Art and science ! I recently had a real estate agent literally write a full package advertisement to convince appraiser of the art and science method to value. It was seriously labeled “art and science method”. Apparently, this is the new 4th approach to value! It said something like this…., ignore all comps between the subject and 35 miles and please just use this one sale because it has the cost per square foot we need. The art was the erasing of all sales nearby because nothing has ever, never, ever sold nearby, ever! The science was that the mileage could be calculated at 35 miles away, but to please ignore that. Maybe like a magic trick?

Sorry, had to take a moment and … sigh, enjoy the memory of why I love my job. I couldn’t resist. Carry on.

Well that, and greed. Overall mortgage lending volume is on the downturn, likely mid to long term. The independent appraisal position manifested itself through need and environment. These out of the box instant profit amc companies are having a difficult time adapting and tightening their belts. Rather than be fair and adapt, they would in typical vulture capitalistic form, take over the industry completely instead.

The appraiser has individual licensing accountability and for that reason cares about consumer protection and effective due process. The amc companies being corporations without individual accountability and no effective oversight, do not share similar concerns about adequate consumer protection and due process.

Appraisers are very well suited for doing before and after valuations. I wrote this with the idea that other appraisers could find another avenue of work they can provide. Appraisers are by their very definition, competent, independent, impartial and objective. Who wouldn’t want that type of person helping them with this type of problem?

Lane Leppink is overlooking the appraisers essential role as the only non advocate and often non commission based participator with substantial influence in the sales process.

Voila! The agents did their job correctly and our job was easier… Perspective is important, not all agents are all above board and such. Be careful what you wish for.

In being a trainee for 4 years in a large appraisal company Lane, I laid eyes on several thousand assignments where the focus was often the fringe issues (lessons to be learned), and thus obtained more experience prior to being able to sign a report on my own, compared to what the typical agent would sale in 5 lifetimes. When the national average is 70 hours to become an agent, please forgive us for double checking THEIR numbers.

Seek the truth.

Wish I was a fly on the wall as AMC’s attempt to work with realtors to get these inspections completed. I think they will soon be running to appraisers and say we are sorry we made a big mistake. Of course they would never admit to that.

It’s simply a better revenue stream. They could care less if the homeowner was put under water the day after settlement.

Your not an appraiser, are you ?

I’d rather see more effort placed on the valuation of properties where the client has no marketable title (ie: up and coming REO’s). Why is it still acceptable for Realtors to do valuations of properties that the client has no marketable interest in?