USPAP and the NICK. What does that mean? Has a reviewer ever told you some part of your report was not right? Gave you a hard time on it? Told you to re-do something? That’s the nick. But there is help! There are ways to avoid the nick in the future. Read on! When we […]
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USPAP and ammunition? What does that mean? We appraisers have made it too easy for our critics to shoot at us. Not only that, we appraisers supply our critics with the ammunition! One of the major points of contention we have with our critics is that since appraisers determine a property’s value then, in neighborhoods
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USPAP and sharp saws? What do USPAP have to do with sharp saws? Things are slow right now, right? Volume of orders is less than it was even two months ago, correct? So, now you have some free time. Read some books. Listen to some podcasts. Take some classes. That’s what you do when you
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When it comes to USPAP and neighborhood analysis, many appraisers think such an analysis is a waste of time. After all, every house in the US is near shopping, schools, houses of worship, entertainment, and recreation, right? But what does Fannie Mae say about neighborhood analysis? She makes her demands really clear in section B4-1.3-03,
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USPAP and the neighborhood. This may be hard to understand. USPAP does not even use the word neighborhood in Standards 1 and 2. So how can neighborhood analysis be even minimally important? For that, we have to forego USPAP and go straight to the Fannie Mae Selling Guide. Section B4-1.3-03 covers the subject’s neighborhood and
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Is it time to expand and diversity your appraisal business? USPAP and non-traditional appraisals may be just the proper answer you’ve been looking for! In this podcast we do not discuss hybrid or desktop appraisals. We’ve already done that. Instead, in this podcast we consider expanding and diversifying your business by accepting assignments from other
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Appraisers rightly ask a lot of questions about USPAP and desktop appraisals. These desktop assignments have been around literally for decades. They were not common in non-GSE appraisal work, but were the norm for other types of appraisal and valuation assignments. After all, sometimes the appraiser must put boots in the living room. And other
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You ask USPAP: “Are listings important?” This is a question that comes frequently from appraisers – especially inexperienced appraisers. It even comes in from well-seasoned appraisers, too. But the question is valid, especially in a changing market. We all understand the market in the last half of 2022 is different from the market in the
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USPAP – what’s important now? As usual, in a real estate appraiser’s life, USPAP is always important. But in this podcast, Tim talks about some of the more important stuff – right now. For example, i-buyers. Because of the housing shortage, investors are buying single-family residences. But not one at a time. Those investors are
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USPAP’s useless cost approach. It is hard to learn. Depreciation is too hard to calculate. The market does not use it. My peers do not use it. So, yes, its useless. Or is it? If you listen to this entire podcast, you may have reason to change your mind. But why? USPAP’s useless cost approach?
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