Appraiser Work Stress Humor

8 Funny Quotes About Appraiser Work Stress

Just For Fun!!

Excerpts: Real estate appraisal is an exciting and enjoyable profession—for the most part. But every appraiser knows that the job can be stressful at times, especially for those who are self-employed. If you’re having a hectic or frustrating day on the job, it helps to have a sense of humor. Here are some super funny quotes about work stress that we hope will brighten your day. Appraiser Work Stress Humor is what we all need!!

A few quotes

“‘Yay! It’s the weekend!’ Said nobody who is self-employed.”

“There cannot be a stressful crisis next week. My schedule is already full.” ­— Henry Kissinger

Very creative gifs! Sorry, they don’t work in these emails. To see them, click here

My comment: Very Funny and Realistic!

Appraisal Humor

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Terrible Real Estate Agent Photos for Appraisers(Opens in a new browser tab)

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What is a Competent Appraiser?

“Damn Right I’m a Competent Appraiser…Aren’t I?”

By Tim Andersen, MAI

Excerpt: To appraise a property, and then report it according to USPAP, is a requirement USPAP demands and the states enforce. All too often, reviewers see in reports boilerplate (especially in the reconciliation) such as: “In my professional opinion, the value of the subject is $XXXXXX”. In the light of competency, look closely at SR1-6(a) and (b), the reconciliation standards rule. What is a Competent Appraiser?

If there is nothing more in the reconciliation than this single (essentially meaningless) sentence, the appraiser has not complied with SR1-5(a) and (b), thus evidenced a lack of competency. In turn, the appraiser certified to a lie, in that, in not complying, the appraiser omitted preparing the report in accordance with Standards 1 and 2 of USPAP. To add insult to injury, the appraiser has violated SR2-1(b) in that the above statement and certification, with no other context or explanation, are misleading. Three serious USPAP violations might stem from these 11-words.

Therefore, relative to the concept of competency, the deeper meaning is that the above 11-words are capable of generating three charges from the state. In addition, they can generate questions from reviewers. When appraisers appraise the property credibly, and then report the results of that appraisal in a non-misleading manner, they avoid both attention from reviewers and from the state. Thus, in turn, they save not only time and money, they show themselves to be competent. They appear more professional. Professionals can and do charge more for their time and efforts, right? Let us, therefore, be professionals.

My NOTE: This blog post starts with USPAP competency standards and includes an analysis of Competency and the Fannie forms Neighborhood section.

To read more, click here

My comment: Tim Andersen is definitely a USPAP Expert! He writes, speaks, teaches classes, etc. on USPAP topics. He also helps appraisers get their appraisals more USPAP complaint. He focuses on residential appraisal issues – state boards, reviewers, AMCs, etc.

Appraisal Humor

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7 Ways to Not to Choose Appraisal Comps

By Tom Horn

Excerpt: Here are three of the topics:

1) I’m taking what I think the home is worth based on the owners estimate and looking for sales in this price range

4) Using higher sales from another neighborhood when there are good sales within my own subdivision

6) Using price per square foot

To find out what Tom says and the other 4 ways, click here

My comment: written for real estate agents, Tom Horn’s primary referral clients, but useful for appraisers. Maybe it will help you explain about comps to agents, or why you did not use the comps they provided. I always take whatever sales and listings the agents have. Sometimes the MLS has it miscoded somehow and I miss it. Or, there is a “pocket” listing that sold but was never listed on the MLS. Also, I never want to miss a sale very close to the subject, if only to mention it and explain why I did not use it!! 7 ways to choose comps gives you some ideas.

Appraisal Business Tips 

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Join the National Appraisers Online Forum

National Appraisers Forum

By Dave Towne

Excerpt: Appraisers, if you would like to learn from highly qualified peers (other than me! :), post questions, or offer your own comments, consider joining the FREE group, National Appraisers Forum (NAF). Use this link.

This is one of the best appraiser groups as all commentary is respectful. While not everyone always agrees with certain points, the discussions are not demeaning. There is a wealth of info participants share freely on a wide number of topics. The group has several moderators who monitor the posting activity.

One key point, NAF participants are not anonymous. You must use your name (at a bare minimum) when participating, which is required when signing up… Moderators are asking that anyone who wants to join should give their name as licensed, the state they are in, and their license number.

To read more, click here

My comments: This is my favorite appraiser online group! I get many emails from various sources for this newsletter and have been a member of many online communication places. Before the internet was widely available, I hosted live chats on aol and compuserve. Since then I have watched many online places. Unfortunately, just like any other topic, sometimes the groups end up doing lots of “flaming” (attacking another participants, etc.), negative comments, off topic, politics, etc. I quit going to these places.

