Bias against minorities has been “proven” against property value message measurers – at least once. It has also been “proven” that the undervaluation is as much as $500, on average. Something must be done! Let’s blame the appraisers! They keep on “determining” values too low! Does the flurry of blame-placing help resolve the problem? But […]
USPAP requires that an appraisal is an opinion. EBV yields an analytic result. Editor’s Note: This is part IIIb of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. USPAP (Uniform Standards of Professional Practice) is promulgated by the Appraisal Foundation, publisher of the irregularly issued rules, […]
“A new valuation modeling paradigm” are the words used by the late Dr. Marv Wolverton. He is the author of the Appraisal Institute’s book on statistics for appraisers. He created the term in a response to my peer-reviewed Appraisal Journal article: “Common Statistical Errors and Mistakes: Valuation and Reliability.” The article itself can be summed […]
Recent GSE (Fannie Mae and Freddie Mac) guidelines for appraisers and lenders make some assumptions. In particular we can use, for example, the requirements for market analysis and time adjustments. USPAP (Uniform Standards of Professional Practice) Rule 1-4 states that an appraiser must “collect, verify, and analyze all information…and must analyze such comparable sales data […]