Steve Traub, ASA

Appraisal Regulations Du Jour

IN A RECENT New England Real Estate Journal survey, I was asked, what was the most important issue affecting appraisers today? My answer discussed the mood swings of recent appraisal regulations.

Granted, change is constant. But where is it proclaimed that appraisal regulations must change more often and be less predictable than even events in the OJ trial. Specifically, I'm referring to appraisal regulations dealing with appraisal reports and how and in which cases they must be performed. Keeping up with and understanding these changes are getting to be full time jobs for appraisal users

Some regulatory changes taking place are both large and extreme. Granted, some of these changes solve the problem du jour, but often they create problems greater than they solve.

One moment only an appraiser with 100 years experience must perform only 100 page reports, the next moment nearly anyone can write a number on a piece of paper and call it an appraisal, evaluation, or whatever the term of the day may be.

Not only is the overall real estate market cause for uncertainty, but also now changing appraisal regulations are becoming the greater cause for uncertainty.

The author, Stephen Traub, ASA, is Chief Commercial Appraiser for Property Valuation Advisors, Newburyport, MA. He is a certified general appraiser in NH, ME and MA. He can be reached at (508) 462-4347 or:

By e-mail at: straub@shore.net.

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