Jon A DiPietra of New York, NY is urging homeowners, buyers, heirs, and small business owners to run a quick self-check before relying on informal valuations for loans, estate planning, or legal matters.

NEW YORK CITY, NY / ACCESS Newswire / March 19, 2026 / Jon A DiPietra, Executive Vice President and cofounder of HT Appraisal, the valuation arm of Horvath & Tremblay, is issuing a public alert about a common and expensive mistake: relying on informal price opinions, automated estimates, or "fast" valuation shortcuts as if they were equivalent to a credentialed appraisal intended for a specific use.

In a recent profile, DiPietra described why valuation needs discipline and context. "Valuation work rarely attracts attention. It sits behind transactions, courtrooms, estate plans, and balance sheets." He also underscored the mindset that separates reliable valuation from guesswork: "To appraise is to study context, weigh evidence, and arrive at a conclusion that can withstand scrutiny." And when people choose speed over process, the consequences tend to arrive later, often at the worst possible time.

The trap: a number without the right purpose

Many people get a value figure early in a decision and assume it will hold up for financing, estate planning, insurance, or litigation. In practice, the "right" value depends on purpose, timing, data quality, and the standards behind the conclusion.

DiPietra's alert focuses on three avoidable pitfalls:

  • Treating online estimates as a substitute for an appraisal

  • Assuming a streamlined valuation route is interchangeable with a full appraisal in complex situations

  • Failing to verify who produced the valuation and what standards were used

How common is the risk?

Market practices are shifting toward speed and alternatives, which can be helpful in the right scenario, but risky when misunderstood.

Here are a few data points that show how widespread valuation shortcuts and related vulnerabilities can be:

  • Appraisal waivers are not rare. An Appraisal Institute analysis reported a Fannie Mae purchase waiver rate of 11.5%, with additional volume using property data variants.

  • Property data-based appraisal waivers have scaled quickly. HousingWire reported that since 2022, more than 60,000 loans have been delivered using property data-based appraisal waivers, and more than 300,000 property data collections have been completed when including earlier pilots.

  • The cost and speed gap encourages shortcut thinking. HousingWire also noted these property data options can run about $350 to $400 less than a traditional appraisal and may be completed in 2 to 3 days.

  • Automated valuations can be meaningfully off. A 2025 PLOS ONE paper comparing automated valuation models reported median error rates on the order of several percentage points, illustrating that model estimates can deviate materially from actual values.

  • Fraud patterns include valuation manipulation and identity misuse. A FinCEN assessment of mortgage loan fraud SARs discussed suspected appraisal fraud tactics, including inflated valuations and theft of a licensed appraiser's information, and reported borrower or investor involvement in a large share of reviewed cases.

Who should pay attention

This alert is aimed at individuals who are:

  • Buying or selling property and using a number to set expectations

  • Refinancing, taking a home equity loan, or negotiating with a lender

  • Handling estate planning, divorce, or inheritance decisions

  • Entering litigation where value could be contested

  • Managing a small portfolio of properties and making hold or sell decisions

Self-check quiz: Are you at risk of the valuation trap?

Answer Yes or No.

  1. Did you base a major decision on an online estimate or quick broker opinion?

  2. Do you assume any valuation number will satisfy a lender, court, or insurer?

  3. Have you not asked what the valuation is for, such as financing, estate, tax, or litigation?

  4. Did you skip verifying the credentials of the person producing the valuation?

  5. Are you relying on a number that is more than 90 days old in a changing market?

  6. Is your property unusual in a way that makes "comparables" hard, such as mixed-use, special-use, or highly customised features?

  7. Are you making a decision where a small percentage error would change the outcome, such as down payment needs, buyout terms, or collateral coverage?

  8. Have you not reviewed the assumptions behind the number, such as condition, occupancy, or income?

  9. Are you using a valuation shortcut mainly because it is faster or cheaper, without checking whether it fits the purpose?

  10. Have you not planned for what happens if the formal appraisal comes in lower than expected?

Quick read:

  • 0 to 2 Yes: Lower risk, but still verify purpose and timing.

  • 3 to 5 Yes: Moderate risk. Slow down and validate the method and use case.

  • 6+ Yes: High risk. Treat the number as provisional until you align purpose, standards, and documentation.

What to do next: a simple decision tree

Start here:

Step 1: What are you using the value for?

  • If it is financing or refinancing: go to Step 2

  • If it is estate planning, divorce, or litigation: go to Step 3

  • If it is curiosity or early planning: go to Step 4

Step 2: Financing or refinancing

  • If you have a standard property and strong recent comps: ask your lender what valuation route they will accept and whether an appraisal waiver or property data option applies, then confirm what that route does and does not cover.

  • If the property is complex, mixed-use, special-use, or income-heavy: plan for a full appraisal and build time into your timeline.

Step 3: Legal, estate, or contested value situations

  • Use a credentialed appraiser with experience in the relevant property type and a report designed for the intended use.

  • Expect scrutiny. Make sure assumptions and documentation are defensible.

Step 4: Early planning only

  • Use estimates as a range, not a fact.

  • Re-check before any binding decision and update with current data and the correct valuation purpose.

Step 5: Validate the basics before you act

  • Confirm purpose and effective date

  • Confirm who prepared it and under what standards

  • Review assumptions that materially affect value

  • Stress-test the impact of a 3% to 10% value swing on your decision

DiPietra encourages individuals to run the self-check today before making a major financial, legal, or family decision based on a single number. Share the checklist with a friend or family member who is buying, refinancing, or handling an estate or property settlement.

About Jon A DiPietra

Jon A DiPietra is Executive Vice President and cofounder of HT Appraisal, the real estate valuation group of Horvath & Tremblay, based in New York, NY. He has more than 25 years of appraisal experience across major property types nationwide, has appraised prominent assets including the New York Times Building and multiple World Trade Center towers, and previously led a 40-person valuation team that produced more than $22.5 million in annual revenue and over 5,000 appraisal reports per year at its peak.

Media Contact

SOURCE: Jon DiPietra



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