Wednesday , 20 January 2021

Rachel Massey and Woody Fincham

Rachel Massey began in the real estate field in 1984, first in sales, then seguing full-time into appraisal in 1989. She earned her SRA designation from the Appraisal Institute in 2004, and was recently awarded the AI’s new review designation, the AI-RRS. Rachel has spent the majority of her appraisal career in the fee world as an independent appraiser focusing on private client needs including divorce and estate work as well as other private party needs. She has also worked on staff as an appraisal manager and senior level reviewer on the post-funding side of the mortgage world. Woody Fincham, SRA is the Senior Land Preservation Tax Credit Appraisal Consultant for the Department of Taxation in Virginia. He reviews and consults on the valuation work submitted for tax credits. These reports deal with conservation easement and historic façade easements. He also manages a private appraisal practice that specializes in residential valuation with a focus on non-lender reports, review and a small portfolio of lender work. Woody is very involved with the Appraisal Institute and was a discussion leader for the 2014 Leadership Development& Advisory Council (LDAC) after attending as a participant for three years prior to that. He has been a featured panelist at the Association of Appraiser Regulatory Officials (AARO). He has also been a non-member participant in the Collateral Risk Network (CRN) and has recently joined the ranks of national instructors for the Appraisal Institute. He lives in Charlottesville, VA with his wife and three children where he enjoys running, writing, playing music, and hiking.

Depreciated Cost, a Test of Reasonableness

With all of the clamor and excitement that Fannie Mae’s Collateral Underwriter (CU) is creating, we started working on a new article that addresses some possible solutions. In this one, we are expanding a bit on using the cost approach as a means to develop and support some adjustments. Each of the three traditional approaches to value can be used …

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Highest and Best Use is More Than Just a Check Box

As review appraisers, one of the issues that we see all the time is the failure to analyze highest and best use for a market value opinion related to mortgage lending appraisals. This makes sense to a large degree, because many appraisers believe that providing the “yes” answer relieves them of further analysis and communication. We wanted to address this …

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