[drboom]

Awesome, thanks for sharing.

We’re on a tight budget, so this was more than just entertainment. I don’t know how we’d make it without big cheap bags of flour, rice, etc. from Costco.

Don’t feel sorry for us, though: I cook nearly everything from scratch, and we love po’ folks food.

[drboom]

Awesome, thanks for sharing.

We’re on a tight budget, so this was more than just entertainment. I don’t know how we’d make it without big cheap bags of flour, rice, etc. from Costco.

Don’t feel sorry for us, though: I cook nearly everything from scratch, and we love po’ folks food.

[drboom]

(more hijacking, sorry. FWIW, it seems that the appraiser isn’t supposed to include the unpermitted additions in the appraisal, but their duties beyond that seem to vary.)

[quote=HLS]The information that many of you believe is simply ignorance about appraisers.

My preferred appraiser tells me what a house is worth, I don’t tell him. He doesn’t have targets to meet or lose my business.[/quote]

So far, so good.

[quote]If it isn’t a purchase, he doesn’t know what the loan amount is.[/quote]

I hope this is a typo or misstatement. If not, why should an appraiser know anything about the loan amount? If you can’t see the obvious problem here, then I don’t know what to tell you.

[quote]I am one of his best clients and get great service and priority for borrowers.[/quote]

I don’t understand this one, either. Why should the appraiser care about “priority for borrowers”? He’s there to give a professional, unbiased opinion of what the property is worth.

[quote]Any appraisal is the opinion of the appraiser, it isn’t an exact science, but should be close when there are model matches.[/quote]

Yeah, those “opinions” really worked out well for buyers in the 2002-2007 period, didn’t they? The fat origination fees were pretty sweet for the lenders and brokers, though.

[quote]Business relationships aren’t built on cronyism. They are built on service and other factors.[/quote]

One of those “other factors” has been a complete disregard for industry standards. Same thing happened in loan origination with underwriting, so it’s not like they were the only ones.

[quote]Your income could be threatened in your business if YOUR customer was told that they can no longer do business with you.
You need to go to a third party and they will provide you with what you need by a party of their choosing, and the provider will be getting 50% of what they previously received for doing the exact same work.[/quote]

If you’ve been around a while, you know that the late ’80s brought a lot of changes to the appraisal business as a result of abuses related to the S&L bust. Professional appraisers mostly stuck it out and changed with the times. There’s no reason to believe this will be any different.

[quote]Some of you just don’t get it. I don’t wish that it happens to you. It will ruin the income/careers of many good people who enjoy what they do.[/quote]

I’ve been there, and it seems like no fun at the time. The good news is that there’s a whole wide world of things to do for a living, and without some kind of kick it’s likely you’ll never try anything else.

[quote]This is bordering on a dictatorship/socialism.
It’s going to get worse…. HLS[/quote]

Yes, “it” is getting worse … but not because the appraisal industry is yet again getting some restrictions placed on it because of its widespread failure to do its job ethically.

[drboom]

(more hijacking, sorry. FWIW, it seems that the appraiser isn’t supposed to include the unpermitted additions in the appraisal, but their duties beyond that seem to vary.)

[quote=HLS]The information that many of you believe is simply ignorance about appraisers.

My preferred appraiser tells me what a house is worth, I don’t tell him. He doesn’t have targets to meet or lose my business.[/quote]

So far, so good.

[quote]If it isn’t a purchase, he doesn’t know what the loan amount is.[/quote]

I hope this is a typo or misstatement. If not, why should an appraiser know anything about the loan amount? If you can’t see the obvious problem here, then I don’t know what to tell you.

[quote]I am one of his best clients and get great service and priority for borrowers.[/quote]

I don’t understand this one, either. Why should the appraiser care about “priority for borrowers”? He’s there to give a professional, unbiased opinion of what the property is worth.

[quote]Any appraisal is the opinion of the appraiser, it isn’t an exact science, but should be close when there are model matches.[/quote]

Yeah, those “opinions” really worked out well for buyers in the 2002-2007 period, didn’t they? The fat origination fees were pretty sweet for the lenders and brokers, though.

[quote]Business relationships aren’t built on cronyism. They are built on service and other factors.[/quote]

One of those “other factors” has been a complete disregard for industry standards. Same thing happened in loan origination with underwriting, so it’s not like they were the only ones.

[quote]Your income could be threatened in your business if YOUR customer was told that they can no longer do business with you.
You need to go to a third party and they will provide you with what you need by a party of their choosing, and the provider will be getting 50% of what they previously received for doing the exact same work.[/quote]

If you’ve been around a while, you know that the late ’80s brought a lot of changes to the appraisal business as a result of abuses related to the S&L bust. Professional appraisers mostly stuck it out and changed with the times. There’s no reason to believe this will be any different.

[quote]Some of you just don’t get it. I don’t wish that it happens to you. It will ruin the income/careers of many good people who enjoy what they do.[/quote]

I’ve been there, and it seems like no fun at the time. The good news is that there’s a whole wide world of things to do for a living, and without some kind of kick it’s likely you’ll never try anything else.

