The Technologically Assisted Appraiser

Appraisal technology has come a long way in the last 20 years.

When I started in 1984 most appraisers were measuring buildings using a tape and typing out their reports on the typewriter. Computers were just beginning to make their debut and so were measuring wheels.

Jumping forward to the present (early 2004) the following are just some of the tools we have evolved to.

The Desktop computer and laser or inkjet printer (which have left behind the dot matrix printer) have been with us for most of that time and are just beginning to be phased out by the more mobile notebook computer, portable printer and pocket PC combination utilized by today's modern appraisers.

From 35 mm cameras which depended on expensive drugstore developing of photos that had to be hand pasted to pages in the reports, we evolved to the digital cameras of today which we download to the computer and electronically embed in our reports.

Plat maps (assessor maps) as well as flood maps and location (street) maps had to be turned upside down on the copier and the copies cut and pasted with glue sticks into the report. Today we import all three types from mapping programs on our hard drive or more recently from web based programs directly in to the report and the better appraisal software programs help us do this.

Measuring the property and taking field notes have come a long way from tapes, wheels and hand written notes on a clipboard to laser measuring devices and pocket PC sketching programs, data entry fields and voice notes all of which can be imported by sychronising the handheld with the notebook or desk top computers to avoid the time consuming double entry.

Software utilities such as spell checkers and built in review modules in the appraisal software cuts down tremendously on the internal reviewer's time. To "put together" a hard copy report to go to the client took an additional 10 to 15 minutes of the appraiser's or support person's time. Now with the electronic delivery possible (and predominating the mortgage client's requirements) the report, when finalized, takes from 30 seconds to 3 minutes (depending on modem speed) to be delivered to the waiting mortgage originator or processor who can then print it out on a color printer for submission to the mortgage investor's underwriter (or forward the electronic version.)

The appraiser can now inspect a property at 9 AM, sit in his/her car or van to finish the analysis, attach pictures and maps, print a file copy on a portable inkjet printer (picured above) if desired, electronically sign it, upload it in AppraisalPort or other true EDI (Electronic Delivery) program or encapsulate it with Adobe Acrobat or similar program to a ".pdf" format to the client in seconds. 

Of course some prior research and prefilling in of blanks is required the previous evening but 5 or 6 hour delivery is now available from the "mobile appraiser" using wireless card in a T-mobile "hotspot" or a more recent development known as the "Air Card" which connect to the ubiquitious Internet from anywhere in the coverage area. The mobile appraiser doesn't even have to disembark from the motor vehicle with the latter. 

The mobile appraiser can now accomodate a client's need more rapidly when a correction or change is needed to an already submitted file. With the air card's connection to the internet on the laptop or notebook, the appraiser merely pulls over to the side of the road (after receiving the cell phone call from the client) and using remote access to the office Desktop computer  (such as GoToMyPC) and retrieves the file to the laptop, makes corrections and E-mails it back to the client within minutes.

Appraisal technology continues to evolve to enable an appraiser to tremendously cut down on the ever important turnaround time demanded by the mortgage client in today's business environment. Only those appraisers who remain on the cutting edge of technology will continue to be the first choice of the mortgage professionals of this century.

 To return to the Main Page simply click the back button above.