appraisal organizations - Appraisers Blogs

The Great Debate on Appraisal Fees

Isaac Peck — Mon, 28 Oct 2024 12:30:09 +0000

She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee paid by the borrower, which prompted her to stop working with AMCs because of the lack of transparency. The appraisal industry is abuzz with a discussion about appraisal fees. The Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information Regarding Fees Imposed in Residential Mortgage Transactions [Docket No. CFPB-2024-0021] in which it solicited feedback from the public and industry stakeholders on the fees charged to consumers by mortgage providers and related settlement services. The CFPB framed it as...

Appraisal Regulation Compliance Council Exposes… The Appraisal Regulation Compliance Council published a detailed breakdown to the CFPB, which showed the median average AMC fee being…
Lack of Fee Transparency: Exposing the AMC Exploitation By keeping the borrower in the dark about the true cost of the appraisal, the AMCs are able to charge…
AMCs Billing Scheme, Hidden Profits & Deceptive Practices Appraisers who do not agree to their hidden billing methods are excluded from the majority of the GSE lending marketplace…

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AI to Counter Flawed Appraiser Bias Narrative

AppraisersBlogs — Mon, 15 Apr 2024 12:30:07 +0000

In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science. Last week’s email from Cindy Chance, the CEO of the Appraisal Institute, marks an important and long overdue shift in the organization’s approach to addressing accusations of bias in the appraisal profession. For too long, appraisers have faced sweeping claims that their valuations are biased against certain groups, despite appraisers’ ethical standards, rigorous training, and lack of financial stake in transactions. As Chance acknowledges, the Institute should have done more to...

HUD Investigation Leads to Illegal Break-In &… Over the past four years, I have been subjected to a relentless, unjust investigation by the U.S. Department of Housing…
False Claims of Racism Against Appraiser ...my career, business, and health at risk due to false claims made by a homeowner. As a professional real estate…
NFHA's False Narrative Undermines the Appraisal Industry A barrage of billboards, magazine ads, and TV/radio public service announcements is being used to amplify and spread this false…

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Independent Fee Appraisers Under Attack

Dave Towne — Thu, 17 Jun 2021 12:30:03 +0000

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...

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…
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…
A Biased Line of Thinking This 'new' bias story really ticks me off. Click the link below to read it: When My Home Appraisal Came…

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Unlawful Restrictive Covenants

Dave Towne — Mon, 29 Mar 2021 12:30:35 +0000

What are racially restrictive covenants? Are racially restrictive covenants valid and enforceable?.. There has been considerable discussion about ‘bias’ applying to appraisals on forums, and elsewhere, since the Congressional hearing in 2019 where appraisers were blamed for racial bias by the rep from the Brookings Institute. That rep vilified appraisers as being the culprits in the lending process, which is mostly bogus. Unfortunately, now that the charge has been made, appraisers and appraisal organizations are now forced to play on the defensive side of the ball, rather than being proactive and disclosing what actually transpired, on offense. I sense appraisal...

Diatribes Against Appraisers What’s even more frustrating to me is none of the well-known appraiser organizations have offered any public rebuttal to any…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

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ASC, End the Foolishness Now

Michael Ford — Fri, 11 Dec 2020 13:30:31 +0000

End the constant ‘busy work’ USPAP updates. End the catering to lenders or ‘advisory’ councils. Appraisers are NOT supposed to be any of the things being demanded of us today EXCEPT good appraisers!… Return to a USPAP version (any version) that actually protected the Public Trust. That would be any version PRIOR to the revision of the terms appraisers and appraisals to “valuation & evaluators” (a term used only or at least primarily by the accounting profession historically). Dissolve The Appraisal Foundation (TAF). They effectively achieved the congressional objective mandated in ’89 long ago. Everything since has been the administrative...

Professional Opinions Can Never Be Replaced Professional OPINIONS have value that can never, repeat NEVER be replaced by automation... Earlier this week, George Dell's article titled…
TAF Counting on Appraisers to Foot the Bill From October 30, 2020 TAFAC meeting, TAF president Dave Bunton said: “Earlier this week the Foundation notified the ASC that…
TAF / ASB Challenge USPAP 30 days after implementation of the last changes, ASB/TAF is already admitting they think the current USPAP is inadequate and…

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Why is Only One Side of This Story Being Told?

Guest Author — Tue, 20 Oct 2020 12:30:03 +0000

There are always two sides to every story; however, understanding is a three-edged sword: your side, their side, and the truth in the middle. Recently there has been a wave of news stories about racism in the appraisal profession brought on by a couple in Jacksonville, Florida. That couple, Abena Horton, a black woman, and her husband Alex Horton, a white male, made claims that an appraiser who first appraised their home came in low on the appraisal due to her race. You can read one of the numerous stories here. Before anyone here accuses me of being racist etc.,...