[quote]This is bordering on a dictatorship/socialism.
It’s going to get worse…. HLS[/quote]

Yes, “it” is getting worse … but not because the appraisal industry is yet again getting some restrictions placed on it because of its widespread failure to do its job ethically.

[drboom]

(more hijacking, sorry. FWIW, it seems that the appraiser isn’t supposed to include the unpermitted additions in the appraisal, but their duties beyond that seem to vary.)

[quote=HLS]The information that many of you believe is simply ignorance about appraisers.

My preferred appraiser tells me what a house is worth, I don’t tell him. He doesn’t have targets to meet or lose my business.[/quote]

So far, so good.

[quote]If it isn’t a purchase, he doesn’t know what the loan amount is.[/quote]

I hope this is a typo or misstatement. If not, why should an appraiser know anything about the loan amount? If you can’t see the obvious problem here, then I don’t know what to tell you.

[quote]I am one of his best clients and get great service and priority for borrowers.[/quote]

I don’t understand this one, either. Why should the appraiser care about “priority for borrowers”? He’s there to give a professional, unbiased opinion of what the property is worth.

[quote]Any appraisal is the opinion of the appraiser, it isn’t an exact science, but should be close when there are model matches.[/quote]

Yeah, those “opinions” really worked out well for buyers in the 2002-2007 period, didn’t they? The fat origination fees were pretty sweet for the lenders and brokers, though.

[quote]Business relationships aren’t built on cronyism. They are built on service and other factors.[/quote]

One of those “other factors” has been a complete disregard for industry standards. Same thing happened in loan origination with underwriting, so it’s not like they were the only ones.

[quote]Your income could be threatened in your business if YOUR customer was told that they can no longer do business with you.
You need to go to a third party and they will provide you with what you need by a party of their choosing, and the provider will be getting 50% of what they previously received for doing the exact same work.[/quote]

If you’ve been around a while, you know that the late ’80s brought a lot of changes to the appraisal business as a result of abuses related to the S&L bust. Professional appraisers mostly stuck it out and changed with the times. There’s no reason to believe this will be any different.

[quote]Some of you just don’t get it. I don’t wish that it happens to you. It will ruin the income/careers of many good people who enjoy what they do.[/quote]

I’ve been there, and it seems like no fun at the time. The good news is that there’s a whole wide world of things to do for a living, and without some kind of kick it’s likely you’ll never try anything else.

[quote]This is bordering on a dictatorship/socialism.
It’s going to get worse…. HLS[/quote]

Yes, “it” is getting worse … but not because the appraisal industry is yet again getting some restrictions placed on it because of its widespread failure to do its job ethically.

[drboom]

(more hijacking, sorry. FWIW, it seems that the appraiser isn’t supposed to include the unpermitted additions in the appraisal, but their duties beyond that seem to vary.)

[quote=HLS]The information that many of you believe is simply ignorance about appraisers.

My preferred appraiser tells me what a house is worth, I don’t tell him. He doesn’t have targets to meet or lose my business.[/quote]

So far, so good.

[quote]If it isn’t a purchase, he doesn’t know what the loan amount is.[/quote]

I hope this is a typo or misstatement. If not, why should an appraiser know anything about the loan amount? If you can’t see the obvious problem here, then I don’t know what to tell you.

[quote]I am one of his best clients and get great service and priority for borrowers.[/quote]

I don’t understand this one, either. Why should the appraiser care about “priority for borrowers”? He’s there to give a professional, unbiased opinion of what the property is worth.

[quote]Any appraisal is the opinion of the appraiser, it isn’t an exact science, but should be close when there are model matches.[/quote]

Yeah, those “opinions” really worked out well for buyers in the 2002-2007 period, didn’t they? The fat origination fees were pretty sweet for the lenders and brokers, though.

[quote]Business relationships aren’t built on cronyism. They are built on service and other factors.[/quote]

One of those “other factors” has been a complete disregard for industry standards. Same thing happened in loan origination with underwriting, so it’s not like they were the only ones.

[quote]Your income could be threatened in your business if YOUR customer was told that they can no longer do business with you.
You need to go to a third party and they will provide you with what you need by a party of their choosing, and the provider will be getting 50% of what they previously received for doing the exact same work.[/quote]

If you’ve been around a while, you know that the late ’80s brought a lot of changes to the appraisal business as a result of abuses related to the S&L bust. Professional appraisers mostly stuck it out and changed with the times. There’s no reason to believe this will be any different.

[quote]Some of you just don’t get it. I don’t wish that it happens to you. It will ruin the income/careers of many good people who enjoy what they do.[/quote]

I’ve been there, and it seems like no fun at the time. The good news is that there’s a whole wide world of things to do for a living, and without some kind of kick it’s likely you’ll never try anything else.

[quote]This is bordering on a dictatorship/socialism.
It’s going to get worse…. HLS[/quote]

Yes, “it” is getting worse … but not because the appraisal industry is yet again getting some restrictions placed on it because of its widespread failure to do its job ethically.

