Appraisers Blog

SEPTEMBER 19, 2024

One appraiser’s vision of the (near) future: Imagine having your own privately hosted Large Language Model (LLM) or soon-to-debut Artificial General Intelligence (AGI) model. This in-house appraisal tool will input and analyze all your photos, on-site video footage, and LiDAR measured dwelling information. How much money you will make!

Appraisal 93

Appraisal Comps Marketability 93

Appraisers Blog

MAY 13, 2024

Robinson appraiser is TK. It was also in a different neighborhood than the higher comps. Second appraiser used comps of fully renovated homes in an area which sells for a lot more because it’s revitalized. If the appraiser had a free attorney like the Plaintiff, appraiser would have won. Same reporter.

Appraisal 87

Appraisal Comps 87

Appraisers Blog

JUNE 12, 2023

Ralphy is busy making $300 per appraisal and thinks he’s getting rich. He should be earning $700 to $1,200 per appraisal. I wouldn’t take comp photos and make a trip to the county records office for $300. In reply to Spencer Paul.

Appraisal 75

Appraisal Comps 75

BV Specialists

APRIL 11, 2022

There are several filing forms involved and depending on the existing documentation, owners may need to engage with a certified business appraiser to independently declare a final value for tax purposes. In many cases, this would be tangible property only, such as real estate, buildings, machinery & equipment, and personal property.

Appraisal 96

Appraisal Comps Business Valuation Marketability 96

Appraisers Blog

APRIL 13, 2024

An appraisal is an opinion (among other things) of … Scope of Work The contract The neighborhood The site, including H & BU The improvements (condition, deficiencies, adverse conditions and conformity) The selection and adjustment of comparable sales The analysis of prior subject and comp sales Market Value indicated by the Sales Comparison (..)

Appraisal 90

Appraisal Comps Marketability 90

Appraisers Blog

FEBRUARY 6, 2024

Or maybe he lives in the heart of the city and takes elevators to provide appraisal services on perfect square boxes with plentiful comps, mere minutes away from the home office. 1-2 hours inspection and comps. Two and three a day appraisers using typing services, outsourcing, comps sharing, click and go pre write.

Comps 80

Comps Appraisal 80

Appraisers Blog

DECEMBER 24, 2023

In other words you believe that if an appraiser is incompetent and utilizes wrong comps, data, etc. In reply to hammering hank. then he must be racist/biased! smh Never attribute to malice that which is adequately explained by stupidity 1

Comps 81

Comps Appraisal 81

Appraisers Blog

SEPTEMBER 19, 2024

A picture is worth a thousand words but an in person visit (subject/comps) is worth a million. I had a comp in a neighborhood I was well familiar with and after viewing the listing photos I yelled at the agent (in my head of course) where the hell are the pictures of the mountains the house was facing. She had not included one.

Comps 93

Comps Appraisal 93

Appraisers Blog

JANUARY 2, 2025

An appraiser just asked for help in an older thread. FNMA forcing a repurchase and subsequent state complaint because appraiser cross comped across a school district boundary a half mile away. [link] The hits keep on coming.

Comps 95

Comps Appraisal 95

Appraisers Blog

JANUARY 31, 2025

They have created the phenomenon known as data cancer which reduces an appraisal to a rubber stamp that contaminates the comps used for future

Comps 72

Comps Appraisal Marketability 72

Appraisers Blog

JUNE 24, 2023

I believe our appraiser and the selling agent committed Fraud. 1) the comps were issued by selling agent, 2) appraiser used comps that were approx. This house is a disaster and appraiser blatantly lied on condition. Also, ignored a comp that was 4 houses down from ours that sold with in 90 days prior to ours.

Comps 74

Comps Appraisal 74

Appraisers Blog

JUNE 12, 2023

Can’t the appraiser recognize that using two-year-old sales comp’s have meaning and be part of the value conclusion? When these two figures are sorted, they represent stuff, which can be interpreted and verified as meaningful or not. Did it close in 45 days or in ten months?

