Issue link: http://dsnews.uberflip.com/i/1149365
56 C O V E R S T O R Y / M I K E A L B A N E S E Evolving technology, updated systems, and the impact of natural disasters are all changing the way many handle appraisals. What's next for the industry as 2020 approaches? e world of property valuations has seen numerous ups and downs over the past several years. Everything from natural disasters and economic turmoil to bifurcated appraisals and changing demographics within the appraisal workforce continue to create challenges within this space that will shape it for years to come. With CoreLogic reporting in its May Home Price Index that home prices nationally rose 3.6% year-over-year and are expected to increase an additional 5.6% from May 2019 to May 2020, ensuring correct valuations is as critical as ever to many phases of the mortgage and default industries. With these challenges in mind, how are the professionals serving in this arena adapting and preparing for the future? THE WINDS OF CHANGE During our conversations with the industry professionals working within the sectors of appraisals and valuations, one trend that was often spotlighted is the bifurcated appraisal, also known as the hybrid or desktop appraisal. DS News recently highlighted this evolving trend in a webinar, sponsored by Altisource and entitled "Bifurcated Appraisals: Insights Into an Evolving Industry." Featuring insights from representatives of Embrace Home Loans, Fannie Mae, and Springhouse, the webinar delved into the history of this emerging spin on traditional valuations, in which different parts of the assignment are completed by different individuals. Proponents suggest that bifurcated appraisals may be faster and less expensive than traditional appraisals, but the process has its skeptics as well. William Fall, CEO of the William Fall Group, told DS News that the industry should move forward with caution. "ere are some careful steps that need be taken along the way," Fall said. "I've always felt the best use of the appraiser is in the analytical side, processing data, resources, and other items that are vital to creating a credible report, THE VALUE OF VALUATIONS