You’re on the Menu

You are on the menu

“If you don’t have a seat at the table, you are on the menu…”

Would it be misleading to disclose you performed a personal inspection of a property done with significant appraisal assistance in which you relied on supported demographics?

Well maybe…

The Appraisal Foundation has issued a discussion draft to answer this question and others similar to it and wants your opinion. Now we understand that some of you will comment about what’s the point and some will state they don’t have time to participate; others will simply ignore it all together.

Someone once said “If you don’t have a seat at the table, you are on the menu.” This could not be more accurate. The Appraisal Foundation has invited you to the table. The discussions on this topic will determine what if any changes will be made to the 2023 USPAP. VaCAP encourages everyone to take a few minutes and read what the issues are and then give them some serious thought on what if anything should change.

You can review the discussion draft here and provide your comments here.  You can listen to the Webinar on June 10th @ 1:00PM EST as well. Register for the webinar.

The Virginia Real Estate Appraiser Board Meeting is scheduled for June 1st at 10:00 AM. See the meeting details and agenda in Townhall.

VaCAP Board
Image credit flickr - Carlotta Roma
VaCAP Board

VaCAP Board

Coalition of individual appraisers working together to unite, promote and protect the collective interests of all appraisal professionals in Virginia; to promote needed changes in laws, rules, regulations, policies and standards affecting all appraisers in Virginia; to observe and report the actions of regulatory, legislative, oversight, and standards-setting entities of the Commonwealth.

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7 Responses

  1. Avatar Pat says:

    Thanks for the impressive leadership over the years for our profession! Keep up the good work.

  2. Avatar Midwest Appraiser says:

    The Appraisal Foundation has been taken over by political interests. It will not pay any attention to the concerns of the average working appraiser nor COMMON SENSE changes to USPAP. Instead, it will continue to weaken it at the behest of “industry partners” because their operating motto at TAF is to keep just enough USPAP in place so that appraisers can continue to exist, and nothing more. Quoted by Dave Bunton multiple times. They go through the motions of “public hearings” but their concept of “maintaining public trust” weakens by the day.

  3. Avatar Seneca says:

    Show me the appraisal report that used Demographics as data, description or boundary. Geesh, it’s like chasing ghosts.

  4. Avatar E J Brown says:

    Who is going to assume all the liability for this?

    Are the Lenders, AMC’s, Realtors, virtual inspectors going to be in court or before the State Board when the appraisal is questioned.

    Why is it that only appraisers are required to disclose anything?

  5. Avatar don says:

    Appraisers have the liability and the ability to defend their positions. liability is the most important part of your fee

  6. I have already responded. The survey option for providing comments is very easy to follow and say what you want to say. Thank you VaCAP for making linked access so easy.

    The real proof about who and how many are concerned about our profession will be in how many take the 10 minutes to complete the simple survey and create a permanent record of their comments. We cant read others’ comments at this point, but the forms say that they become part of the TAF Official record.

    Please. If you have time to post here, you have time to click the link already provided to post your thoughts. Don’t feel locked in by the survey questions. You can express divergent thoughts.


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You’re on the Menu

by VaCAP Board time to read: 1 min