Appraisal Reviews and Their Importance

An article on appraisal reviews that I wrote with Jim MacCrate is now available at ssrn.com:

Appraisal Reviews and Their Importance
by James R. MacCrate, MacCrate Associates LLC and Noreen Whysel

Abstract:
Many articles have been written on the art of reviewing appraisal reports by professional real estate appraisers for bank lending and litigation purposes. This article explains why attorneys, Judges, IRS, assessors and other individuals that obtain appraisal reports from third parties should have the reports reviewed by qualified individuals who are professional real estate appraisers. This article explains the review process, the guidelines that should be followed, and the conclusions that can be drawn from an appraisal review. Some of the reasons for divergencies between appraisal reports are discussed, such as fraud, incompetency, human error, and client pressure. The authors introduce some methods that might be employed in order to minimize conflicts, to promote justice and fairness in the appraisal and legal process.

GISMO Meeting Tomorrow

The next GISMO meeting is tomorrow, May 11th from 12:00pm-2:30pm at the Fund for the City of New York, 121 Sixth Avenue, 6th Floor, New York, NY. Michael Schill of the NYU Furman (Real Estate) Center will discuss the NY Times 2/6 Exposure of New Web site www.nychanis.com. Anyone interested in geographic information systems software is welcome to attend. No need to RSVP. Lunch is provided by the Fund.

The next meeting is Thursday, July 15: Discussion on future of GIS/GISMO/NYC/NYS.

For additional details please see the GISMO website at http://www.geo.hunter.cuny.edu/gismo.