Tagged: review

How Does an Eminent Domain Attorney Critique and Review An Appraisal Upon Which His Client’s Just Compensation Is Based?

July 6, 2022

Eminent Domain Attorney Review

How Does an Eminent Domain Attorney Critique and Review An Appraisal Upon Which His Client’s Just Compensation Is Based? Attorneys representing property owners and appraisers responsible for documenting the value of the property being taken often work together in an eminent domain case. The appraiser develops an independent opinion of value for the property through an appraisal, and the attorney ensures that the appraisal is sufficient to support a just compensation determination in what is essentially a legal proceeding. The stakes can be high when a client’s valuation conclusion rests on a weak or improper appraisal. If the property owner’s...

Appraisal / Appraisal News / Appraisers News

Maxine Waters wants appraisers investigated

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February 23, 2022

Maxine Waters Wants Appraisers Investigated

On February 22, 2022, Maxine Waters sent a letter to HUD Secretary Marcia Fudge, TAF, ASC and AI regarding ongoing appraisal bias and discrimination. She is calling on the federal regulators and AI to investigate appraisers’ misconduct and potential illegal discrimination. She will also be introducing legislation to address ongoing discrimination. Maxine Waters’ letter “highlights longstanding racial inequities plaguing America’s home valuation system”. The letter highlights longstanding racial inequities plaguing America’s home valuation system, particularly in Black-majority communities and other communities of color. To illuminate the severity of this issue, Chairwoman Waters references an email recently sent by an appraiser...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Political Action / Trending

February 10, 2022

Desktop Appraisals: Has The Devil Infiltrated The Public Trust?

Are desktop appraisals with third-party inspectors protecting the public, or are these products about to destroy the very profession I love so much. The Uniform Standards Professional of Appraisal Practice (USPAP) are the key to maintaining public trust in real estate transactions. USPAP is pretty much the equivalent to the Bible, but it MUST be followed for appraisers. Created by the Appraisal Foundation, USPAP set forth the guidelines for how appraisers should perform their work. By following these standards, appraisers ensure that they act in a professional and unbiased manner. To expand, even more, USPAP states, “While USPAP does not...

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

December 2, 2021

HUD Dismisses Claims Alleging Racism

…white America (government) keeps trying to ‘fix’ Black People who are not broken in the first place! We’ve all heard of redlining. No one doubts it existed and MAY still exist, among private lenders. It’s hard to accept major national banking corps would risk it but it IS possible. Having said that, there is ZERO percentage or benefit for any appraiser to engage in it. None. Another appraiser in Los Angeles, who is a great researcher, posted addresses of the properties involved in half a dozen complaints alleging racism by appraisers and so-called ‘white washing’ of the houses producing subsequent...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Federal Housing Administration

The Appraisal Foundation Is About To Get PAVEd

August 12, 2021

TAF Is About To Get PAVEd

The current administration is addressing the lack of diversity in housing valuation head-on with the formation of an interagency task force on Property Appraisal and Valuation Equity (PAVE). Here are the details of the PAVE Task Force. They just had their first meeting and this is a serious effort unlike the silliness of TAF’s bureaucratic actions of the past year that were nothing more than window dressing to the lack of diversity problem within the appraisal industry. Incidentally, The Appraisal Foundation is not part of PAVE Task Force. Keep that in mind when you read their bat-shit crazy letter again and think about the fact that...

Snippets

July 8, 2021

How Do You Time Adjust?

I was able to sort time adjustment methods by data source used (mostly compiled, published reports) and by the analytic used… Time adjustments is a timely topic. Recent ski-jump rises in prices have been ramp-ant in many places. Valuemetrics.info provided a free, two-hour webinar on the topic, and we had almost exactly 1000 appraisers sign up. (Although many did not show – free, you know.) Prior to the webinar, I asked some reviewers about how appraisers were handling the price changes. Also, my friend Steve Smith raised the question on his National Appraisers Forum (NAF) to see what sources they are using to support time...

1004MC / Appraisal / Appraisal News / Appraisers News

Low Appraised Value & Allegations of Racial Discrimination

June 30, 2021

Low Appraised Value = Racial Bias?

When the appraised value didn’t meet the sale price, the first assumption was that the appraiser conspired to lower the appraised value based on ‘race’ only. When interviewed by the TV reporter, the appraiser (off camera) was incredulous about that accusation… I’m getting tired of accusations of race bias in appraisals, which ALL have alleged the ‘low appraised value’ is caused by the presumed built-in systemic racial bias of the appraisers involved. Here’s another one: EXCLUSIVE: Former Stockton Mayor Michael Tubbs fights home appraisal he says delayed the sale of his house – ABC7 San Francisco (abc7news.com) Even the President...

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

Being Liberal with Values Hurts the Homeowner

June 28, 2021

Being Liberal with Values Hurts Homeowners

Why can’t it just be accurate instead of “conservative” or “liberal?” Just be precise in the way you do your job… Some people might say a public forum isn’t the place to air this dirty laundry, but this is not really a public forum. Of my thousands of readers, very few of them are not in real estate appraisal. Right now, I’m talking to the bad apples. Maybe you’re in a situation where you want a lot of volume and want to be the go-to person for the local mortgage company or local bank, and you want to keep them...

Appraisal / Appraisal News / Appraisers News

June 4, 2021

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 Back Low, I Realized We Need to Change the System (goodhousekeeping.com) It was written by a notable self-promoter, the so-called “America’s Favorite Financial Educator”, also known as “The Budgetnista,” — Tiffany Aliche. I used to be in marketing. Those are clever. Perhaps even memorable. I question the first one, though, as I’ve never heard of Ms. Aliche until seeing the story and researching her. But I’m not black, either, so I guess that’s my problem. Most of the story is...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News

CPA Is Not Banned from Performing Services He's Qualified. Why Are We?

April 15, 2021

Why Are Appraisers Banned?

I just got out of an interesting conversation I had with my CPA. Eventually, our conversation veered onto the topic of work. I was curious about what it takes to get into his field (not that I’m interested in getting into it at all). We talked about our respective professions and about changes occurring in the real estate appraisal field. We got into talking about what it means to be a CPA, which is different than being an accountant. A CPA is an accountant, but an accountant isn’t always a CPA. He said anyone can hang up a shingle and...

Appraisal / Appraisal News / Appraisers News