Use of Census Data in AVM & Discrimination Every single appraisal any of us do has a census tract number as a required element. There are no exceptions…
Racial Bias Claims Without Proof or Logic The Appraisal Institute just sent a letter to The Appraisal Foundation to address things that have been floating out in…
Racial Bias: Redlining in the Modern Era ...are they behind this modern day redlining?... The broad definition of an algorithm according to Merriam Webster’s Dictionary is “a…

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Biden Claims on Racial Bias in Appraisals

VaCAP Board — Fri, 06 Mar 2020 13:30:59 +0000

Over the past week or so, Presidential Candidate Joe Biden publicly called for more regulation and oversight over appraisers to combat racial bias. He specifically cited the Brookings Institute Study ”The Devaluation of Assets in Black Neighborhoods, The Case of Residential Property”. If you are unfamiliar with this study, in a nutshell, the findings accuse appraisers of undervaluing properties in black neighborhoods. The study is an easy read and can be found here. We will warn you, much of the data used in the study carries very little weight as Census Bureau (self-reported data) and information from Zillow were used....

Is Race Baked into Big Data? Chicago appraiser and friend (even though she calls me “fancy pants”) writes a stellar explanation of what an appraiser actual…
Security Bars Removal Law Debunks Alleged Racial… Complainant stated appraiser told them they should remove security bars from windows. Complainant stated this is evidence of "racist discrimination"...…
Promoting False "Racist Appraiser" Narrative Some Lenders promoting false "racist appraiser" narrative to optimize profits via AVMs Like most businesses lenders want to optimize their…

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GAO to Investigate Appraisal Loopholes

VaCAP Board — Fri, 21 Feb 2020 13:30:32 +0000

…Arizona is seeking damages and penalties against CoesterVMS… GAO has agreed to complete the study… Maxine Waters and Congressman William Lacy Clay requested a formal study/investigation into Title XI (FIRREA) and the recent dilution of its intent by the Federal Agencies. VaCAP has learned GAO has agreed to complete the study. The Network of State Coalitions has sent the following to their state members: This is the result of so many voices – the Foundation, ASA, coalitions, NAR, etc. Our Network efforts have given us an inside connection that hopefully we can continue to build on. Our meeting in DC...

FIRREA Under Attack! ...the federal agencies charged with implementing Title XI of FIRREA have taken steps to limit the number of transactions for…
The Collective Rot Over 11,000 appraisers signed that petition... The US Congress completely ignored it and, as a result, The Great Real Estate Depression…
Coester Loses in Court! Gosh... I’m really sad to bring you this news (sarcasm). Brian Coester Loses in Court! About 2 years ago, Georgia…

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The Importance of Attending Live CE Classes

VaCAP Board — Mon, 06 Jan 2020 13:30:20 +0000

The most beneficial part of participating in live CE classes is what you learn from other professional appraisers attending… The Best Decision You Will Make in 2020! What was the one thing your parents answered your “Why” questions with that made you angry every time? You have probably said it to your own kids as well. “Because I said so” would get you every time. You knew you were never going to win that argument, whatever it was about. VaCAP is not going to tell you “Because I Said So”. But we are going to explain to you why you...

Veterans Administration on Hybrid Appraisals See the announcement by the Veterans Administration basically telling lenders and appraisal management companies we are going to protect our…
Are Appraisers Really Professional? 2019 is winding down with just one more day remaining. As we reflect on the past, the changes we have…
Bifurcation Policy Adopted By no means are we promoting bifurcated appraisal products... "Credible valuations of real property are critical to the health of…

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Why Do Business & Let Them off the Hook?

Mark Skapinetz — Wed, 18 Dec 2019 13:30:09 +0000

If it’s bad feedback and the people or companies are terrible to deal with, what are you complaining about if you choose to work with them?… “They are who we thought they were, and we let them off the hook.” That was the sound bite Dennis Green said after the Chicago Bears came back and beat the Arizona Cardinals in a football game in October 2006. It will forever go down as one of the best sound bites ever in NFL history and to this day its replayed over and over. To me, this quote is not only amazing (I’m...

Fannie's 'Equity' Plan: The Drinking Game What makes equity so invidious as a governing tenet is that it involves not just helping people of one racial…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…

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Competitors on State Appraisal Boards

VaCAP Board — Thu, 15 Aug 2019 12:30:11 +0000

Phil Crawford has a new Voice of Appraisal show. This is one of the best shows Phil has ever done. He touches on issues with Bifurcation, Board competitors and even mentions VaCAP and our “Other Side of Things” article that received a lot of attention on Appraisers Blogs last week. Phil encourages support for VaCAP President Pat Turner to be appointed to the Appraisal Standards Board. The show is 36 minutes, so please take the time to listen. You might even get a good laugh out of some of the humor displayed. Listen to the show below. Board Competitors? VaCap,...

