Tools for work, tools for life. This time of the year for many is a time of reflection and hope. My reflection today is how some principles of our profession may be principles of a successful life; what those principles may be, and how they’ve contributed to my joy and sense of satisfaction and service. Integrity […]
Major challenges exist within our appraiser education given the dramatic changes in technology. These challenges include appraisal standards, our basic and advanced education, and some claims by software providers. A quick overview: Subjective acceptability in standards; Inferential assumption in curriculum; Regression coefficients all over the place. Subjective acceptability. Many consider appraisal to still be […]
The last economic meltdown happened because something wasn’t working. Appraisers can take two attitudes: 1) They are just reporters of “expected selling prices”; 2) They are just following standards. Is it the lenders and underwriters who determine risk, or is it appraisers? So appraisers can say they only do as they are told. Is […]
Can personal opinion be objective? The definition of “Appraiser” in USPAP requires “one who is expected to be competent, independent, impartial, and objective.” Clearly, the definition requires delving into the mind of clients, users, and perhaps the public. Can this be true? Perhaps we can look elsewhere in USPAP for help. The definition goes on […]
Graphs are pretty, have colors, and show things. Graphs are visual. The human ability to see and to visualize is stupendous. It’s the main connect between the world about us and our ability to think, reason, and make decisions. Visualization includes graphic plots, tables, maps, moving and interactive displays, including three, even four-dimensional interface. Part […]
Why should they trust me? Trust me. I am an appraiser. I am trained. I have experience. I have high ethical standards – and a government-issued license which says so! What more could you ask? What more could you ask? To answer this question, let’s look at what the client needs and what is the […]
A hybrid is: The offspring of two plants or animals of different species or varieties, such as a mule (a hybrid of a donkey and a horse). Per my Google online dictionary . . . An appraisal hybrid, as I understand it, is two people, doing two parts of the appraisal job. One looks at […]
We’re told to “support” our adjustments. We hear words like “prove” your adjustments. . . as if there were some magic formula which can give an exact, correct, and absolutely true number. It used to be so easy. . . Our trainer gave us a sheet with the “right” adjustments. Simple. USPAP Standards Rule 1-1 […]
This is Part Four in a series on Hybrid Appraisal. Be sure to read Part One, Part Two and Part Three. The term “hybrid appraisal” (as it’s currently used), means that the appraiser sits at a desk, while someone else (not an appraiser) looks at the property. It appears that the non-appraiser may or may […]
Appraisers have been taught to first analyze the subject property. Is this correct? What would an economist do? Would she analyze the property, or figure out the market? Well yes, an economist would try to figure out a market. First, it’s important to consider what type of market we are talking about. What are the […]
I have been accused of using new big words, when old little ones would do! Yes. Guilty. Why? What is the context? What are the goals? What is the path to the goals? The context is that most readers of these blogs are appraisers or collateral/risk people. The context is also that all related financial […]
Obsolete — Standards?! This is third in a series, as we look at this question from the viewpoints five forces of friction: process, standards, education, client expectation, and regulation. This issue is about valuation standards. We will end with part 7: the mystery solution. In the United States, the predominant standards are USPAP (Uniform Standards […]
Appraiser learning is replete with admonitions to good ethics. These are “enforced” by standards, believability conditions, and even ethical ‘rules.’ Many of us base our lives on spiritual principles (which may or may not be attached to any particular religion). In professional service, it is good to have business ethics align with our personal intent […]
Evidence Based Valuation© – EBV exemplifies the best of what has been called “appraisal modernization.” Do current standards help our progress, or are they in the way of the best future? Part I is an overview. Part II is on education. Standards intertwine with education. Here in Part III we start our multi-part look at USPAP […]
Standards enforce appraisal review as well as development and reporting. Editor’s Note: This is Standards, part 3.3 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. This is the third part topic of the larger topic of how standards may help or hinder the move into […]