Of all the groups I have subscribed to, National Appraisers Forum is the best for me. I have been a member since it started, or soon after. No complaining about AMCs, off topic, trolling and flaming, etc. The founder, Steve Smith, and the moderators keep it this way. Regular contributors are “high end” appraisers with many years of experience. Hot topics are often discussed.

There are well-managed appraisal groups on Facebook, but it is too hard for me to follow the threads, so I don’t go there very often. But, it may work for you. Join the National Appraisers Online Forum!

Another major factor is that you must use your real name, so we know who is commenting. Allowing anonymous postings can easily decay into a mess.

I will be updating my article ” How to connect with other appraisers online. What’s the best group for you? ” in a future issue of the paid Appraisal Today discussing other email chat groups, how to find other groups or start your own, Facebook, etc.

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What’s included in appraisal GLA?

Should The Agent Include These Areas In Square Footage?

Excerpt: The most thrown around metric in real estate has to do with square footage and price per square foot. People ask me all of the time what homes in this or that neighborhood are selling for per square foot.

Why do they do this? Because they want to take the price per square foot and then multiply it by the square footage of their home to find out what it is worth. Sounds reasonable right? Wrong….

(An example I see a lot): A heated and cooled finished room that is attached to the main house but you get to by going outside of the main house should not be included in the main GLA.

To read more, click here

My comment: written for real estate agents, but many appraisers, including myself, regularly get asked: “what is in the living area” by agents. I do. This article focuses on ANSI and may help you explain it to them. There are links to his other blog posts on this, and related, topics.

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What is Included in Appraisal Square Footage?

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What is Risk for Appraisers?

What’s all this stuff about risk?

By George Dell

We seem to be hearing stuff about risk recently. Why?

Back in the old days, before internet but after the wheel – It was my challenge as a new appraiser to scratch together four or five comps, then put three of them on a form, or perhaps even all five on a table. We called the table a ‘grid,’ presumably because it looked like the grid on a bird cage.

I soon discovered I was free to fly around inside the grid cage all I wanted. I adjusted to what I had. I learned to live inside the cage.

Then flying electrons came. They flew right through the grid. There were many. Sometimes even a dozen or more. All claiming to be comp messages. It was too much. I had the five. Should be enough. Yep. That’s what my trainer said. That’s what my appraiser education said. And sure enough, it was on my test for my new appraiser license…

Now, we worry about What is Risk for Appraisers?

To read more, click here

My comment: Next month’s paid Appraisal Today will have a long article, “Adjust your adjustment, or adjust your attitude?  The Hype and the Reality” by George Dell. Very interesting!

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

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Bifurcated Appraisals and Inspections Yes or No

Bifurcated appraisals – Yes or No??

What Fannie Says: Yes, of course

Interview with Lyle Radke Lyle Radke, Director of Collateral Policy at Fannie Mae

Excerpt: Fannie has spent the first half of 2019 detailing its plans to roll out the 1004P, a new desktop appraisal that will be based on a Property Data Collection report that is prepared by a third party inspector; this is part one. Fannie has indicated that it is currently testing appraisers, appraiser trainees, insurance inspectors, real estate agents, property preservation service professionals, and smart home service professionals as potential Property Data Collectors to determine “which labor force can best collect data,” including a “robust and accurate set of data elements, photos, and floor plan.” Bifurcated Appraisals and Inspections Yes or No is a controversial topic.

The more impactful revelation is that Fannie aims to replace the appraisal requirement completely where it can. In these scenarios, a property data collector, not necessarily a licensed appraiser, will inspect a home and report back on the condition of the property. Then, based on that property inspection report, a desktop appraisal may be ordered or the appraisal requirement might be waived altogether.

Many issues are discussed: Value Verify, appraiser aging, who will do inspections, etc.

For more info, click here

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What Richard Hagar Says on Bifurcated:

No – A Train Wreck

Excerpt: We are hearing about the latest trend called bifurcated appraisals. Within the past year I’ve seen this term used more often in more diverse places than in the prior 20 years combined; it’s almost like some media company has decided that “bifurcated” is the “it” term for 2019. All sorts of people, AMCs, lenders, technology companies, and Fannie Mae are promoting this “spiffy” new process. They are hoping that the rest of us will “get on board” with their new “better” process.

I do not want to “get on board” because it’s headed for a train wreck.

