NAR Urges Appraisal Foundation To Establish Equivalency Credit for Education and Experience

Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the Real Property Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”

The National Association of REALTORS® believes there are alternatives to some of the experience requirements that the AQB should consider.

NAR sent a letter to the Appraisal urging the Appraisal Foundation (TAF) to review the experience and education of workers in parallel professions and consider it for potential credit to satisfy the accreditation requirements of appraiser licensing.

Excerpts from the letter:

… including, but not limited to, experience in real estate market analysis and real estate brokerage, including:

• Evaluating and pricing residential real estate

• Counseling buyers, sellers, owners, and tenants on inspections and remediations, improvements, and the appraisal process

• Counseling buyers, sellers, owners, and tenants about listing and offering prices, and market rent

• Completing broker price opinions and Competitive Market Analyses

• Completing Evaluations in compliance with the Interagency Appraisal and Evaluation Guidelines

• Compliance with Fair Housing laws, rules, and regulations

• Compliance with the Equal Credit Opportunity Act

To read the letter (PDF), click here

My comments: Real estate agents and brokers are salespersons. They provide CMAs, etc., which can relate to valuation. I don’t know if Realtors can be re-trained to see value rather than price. I speak with a lot of Realtors and many are not oriented the same as appraisers.

Over the years, I observed that successful real estate agents seldom switched to the much less profitable appraisal side. Persons who started in sales but were not very good sometimes went into appraising.

On the other side, appraisal provides excellent experience for real estate agents. I know some successful agents who were trained as appraisers and appraised for awhile. There are also agents/brokers who are licensed appraisers and do both. Appraisers with real estate sales experience know real estate from the “inside” by interacting with buyers and sellers. Appraisers are real estate reporters.

Does NAR want to allow some appraisal experience and education instead of 100% sales experience and more than one appraisal class for a broker’s license? What about a salesperson license?

I have been a licensed real estate broker since 1986. I got it mostly for MLS access and have only done one sale, representing the buyer. At that time, no sales experience was required for a broker’s license, only a 4-year degree. I am familiar with the current experience requirements for a broker’s license. Can appraisal experience count for some of these experience requirements? It should go both ways.

NAR Appraisal Survey 2022

Appraisal Business Tips 

Humor for Appraisers

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NOTE: Please scroll down to read the other topics in this long blog post on George Harrison passed, Appraisal business, marketingunusual homes, mortgage origination stats, etc.


Fire Island’s NY Legendary Pyramid House for sale at $6.5M

Built in 1961 (renovated in 2006 by architect Hal Hayes), 3 bedrooms, 2 baths, 2100 sq.ft. Sold 4/1/2013 for $998,000

Excerpts: The centerpiece is the great room with its soaring ceiling and wall of glass (living room, kitchen and dining) overlooking the dunes (Fire Island National Seashore), the ocean and the bay. Beneath, the enormous primary suite (dressing room, large bathroom and private study) looks out to the dunes on one side and the pool deck on the other.

Across the pool deck are 2 guest cabana bedrooms and a bathroom in between, all in the shape of pyramids. Cooling ocean breezes flow day and night in this sophisticated, relaxed compound. Multiple decks and work areas in the home offer privacy and convenience and graceful separation of space.

To read more and see lots of interesting photos click here 

My comments: I love the 4 pyramid cabanas!


George R. Harrison, Ph.D. passed November 28, 2022

Funeral services were held on December 1, 2022. George was 85 years old.

We miss him.

(Photo: George is on the right side, front. Having a good time!) 

To read more and add your comments and personal stories, plus see photos and a Tribute Memorial video on his Memorial Page, click here 

Appraiser eLearning Briefing 11.28.22 (10 minute video) Remembering George Harrison. Sharing their memories of George are Hal Humphries (Appraiser eLearning Partner) and Teresa Walker (NAA Administrator), and Bryan Reynolds (Appraiser eLearning)  To watch the video, click here

George had a Ph.D. in Economics from Pacific Western University, Univ of Texas @ Arlington & University of Texas @ Austin, and a Bachelor in Economics from the University of Texas at Austin. After graduation he worked for USAA in Real Estate Development.

George founded Columbia Institute and was its president, from 1992 to 2018, a school for continuing education of Real Estate Appraisers. Courses were taught in many states. In the early 90’s, he spent time in Moscow and Bulgaria training appraisers, as well as hosting some of them here. The Columbia Institute was acquired by Corelogic in 2016 and ceased operation in May 2022. To read more click here 

George was a founding member of the National Association of Appraisers (NAA). He served on the Board of Directors, was a President, and was an Emeritus Member.

For more information on NAA click here  NAA Facebook page click here  Add your comments.

