Category: Trending

Politicians Have Made Appraising Into a Nightmare, So I've Retired 39

I’ve Retired & I’m So Glad I Did

  What we got, was 30+ years of complaints from the lenders and politicians who blamed appraisers for all of the lenders and political wrong doings… I retired 2 months ago, and I am SO GLAD I did. I’ve had enough. I decided on an appraisal career because I found real estate, and especially the valuation of homes to be extremely fascinating and challenging, and although I had heard that the appraisal profession was making changes back 30+ years ago, I “assumed” it was becoming a more upstanding, professional occupation, in the eyes of the lenders, politicians and general public,...

AI / American Society of Appraisers / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations

Waiting for the Platform to Fall... They Hired the Fastest Cheapest Guy 35

Waiting for the Platform to Fall…

…waiting for the platform to fall… because you know they hired the fastest and cheapest guy to build it! When Dodd Frank was implemented lenders started using appraisal management companies, eliminating appraisers relationships basically overnight. Appraisers embraced the change reluctantly and started accepting assignments from appraisal management companies. Over the years appraisal management companies showed their true colors and lowered fees, required appraisers to pay upload fees and forced many appraisers to pay for unnecessary back ground checks. Some have hired staff appraisers, completely disregarding the intent of Dodd Frank in an attempt to lower operating costs. Today, most AMC’s...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

Racial Bias in Real Estate: Is it the Property Appraisers’ Fault? 17

Racial Bias in Real Estate: Is it the Appraisers’ Fault?

In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the part of real property appraisers providing appraisal services to lenders who provide home mortgages. These academics do not fully understand various types of valuation specialties, the appraisers who practice in these specialties, and the myriad of laws that must be followed. Help is needed to explain the appraisal industry, including the specialties and the types of reports. An understanding of the different components of the appraisal industry is necessary to assist various academics, journalists, the media, the public, and the public...

Appraisal / Appraisal News / Appraisal Subcommittee / Appraisers News / ASC / Automated Valuation Models

Independent Fee Appraisers Under Attack 57

Independent Fee Appraisers Under Attack

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...

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

The Other Side, Racism in Appraisals 26

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 so… Note: The following blog article is not to defend anyone or to place blame. It is simply a blog looking at this issue from the other side of things, the side that hasn’t been discussed in the media. A couple weeks ago, I was privileged to speak on The National Real Estate Post about appraisal issues. One of the issues we discussed briefly was the ever-growing number of articles being written about allegations of racial discrimination in the appraisal...

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

Alleged Systemic Racism in Appraisal Myth 37

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 could argue staging was necessary to identify if a valuation difference resulted from perceptions of what race the occupants are. Fair enough. Provided that the staging itself does not alter the value scenarios. Provided that the results are being honestly reported. I’m skeptical. I’ve researched each case as far as can reasonably be done from the information provided. The American Guild of Appraisers has also offered (repeatedly) to conduct thorough reviews of each and every appraisal involved in the reported...

AGA / AMC / American National Standards Institute / ANSI / Appraisal / Appraisal Management Companies

Appraisal Issues: Waivers, Racism, Fees & Trainees 18

Let’s Talk Waivers, Racism, Fees & Trainees

Frank Garay with National Real Estate Post interviewed Mark Skapinetz on Monday May 17, 2021. They discussed racism, entry into the appraisal field, appraisal fees and appraisal waivers. Frank intends on having Mark back to discuss other issues at hand within the appraisal industry. Kudos to NREP for using their platform to allow boots on the ground appraisers explain the current state of affairs with regards to the appraisal profession. On racism and racial bias allegations, Mark explains What we don’t know is the other side of it. We don’t know the appraiser side of it. We haven’t seen any...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Customary & Reasonable Fees

Amrock Mandatory Diversity Training 25

Amrock Mandatory Diversity Training

An appraiser shared the following with us. Amrock is requiring all appraisers on their panel to complete a diversity, equity and inclusion training by April 19, 2021. Amrock Diversity, Equity and Inclusion Training Requirement: You’re Cordially Required to Take Part in This Training Hello, As an organization, we firmly believe in the importance of diversity, equity and inclusion (DE&I) for everyone – and we’ve taken a stance through the implementation of our DE&I Strategic Plan. As part of that plan, all Amrock team members have completed an online Cultural Competency Training. We’re now extending that requirement to all our Amrock...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Advisory Opinion 16 Could Be a Game Changer for Appraisers! 22

Advisory Opinion 16, a Game Changer?

The Appraisal Foundation has issued an exposure draft for Advisory Opinion (AO) 16. Advisory Opinion 16 is Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development and Reporting. Unlike other exposure drafts, the text of the AO opinion has been rewritten. The traditional strike through of word or phrase changes is nonexistent. The Appraisal Foundation acknowledges “the Advisory Opinion was extensively rewritten”. Comments on the changes are due to The Appraisal Foundation by March 31, 2021 via SurveyMonkey or email, asb@appraisalfoundation.org. Although an Advisory Opinion is not a standard of practice, it does express what is...

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

Passing State Laws Mandating Fair Housing Continuing Ed for Appraisers 41

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

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