Appraisal News and Business Tips

Posts Tagged humor

5-10-18 Newz//Market Value Fallacies, Broken Mortgage Market, Crazy Appraiser Stories

Is it all a big lie? Are there really 6 fallacies of market value?

By George Dell, MAI, SRA, ASA

Excerpts: Some ten years ago, we saw the start of the economic meltdown. Were appraisers to blame?  Some tried to pin the blame that way. But was there a big lie underneath? The required (federally insured) definition of value has seven distinct elements. Were appraisers doing what they were told?
Seeking entertainment for my Stats, Graphs, and Data Science¹ classes, it seemed fun to see if these assumptions had not been religiously followed.  This led to a PowerPoint slide entitled:
 “Dell Operative definition of market value”
Check it out at:

My comment: Interesting comments plus some humor ;>

In the Trenches, Crazy Appraiser Stories

Just For Fun!!

Excerpt: You’ve all got them… The crazy car chases, the surprising living conditions, the exotic assignments and the unique collectors. Here are a few of our stories we found buzz worthy.
This was a beautiful 3,200 sq ft home with all the extras. After measuring…
The Stories plus 10 comments with more stories.
My comment: I love the foto of the crazy appraiser!!

Which of us does not have a weird experience… or lots of them ;>

Read more!!

Appraisal Today! No Appraisal Tomorrow?

Appraisal Today! No Appraisal Tomorrow?

AVMs are a threat to appraisers today and tomorrow!!

By Barry Bates

Is the quasi-provocative title of Barry Bates’ article in the May 2017 issue of Appraisal Today. It’s “quasi” because the central issue, the livelihood threat represented by AVMs, has been around for at least 20 years. It’s provocative because Barry’s research suggests that AVMs, bolstered by artificial intelligence, satellite overlays and more robust attributive data, are a bigger threat than ever.

He also cites a 2015 Oxford white paper that studied 702 U.S. jobs and rated their likelihood of total computerization over the next 10 years; “Appraisers and Assessors” warranted a 90% likelihood. Bates explains why, by 2023, that might as well be a function of the residential market assignment volume, i.e., 10% of 2013 volume. One of the factors he mentions is the erosion of federal rules that once ensured that every new origination for refinance or purchase would be accompanied by a full appraisal of the real property.

Not only has the rule been undermined by a variety of new Fannie/Freddie/VA loan programs that don’t require appraisals, but the federal rule itself was modified in 2015 to give the GSEs power to decide whether any particular loan (or type of loan)was worthy of a waiver.

Another factor (of several) is the availability of “data on steroids”: collateral information (including every field in the Uniform Appraisal Dataset (UAD) from past and current appraisals populating the GSE AVMs and database from every appraisal sent through one of the uniform collateral data portals, like Fannies UCDP, which already allows for appraisal “sharing” for aggregators and Fannie’s correspondent lenders (even the 1004MC data can be offloaded to a siding for market analysis).

Bates concludes that all the necessary pieces are being assembled for an artificial intelligence AVM with robustness equal to the Stay-Puft Marshmallow Man.

[Editor’s Note. When asked whether his prognostications were a little on the gloomy side, Bates rejoined, I know, I know, ‘The pessimists are right, but the optimists have more fun.’ I mean, hey, even paranoids have enemies! And unfortunately, as a card-carrying neurotic, I’d almost always prefer to be right.]

Bates’ full commentary is in the May issue of the Paid Appraisal  Today. For more

info, go to www.appraisaltoday.com/products

8-18-16 Newz: Ex-appraiser sentenced , Statistics humor, Flooding

Statistics humor

Three statisticians go hunting. They see a deer and the first one

shoots, hitting three feet left of the deer. The second one shoots, hitting three feet right of the deer. The third one leaps up in joy, yelling, “we got him!”

Thanks to Scott Jura for this great joke! Posted on a yahoo appraiser discussion group.

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Ex-appraiser sentenced to 6 years for mortgage fraud

Excerpt: A Pittsburgh federal jury convicted Jason Moreno, 33, on five counts of wire fraud and two counts of conspiracy in September 2013.

A former appraiser, Moreno overstated housing values and glossed over problems such as a den of black snakes in one house’s basement so that others in the scheme could obtain loans for more than the properties were worth.