The first Appraisal Summit was co-hosted by Appraisal Today and The Columbia Institute. There were 109 attendees. It continues to run annually and is hosted by NAA and Appraiser eLearning.To read more click here 

The Appraisal Update Podcast 11.29.22 – Thank You, Dr. George Harrison (13 minutes). Bryan Reynolds’ very personal comments on George, including how he helped Bryan get started teaching appraisers. To watch the video, click here

Personal comments from Teresa Walker, who worked with George for many years

I don’t even know where to start. I looked on Facebook a few minutes before turning off my phone for 8 days. I saw that my mentor, boss, and father figure, George Harrison, had passed away. I quickly sent out emails to everyone I could think of to let them know and I turned off the phone.

I remember meeting George Harrison shortly after I moved to San Antonio in 2001. He remembered me from Valuation 2000. There were 3,000 people at that meeting. He told me I wouldn’t let the person in front of him attend a session because they didn’t have their badge, and I made them walk back to their room (1/4 mile in the MGM) to get it. That sounds like me. Anyone familiar with the appraisal industry knows that 95 percent of the people that were there were probably older white men. There were only a few African American women attending appraisal conferences at that time, so I was probably easy to spot and remember.

He nurtured me, mentored me, and made me think I could do the impossible. All the things he encouraged me to do, I’m doing now. He would get mad at me and punish me like a parent, and we would get through it. Running a national association, managing multiple state associations were his ideas…not mine. When I went to work with him at Columbia, I was working 2 hours a day. That led to a full-time consulting job for 6 years. After we started NAA and the Appraisal Summit and I started to manage ATA (Association of Texas Appraisers), I had to cut back my hours with Columbia. Who would have thought that those entities would be what they are today!

If we didn’t travel together to attend conferences, he would give me a big hug like he hadn’t seen me in years (when in fact, it had only been a day or so). 😊

Thank you, George, for all you did for me and this profession that you loved so much. You will be missed.

My personal comments: George called me before the first Appraisal Summit on December 9-11, 2009. I did not know who he was. The same day, I found out a lot about George. I was impressed with his qualifications and agreed to help him with the Summit as a co-host. I did my Appraisal Today National Conference from 2001 to 2006 and learned a lot about doing national appraisal conferences. Doing a national appraisal conference during the 2008 crash was risky but very much needed by appraisers. Many thanks to George.

I will never forget George’s wide smile. He was a very nice, kind person and definitely One Of The Good Guys. George was dedicated to teaching appraisers.

The image below was created by Teresa Walker.


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2022 year-end tax planning for appraisers.

It’s still possible to save on your 2022 taxes!


Your most important decision this year is if you expect your total taxable income (personal and business) in 2023 to go up, stable, or down from 2022.

If next year you expect it to be lower, make many purchases, donations, etc., before year-end. Also, defer 2022 income until 2023.

If you expect your 2023 income to be higher than 2022, consider deferring purchases, donations, etc., as you will need them more in 2023.

If you expect no change in income for the next year or are not sure, you can make year-end purchases and some or all of your other deductions. I do them just in case my income may be lower in 2023.

There are many 2022 tax changes due primarily to expired 2021 pandemic laws and 2022 high inflation. I strongly recommend getting an experienced CPA or enrolled agent to do your 2022 taxes. For example, there are different business mileage rates for the first 6 months and last 6 months of 2022.

I have been writing these annual articles for many years. These are definitely these are most complicated and confusing tax changes I have seen.

To read more about this topic, plus 2+ years of previous issues, subscribe to the paid Appraisal Today.

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Which is MOST important for building strong appraisal-client relationships?

McKissock Survey

Top earners in the real estate appraisal profession are those who consistently bring in new clients. If you’re looking to earn more referrals and repeat business, a great place to start is by fostering good relationships with your appraisal customers. To help you out, we asked our appraisal community,

The top two answers were “clear communication” and “credible results.” Survey respondents identified these two things as being the most essential for establishing and growing strong appraiser-client relationships. The other available answer choices were “competitive fees,” “quick turnaround times,” and “detailed report”; however, zero respondents selected those as being the most important.

Clear communication

Comments from those who selected “clear communication” as their answer choice included the following:

“Open communication between all parties involved in the appraisal process is the key to giving lenders the most credible results.”

“Clear communication is essential to establishing the scope of work, if there are any other clients involved. Investigate by asking specific questions pertaining to the property such as improvements, what and how long ago, permitted work, HOA, municipalities, etc. to be able to provide credible results for the final report.”

To read more, click here

My comments: Worth reading. See the origination forecast below. I have seen this same communication recommendation many times, both from clients and savvy appraisers.


Famous Kellogg Doolittle estate in Joshua Tree California

10 acre site. 3 bedrooms, 3 baths, 7,357 sq.ft. 

