I have noticed that recently appraisers are starting to
look at the condition of homes. Although
I have no real issue with this practice I am curious about the training that
these appraisers have obtained that allows them to comment on rot, deterioration, electrical, plumbing
and various other issues.
While doing a
home inspection here in Keizer, Oregon the other day, the client and agent mentioned that the
appraiser had commented on the rot in the siding at the front and side of the
home. This was good and I did not disagree but what about
the large section of garage door trim that you could stick your finger
through? The appraiser apparently missed
I am not
concerned for my job as an independent home inspector/ consultant. I am just curious about the direction of the appraisal industry. I have no training and very
little knowledge about home values, so I try to not comment on, or even pay
attention to home prices. I thought the inverse might be true for appraisers. There is no
doubt that an untrained person could recognize significant deterioration in the
siding but what about the termite infestation at the very back of the stairs
that was not recognized because the person has no training on wood destroying
organisms? Does that not become a condition of the loan?
I guess I am just venting/wondering out loud. Where do you think this issue/appraisal industry is headed?
Jim Allhiser President/Inspector