6 thoughts on “The AMC/Lender Will Whistle a Jaunty Tune as it Throws You Under the Bus – TAA Podcast 012”
joe huffman
Two points to consider. You are right in your presentation of the facts in your broadcast. However, let us consider the point you raised, that part of the work file is contained in your brain, which can never be put into the work-file. That on the surface is a fact, this is where the appraiser makes all the subjective decisions that are required during the appraisal process, even the process of assigning a percentage to a problem in order to arrive at a conclusion. The problem is that most appraisers and even more so called USPAP experts do not understand nor argue this concept when confronted by a state board. The second point is concerning the Lender who might or has thrown the appraisers under the bus, so to speak. The Appraisal Foundation is no friend of the appraiser. They put on classes on a to teach the state board on how to enforce the guidelines in USPAP and also offer this information to the users of Appraisal Services.
I’m so happy you did this. Neighborhood descriptions are a constant source of agitation for me in my review practices. Too many residential appraisers just don’t … a) “Get it” b) care or c) don’t understand this and need additional training. Thanks!
Rick,
Thank you for your comment. Generally, appraisers do not receive proper training in the analysis of the influences that affect values and marketability of properties in those neighborhoods. All to often, we reviewers see appraisers merely recite facts (or prejudices!), while omitting any analysis or interpretation of what’s going on in the neighborhood. Again, thanks for writing.
Thanks for your comments! We have discussed these matters before and both agree that the deck is stacked against the appraiser. However, I don’t see this changing any time soon. So, the reason behind this podcast is to prepare the appraiser for this stacking of the deck against him/her! Forewarned is forearmed. Again, thanks! My best to you and all of yours!
Two points to consider. You are right in your presentation of the facts in your broadcast. However, let us consider the point you raised, that part of the work file is contained in your brain, which can never be put into the work-file. That on the surface is a fact, this is where the appraiser makes all the subjective decisions that are required during the appraisal process, even the process of assigning a percentage to a problem in order to arrive at a conclusion. The problem is that most appraisers and even more so called USPAP experts do not understand nor argue this concept when confronted by a state board. The second point is concerning the Lender who might or has thrown the appraisers under the bus, so to speak. The Appraisal Foundation is no friend of the appraiser. They put on classes on a to teach the state board on how to enforce the guidelines in USPAP and also offer this information to the users of Appraisal Services.
I’m so happy you did this. Neighborhood descriptions are a constant source of agitation for me in my review practices. Too many residential appraisers just don’t … a) “Get it” b) care or c) don’t understand this and need additional training. Thanks!
Rick,
Thank you for your comment. Generally, appraisers do not receive proper training in the analysis of the influences that affect values and marketability of properties in those neighborhoods. All to often, we reviewers see appraisers merely recite facts (or prejudices!), while omitting any analysis or interpretation of what’s going on in the neighborhood. Again, thanks for writing.
My best to you and all of yours!
Tim
Hi, Joe!
Thanks for your comments! We have discussed these matters before and both agree that the deck is stacked against the appraiser. However, I don’t see this changing any time soon. So, the reason behind this podcast is to prepare the appraiser for this stacking of the deck against him/her! Forewarned is forearmed. Again, thanks! My best to you and all of yours!
TIM
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Thank you, Jamie!