[drboom]

(more hijacking, sorry. FWIW, it seems that the appraiser isn’t supposed to include the unpermitted additions in the appraisal, but their duties beyond that seem to vary.)

[quote=HLS]The information that many of you believe is simply ignorance about appraisers.

My preferred appraiser tells me what a house is worth, I don’t tell him. He doesn’t have targets to meet or lose my business.[/quote]

So far, so good.

[quote]If it isn’t a purchase, he doesn’t know what the loan amount is.[/quote]

I hope this is a typo or misstatement. If not, why should an appraiser know anything about the loan amount? If you can’t see the obvious problem here, then I don’t know what to tell you.

[quote]I am one of his best clients and get great service and priority for borrowers.[/quote]

I don’t understand this one, either. Why should the appraiser care about “priority for borrowers”? He’s there to give a professional, unbiased opinion of what the property is worth.

[quote]Any appraisal is the opinion of the appraiser, it isn’t an exact science, but should be close when there are model matches.[/quote]

Yeah, those “opinions” really worked out well for buyers in the 2002-2007 period, didn’t they? The fat origination fees were pretty sweet for the lenders and brokers, though.

[quote]Business relationships aren’t built on cronyism. They are built on service and other factors.[/quote]

One of those “other factors” has been a complete disregard for industry standards. Same thing happened in loan origination with underwriting, so it’s not like they were the only ones.

[quote]Your income could be threatened in your business if YOUR customer was told that they can no longer do business with you.
You need to go to a third party and they will provide you with what you need by a party of their choosing, and the provider will be getting 50% of what they previously received for doing the exact same work.[/quote]

If you’ve been around a while, you know that the late ’80s brought a lot of changes to the appraisal business as a result of abuses related to the S&L bust. Professional appraisers mostly stuck it out and changed with the times. There’s no reason to believe this will be any different.

[quote]Some of you just don’t get it. I don’t wish that it happens to you. It will ruin the income/careers of many good people who enjoy what they do.[/quote]

I’ve been there, and it seems like no fun at the time. The good news is that there’s a whole wide world of things to do for a living, and without some kind of kick it’s likely you’ll never try anything else.

[quote]This is bordering on a dictatorship/socialism.
It’s going to get worse…. HLS[/quote]

Yes, “it” is getting worse … but not because the appraisal industry is yet again getting some restrictions placed on it because of its widespread failure to do its job ethically.

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=pri_dk]Appraisals should be a commodity — if some are “better” than others, then something is not right.
[/quote]

{ { { Applause } } }

[drboom]

[quote=HLS]Dr Boom,,, BZZT right back at you.
What do you think that “current supply and demand is” ??
[/quote]

Congratulations, you managed to address one out of seven criteria.

[quote=HLS]I don’t know where you fall into the mix, are you in the mortgage/real estate/appraisal business ?[/quote]

I’m a taxpayer, among other things. That gives me a dog in this fight. Further, my judgment appears to be better than most of the industry “experts” since I called this one long before it peaked–and I said why, as anyone with a shred of common sense could have done.

[quote=HLS]Reporting what previous transactions were is exactly how valuations are done in both a rising and falling market.

What you call a “clear violation” is them doing their job… BZZZT BZZZT[/quote]

No, reread what I wrote in the last sentence. I think I was pretty clear, but if you’re having trouble understanding, let me know.

[drboom]

[quote=HLS]Dr Boom,,, BZZT right back at you.
What do you think that “current supply and demand is” ??
[/quote]

Congratulations, you managed to address one out of seven criteria.

[quote=HLS]I don’t know where you fall into the mix, are you in the mortgage/real estate/appraisal business ?[/quote]

I’m a taxpayer, among other things. That gives me a dog in this fight. Further, my judgment appears to be better than most of the industry “experts” since I called this one long before it peaked–and I said why, as anyone with a shred of common sense could have done.

[quote=HLS]Reporting what previous transactions were is exactly how valuations are done in both a rising and falling market.

What you call a “clear violation” is them doing their job… BZZZT BZZZT[/quote]

No, reread what I wrote in the last sentence. I think I was pretty clear, but if you’re having trouble understanding, let me know.

[drboom]

[quote=HLS]Dr Boom,,, BZZT right back at you.
What do you think that “current supply and demand is” ??
[/quote]

Congratulations, you managed to address one out of seven criteria.

[quote=HLS]I don’t know where you fall into the mix, are you in the mortgage/real estate/appraisal business ?[/quote]

I’m a taxpayer, among other things. That gives me a dog in this fight. Further, my judgment appears to be better than most of the industry “experts” since I called this one long before it peaked–and I said why, as anyone with a shred of common sense could have done.

[quote=HLS]Reporting what previous transactions were is exactly how valuations are done in both a rising and falling market.

What you call a “clear violation” is them doing their job… BZZZT BZZZT[/quote]

No, reread what I wrote in the last sentence. I think I was pretty clear, but if you’re having trouble understanding, let me know.

[Author]

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