Appraisal News: Choosing Comparables, Dealing With Challenge and Change, and More

Posted by: McKissock Date: Mar 24, 2017 7:00:00 AM

This week's news covers choosing comparables dangerously, the challenges and changes of being an appraiser, and the home office tax deduction you may or may not be qualified to take. There’s more talk about AMCs and the seemingly high price of an appraisal from the consumer’s point of view. Everyone’s talking about March Madness, so in the spirit of those players who aspire to go from NCAA to NBA, we’ve featured some dream houses owned by today’s pros.

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Topics: appraisal news

Appraisal News: Challenges, Fees, Values, Unusual Homes, More

Posted by: McKissock Date: Mar 17, 2017 8:06:34 PM

As the weekend draws near, we've pulled together some appraisal-focused stories. A recent survey by NAR gathers insights on the issues appraisers are talking about, which ties in nicely to a blog about having your appraiser voice heard among the din of a country that is speaking loudly. Some insight into appraiser fees and varied valuations round out the appraisal news. To wrap things up, we've included a slideshow of some of the most unusual homes in the country. And in honor of St. Paddy’s Day, Sláinte!

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Topics: appraisal news

Appraising Rural Properties

Posted by: Joseph Dobrian Date: Mar 16, 2017 8:00:00 AM

There are challenges that come with appraising rural properties. Often they are located in remote areas, where few comps exist. How do you figure in factors such as arable or nonarable land, a working farm, timberland, wetlands, or a forest preserve?

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Topics: appraising rural properties

Appraisal News Round-Up: Appraisal Reform, Change, Shortage, Time Out, and More

Posted by: McKissock Date: Mar 10, 2017 6:07:50 PM

This week’s appraisal news includes appraisal reform for the future and a look back at whether the past accurately predicted the present.  We’ll look into whether there’s an actual appraisal shortage—or if appraisers are just weary of micromanagement. The Appraiser Coach offers up some advice on adding a timeout to your to-do list. And just for fun: a story about the lighter side of the profession.

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Topics: appraisal news, appraisal reform

Where Are All the Women? A Celebration of Women in Appraisal

Posted by: Joseph Dobrian Date: Mar 8, 2017 7:30:42 AM

Traditionally, the sales/brokerage side of the real estate profession has a reputation for being one of the most woman-friendly career options available in the Western world. The National Association of REALTORS estimates that about 62 percent of REALTORS are female. The appraisal business, however, is mostly male-dominated, with males making up about 75 percent of the profession.

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Topics: women in appraisal

ASB Adopts Changes to USPAP for 2018–19

Posted by: Dan Bradley Date: Mar 6, 2017 2:50:41 PM

At its February 3, 2017, meeting, the Appraisal Standards Board (ASB) of The Appraisal Foundation adopted several proposed changes to the Uniform Standards of Professional Appraisal Practice (USPAP). These changes will be effective January 1, 2018. 

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Topics: USPAP

Appraisal News: Changes, Communication, Cybercrime, and More

Posted by: McKissock Date: Mar 3, 2017 4:34:01 PM

We gathered some of the latest in appraisal news and put it in one place for your reading pleasure. Here’s what’s on tap. An interview with a long-time appraiser offers insights into the profession's future—as well its past. USPAP makes it clear that communicating with appraisers is not only okay but also a must for credible assignments. Be vigilant about email scams, particularly one that is specifically targeting appraisers. And just for fun: a look into Super Bowl champ Tom Brady’s multimillion dollar homes.

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Topics: appraisal news

HUD OIG Issues Appraisal Fraud Alert

Posted by: McKissock Date: Feb 24, 2017 1:29:03 PM

The Office of Inspector General (OIG) of the Department of Housing and Urban Development (HUD) recently issued a Fraud Alert Bulletin regarding appraiser identity theft.


According to the Fraud Alert Bulletin, there have been a number of appraiser identity theft cases recently uncovered by HUD OIG. 

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Topics: HUD, appraisal identity theft

7 Ways to Handle Appraisal Pressure and Still Maintain Your Ethical Reputation

Posted by: McKissock Date: Feb 23, 2017 9:00:00 AM

It goes without saying that there are no simple and easy ways to deal with appraisal pressure, especially when it comes to standing behind your ethics. A major source of frustration for appraisers is the realization that clients do not have to follow USPAP. The ethical and performance requirements of USPAP apply only to appraisers, not to clients.

In other words, USPAP doesn’t prohibit a mortgage broker from calling and asking you to develop an appraisal based on a predetermined value, but USPAP does prohibit you from accepting that assignment.

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Topics: appraisal pressure, ethics

Automated Valuation Models: Increased Use Leaves Plenty of Work for Appraisers

Posted by: Joseph Dobrian Date: Feb 16, 2017 9:59:04 AM

Automated valuation models (AVMs) are services that incorporate data and mathematical modeling to provide real estate property valuations—usually providing a snapshot of a property’s momentary value, using comparables, much like an appraisal. However, appraisers who suspect that AVMs could render human appraisers irrelevant apparently don’t have much to worry about—yet.

On the one hand, an AVM report is that you can get it in a matter of seconds, and it will contain helpful information. On the other, it's never complete, and still leaves plenty of work for the appraiser.

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Topics: automated valuation models