Hybrids vs USPAP Scope of Work Rule Supporters of the bifurcated appraisal can claim scope of work till they are blue in the face... Appraisal Buzz published…
Stupid Appraiser Scenarios A business appraiser is asked to value a company, but the appraiser may not inspect the audited financial statements of…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

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Phony Low-Value Complaints

Michael Ford — Wed, 08 May 2019 12:30:25 +0000

ALL unintended users are specifically excluded from any right of reliance on this appraisal report… Recently, Mr. Steve Kahane, Board Member of the Association of Texas Appraisers (ATA) wrote a great article in WorkingRE. It included several suggestions for Texas to deal with it’s excessive number (70%-75%) of unfounded complaints against appraisers. An American Guild of Appraisers member in New Jersey who has twice faced this exact kind of complaint abuse reminded me of the article and concurred with its suggestions for his state. Fortunately for our member, New Jersey is not one of those relatively few ‘charge and win...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
Promoting False "Racist Appraiser" Narrative Some Lenders promoting false "racist appraiser" narrative to optimize profits via AVMs Like most businesses lenders want to optimize their…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…

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Consumer Protection Campaign Launched

VaCAP Board — Mon, 29 Apr 2019 12:30:04 +0000

VaCAP Launches Consumer Protection Campaign VaCAP is excited to launch a Consumer Protection Campaign! For months we prepped, we discussed, we negotiated, we wrote, we edited, wrote some more, edited some more… finally, we recorded. We have three 60 second consumer protection announcements airing on WRVA 1140 News Radio starting on Monday April 29th. The three consumer protection announcements will air randomly throughout the day for two weeks. WRVA 1140 News Radio live streams through Radio.com and iHeartRadio so anyone can tune in and listen. The consumer protection announcements will refer listeners to VaCAP’s website for more information where we have added a...

$599 Waiver to Save the Borrower Money? The consumer is being fed yet another lie! Remember when we heard an appraisal waiver will save the borrower money?…
Mueller REO Hybrid Appraisal Report Another Mueller Report has surfaced. The report is a Mueller REO Hybrid Appraisal Report and it was given to an…
Verisite Photo Appraisal Appraisal Photo Report for use on loans, pick and choose pictures... Is the Welcome Mat Down and the Door Opened…

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Mueller REO Hybrid Appraisal Report

VaCAP Board — Tue, 26 Mar 2019 12:30:58 +0000

Another Mueller Report has surfaced. The report is a Mueller REO Hybrid Appraisal Report and it was given to an appraiser as a sample. This one raises more questions than the last one! The photos from the property inspection do not tell the appraiser one thing. The photos are dark and the repairs the inspector states are needed, simply are not seen in the photos. It begs the question, does the appraiser have adequate information to complete a credible appraisal? Now take a look at the Mueller REO Hybrid Appraisal report. Pull up the report and follow along. Some things have...

Mueller Sample Report. You Decide! A recruiter for Mueller Services, Inc. (Mueller Reports) contacted a VaCAP member about joining their team as a W-2 employee…
Let Appraisers Train Their Own Inspectors If we are to make a third party inspector liable for the data they provide... FNMA's recent newsletter states that…
I'd Be Better off at McDonalds ...they provide no documentation as to how their algorithm produces this indicated value... I had to "jump in the pool"…

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Standing With Us Protecting Consumers!

VaCAP Board — Fri, 15 Feb 2019 13:30:57 +0000

…average costs and appraisal turnaround times are minimal… VaCAP joins 29 State Appraisal Organizations in opposing an increase in the appraisal threshold. Behind the scenes, VaCAP and the Network have been working with Constantine Cannon LLP on drafting a formal comment on the proposed appraisal threshold increase from $250,000 to $400,000. The result is very thorough and factual. Each state organization contributed facts, figures and scenarios and Constantine Cannon compiled it all referencing current law and prior attempts of increasing the threshold. VaCAP is proud of the work that has been accomplished and proud to be part of a Network...

AGA Objects De Minimis Increase Proposal We object to the proposal to increase the de minimis threshold at which no appraisal is required... Sirs: The American…
It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…

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Who Is Really on Your Side?

Mark Skapinetz — Mon, 21 Jan 2019 13:30:17 +0000

The AGA wants to make that change. Do you? We have all seen the the commercials for Nationwide Insurance and that they are on your side. As real estate appraisers do we know who is really on our side? There are so many organizations that represent appraisers. Many claim to help appraisers, many do help appraisers, many are out there to fight for appraisers, many offer education and many just want us to join them in their own agenda journey made up of false narrative and false promises. I’m not here to force you to join anything. I support the...

