Appraisers are surveyors of the market place; constantly looking at the actions of buyers and sellers and reporting what we see to those who need the information. In the broadest sense, all who utilize real estate are appraisers; however, the professional difference is we perform our analysis of the market as disinterested third parties. We have no desire for the property to be appraised. Our concern is for the property to be appraised according to federal laws, ethical balance, and meeting the need of our client.
For the most part, appraisals are needed by lenders who are willing to loan money for real estate purposes. The appraisal tells the lender what the property is worth as of a specific date so that the lender can make an informed decision relative to risk.
I was very fortunate to be trained by the staff of Charles L. Osenbaugh in the late 1970’s.
Mr. Osenbaugh was very strict as to how we reflected on the profession. He reminded us that people were the kings and queens of their castles and that for most people; the purchase of a dwelling was the most expensive endeavor in their lives. Consequently, you had to leave the buyer and the seller with the knowledge that you knew what you were doing and that they were making good decisions.
A lot of financial water has gone under the bridge over the last 30 years. The fads and foibles of the market place are of little use to me these days. My concern is the public trust. We have to be true to the actors in the market and true to ourselves.
P.S. If you've ever wondered, what's my home worth? Feel free to give us a call.
Thomas M. Ponce
I am Houston Real Esate Appraiser for The Ponce Group, a Houston Appraisal company.