September 21, 2016 – Not too many people would use the above as a headline:)  Let me explain…

About 8 years ago today in fact, the last review I did as Chief Appraiser for the fractional bank (as it was called…or Evil Empire by other banks) was an appraisal of a vacant residential lot in Detroit.  The value conclusion was $100.  It was well supported with two sales at $100 and a listing at $200 that the appraiser adjusted downward 50%.

I had spent 22 years appraising and reviewing.  Made it to Chief Appraiser of a $100 Billion bank.  And there I sat making the big bucks to review a $100 residential lot:)  And, yes, the appraiser’s fee was higher than the value conclusion.

I have used that story many times over the years.  Now, I can top it.  I just got paid to review an appraisal of what has to be kept as a confidential property (and client).  The value conclusion was $0!  Yes, I have finally hit a new low! Now, I can finally say I have appraised and/or reviewed properties ranging in value from $0 to over $2 Billion.  That is a resume builder!  It was annoying to use $100 as the bottom of that range.

Oh, and yes again, my review fee was higher than the value conclusion.  Thankfully, USPAP prohibited me from quoting a review fee that was a percentage of the value! LOL

Everyone have a great day:)