Comments on: Regulate those Pesky Out-of-town Appraisers

By: Ryan Lundquist

Ryan Lundquist — Fri, 26 Feb 2010 17:51:43 +0000

I’m sure you’ve seen some interesting things in your line of work since you do reviews. I assume you have Sacramento MLS as one of your sources. I’ve never reviewed anything out-of-state. That’s intriguing. Let’s keep an eye on how this legislation moves and where it goes. I think it’ll be very important to share our views with the OREA.

By: Anthony Blackburn

Anthony Blackburn — Fri, 26 Feb 2010 17:23:13 +0000

Dennis Kerns and I own Apple Appraisal, Inc. We are the appraisal company for a couple lenders and we do all the reviews for a couple CA offices of a large lender that is based in Sacto. I know Sacto like the back of my hand for example. I have Geographic competency, even though I am not there. I have MLS, I talk to agents all the time and I see dozens of appraisals a month from the Sacto Metro area. With a two county rule, I’d be out of business. Or I’d have to hire someone there and be less profitable or charge clients more.

By: Ryan Lundquist

Ryan Lundquist — Fri, 26 Feb 2010 05:03:30 +0000

Interesting indeed, Anthony. I hadn’t thought about that. I would be very curious to see how reviews are addressed for proposed legislation like this. Are you a fee appraiser or staff appraiser? Thanks for your comment.

By: Anthony Blackburn

Anthony Blackburn — Fri, 26 Feb 2010 04:45:08 +0000

An interesting sidebar is reviews. Appraisal reviews are valuations. They are appraisals. We do desk reviews for several clients in many areas. I may be at my desk doing a review on an appraisal on the other side of the state. LandSafe has thier LARA product in which an someone from Texas runs an avm and has an appraiser in the state the property is in sign off on it. The scope of work on reviews in many cases does not require what many would call geographic competency. I know not everyone agrees, but it is USPAP compliant (with the right scope of work) and it is a fact of life in the industry. I wonder how that will be addressed?

By: Ryan Lundquist

Ryan Lundquist — Wed, 24 Feb 2010 00:35:21 +0000

Good thoughts, Michael. Thank you for the comment and the encouragment. Personally speaking, I’m not optimistic that HVCC will be going away, especially since FHA just instituted their own version. I’ll be curious to see what happens.

By: Michael Bolton

Michael Bolton — Wed, 24 Feb 2010 00:00:05 +0000

Lets just hope that the senate adopts similar language as the house, and the HVCC will be eliminated. I couldn’t agree with you more, crack down on the riff-raff with laws in place and we’ll all be better off. Great blog.

By: Ryan Lundquist

Ryan Lundquist — Tue, 23 Feb 2010 14:02:33 +0000

I imagine every trade is like that too. Not every plumber can handle every job. Not every computer technician can fix every problem. Not every real estate agent can sell every house. And on and on….

By: Bryan McDonald

Bryan McDonald — Tue, 23 Feb 2010 11:55:17 +0000

“Not all appraisers are qualified for all types of properties – even in the city they live in” is exactly right and I often get the feeling that some people think if you are an appraiser then you can and will appraise any type of property.

By: Ryan Lundquist

Ryan Lundquist — Mon, 22 Feb 2010 23:57:30 +0000

There’s something to that whole critical thinking element.

By: Keith Klassen

Keith Klassen — Mon, 22 Feb 2010 20:15:33 +0000

Good critical thinking, which is exactly what is missing much of the time from these initiatives that get implemented. Fight the power!