CHICAGO (Aug. 11, 2022) – RealEstateRama – Appraisers should be prepared with the knowledge necessary to meet the demand for bifurcated or hybrid appraisals, according to an article published this week in The Appraisal Journal.
The Appraisal Journal is the quarterly technical and academic publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers. The materials presented in the publication represent the opinions and views of the authors and not necessarily those of the Appraisal Institute.
“Understanding Desktop (Bifurcated or Hybrid) Appraisals,” by Sandra K. Adomatis, SRA, and Dawn Molitor-Gennrich, SRA, AI-RRS, examines the new opportunities for appraisers to provide narrow-scope appraisal services in light of the latest pronouncements by Fannie Mae and Freddie Mac on acceptance of desktop, bifurcated, and hybrid appraisals. The authors summarize the circumstances where such services are allowed and the relationship between the two steps in the related appraisal processes.
Read “Understanding Desktop (Bifurcated or Hybrid) Appraisals” in the Spring 2022 issue of The Appraisal Journal.
“Stigma: A Case Study Analysis of Long-Term Environmental Risk Effect,” by Michael Tachovsky, Ph.D., points out that while stigma is sometimes a temporary negative perception, that is not always the case. The article presents an environmental case study reporting that stigma can continue more than twenty years.
“Market Rent and Highest and Best Use: Joined at the Hip?,” by Barry A. Diskin, Ph.D., MAI, AI-GRS, David C. Lennhoff, MAI, SRA, AI-GRS, Richard L. Parli, MAI, and Stephen D. Roach, MAI, SRA, AI-GRS, delves into the definitions of market value and market rent and the relationship between each of these concepts and highest and best use. The article discusses how the concepts interact with use rent and use value. New definitions are proposed to clarify the relationships and to result in more accurate analyses.
The Appraisal Institute, celebrating its 90th anniversary in 2022, is a global professional association of real estate appraisers, with over 16,000 professionals in almost 50 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org.
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