The use of forty word sentences is even hard for ME to follow and y’all know how long winded I get!
“Various mathematical techniques have been developed for adjusting comparable market sales prices.” “Although adjustments for differences in the timing of sales and for non-comparability are certainly necessary, it might be contended that the over refinement of mathematical adjustment techniques has frequently encouraged appraisers to lose sight of the basic principles of fixing values by reference to comparable sales.
“Page 291, Real Estate Appraisal A Critical Analysis of Theory and Practice by Paul F Went, 1956, published by Henry Hold and Company, New York.
After data evaluation, a rating score is calculated for the property appraisal based on the number and severity of messages and the valuation impact.” Okay fellow appraisers, please go ahead and reread the above.
Appraisers have been told repeatedly that the Collateral Underwriter is NOT an appraisal review, and that it is NOT an automated appraisal review based on AVMs!