Big Battles Ahead for Appraisers ...complete elimination of appraisal as part of their fully automated loan processing objectives... Our work as appraisers & appraisal issue…
Closed for Business, Sorry Folks! For those who are not familiar with what an AMC is, it is short for Appraisal Management Company. They are…
AGA Objects De Minimis Increase Proposal We object to the proposal to increase the de minimis threshold at which no appraisal is required... Sirs: The American…

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Appraisers Tell Their Stories at AppraiserFest

VaCAP Board — Wed, 07 Nov 2018 13:30:12 +0000

The entire presentation was filmed and many appraisers were interviewed to tell their stories… Wow…That About Sums it Up! The first ever AppraiserFest has come and gone. Elliot Eisenberg, Bill Black, Jonathan Miller, Ryan Lundquist, and Maureen Sweeney all on one stage; it does not get better than that! This will be a tough act to follow. VaCAP was represented by three Executive Board members and several other members. There were several others from Virginia as well. From as far as Alaska, appraisers came to listen, learn and participate. The central theme of the conference was appraisers; specifically why you...

The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
When ‘Protected’ Becomes Pressure: You Have Until… The new fair‑housing course weaponizes protected characteristics to pressure appraisers into outcome‑driven valuation, directly contradicting USPAP’s prohibition on advocacy. The…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

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1, 2, 3… Let’s Go!

VaCAP Board — Mon, 10 Sep 2018 12:30:01 +0000

Your Executive Committee met last week to discuss future events and issues that impact us all in our day to day lives as professional Appraisers. Everyone of us is an unpaid volunteer working for you on issues that you may not even be aware of. Bernie Bugg and I met with the president and director of WRVA radio to see how we get our story out there. They were surprised and shocked to hear what is going on in the mortgage Appraisal world. They see the looming potential dangers. We are in negotiations with them now. It looks very promising! VaCAP memberships/website address (appraiser...

How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…

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Decisions, Decisions, Decisions….

Guest Author — Thu, 06 Sep 2018 12:30:14 +0000

Each and every day we make decisions. Sometimes we base our decisions on sound, unbiased information, other times we may base our decisions on no information what so ever and are solely based on our opinions and perception. Right or wrong, we make a decision. Appraisers utilize sound unbiased information as well as our opinions and perceptions to complete appraisals. Markets are always changing and often historical data only represents just that, historical information. Historical data does not consider what is happening currently or what has been proposed for the future; both of which play an important role in how the...

Need for Speed? Hybrids are NOT the Answer! ...surveys indicate that appraisals ordered directly by lenders take much less time... Dear Colleagues, There is a current narrative that…
Reality vs Positivity Read any sales training publication and you will learn about positivity and how it helps you succeed. For the most…
Waiving Appraisals & Lowering Appraisal Standards Freddie getting aggressive in waiving appraisals & promoting appraisal free mortgages... Appraisers, Yes, I have a ‘dog in the fight’…

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Garbage Replacing Appraisers?

Guest Author — Wed, 02 May 2018 12:30:06 +0000

If appraisers were to embrace such garbage, would the demise of this technology be sooner? …14.53 million dollar loss in 2017… Hey Clarocity, Give it up. It is time to face the facts! From Clarocity Public Financial Statements: 14.53 million dollar loss in 2017 9.49 million dollar loss in 2016 13.00 million dollar loss in 2015 5.43 million dollar loss in 2014 6.82 Million dollar loss 2013 4.95 million dollar loss in 2012 0.36 million dollar loss in 2011 1.19 million dollar loss in 2010 0.86 million dollar loss in 2009 44.8 million dollar loss in 2008 The 2017 Clarocity’s...

Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

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appraisal organizations - Appraisers Blogs

The Great Debate on Appraisal Fees

Related Posts:

AI to Counter Flawed Appraiser Bias Narrative

Related Posts:

Independent Fee Appraisers Under Attack

Related Posts:

Unlawful Restrictive Covenants

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ASC, End the Foolishness Now

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Why is Only One Side of This Story Being Told?

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Biden Claims on Racial Bias in Appraisals

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GAO to Investigate Appraisal Loopholes

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The Importance of Attending Live CE Classes

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Why Do Business & Let Them off the Hook?

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Competitors on State Appraisal Boards

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Phony Low-Value Complaints

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Consumer Protection Campaign Launched

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Mueller REO Hybrid Appraisal Report

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Standing With Us Protecting Consumers!

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Who Is Really on Your Side?

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Appraisers Tell Their Stories at AppraiserFest

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1, 2, 3… Let’s Go!

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Decisions, Decisions, Decisions….

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Garbage Replacing Appraisers?

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