Tagged: education

September 8, 2021

Opinion, Estimate, or Prediction?

Join George Dell & Craig Gilbert for a free 2-hour webinar on Market Price Indexing: For Peaking Prices… Price indexing is also known by other words, such as time adjustments or market conditions adjustments or trend analysis. A number of techniques have been recommended over the years. Most are flawed. Oddly, the algorithm mechanics of calculating are fairly simple and intuitive. Best of all, once done correctly, the payoff is really high: You effectively increase the data available for comparison. For example, a very similar property is perfect, but is say 20 months ago, it becomes your best comp. It makes other adjustments easier to...

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

Passing State Laws Mandating Fair Housing Continuing Ed for Appraisers

March 1, 2021

Blaming, Punishing Appraisers in State Laws

Will the same states that do this for appraisers also mandate similar Fair Housing and Fair Lending courses for lenders, loan officers, mortgage bankers… Are you aware that US States are beginning to ‘require’ appraisers take required courses in how to treat people fairly, by requiring such a class for every license renewal period?? Here’s the law from New York state: 19 NYCRR § 1107.2. is amended as follows: Section 1107.2. Individual continuing education requirements (a) For State license and certification periods that commence on or after January 1, 2000, real estate appraisers and real estate appraiser assistants who hold...

Appraisal / Appraisal News / Appraisers News / Trending / Uniform Standards of Professional Appraisal Practice / USPAP

ASC, End the Foolishness. Federalize Appraisal Regulation & Enforcement

December 11, 2020

ASC, End the Foolishness Now

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...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News

We Need Software which Enables & Empowers the Analyst... the Appraiser

January 10, 2020

What Skills Do I Need Now?

Analyst software focuses on analysis – sorting, classifying, comparing, and associating data to turn it into useful information… New technologies require new skills. The bad news is that new data science skills are not taught in appraiser education. The good news is that the new technologies are things an appraiser can sell. Let’s look at the good news! Data science skills include the ability to: Identify the relevant data. Turn the data into useful knowledge. Express the analytic flow to a customer. Who can best collect, analyze, and explain an analysis? Well, it takes someone who understands the subject (the market), the analytics (algorithms), and communication (visuals and summaries). Machines...

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

January 6, 2020

The Importance of Attending Live CE Classes

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...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / AQB / The Appraiser Qualifications Board

December 31, 2019

Are Appraisers Really Professional?

2019 is winding down with just one more day remaining. As we reflect on the past, the changes we have seen and the growth we have endured, our hearts are warmed with the accomplishments we have obtained. Appraisers are no longer sitting back and letting others dictate our future. Have we won every battle, no; but our voices are being heard and our regulators are taking notice. Legislators, consumer groups and even Realtors are speaking up in favor of the licensed professional appraiser. This begs the question, are appraisers really professional? According to Webster’s Third International Dictionary a profession is...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Uniform Standards of Professional Appraisal Practice / USPAP

Think It's Okay to Do Bifurcated Hybrids? Georgia Fines Hybrid Appraiser!

101

December 2, 2019

Georgia Fines Clear Value Hybrid Appraiser

So, do you think it’s ok to do bifurcated hybrids? On January 31, 2018, what appeared to be egregiously deficient Clear Capital “Clear Value” bifurcated hybrids were exposed in AppraisersBlogs. See What IS a “ClearVal Appraisal”? The properties were in Georgia. The appraisals were performed on a desktop basis by an appraiser in Indiana. Total fee was $250. Out of that $250, AMC Fee was $225, and the Indiana desktop appraiser was paid $25.00. Keep that fee in mind as you read through the attachments. Two complaints were filed by AGA™. One with the State of Indiana, and one with...

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

September 20, 2019

Can Smart Appraisers Make Dumb Mistakes?

I am a smart and educated, award-winning appraiser. It is not possible for me to be irrational. Of course not. You can see that. I can see that. A high IQ and education won’t necessarily protect you from highly irrational behavior — and it may sometimes amplify your errors. ~David Robson, in an Excerpt from The Intelligence Trap Oh No! Who is this guy!? Doesn’t he know how smart I am? Why, even my peers have said I am smart. I pride myself on my critical thinking. Even my kids say that! What more proof do you need? Let’s get this straight: I am rational, smart, of...

Appraisal / Appraisal News / Appraisers News

Existing Regulatory Burden on Appraisal, a Proven Failure- System Reform

July 30, 2019

Appraisal Reform or System Reform

It is my hope that the Subcommittee on Housing, Community Development and Insurance consider long-term impact. The existing regulatory burden, a proven failure, may insure a repeat of the past. The body of a letter to the U.S. House Committee on Financial Services about systems reform. Appraisal reform or Appraisal industry reform? It is critical to understand that ‘appraisal’ does not equal ‘valuation’, or risk analysis, or anything else. It is a precise definition of a nebulous product. The current U.S. House Committee on Financial Services is asking the question: “What’s Your Home Worth? A Review of the Appraisal Industry.” I believe it is...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisal Subcommittee

July 18, 2019

Should Appraisers Study Statistics?

Yet what was (and still is) presented in appraiser education is the old inferential statistics. Difficult statistics. Convoluted statistics. Statistics for appraisers started to become a hot topic some 15+ years ago. I was more involved with the Appraisal Institute then, and often argued that with the changes in data sources — appraisers would have to learn to apply statistics. Around 2003, the AQB (Appraiser Qualifications Board) revised qualifying education to include the requirement for Finance, Statistics, and Valuation Modeling class. Although I was not solicited to write this class, I was put on the development team, which reviewed and suggested edits and improvements. The...

Appraisal / Appraisal News / Appraisers News