U.S. District Judge Nora Barry Fischer resentenced Moreno on Monday to six years in prison and three years of probation.

http://triblive.com/news/adminpage/10811871-74/moreno-court-sentenced

Court documents from 1/16. Lots of very interesting details:

http://www2.ca3.uscourts.gov/opinarch/141568p.pdf


Read more!!

Meet Widget O'Rourke – our new Appraisal Today cat team member!!

I am not sending our my Regular Thursday email newsletter this week. Just some fun photos of Widget O’Rourke!! More info after the photos. 
 
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Trying to supervise the humans. They can never understand what I am trying to say!!

Exercise time – getting bored!

Waiting for my human chaffeur. I’m ready to go!!

I’m not sure about this neighborhood!!

Is that a mouse??
   
Checking out the overgrown landscaping for any rodents…

2 stories or 3 stories?

Checking for any foundation mouse holes

Measuring the house. The human makes me take the “dumb end” of the tape. I should be on the smart end!!

Finally back home. Nap time!!
More info:
Age: 5 months
Birthday: July 29, 2015
Weight: 4 pounds
Breed: Burmese
Language: Cattish with Siamese accent
Personality: very friendly, likes to travel and play, talks a lot, not afraid of anything except skateboards
About cats, cars and leashes
Cats are very easy to train. A popular method for all pets is clicker training. Just google it. Leash/harness training is best if started when a kitten. I brought Widget home October 31 (3 months old) and started leash and harness training the next week. She learned it within a day and I started taking her on “walks” in the back yard and on the sidewalk on my street.
She did not like being in the car inside the cat carrier. Cats like to look out. Finally figured out how to get her to ride in the car – purchased a raised seat with an attached leash.
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In my 20’s I took several long trips with my cat in a van I converted (traveled 3-6 months at a time). The cat was not on a leash and harness. Went in and out of the van. When I was backpacking she followed along running in the bushes. I am finally traveling with my cat again!!!
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I am not taking her out on inspections for now… she is very easily distracted ;> She loves traveling to take comp photos.

Very funny appraiser commercial!!

The podcast, The Wits End Broadcast, is very “off the wall”, including “fake” commercials. I suggested including an appraiser commercial. It is hilarious!!

Episode 4, the most recent, has the appraiser commercial – appraiser Candy Cotton, short – only 7 minutes long for the entire episode. Hits a lot of appraiser “hot buttons” ;>

You gotta listen to it!! Plus, check out her other 3 posted podcasts. Please post a comment on iTunes or Stitcher.

Stitcher:

http://app.stitcher.com/browse/feed/75222/details Can link to social media, post a comment, get an app to subscribe on your iphone or android phone, etc.

iTunes:

https://itunes.apple.com/us/podcast/the-wits-end-broadcast/id1048415737?mt=2 The best if you use iTunes. iTunes has labeled the podcasts as “explicit”. Sorry, not much in them except for a brief very humorous reference to group sex in an early episode ;>  My iphone has Gigabytes of podcast from subscriptions, including this one. I gotta take off a week to listen to them!!

Libsyn:

http://thewitsendbroadcast.libsyn.com/ – very easy to use but not many features such as comments, social media links and subscriptions.

About the podcast author: The podcast author and speaker is Lucinda Ryan, who edited my paid Appraisal Today newsletter for a few years when I first started it in 1992, and knows about appraisal issues. She is a former newspaper reporter and editor. Lucinda loves comedy writing and always wanted to do more, including writing for a few Famous Comedians and making lots of money ;> Maybe her podcasts will take off and I can say that I knew her “back in the old days”.

Appraisal Today newsletter

Very, very funny appraisal video!!

I just kept smiling and laughing!! Definitely one of the best, if not The Best, and Most Original, humorous appraisal video I have ever seen!!

Videos by Gary F. Kristensen, A Quality Appraisal, www.aqualityappraisal.com

“Thrift Shop” parody called “Portland Appraiser Shop.”  Lotsa comments!! What’s your favorite “Scene”? Mine is what he does with his comp printouts!!!!

Check out their other videos at their YouTube Channel

If you have a link you like, send it to me. You may see your name in this email sent to almost 14,000 appraisers!! Just hit the reply button.

This is an excerpt from my FREE appraiser email newsletters. To get the full newsletters, go to www.appraisaltoday.com and enter your email address in the left side of the Big Yellow Box!!

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