All Appraisers in South Carolina-----------Time for your input.

07/05/2018

This idea was Debi Jones’ of South Carolina, and is now being used all over the Country. Thanks Debi!!!

 

It’s a brilliant idea, and will go far in support of our relevance. Don’t forget Freddie just announced last week that with no appraisals of Condos, it will save 7 to 14 days.  We as a professional group, can honestly and objectively dispute that assertion with our members’ honest reporting of actual data.

VICAP (Virginia Coalition) did this in the winter (November, December, and January).  Granted, slow time of year, but they felt they might get more participation. VaCap’s study indicated a 9 day time lapse from direct lenders as opposed to an 18 day lapse utilizing AMCs AND so-called “portals”.

 

We are trying to show there is a GAP in the perception and the reality of what is being reported.  What is being reported makes the profession look bad for appraisers in the eyes of consumers. We must take away their “Fake News” (sorry guys had to do it.)

 

I have attached a Spreadsheet with a few columns.  If you can participate at any level, it would be a GREAT benefit to us. Remember this is your part of volunteering in your profession.  Giving back a little time is all we ask to help us in making the profession a little better your you and everyone who makes a living appraising. Send anything you have to me and I will consolidate the data for presentation.

 

I know its one more thing on your table, but we need it.

 

Here are the parameters to a fair report.

1.  Determine the date the contract was fully ratified (finalized).

 

2:  For your (our) information record the name of the lender.

 

3.  Record the AMC by name.

 

4.  Record the date of final contract ratification.

 

5.  Record the date appraisal was ACCEPTED.

 

6.  Record the passage of time in days.

 

Let’s agree to distribute to our members ASAP and ask for results ending September 30.  This will give us time to compile and fully report to the AARO conference and other publicly interested entities.

 

This is an important undertaking, and can go far in support of insuring the safety and soundness of our financial systems, especially under current and pending issues!

Please pledge support and get this done.

Any questions may be directed to me by phone......803-361-2268

Let’s go people!

 

Dale Bailey

dalebailey@sc.rr.com