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Home | Getting Along With The AVM »

Happy New Year!

By Bill Waltenbaugh, SRA | January 11, 2010

Starting a new year is always a great time to reflect on the past and look toward to the future.  I think that is why so many of us enjoy January 1 and celebrating the New Year.  It is a time of change, a time when we examine the last 365 days and make plans for the New Year ahead.

As for the appraisal industry, we have certainly experienced numerous changes over the past year and, no doubt, will see our fair share of changes in the future.  This can be a challenge.  Once we become accustomed to thinking one way, we often find it difficult to accommodate new thoughts, even when change is taking place all around us.  However, if we never change the way we do things or the way we think, we can never better ourselves.

As for me, the New Year presents a change in career by becoming the new Chief Appraiser at AppraiserLoft.  This is very exciting for me and I look forward to the opportunity to work with you and the AppraiserLoft team.  Together I am confident we will tackle all the changes that come our way in 2010.

One way I plan to address change is by examining new industry standards, challenges and frequently asked questions and providing my thoughts on the subjects via email and making them available through a new section soon to come to our web site.

So to kick off what I believe will be a landmark year for change, I would like to bring your attention to a recent revision to USPAP.  The 2010-11 publication of USPAP now requires appraisers to address prior services performed on the subject property over the past three years.  Below is the specific language addressing this change in the conduct section of the ethics rule:

• Prior to accepting an assignment, and if discovered at any time during the assignment, an appraiser must disclose to the client and in the report certification: any services regarding the subject property performed by the appraiser within the prior three years, as an appraiser or in any other capacity.

Providing this information gives the client an opportunity to evaluate the details and decide if they want another appraiser to complete the assignment.  Quickly communicating these particulars to AppraiserLoft will go a long way in minimizing delays on our end and unnecessary work on yours.  Keep in mind, when searching your database for previous assignments; the address of a newer home may reflect the legal.

With a little effort, I’m sure we can all make this year our best year yet!

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