Overwhelming Majority Are Against Hybrids
The next Virginia Real Estate Appraisal Board Meeting will be held on July 30th, 2019 @ 10:00 AM. This meeting will be a historic meeting as the board will be discussing the proposed hybrid appraisal guidance document and the corresponding 153 public comments. Also on the agenda, CoesterVMS is listed under the disciplinary cases!
Why is this meeting so important?
First, the 153 comments is the second highest amount of comments that have been made on any guidance document in the past year. The highest amount of comments on any proposed guidance document was by the Board of Health Professions in which 727 comments were received. In third place, a proposed guidance document issued by the Virginia Department of Health received 35 comments. All of the others received less than 5 comments.
So to summarize, the proposed hybrid appraisal guidance document is the only non health related guidance document to receive significant comments. Adding more importance to the proposed guidance document is the fact that all but 2 of the 153 comments were against hybrid appraisals, citing public trust concerns. That’s 98.7% of those who responded that are against these products.
If you have not had a chance to read the comments, it is highly recommended you take the time to do so. You can access the comments on Town Hall by clicking here.
VaCAP encourages all appraisers to attend this meeting and if you did not get an opportunity to comment on Town Hall, there will be a public comment period in which you can share you thoughts.