How can appraisers get more involved in REO appraisal work?
Appraisers who want to get more involved in REO need to get educated – they need to take classes and have a firm grasp on Appraisal Process fundamentals. USPAP says it best and quite simply, they need to know how to write a well documented report that clearly communicates credible assignment results. Contact local real estate brokers and talk to them about the market. Contact local contractors and get information about repair prices. Do research about the numbers on local foreclosures. Find out about the local employment trends. Read the newspaper. Monitor the blogs, attend meetings sponsored by professional appraisal associations.
