Tim

USPAP, SR1-6, and Reconciliation are central to producing a credible opinion of value in any real estate appraisal report. The 2024 Uniform Standards of Professional Appraisal Practice (USPAP) emphasizes that reconciliation is not just a procedural formality—it is an essential component of value development. According to USPAP’s Standard Rule 1-6(a), appraisers must reconcile the quality […]

USPAP, Verification, and Bernoulli’s Fallacy.  That’s a mouthful!  What does it mean?  I’m assuming  you’ve heard of USPAP.  Verification is an important component of USPAP’s SR1-4 (learn it, love it, use it).  But it is likely Bernoulli’s Fallacy is something you don’t know about.  Yet.  You will, though.  It is going to become really important

USPAP does not specifically use the term, “…from your workfile…”   However, you’ll find your state appraisal board does.  In fact, you’ll find the board uses this phrase a lost.  Given that, let’s spend some time on what the phrase means how we appraisers must comply with it. “From your workfile” means just that.  Under USPAP’s

Financing concessions and USPAP!  More on this?  Haven’t we heard enough on concessions, cash equivalency, and stuff they don’t teach us in appraisal school?!  If you listen to what Fannie and Freddie have to say on these topics, the answer would have to be an emphatic “NO!”.  Why?  Because Fannie and Freddie continue to tell