Hybrid Appraisals are a Lose-Lose for the public and the Real Estate Industry
The premise that 'hybrid' or bifurcated appraisals save time & money and thus are a good option for home owners doing refinances or buyers doing a purchase is short sighted at best. The individual being hired to 'inspect' a property is not held to the same standards nor do they go through the years of training required for appraisers. This being the case, the data provided may often times be substandard or flawed. This puts a tremendous burden on the appraiser, who must comply with USPAP and tremendous risk to that appraiser who must make myriad extraordinary assumptions just to complete the assignment. This combined with the very restricted amount of time (45 - 1 hour) that these reports are expected to be completed in creates a recipe for reports that are quite frankly going to be very poorly researched and the value conclusion will only be as good as the data given and the time allowed to process and understand that data - which is to say - not good at all!
Trying to shortcut the valuation process on what for many people is the largest investment of their lives is foolhardy. It only benefits the loan originators and opens the door for corruption & fraud.