Tagged: IRS

What Are Recognized Techniques & Methods? Adjustments: Now What? 14

Adjustments: Now What?

So, what are these methods and techniques? We’re told to “support” our adjustments. We hear words like “prove” your adjustments… as if there were some magic formula which can give an exact, correct, and absolutely true number. It used to be so easy… Our trainer gave us a sheet with the “right” adjustments. Simple. USPAP Standards Rule 1-1 says we must be aware of, understand, and correctly employ recognized methods and techniques. What are they? Who recognizes them? How do I apply them? So, what are these methods and techniques? Let’s look. In The Appraisal of Real Estate (ARE) p.46, it says: “Qualitative analysis techniques may also be...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

Stolen Appraisals Class Action - Theft of Appraisers' Data 87

Theft of Appraisers’ Data

…they charge appraisers an upload fee for the privilege of having their data stolen… I would never allow my data to be used for or by a service that specifically uses to create, modify or enhance products designed to compete with my professional services to the detriment of my business and profession. THAT is something that the Fifth Circuit Court of Appeals identified when they found that CoreLogic’s subsidiary FNC STOLE appraisers data after promising them data security. FNC stole data. We now know FNMA also stole data. Alamode is delving into individuals own personal databases in order to even...

a la mode / AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Software

Cap on Fees & Appraiser Politics - Appraisers Blogs 32

Appraiser Politics

I doubt that appraisers would be as excited if a cap were placed on appraisers… Recently, I noticed many appraisers were excited about a new bill that was introduced in Virginia. This bill initially sounded favorable to me, but as I examined it more closely, I quickly became concerned with the excitement that was building up around it in the appraiser community. Laws in general are typically difficult to understand, and they can look better at first glance than they actually are. It is important for us to analyze new laws carefully before we advocate for them. Senate Bill 655...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Political Action

IRS & USPAP: Substantially in Accordance with USPAP vs Being USPAP Compliant 0

IRS & USPAP

Treasury Department & IRS BOTH officially adopted USPAP back in 2009… except when they don’t want to follow it… The Appraisal Foundation is once again misinterpreting the very regulations they purport to be reporting and telling consumers to be sure to follow. As a matter of fact by substituting their own verbiage for what Treasury Regulations and IRS (Final Rule) policies actually say, they could be causing extreme harm to untold numbers taxpayers. The following article includes a link that MUST be read to understand all the nuances, and which should be used as the final determinant of what is...

AGA / AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations

Are Bifurcated Appraisals Legal in Your State 95

Are Bifurcated Appraisals Legal in Your State?

Lately there has been a push for bifurcated (hybrid) appraisal products. Those promoting these questionable products claim it will reduce the amount of time to obtain an appraisal. Most appraisers are screaming foul play, and for good reason. It is because of bad players doing questionable things that licensing became mandatory in Virginia. Mandatory. Licensing of appraisers protects the public trust. We all know splitting the process will not save time, but rather create delays. The only reason for this questionable product is the profit of the amc, nothing more. And then there is the quality of the information being...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

MISMO Blueprint... The Evil Octopus - AppraisersBlogs 5

The Evil Octopus

Appraisers, it’s not paranoia when ‘the bastards’ really are out to get you (end us as a profession). …Find each octopus and how they relate to our jobs. Look at MISMO Directors list… An Open Letter to Appraisers: Residential & Commercial This started as a response to a blog post by a respected appraiser concerning the influence of AMCs. During drafting it was clear that trying to explain AMCs was only part of the bigger struggles we face today. Picture a violent “all in” three-way gang fight among Octopi. Say a dozen on each side. That’s 36 Octopi x 8 tentacles...

a la mode / AGA / AI / AMC / Appraisal / Appraisal Institute

No Control Over the Way YOUR Business Prices Its Products! 55

Appraisals, Fees, Lenders and Lies…

Can you think of a single business where an individual has less control over their own financial future than the appraisal business? In most professions, your level of success is dependent on your personal work ethic, dedication to education, promptness of service, and overall level of quality. But, no, not in the appraisal industry. The HVCC took all that away. In the vast majority of circumstances, appraisers in any general market are paid the same fee. An average appraisal in Moore County, NC is worth $450.00. A VA appraisal $500.00. It doesn’t matter if you’ve been licensed six months or...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Automated Valuation Models

Procrastinators Rejoice! Tax Deadline Gets Pushed Back 5

Procrastinators Rejoice!

In case you have not heard, the IRS tax filing deadline for 2017 taxes is on April 17 this year, per this info from the IRS: April 17 Filing Deadline The filing deadline to submit 2017 tax returns is Tuesday, April 17, 2018, rather than the traditional April 15 date. In 2018, April 15 falls on a Sunday, and this would usually move the filing deadline to the following Monday – April 16. However, Emancipation Day – a legal holiday in the District of Columbia – will be observed on that Monday, which pushes the nation’s filing deadline to Tuesday,...

Appraisal / Appraisal News / Appraisers News

Virtual Assistants & Outsourcing Appraisals? When is Enough, Enough? 96

When is Enough, Enough?

Yet another expert who is making gazillions of dollars using "virtual assistants and outsourcing"… I have been blessed in my life with more than my share of good friends. I’m talking about the lifelong kind. The kind we maintain friendships over 30; 40 or even 50+ years. My Mother and Father have always told me you can never really have too many real friends. They were right. So, at my age I don’t need or consciously seek to make enemies. Just as I have had more than my fair share of true friends, I’ve probably also had my share of...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / The American Guild of Appraisers

Foremost Authority? The Appraisal Foundation Has Lost its Way - AppraisersBlogs 4

TAF Has Lost Its Way

How can TAF claim to be any kind of authority, let alone "THE foremost authority" for any of the other disciplines? I personally like and respect the individuals I’ve met from TAF. My strenuous disagreement with TAF are the policies and actions. Not the individuals. The opening or introductory remarks on The Appraisal Foundation’s web page state: The Appraisal Foundation (Foundation) is the nation’s foremost authority on the valuation profession [emphasis added]. The organization sets the Congressionally-authorized standards and qualifications for real estate appraisers and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances...

AGA / American Society of Appraisers / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News

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