Analysis suggests that while industry constraints may improve in the short-run, the long-term constraints are significant. Neither expanded training of new entrants nor automation alone will solve anticipated growth in demand on the appraisal industry.
On May 19, 2017, the Department of Veterans Affairs (VA) published Circular 26-17-14 clarifying that there is no maximum standard for the distance between the subject property and related comparable sale properties.
Experts provide some different perspectives on pricing strategies in today’s real estate market for both buyers and sellers.
NAR submitted a comment letter to the Appraiser Qualifications Board (AQB) in response to the Third Exposure Draft concerning proposed changes to the AQB’s Real Property Appraiser Qualification Criteria.
Michelle Bradley, the 2016 NAR Real Property Valuation Committee Chair, testified before the House Committee on Veterans’ Affairs – Economic Opportunity Subcommittee at a hearing entitled “Assessing VA Approved Appraisers And How To Improve The Program For The 21st Century.”
NAR seeks to determine whether a shortage of appraisers exists and to what extent, and to explore other issues facing the appraisal profession.
The U.S. Department of Housing and Urban Development (HUD) – Office of Inspector General (OIG) recently became aware of a number of instances of appraiser identity theft. The fraudulent schemes varied, but stemmed from someone using the state certification number of a Federal Housing Administration (FHA) roster appraiser. In many cases, the harm was made possible when an FHA roster appraiser provided his or her personal identification number (PIN) for the desktop appraisal software to a colleague or supervisor. The FHA roster appraiser was unaware of the misuse until it came to light, usually by accident. The OIG has released a Fraud Alert that outlines the specific cases and provides a list of Do’s and Don’ts for preventing and handling instances of appraiser identity theft.