Appraisers

The Appraisal Institute has reported that it will lobby Congress for the modernization of the appraisal regulatory process. The issues the Appraisal Institute want to see addressed include the relationship of Federal and state regulations, the ability of appraisers to work in multiple states, more flexibility in the appraisal process and better processes for sharing…

The Appraisal Institute has been advocating the use of alternatives to the Uniform Standards of Professional Appraisal Practice (“USPAP”). USPAP is provided by the Appraisal Foundation and is described as “the generally accepted standards for professional appraisal practice in North America. USPAP contains standards for all types of appraisal services.” The Institute’s Florida government relations…

The impact “green” aspects of a property has on its value continues to be a subject of study and debate. The Appraisal Institute recently reported that a study by a member specializing in the valuation of green homes found that homes with host-owned solar photovoltaic energy systems are sold at a premium compared to homes…

There has been an ongoing feud between perhaps the 2 most important appraisal organizations – the Appraisal Institute and the Appraisal Foundation.  The Institute has been publicly critical of the Foundation and resigned from the Foundation about 5 years ago.  Now, the Foundation has responded very forcefully.

In an open letter to valuation professionals, the…

The Appraisal Institute Board of Directors at its July 30-31 meeting in Dallas adopted the proposed Valuers Code of Professional Ethics as a model code and approved making the VCPE available for use by non-AI professionals as a companion document to the Appraisal Institute Standards of Valuation Practice. The Institute describes the VCPE as containing…

The gap between homeowner and appraiser opinions of home values has nearly doubled since May, according to mortgage lender Quicken Loans. Quicken Loans publishes a “Home Price Perception Index” which it states represents the difference between appraisers’ and homeowners’ opinions of home values. The index compares the estimate that the homeowner supplies on the mortgage…

The Appraisal Practices Board (APB) of The Appraisal Foundation has announced the adoption of the first of three Valuation Advisories related to the valuation of green buildings.  The Appraisal Foundation provides guidance to appraisers and is best known for its “USPAP” publication.

The Advisory, entitled “Valuation of Green and High Performance Property: Background and…

The Institute has been harshly critical of the Appraisal Foundation.  Most recently, the Appraisal Institute, in a Dec. 12 comment letter, reiterated its concern to the Appraisal Foundation’s Appraisal Practices Board regarding an exposure draft that the Institute alleges contains numerous errors.  It alleges that it could damage the appraisal process and impose additional burdens …

The Appraiser Qualifications Board of The Appraisal Foundation released a new exposure draft of proposed revisions to the 2015 Real Property Appraiser Qualification Criteria. It includes a new requirement that all applicants for real property appraiser credentials have a background that does not call into question public trust.  Applicants would be required to provide state …