There’s a lot of crap on the Internet about civilization’s pending collapse.  There is even stuff on the Internet about USPAP and Sasquatch.  But there is nothing on the Internet about USPAP and Hot Sauce.   So, I figured I’d add to the Internet’s mindless clutter and post about Hot Sauce, USPAP, their relationship, and the demise of western civilization.  But the only problem is that there is not such a relationship.   If western civilization collapses, it will not have its base in USPAP or Hot Sauce. Actually, the title “USPAP and Hot Sauce” is to get more ..read more

WOW!  “USPAP, Sasquatch, NAR, and Comparable Sales” is one helluva name for a podcast!  That’s true, thank  you.  But given that the ramifications of the Sitzer-Burnett are obvious but still unknown, invoked Sasquatch.  And the fact cash equivalency adjustments to comparable sales may become more prevalent than in times past brought all of those concepts together into one big, yet unanswered question.  And that’s the real conundrum.  We don’t know yet what is going to happen. Not only that, but in “USPAP, Sasquatch, NAR, Comparable Sales” I ask a truckload of ..read more

USPAP, analysis, and synthesis are terms we do not hear all that often.  That’s a shame, too.  This is because, according to USPAP, a credible appraisal and a non-misleading report are the results of analysis and synthesis.  Yes, Standard One is the appraisal development standard.  And Standard Two is the appraisal reporting standard.  But we know this, so what is so special about analysis and synthesis? Under USPAP, analysis and synthesis are necessary opposites. To analyze means to deconstruct something, or to take something apart.  On the other hand, to synthes ..read more

Preview, Foreshadow, Predict.  In the context of a real estate appraisal, what do these mean?  Some time ago, I did a podcast on writing the appraisal backwards.  I never meant this to confuse anybody with this.  What I meant was to impart wisdom.  It is wise not to open the reporting form on your computer the instant the appraisal order arrives.  Rather, once it arrives, do the appraisal first.  In other words, come up with a credible value opinion first, then write the report. Why?  Because when you know the end from the beginning, you can preview, for ..read more

Topics such as USPAP and relevant adjustments can bring out the very worst in appraisers, because of the arguments this topic causes.  This is simply because the science of relevant adjustments is taught only superficially in appraisal school.  Yet we teach it is art, or we do not teach at all.  This podcast is about understanding when adjustments are necessary.  Then its  about understanding why adjustments are necessary.  But the praxis of making them is the subject of another podcast.  There are plenty of them out there (here is one of mine). So, let’s tal ..read more

When it comes to USPAP and a verification model, where is that model?  USPAP makes it clear we have to verify the sales data, etc.  But USPAP is strangely silent on what to verify means.  It is equally mute on how to accomplish the verification it demands.  So, is there a reason for this lack of communication on USPAP’s part?  Or, is there some method to the ASB’s madness?  To both questions, the answer is “YES”. When USPAP does not define a term, it is because it sees no reason to do so.  So, as we look at USPAP and a verification model, USPAP (the ASB reall ..read more

Wait a minute!  You say USPAP and neighborhood analysis don’t go together?  In one sense, you’re right.  USPAP does not use the word neighborhood in Standard 1 or 2.  For reasons unknown, the GSEs continue to use the word neighborhood,  even though, in a certain context, it could have racist overtones.  Seems a little hypocritical to me.  But the GSEs have not asked me to function as their ethics police. So, when it comes to USPAP and neighborhood analysis, does the appraiser have to analyze the neighborhood?  That raises the question, “OK, how does one ..read more

Take advantage of USPAP and Extraordinary Assumptions!  Their proper use can provide you with a number of advantages!  On the other hand, their improper use can earn you the opportunity to spend a less-than-pleasant afternoon with your state appraisal board!  How so?  Read on, then listen to the podcast!  To listen to the podcast is why you’re here, right? USPAP and Extraordinary Assumptions means USPAP, under very specific and limited conditions, allows you to guess as a part of your value conclusion.  Guess?!  Yes!  How about an example?  You’re a ..read more

To have a podcast on The Cost Approach and USPAP.  How exciting (not)!  You’re right.  This is not exactly the conversation you’ll have when you get together with friends.  Even if those friends are other appraisers!  But the point is the cost approach is an untapped resource.  It is the sunshine to which appraisers typically do not expose their analytics.  This is a shame, really, since this approach can tell us so much about the quality of our analytics via the other approaches.  How so? We all know that in older neighborhoods, there are likely to be f ..read more

When it comes to USPAP and state complaints, what is an appraiser to do?  The first step is really clear:  don’t do anything – yet.  Why?  Simply because you are in an emotionally unstable state.  You’ve just been attacked personally by some stranger who has absolutely no clue how hard you work!  You want to retaliate – to strike back fast and destructively.  To scorch your attacker’s earth!  Which is exactly why you should do nothing – yet. But when it comes to USPAP and state complaints, there are steps you can take that in the end will protect you and ..read more