It is one of the most exclusive homes in the world, and is available for the first time as an Airbnb Luxe exclusive. ($7,357 per night)

Created over 25 years, Kellogg Doolittle in Joshua Tree National Park is a marvel of the organic architecture movement. A residence that is so “one-of-a-kind,” nearly every element, inside and out, is handcrafted by architect Ken Kellogg and Master Craftsman John Vugrin.

Kellogg, a former protege of Frank Lloyd Wright, has taken organic architecture to new levels with this outstanding house. The Kellogg-Doolittle House contains no straight lines or rectangular spaces.

Instead, the house forms around 26-winged piers composed of organic material built quietly into the natural landscape: the kitchen and living room stretch softly around an unmoved, million-year-old rock formation, while the glass panels peek into a sprawl of sunrise and sunset views.

To read more and see many photos, click here

My comments: Very interesting, including the photos! I love rocks. Took a geology class my last semester in college and would have changed majors, but it took too many more classes to graduate.


MBA Revises Originations Forecast Downward For 2023

Now predicts lenders will originate $1.98 trillion overall in mortgages in 2023, down 12% from 2022 and down 3.5% from its October forecast. 

Nov. 29, 2022

Excerpts: Next year will be an even slower year for home purchase and refinance loan originations than previously expected, according to an updated forecast from the Mortgage Bankers Association (MBA).

The reduced forecast for the year includes a 5.5% decline in purchase originations to $1.49 billion and a 27.4% decline in refinances to $484 million. Both totals also were revised downward — by 2.7% and 5.7%, respectively — from its October projections.

The MBA’s latest forecast now represents a dramatic revision from its forecast issued a year ago. In that forecast, it said it expected $1.85 trillion in purchase loans and $676 billion in refinances.

The MBA also lowered its fourth-quarter forecast for this year for overall originations $398 billion, 2.9% lower than its forecast in October. The revised amount is also 60% lower from 2021. The forecast for 2022 was also revised downward to $2.24 trillion, a 49% drop from its 2021 peak of $4.44 trillion.

Includes a link to a table with mortgage origination history and forecasts.

To read more, click here

My comments: No one really knows what will happen as it is affected by the Fed’s rate changes. My motto: Plan for the Worst. Hope for the Best!HOW TO USE THE NUMBERS BELOW. Appraisals are ordered after the loan application. These numbers tell you the future for the next few weeks. For more information on how they are compiled, go to Note: I publish a graph of this data every month in my paid monthly newsletter, Appraisal Today. For more information or get a FREE sample go to Or call 510-865-8041, MTW 7 AM to noon, Pacific time.

My comments: Rates are going up. Some appraisers are very busy, and others have little work. Varies widely around the country.


Mortgage applications decreased 0.8 percent from one week earlier

Mortgage applications decreased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 25, 2022. This week’s results include an adjustment for the observance of the Thanksgiving holiday.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 33 percent compared with the previous week. The Refinance Index decreased 13 percent from the previous week and was 86 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 4 percent from one week earlier. The unadjusted Purchase Index decreased 31 percent compared with the previous week and was 41 percent lower than the same week one year ago.

“Mortgage rates declined again last week, following bond yields lower. The 30-year fixed mortgage rate decreased to 6.49 percent and has now fallen 57 basis points over the past four weeks. Additionally, mortgage rates for most other loan types declined,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “The economy here and abroad is weakening, which should lead to slower inflation and allow the Fed to slow the pace of rate hikes. Purchase activity increased slightly after adjusting for the Thanksgiving holiday, but the decline in rates was still not enough to bring back refinance activity. Refinance applications fell another 13 percent, and the refinance share of applications was at 26 percent. Both measures were at their lowest levels since 2000.”

The refinance share of mortgage activity decreased to 26.1 percent of total applications from 28.4 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 9.0 percent of total applications.

The FHA share of total applications decreased to 12.2 percent from 13.4 percent the week prior. The VA share of total applications increased to 11.2 percent from 10.5 percent the week prior. The USDA share of total applications decreased to 0.5 percent from 0.6 percent the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.49 percent from 6.67 percent, with points remaining at 0.68 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200) increased to 6.35 percent from 6.30 percent, with points decreasing to 0.61 from 0.74 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.57 percent from 6.66 percent, with points increasing to 1.14 from 1.01 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.02 percent from 6.08 percent, with points decreasing to 0.69 from 0.70 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs decreased to 5.48 percent from 5.78 percent, with points increasing to 0.89 from 0.73 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks, and thrifts. Base period and value for all indexes is March 16, 1990=100.


Ann O’Rourke, MAI, SRA, MBA

Appraiser and Publisher Appraisal Today

1826 Clement Ave. Suite 203 Alameda, CA 94501

Phone 510-865-8041



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