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Appraisal news, discussions, opinions, technology solutions by Real Estate Appraiser bloggers.
Appraisal news, discussions, opinions, technology solutions by Real Estate Appraiser bloggers.

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In 2018 the average cost of an appraisal was $331 & average turn time five days…Assuming the median home price of $250,000 would have a median appraisal cost of $450, the appraisal would be 0.18% of the total transaction cost, hardly a burdensome cost...

…average costs and appraisal turnaround times are minimal… VaCAP joins 29 State Appraisal Organizations in opposing an increase in the appraisal threshold. Behind the scenes, VaCAP and the Network have been working with Constantine Cannon LLP on drafting…
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You have one lender paying appraisers due to their admission they used a deadbeat AMC to represent them ...Yet another flat out states they don’t care nor will they pay...Who is responsible? The lender or the AMC representing the lender?...the borrower?...

So who is really responsible for payments to appraisers?… Where to start with this? Do I have to refer you back to my past articles like What’s Not in Your Wallet or Appraisers Outraged? Where do we even begin… We begin here. Another story of an Appraisal…
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There were so many negative issues with the 3rd exposure draft to the 2020-21 version of USPAP, that the ASB will move forward with a 4th draft...Can’t we, please, establish a set of understandable procedures, & leave them in place for 5 years minimum?..

Well, don’t toss your reading bifocals in the wastebasket just yet. Apparently, there were so many negative issues with the THIRD exposure draft to the 2020-21 version of USPAP, that the ASB jettisoned it, and will move forward with a FOURTH draft.…
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I had to “jump in the pool” & see what these bifurcated appraisals are all about. The names have been withheld to protect the guilty...UW came back stating they found a recent sale...With the additional 2.5 hours I’d now be better off at McDonalds...

…they provide no documentation as to how their algorithm produces this indicated value… I had to “jump in the pool” and see what these bifurcated appraisals are all about. The names have been withheld to protect the guilty. I recently completed a…
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BEWARE...Clarocity is citing the upcoming government shutdown as a reason appraisers may not get paid timely on the orders they are currently sending out...audio of oral argument proceedings in the Louisiana vs FTC case available for public listening...

Clarocity cites possible upcoming government shutdown as excuse to delay payments to appraiser. From our Sister Coalition in Mississippi: “BEWARE if you accept any orders from Clarocity. I got a call from one of our members today telling me that Clarocity…
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Two appraisers sanctioned by NJ appraisal board sued the board stating that USPAP is unconstitutional...they say they don't have to follow USPAP...The following documents are available in public record and are worth reading...

Gerald McNamara and Colleen Kudrick were admonished by the board in a five-count takedown. There is a lot of nuances here but the sanctions seemed to be based on the fact that one of the appraisers wasn’t licensed at the time and could not explain how she…
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Here’s what an unlicensed “inspector” can confidently provide to an appraiser: Photographs? Absolutely. Improvement Quality? No. Improvement Condition? No. Room Count? Even appraisers can’t agree on room counts...just spelling out the consequences...

The concept of a third party providing one or more functions in an appraisal assignment is nothing new. Back in the 1970s and 1980s there were plenty of appraisers who used somebody else to do the sketch or to take the pictures or to pull comps. The…
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MCS Valuations AMC based in TX is closing shop...They will not be placing any more appraisal assignments, but are asking appraisers to finish reports in the pipeline...ABA waited until the last day to submit their support letter for raising de minimus...

I saw a posting by another appraiser on a Facebook page on February 5, 2019 that MCS Valuations, based in Lewisville, TX, is closing shop. They are an AMC, and provide BPO’s and other real estate related services. The appraiser posted a letter from the…
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The GSE’s are in the process of evaluating the entire appraisal process, including the existing forms...One aspect I applaud is the admission that the present forms do not align well with appraisers’ USPAP requirements...I will make one prediction...

Many of you are aware that the GSE’s are in the process of evaluating the entire appraisal process, including the existing ‘forms.’ This initiative was announced in 2nd Qtr 2018, and reps from both FNMA and FrMac made presentations at various appraiser…
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Algorithms that are secret, important & harmful are weapons of math destruction... Most people think algorithms are objective & true and scientific. That's a marketing trick...A lot can go wrong when we put blind faith in big data...

Algorithms are everywhere… “Algorithms decide who gets a loan, who gets a job interview, who gets insurance and much more — but they don’t automatically make things fair. Mathematician and data scientist Cathy O’Neil coined a term for algorithms that are…
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