Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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To read more of this long blog post with many topics, click Read More Below!!
NOTE: Please scroll down to read the other topics in this long blog post on technology, racial bias?, Scope of work, mortgage origination stats, Covid tips for appraisers, etc.
You’ve all got them… The crazy car chases, the surprising living conditions, the exotic assignments, and the unique collectors….
What we all need… Here is one brief humorous escape!!
The photo above is the Crazee Appraiser writing up his appraisal!
Here is one story:
This was a beautiful 3,200 sq ft home with all the extras. After measuring, I was standing by the fireplace, taking an interior photo, being careful not to step on the expensive rug next to the hearth. The lady of the house looked a little alarmed, so I had to ask, “Is everything okay?” “Oh yes, it’s just that the camera will have a click.” I’ve heard weirder things, so after assuring her it was a very quiet click, the button went down, the picture was taken, and the excitement started.
Something hit the back of my head, a soft, but very strong hit. The equivalent of a 10 mile an hour wind passed over my left shoulder, and a shadow landed on the other side of the sofa, which was 14’ in front of me. It seems that the fluffy 6’ rug was a once wild, African Savannah cat, stretching 6’ long as it napped on its belly. It looked like a leopard rug! With teeth longer than some fork tines, I was happy to let it hide in the bedroom, but she coaxed it out of hiding to demonstrate that it could easily jump 10’ high for a kitty treat.
– Carolyn S. Richards
For more stories, click here
My comment: We all need some appraiser fun to start the New Year!!
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FREE appraisal business articles
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!
To read more of this long blog post with many topics, click Read More Below!
By George Dell, MAI
Excerpts: Graphs provide the way for the human brain and the computer to connect. And why is that important? Why appraisers should use graphs.
Computers are really good at certain things. They can handle lots of data and can quickly carry out complex instructions (algorithms) with no mistakes, with perfect memory. They also work well with no sleep. These are things the human brain does not do well.
Humans are good at other things. We make decisions and solve problems based on “massively parallel processing” systems. These are our ‘common sense’, instincts, and broad knowledge of the topic at hand.
These can be called imagination, creativity, and even belief-based inspiration.
“Computers can outperform humans on certain specialized tasks, such as playing [the game] go or chess, but no computer program today can match human general intelligence,”
To read more, click here
My comment: Great explanation of why graphs are important for humans, including AMCs if they have any human reviewers to see the graphs.
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!
To read more of this long blog post, click Read More Below!!
By Jonathan Miller
Excerpt from Jonathan Miller: She recently promoted her video called Fool The Appraiser a catchy marketing phrase to promote dishonesty. She literally has no idea how offensive this is to the appraisal industry and how unprofessional this makes her look to the public and her peers.
Excerpt from the video: “So, the purpose of the game is to fool the appraiser into thinking that the property is worth the agreed upon purchase price.
Because if we follow the rules of the game, the homeowner has already accepted an offer greater than list price. So how do we get an appraiser to think that the property is worth? The agreed upon purchase price which is higher than list price.”
To read Miller’s article, watch the 1 hour 17 min. video, plus transcript and webinar handout, click here
Direct link to broker video and transcript Click here
Note: Registration is required to watch it and read the transcript, but you can always use your “alternative” gmail address. If you don’t have one, get one. I have one.
My comments: Great training for real estate agents. NOT!! But, maybe you will see someone doing this. This video and handout will let you know what they are up to!!
Which Appraisal Clients are used the most?(Opens in a new browser tab)
Excerpts: When a real estate appraiser is called to testify in a court, it could be as one of two types of witnesses. If you are called to testify as an appraiser, it’s important to determine at the time of the request which of the two types you will be: fact witness or expert witness appraisers.
A fact witness is one who testifies only to that of which he or she has firsthand knowledge and who describes only facts (as opposed to expressing opinions). There is no formal definition of a fact witness….
As an expert witness appraiser, you are allowed to express opinions. In fact, your opinions are the very reason for your testimony. The opinions are to be based on the expertise afforded by “scientific, technical, or other specialized knowledge.”
Short and well written. Includes legal references. To read more, click here
My comments: This is a never-ending hot issue for many appraisers. They don’t understand the difference. The difference is you get paid a minimal fee as a fact witness (similar to a witness of an auto accident, for example). As an expert witness, you are paid very well for prep for expert witness testimony, depositions, waiting outside the courtroom, and testifying. I have written about this in my paid Appraisal Today newsletter.
