Appraisers Blogs

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For the term "class Valuation".
Independent Fee Appraisers Under Attack 57

Independent Fee Appraisers Under Attack

Appraisers, I have reached my boiling point about the negative press ‘we’ Independent Fee Appraisers have been receiving for many months – concerning supposed ‘systemic racial bias.’ It’s been done on purpose by a particular group of individuals whose main strategic objective is to keep many citizens teetering on their toes, always on the defensive, while the perpetrators claim they’ve been oppressed. It’s part of a new ‘culture’ of divisiveness promulgated by negative promoting people hell bent on disrupting society. There is no ‘unity’ in what they are doing. Only attacks. These stories make it seem like ‘we’ Independent Fee...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Automated Valuation Models / AVM

The Other Side, Racism in Appraisals 26

The Other Side, Racism in Appraisals

…the other side of things, the appraiser profession side since no other news media and organizations are willing to do so… Note: The following blog article is not to defend anyone or to place blame. It is simply a blog looking at this issue from the other side of things, the side that hasn’t been discussed in the media. A couple weeks ago, I was privileged to speak on The National Real Estate Post about appraisal issues. One of the issues we discussed briefly was the ever-growing number of articles being written about allegations of racial discrimination in the appraisal...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Automated Valuation Models / AVM

Is Buying Property Near a Casino a Good Bet? 4

Is Buying Property Near a Casino a Good Bet?

Should you gamble on a home near a casino?… A house is probably the biggest single financial commitment that most people make in their lifetimes. So, when they do commit to a property, there are many questions that they need to ask themselves. The first is whether the price is fair for the property and, more to the point, whether the appraiser is going to agree with the market price that the sellers and buyers have agreed upon. This is especially important if the buyer is using a mortgage. If the appraiser’s valuation comes in lower, they’re going to have...

Appraisal / Appraisal News / Appraisers News

Statistically Supported Appraisal 14

Statistically Supported Appraisal

Lenders are convinced that a statistically supported appraisal is a more reliable valuation. Wow! Does anyone that understands the home valuation process really think a “statically supported” appraisal makes for a better quality report? This is not that hard to understand. What does “statically supported” really mean? It means you get a computerized report, similar to what Zillow or Trulia provides, based on the information in public records. Statistically speaking, the margins of error are frightening!!! Great products for entertainment, NOT for determining the value of your home. This all comes down to the Golden Rule. Lenders are looking for...

Appraisal / Appraisal News / Appraisers News / Online Estimates / Valuation Technology

Alleged Systemic Racism in Appraisal Myth 37

Alleged Systemic Racism in Appraisal Myth

In virtually every single case of alleged racism to hit the media recently, admitted staged events were in play. One could argue staging was necessary to identify if a valuation difference resulted from perceptions of what race the occupants are. Fair enough. Provided that the staging itself does not alter the value scenarios. Provided that the results are being honestly reported. I’m skeptical. I’ve researched each case as far as can reasonably be done from the information provided. The American Guild of Appraisers has also offered (repeatedly) to conduct thorough reviews of each and every appraisal involved in the reported...

AGA / AMC / American National Standards Institute / ANSI / Appraisal / Appraisal Management Companies

4 Uncontrollable Factors that Can Affect Home Appraisals 22

4 Uncontrollable Factors that Can Affect Home Appraisals

…some uncontrollable factors that come into play when determining the value of residential property… This article contains a range of false and misleading information. You can find a rebuttal here. There are many factors that can affect the valuation of a residential property. Some of these factors, such as the level of care and maintenance work that the homeowners carried out, can be controlled. There are also factors, such as racial biases, that may unknowingly appear in the picture. In recent years, some homeowners have reported that they received significantly higher valuations for their residential property once they eliminated traces...

Appraisal / Appraisal News / Appraisers News

REDFIN How Dare You! Reckless Dishonesty, Deception, & Misinformation 11

REDFIN How Dare You!

The following Redfin article is exceptionally offensive to everyone in the real estate business and related sectors, who actually know what they are talking about, to people that are not racists, and who are offended at being falsely called racists directly or by inference. Redfin Study: Homes in Black Neighborhoods Are Undervalued by an Average of $46,000 | Redfin Press Center REDFIN executives ought to know better than to permit their name to be associated with such levels of reckless dishonesty, deception, and misinformation. Hopefully, the marketplace will ‘reward’ them appropriately. Pay attention to the statements “after adjusting” for all...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Automated Valuation Models

Truisms - Taxes, Death... and Anti-Bias Training - Appraisers Blogs 8

Truisms – Taxes, Death… and Bias Training

…other states will also modify their appraisal license renewal CE class requirements to include some form of anti-bias training… Folks, I attended the ACTS Conference in Bay St. Louis, MS, sponsored by National Association of Appraisers, last week. While there, enjoying the interactions of ~150 attendees, a primary topic of conversations and presentations was the impending impact to appraisers regarding anti-bias training and bias attitudes. The onslaught of negative news articles, and legislation at state and federal venues was a direct result of the ‘hijacking’ of the Congressional Hearing in 2019 which was supposed to focus on “Appraisal Modernization.” Instead,...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

CPA Is Not Banned from Performing Services He's Qualified. Why Are We? 11

Why Are Appraisers Banned?

I just got out of an interesting conversation I had with my CPA. Eventually, our conversation veered onto the topic of work. I was curious about what it takes to get into his field (not that I’m interested in getting into it at all). We talked about our respective professions and about changes occurring in the real estate appraisal field. We got into talking about what it means to be a CPA, which is different than being an accountant. A CPA is an accountant, but an accountant isn’t always a CPA. He said anyone can hang up a shingle and...

Appraisal / Appraisal News / Appraisers News

Appraisers Are Sitting Ducks to Random Legislation 13

Appraisers Are Sitting Ducks to Random Legislation

Bill A5185 and AMC Bill A5146 introduced to the state legislature in New Jersey show just how much state legislators don’t understand the appraisal profession. Valuation Legal warned us about this back in December: Appraiser and AMC Laws to Include Prohibitions Against Discrimination. From Bill A5185: 2. a. Prior to the initiation of a residential property appraisal, a holder of a license or certification under P.L.1991, c.68 (C.45:14F-1 et seq.) or registration under P.L.2017, c.72 (C.45:14F-27 et al.) shall provide a property seller with a document, in a form and manner prescribed by the board, informing the property seller of...

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