My New Blog

Aloha,

The process of the review is to solidify the previous appraisal report completed by another appraiser. This is where I receive a report from a lender that was completed by another appraiser either in my county or state. Here in Hawaii I receive reports from appraisal companies in the state as I can easily travel to outer Islands on a field report. In California and Colorado I do whats called a desk review. After reviewing numerous appraisals around the state on all islands, I have to say, Am I the last honest appraiser in the State of Hawaii. One of the last.  A report of real property by an appraiser is the opinion of value for that subject based on a few guidelines by USPAP.  (Uniform Standards of Professional Appraisal Practice). I love the stats that we get from the Board of Realtors in sales, Median, trends, increasing/decreasing/stable markets, local papers, and an appraisers due diligence in analyzing a market area. I thought all these were taught in classes to Residential Appraisers of all levels. Apparently some were sleeping during these studies. When you look at an area where a home was built in 1970 and is 1,500 sf of living space and sold last year for $530,000 and now this year a similar homes are selling for $440,000 in the subject area. Would you consider that a market thats increasing? Hmmm. No!  Does it help to massage the truth a bit? No! I get the feeling some appraisers think only a few will ever see the report they turned in. After experience with several Lenders/Banks, that appraisal goes through many hands. with a click of the mouse on PDF format it can be sent to anyone. I've been specializing in review work the past few years and this blog is for local appraisers in the State of Hawaii. A Duck is a Duck, deferred maintenance is visible from the street. and check the external factors that may effect value. I know everyones opinion is different and respect that. Where it becomes almost criminal is the way some have looked away from obvious problems in a SFR/Condo. On the positive note, most of the appraisals I review are outstanding with credible support of value and I'm sure you know who you are and the company your with. Some though, massage the appraisal to death!! need to examine the ethics class again. Its always nice to have business, just keep the business real. This normally wouldn't be a rant, however, Ive been noticing a trend with some reports I have reviewed here in Hawaii. Appraisers, Keep it real, honest, and accurate. If this blog offends, then maybe check yourself, I may have hit a nerve or one of your appraisals.

Mahalo