If your work is reliable, it’s credible. If it’s credible it may not be reliable. USPAP (Uniform Standards of Professional Appraisal Practice) defines credible as “worthy of belief.” So how does one strive to be worthy? Well the automatic answers are . . . automatic: 1) have education/training; 2) have experience; 3) have integrity. Let’s […]
Vintage appraisal focuses on a point value opinion. In reality, clients need help with estimating collateral risk, or investment potential. Risk or reliability, if measured, is the uncertainty of the analyzed result, or the opinion of value. Lenders, investors, portfolio managers today are aware of the power of today’s technology. They need a measure of […]
“General” appraisers may not care about the 1004MC (market conditions addendum), or its replacement. But they should care about what happens next! The 1004MC was created by Fannie Mae/Freddie Mac in response to the economic meltdown around 2009. Appraisers were blamed. Everyone else tried to avoid looking culpable. Especially those who had profited greatly. Our […]
Cognitive dissonance is the mental stress we feel when we’re confronted with conflicting beliefs and requirements. How could this possibly be a USPAP issue? USPAP, (Uniform Standards of Professional Appraisal Practice) may cause psychological dissonance in appraisers – because the review standards and practice standards have different requirements! For the appraiser, Standard 1-2(h) requires results to […]
Reasonable reasoning please! Its not as bad as it sounds! We can figure this out. That’s what abductive reasoning means! Figure it out! The three types of reasoning go along with three types of logic: deductive, inductive, and abductive. Deductive reasoning means a general rule leads to a specific conclusion, always true; Inductive reasoning is […]
Truth can be hard to swallow! I find their ‘truth’ not credible. Not believable. Why? Well, for one thing. One important thing. That belief conflicts with MY belief. Clearly, my beliefs are better than theirs! Anybody can see that. At least they should see that. How can they be so stupid? Brad Cable just sent […]