Editor’s Note: Hagar’s bifurcated test in his office did not go well.

For more info, click here

My opinion: It is a business decision whether or not to do bifurcated appraisals. This month’s issue of Appraisal Today has an article on the topic, written by Julie Friess, SRA

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5 things to remember about “low” appraisals

Low appraisals, weed, & rent control

13516718 – white wood texture with natural patterns

By Ryan Lundquist 

Excerpt: I’ve been getting lots of phone calls and emails about low appraisals over the past couple months. Is something in the water? What’s going on? Let’s talk about this briefly. Then I have some quick thoughts on weed and rent control.

Excerpt: 5 things to remember about “low” appraisals:

1) This is common when the market slows.

2) This is even more common in a declining market.

3) It should happen if the contract is too high.

4) It can spur negotiation instead of kill a deal.

5) The value of course is too low sometimes.

To read more To read more, click here

My comment: Keep a close watch on your market. Don’t miss it when prices start going down!! But, No One Knows when the peak occurs!! I tell people that If I knew, I would be rich and probably not writing this newsletter ;>

On the other side, people ask me all the time about our very high prices (median around $900,000). I tell them to wait for the inevitable crash. I have been through three here when prices in my city dropped 30-40%. Other nearby cities were up to 80% declines. They stay down for a long time. Unfortunately, few buy then. “Herd” mentality, I guess. Do what everyone else is doing – not buying. The last property I purchased in 1995 for $375,000 I got 100% seller financing. It had been on the market for two years. I sold it in 2004 for $1,000,000. It recently resold for $1,700,000. Crazee price changes!!

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Appraiser Mistakes

Can Smart Appraisers Make Dumb Mistakes?

By George Dell, ASA, MAI, SRA

Excerpt: I am a smart and educated, award-winning appraiser. It is not possible for me to be irrational. Of course not. You can see that. I can see that. But appraiser mistakes are not good.

A high IQ and education won’t necessarily protect you from highly irrational behavior—and it may sometimes amplify your errors. David Robson, in an Excerpt from The Intelligence Trap

Oh No! Who is this guy!? Doesn’t he know how smart I am? Why, even my peers have said I am smart. I pride myself on my critical thinking. Even my kids say that! What more proof do you need? Let’s get this straight: I am rational, smart, of high IQ and extremely educated, especially in my chosen field!

Recently, scientists have started to measure what things go with irrationality. There is even a name for this field of study, this measure: dysrationalia. The studies roughly parallel the studies of dyslexia and dyscalculia (difficulty in dealing with number things).

Understandable, Well Written and Interesting!! To read more, click here

Appraisal Business Tips 

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Zoning in the Appraisal Process

Highest and Best Use – Residential Appraisers Need To Understand It!

Excerpt: There are many valuation products out there. CMA’s, BPO’s and AVM’s to name a few. What you will likely not see in those kinds of valuations, is the specific zoning class for the property being valued. Why? Zoning in the Appraisal Process is very important.

With these types of valuations, a highest & best use (HBU) analysis is generally not made. However, if you hire an appraiser to value your home, we will perform this analysis. What is a highest & best use analysis? Why is it important in the development of an opinion of value? How is zoning involved?

To read more and see the fun animated gifs click here

My comments: My Most Frequent Residential Appraisal Rant!! I started at an assessor’s office in 1975. The First, and Most Important, Question was “What is the highest and best use?” In 1986 I started doing residential lender work. The form was just a check box for HBU. If you checked No, it was a big problem for the lender. Many residential appraisers don’t check the zoning, general plan, etc. One good way is to just drive around and see what is happening. For example, lots of small homes being torn down and McMansions being built. Or, lots of houses on a busy street converted to office uses. Or, a small house on a big lot with apartments all around it. A common residential issue is a possible lot split.

Don’t forget the General (Or Specific) Plan. It tells you what the city wants today and in the future for land use, which is not discussed in this article.

I have appraised a lot of older commercial properties for lenders, which often had a HBU different than the current use. I discussed it in my appraisals.

When there is a big difference in value between two appraisals, it is often due to a difference in opinion of HBU. Don’t get into trouble. Be sure to think about HBU!! If you’re not sure, contact an experienced appraiser, particularly one who does a lot of non-lender work and/or commercial appraisals.

In the Feb. 2017 issue there is an excellent article written for residential appraisers by Denis Desaix, “Residential Highest and Best Use Analysis: more than Just a “Check box” available to paid subscribers. See below.

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Appraisal Process Challenges

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