or make an adjustment if a sale there is needed for the analysis. If a ROV comes across, I provide the same graph to defend why the marketability of the other area excludes the properties they’ve asked to be included. No comments on why… just cold hard facts. Sadly there are still appraisers who want to hang their hat on “experience” knowing the difference in markets – and while they might be right – that experience is easy to interpret as racial bias when parties are looking for a reason to shred the report.

We have to produce results that are credible and understandable to our intended users, and HUD by proxy is combing these report. 250 years of government sanctioned racism got us here, and as always, the government will look for the most defenseless party to pin the blame on (hence why continued racism in lending and NAR will get swept under the rug).

Bullet proof your report, because they’re gunning for us.

By the way, it was HUD that promulgated Redlining.

Did the property two doors away have a finished basement, was it totally updated, did it have a swimming pool, solar, HOA fees with amenities? Was it a totally different style property (two-story vs ranch). Tell us the entire story not just what you want people to hear to support the bogus racist narrative. Also, what was the time frame on the two appraisals?