As a business owner and Illinois Certified Residential Appraiser
in good standing, and as a victim of identity theft, I believe a more realistic description of this problem is required.
Again, in my view, because of concerns from lending clients and from regulators that there would not be enough appraisers, under FIRREA the education qualifications for state licensed and certified appraisers were established-back in 1991--at relatively low levels: 120 hours to be a state certified residential appraiser
and 180 hours for a state certified general appraiser.
Please, please, please make me more qualified than the minimum standards that are set for the state certified residential appraiser
, make them the ones that have a minimum amount of education concerning AVMs and let me fee my product based upon my expertise!
At the trial, the Hromisins' certified residential appraiser
testified to an assessed value of $10,400 based partially on a review of 12 comparable properties.
The two levels of state certification are designated as certified residential appraiser
, which equates to a licensed appraiser at the federal level, and general certified appraiser.
The proportions of certified residential appraisers
(56.7 percent) and general/ commercial appraisers (32 percent) increased slightly from year-end 2013.
Recently this situation has been corrected within the Appraisal Qualifications Board's new requirement that all newly licensed residential and certified residential appraisers
must attend a two-day course on "Residential Market Analysis and Highest and Best Use" and pass the course exam; nonresidential appraisers must attend a four-day class.
Certified residential appraisers
may perform work for all residential transactions, but only on non-residential transactions under $250,000.