Yes, a highest and best use analysis is part of USPAP. So, that means each appraisal and report must have one. It is true, the archaic 1004 form limits this to a checkbox. That’s really dumb! If the GSEs are so hot about one, why not give us some room on the form to put […]
More on Highest and Best Use!? Really?! – TAA Podcast 067 Read More »
Want to know how a proper reconciliation keeps your assets out of a sling? Unfortunately, it is too easy to find them in one. Too many people want your assets on a tray. Did you “kill” a deal? That real real estate broker wants your assets in a sling now! Does that homeowner think you
Five (5) Ways a Proper Reconciliation Keeps Your Assets Out of a Sling – TAA Podcast 066 Read More »
Why are neighborhood boundaries so important? Simply put, the concept is one of influence. Whatever influences value is the subject’s neighborhood will also influence the subject’s marketability. They will also influence the subject’s market value. And an appraisal is all about market value, right? It is important, though, to remember that market value does not
Why are Neighborhood Boundaries So Important? – TAA Podcast 065 Read More »
In real estate appraisal, there is no standard definition of a comparable sale. There is no formal definition in the literature. Nobody has a practical definition, either. USPAP does not have one. Fannie Mae just assumes we all know what one is. But we don’t have a standard definition. That does not make sense, does
What is a Comparable Sale? – TAA Podcast 064 Read More »
Are inconsistencies in appraisal reports that bad? Generally, yes! This is because an appraisal report must make sense. It is easy to gather facts and then report them. That takes no analyses. But our job is to take those facts, and then make sense of them. Why? So the client can use them to judge
Three (3) Points of Inconsistency – TAA Podcast 063 Read More »
What does USPAP say about analysis? Specifically, nothing. But it does admonish appraisers to identify it first, and then to analyze it. OK, what does that mean? A clear example is the number of bedrooms. If the “typical” house in the neighborhood has three bedrooms, does a fourth bedroom add any value? We can’t analyze
You Can’t Analyze it Until You First Identify It! – TAA Podcast 062 Read More »
What are a property’s characteristics? True, they include such things as GLA, quality of construction & finish, number of bedrooms, and so forth. But those are just some of the property’s physical characteristics. Really, there are more. The problem is, sometimes appraisers see the physical characteristics as paramount. But we can ignore the other important
What Are A Property’s Characteristics? – TAA Podcast 061 Read More »
Real estate appraisal boilerplate can be an advantage! Yet, it can save time, money, and effort. These are a plus to any appraiser, right? But is there a downside? Are there circumstances when boilerplate could be a problem? Unfortunately, yes, there are. While boilerplate has its advantages, it has some strong disadvantages, too. So strong,
Hello, State Appraisal Board! Here’s My Boilerplate! – TAA Podcast 060 Read More »
What is so special about the appraiser’s workfile? Just how does it benefit you, the appraiser? Isn’t it really just a time killer? Each of these is a reasonable question. Appraisers ask them all of the time. This podcast answers those questions. Tim also encourages you to find your own answers to these questions. To
Your Appraiser’s Workfile Benefits You – Really! – TAA Podcast 059 Read More »
“Newbie, to the table, now!” Now, you want a job as an appraiser, do you!? This firm is willing to help you out. But you gotta wanna help this appraisal firm, too! So show me why, in the next 120 seconds, I should hire you! Start!” “Newbie, to the table, now!” is not how your
Newbie, To the Table! – TAA Podcast 058 Read More »
