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For the term "clear val".
Dear HUD... the Word Extortion Comes to Mind. What's Your End Game? 7

DEAR HUD… What’s Your End Game?

Dear HUD, recently, within the past year or so, you have been on a crusade to prove discrimination and racism in the appraisal process. Your actions haven’t gone unnoticed by many within the appraisal profession as well as outside it. It’s become clear that you are the go to organization for complaints. Ok. Please read this in its entirety and see my thoughts at the end before making a judgement. The reason I am writing you this letter is for a couple of reasons. First and foremost, I am writing this letter to ask you what your TRUE intentions are...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

The Appraisal Foundation Is About To Get PAVEd 13

TAF Is About To Get PAVEd

The current administration is addressing the lack of diversity in housing valuation head-on with the formation of an interagency task force on Property Appraisal and Valuation Equity (PAVE). Here are the details of the PAVE Task Force. They just had their first meeting and this is a serious effort unlike the silliness of TAF’s bureaucratic actions of the past year that were nothing more than window dressing to the lack of diversity problem within the appraisal industry. Incidentally, The Appraisal Foundation is not part of PAVE Task Force. Keep that in mind when you read their bat-shit crazy letter again and think about the fact that...

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Objective Terminology - Avoiding problematic phrases - Appraisers Blogs 6

Objective Terminology

  Appraisers should avoid using words that lend themselves to bias judgments. Instead, the appraisal report should document objective facts. “Bias” in appraisals has been a ‘hot topic’ around nationwide water coolers since about 2018, and even earlier. The GSE’s are particularly wary of any commentary in appraisal reports that appear to inject ‘bias’ into the value conclusion. In the June ’21 FNMA Appraiser Update newsletter, there is this article: Avoiding problematic phrases Stories in the media about racial bias in appraisals have been on the rise. The Uniform Standards of Professional Appraisal Practice (USPAP) expects appraisers to “not perform...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Uniform Standards of Professional Appraisal Practice / USPAP

Bringing Back the Lost Art of Relationship Building - AppraisersBlogs 13

Relationships… The Lost Art

Relationships. It’s a lost art of business when it comes to the appraiser profession… I have been an appraiser since 2003, when I started my career path. Since then, the appraiser profession has gone through many changes, none more impactful than creating the Home Valuation Code of Conduct or HVCC law that was put into effect after the crash. HVCC created the new normal for the profession where Appraisal Management Companies (AMCs) were installed as the firewall or third party between the appraiser and the lender. Overnight on May 1st, 2009, appraisers all over the country lost every relationship they...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Time Adjustment Methods... How Do You Time Adjust? - Appraisers Blogs 1

How Do You Time Adjust?

I was able to sort time adjustment methods by data source used (mostly compiled, published reports) and by the analytic used… Time adjustments is a timely topic. Recent ski-jump rises in prices have been ramp-ant in many places. Valuemetrics.info provided a free, two-hour webinar on the topic, and we had almost exactly 1000 appraisers sign up. (Although many did not show – free, you know.) Prior to the webinar, I asked some reviewers about how appraisers were handling the price changes. Also, my friend Steve Smith raised the question on his National Appraisers Forum (NAF) to see what sources they are using to support time...

1004MC / Appraisal / Appraisal News / Appraisers News

Racial Bias in Real Estate: Is it the Property Appraisers’ Fault? 17

Racial Bias in Real Estate: Is it the Appraisers’ Fault?

In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the part of real property appraisers providing appraisal services to lenders who provide home mortgages. These academics do not fully understand various types of valuation specialties, the appraisers who practice in these specialties, and the myriad of laws that must be followed. Help is needed to explain the appraisal industry, including the specialties and the types of reports. An understanding of the different components of the appraisal industry is necessary to assist various academics, journalists, the media, the public, and the public...

Appraisal / Appraisal News / Appraisal Subcommittee / Appraisers News / ASC / Automated Valuation Models

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

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

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

USPAP one year extension 1

Reason Why USPAP Was Extended

What is the actual reason USPAP was extended without warning for an additional year? Don’t get me wrong. I am all for longer USPAP cycles or doing updates on an as-needed basis in an industry that changes very little. As I’ve mentioned before, Dave Bunton of TAF said during the ASB public call on February 19th that USPAP was extended another year because of COVID – yet that makes no sense. Zoom calls are ubiquitous these days, so COVID is not a legitimate reason – we can argue that TAF is MORE efficient with Zoom. I bring this up specifically...

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