Excerpt: When it comes to common appraisal violations, certain minor violations are very common. In this article, I outline several examples of less serious breaches of development STANDARD 1 and reporting STANDARD 2—and a few other types of violations, too. I have compiled these based on many years of personal experience in appraisal regulation, as well as feedback I have received from other states’ enforcement agencies. Once you’re aware of these common mishaps, you should be able to avoid them more easily.
1. Use of inappropriate sales
One of the big problems is the use of inappropriate sales in a sales comparison approach….
2. Use of unsupported site value
Another common violation is the use of unsupported site value in the cost approach. That’s something that a lot of boards have cited as a prevalent deficiency or shortcoming in appraisal reports.
To read more click here
My comment: useful information. Nothing new, but good reminders. Don’t get the “violation letter” from your state board!!
Appraisal Process Challenges(Opens in a new browser tab)
Appraising Weird Stuff is Challenging!(Opens in a new browser tab)
What to Do When Your Appraisal Is Under Review(Opens in a new browser tab)
Excerpts: The former passenger-train car is about 80 feet long, 12 feet wide, and has been incorporated into the rest of the residence.
“[The first owners] connected it to the house, so you walk from the kitchen out into this train,” Anderson explains.
“You walk past the kitchen island and into a hallway where there is stained glass—and you walk into the train.”
To read more and see lots of interesting photos click here:
My comment: Sorry, I would Just Say No on this appraisal. Too busy now is my excuse. But really the appraisal would drive me crazy!!
Appraisal Process Challenges(Opens in a new browser tab)
Appraising Weird Stuff is Challenging!(Opens in a new browser tab)
Excerpt:
Number 1. Data collection and property description (38%)
“The best part is the property review. I enjoy seeing what people have done to their properties and talking to them about their homes.”
“I enjoy viewing/observing the subject home.”
“Detective work”
“Each dwelling is different, and not every appraiser takes the time to clarify the differences in the dwellings. The quality, the construction, the egresses, and especially the correct way to calculate GLA or measure a dwelling.”
Number 2. Data analysis (27%)…
To read more about favorites, click here
My comment: I love working in the field, so my choice is Number 1. But, my very best choice is getting paid ;>
Which Appraisal Clients are used the most?(Opens in a new browser tab)
Excerpt: Believe or don’t believe. Is there a parallel between appraisals and how people respond to pandemic warnings? Defiant vs. Compliant Appraisers?
Appraisal reviewers decide whether an appraisal is “worthy of belief” (“credible”) or not. Similarly, people decide whether to believe in the need for public health orders.
Steven Dinkin (president of the National Conflict Resolution Center) recently had some observations on the public’s response to the pandemic, dividing people into two groups: defiant or compliant. What is interesting is that each group has a belief that their thinking is the right thinking. Their opinion is the right opinion.
Let’s look first at the “defiants.” Some of these are defiant out of economic necessity – money. The need to eat can trump health risk. (Especially if the health risk is to other nameless strangers. “They have to take care of themselves.”) Guess what – food on the table comes first…
To read more, click here
My comment: I see a lot of appraiser comments online on both sides of controversial issues, including sometimes “sharp words”. Fortunately, almost all online appraisal places I go are moderated. Very negative or “flaming” posts are deleted. Sometimes appraisers are removed from the group after a few warnings.
The June issue of the monthly Paid Appraisal Today will have an article on this topic: “How to connect with appraisers online. What’s the best way for you?” I last wrote about this in January 2018. There have been a lot of changes since then!!
George Dell had a much longer article in the May issue of the Paid Appraisal Today.
Strange Appraisal Terms(Opens in a new browser tab)Humor
What to Do When Your Appraisal Is Under Review(Opens in a new browser tab)
Which Appraisal Clients are used the most?(Opens in a new browser tab)
To read lots more in this appraisal post, click read more below!!
Motoring down the scenic drive west on Highway 70, away from Denver, Colorado, into the foothills and sprawling mountains, an odd structure appears south of the freeway. An oval shape seems to float just above the trees at the top of a cliff, looking at the highway below. It would be understandable to think you’ve spotted a UFO, since the Sculptured House is known for its sci-fi history. The Sculptured House Is An Appraisal Challenge !!
To read more, click here
Appraising Weird Stuff is Challenging!(Opens in a new browser tab)
Appraisal Process Challenges(Opens in a new browser tab)
To read about lots more appraisal topics, continue reading below!