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Are you Feeding the Monster?  

AVMs run on data, your data. Has Freddie or Fannie paid for your data lately? Maybe indirectly. Don’t feed the beast! There are a lot of discussions these days about AVMs displacing appraisers. Is this a tempest in a teapot, a kerfuffle over nothing, or is there a real threat to the appraisal profession? The [...]

Is Freddie Mac’s AVM Eating Your Lunch?

Is Freddie Mac planning to eat your lunch or have they already started? Are they planning to stay for dinner?  What can we do? Will AVMs displace appraisers? AVMs have been making steady inroads for years, but as they do so, are they meeting their claim of greater accuracy and savings to the consumer? I [...]

Is Zillow Providing Appraisals?

A homeowner, Barbara Andersen, who is also a real estate attorney, has filed suit against online realty giant Zillow, claiming the company’s controversial Zestimate tool repeatedly undervalued her house, creating a “tremendous road block” to its sale. Zillow’s Zestimate feature is the cornerstone of its business model. Through it, Zillow attracts millions of home shoppers, [...]

No Comps… No Problem… Appraising Energy-Efficient Homes

CalypsoEdu Food for Thought:   No Comps… No Problem… Appraising Energy-Efficient Homes Major stumbling block in the proliferation of energy-efficient homes in America is not the additional cost associated with construction or improvements, but the Realty world trifecta, which is composed of three disparate, but intrinsically linked professions: The lack of qualified real estate sales professionals [...]

  AQBs proposal in the March 15, 2017 Third Exposure Draft of Proposed Changes to the Real Property Appraiser Qualification Criteria suggests allowing trainees to gain their field experience hours by attending classes designed to simulate that experience. For the last two years, the Appraiser Qualifications Board (AQB) has been examining potential areas of change to [...]

AQB Proposal Streamlines Appraiser Advancement

AQBs proposal in the March 15, 2017 Third Exposure Draft of Proposed Changes to the Real Property Appraiser Qualification Criteria clears the way for licensed appraisers to achieve certified residential status without a bachelor’s degree. For the last two years, the Appraiser Qualifications Board (AQB) has been examining potential areas of change to the Real [...]

FHA, Meth Labs, and Due Diligence

FHA, Meth Labs, and Due Diligence By: Francis X. (Rich) Finigan The epidemic of clandestine drug labs in America goes straight to the heart of FHA’s three S’s: Safety, Security, and Soundness. Environmental hazards or other conditions affecting the health and safety of occupants, collateral security or structural soundness of the dwelling must be identified [...]

Closets and USPAP standards, how are they alike?

Closets and USPAP standards, how are they alike? The Appraisal Standards Board (ASB) is treating retired USPAP STANDARDS 4 and 5 like empty closets….. they just had to fill them! The new STANDARD 4 is titled Appraisal Review, Reporting. STANDARD 5 is now titled Mass Appraisal, Development. This ‘Food for Thought’ is going to discuss [...]

Appraising Energy Efficient Home with Few Comps???

Appraising Energy Efficient Home with Few Comps??? Appraising energy-efficient homes when there are so few comps and the properties are loaded with solar panels, tank-less water heaters, low E windows, geothermal heat pumps; it’s like lions and tigers and bears, oh my! Both Fannie Mae and Freddie Mac require that an appraiser obtain competency to [...]

Assumptions Missing from USPAP

Assumptions now missing from USPAP; was it the leprechauns? If only we could blame the leprechauns for stealing the definition of ASSUMPTION from USPAP. And, maybe if it was the leprechauns, they would’ve left us a pot of gold, but no, it was the ASB. USPAP 2018-2019 no longer contains a definition for an “ASSUMPTION” [...]