Appraisal 85

Appraisal Comps Marketability 85

Appraisers Blog

APRIL 18, 2022

…a brilliant ‘work around’ to solve the subject & comps adjustment issues, which Fannie Mae thinks is no big deal… Appraisers, I was chatting with an appraiser buddy last week about the ANSI measuring dilemma we all face when doing Conventional lending reports, which ultimately will wind up with Fannie Mae.

Comps 94

Comps Appraisal Marketability 94

Appraisers Blog

MARCH 7, 2022

The study also shows the appraisal was the LOWEST scored item on the list of discriminatory practices… On February 23, 2022, NAR published the “2022 Snapshot of Race and Home Buying in America” report. Related Posts: Appraisers Don't Use Race Appraisers don’t use race. The study noted that for those who said they witnessed.

Comps 110

Comps Appraisal Marketability 110

Appraisers Blog

AUGUST 4, 2023

Definitely not an appraiser or real estate expert. No one has seen the second appraisal. I saw the most important parts of the first appraisal and ran comps. The first appraisal looks like market value to me. In reply to hammering hank. No one can make that statement. ” 2

Appraisal 75

Appraisal Comps Marketability 75

Appraisers Blog

AUGUST 1, 2023

I think perhaps the Appraisal Institute needs to come out with a new dictionary. So, for my next several appraisal, I left the square feet blank on the comps stating that nationally the figures were wrong and the buyers did not know the square footage of the house and therefore it had no bearing on the value. Sign and deliver.

Appraisal 95

Appraisal Comps 95

Appraisers Blog

MAY 4, 2023

The comps/market and analysis speaks for itself. Is the analysis sound, are the comps conditionally and locationally adequate and relevant to the subject. Who’s concerned about ethnicity or race and how can one appraise a property on that basis? It’s not the appraisers who request that photos of people, ethnic art, etc.

Comps 92

Comps Appraisal Marketability 92

Appraisers Blog

JANUARY 5, 2024

Because we refuse to sign off on their inflated figures which don’t comp in the market. Bpo’s are a totally inadequate substitute for a real appraisal, even a desktop. That’s why I still to this day comp search everything and simply decline orders if I can’t see an avenue to success.

Appraisal 75

Appraisal Comps Marketability 75

Appraisers Blog

FEBRUARY 10, 2025

They have created the phenomenon known as data cancer which reduces an appraisal to a rubber stamp that contaminates the comps used for future

Comps 68

Comps Appraisal Marketability 68

Appraisers Blog

APRIL 18, 2024

Do work that other appraiser’s are not willing to do because they want to cherry pick work that are located in a single county that they live in and don’t have to drive more then 20 minutes for the subject and comps. This is going to be the market for sometime, of which I do agree with you. Expand and find new clients.

Appraisal 90

Appraisal Comps Marketability 90

Appraisers Blog

JUNE 12, 2023

I understand your explanation, but many borrowers don’t read the report in much detail and the $700 +/- paid can always be justified by the AMC as just a appraisal processing fee. They control the fees, turn times, bidding process, comp selection, adjustments, scope and most other appraisal methods.

Appraisal 75

Appraisal Comps 75

Appraisers Blog

SEPTEMBER 20, 2024

Im so tired of amateurs claiming ‘driving the comps’ is inefficient or a waste of time. In reply to Dallas Kiedrowski on Facebook. Clearly they haven’t a clue as to what specifically they are supposed to be looking for. Yet they continue to undermine our profession with short sighted, poorly informed suggestions.

Comps 94

Comps Appraisal 94

Appraisers Blog

MAY 7, 2024

This extends beyond just the comps in your grid to every single comparable in your model. I use True Adjustmnet Trends from Homeputer. Remarkably, it doesn’t require photos to assess and rate the condition and quality of comparables.

Comps 98

Comps Appraisal 98

Appraisers Blog

JULY 19, 2024

A few years ago I put out a poll to appraisers that work in my area and similar areas asking 3 questions with the possible answer of always/sometimes/never Q1 – do you pull the as built and OSS data prior to your site observation of the property? I work in an area where onsite sewage systems (OSSs) are common.

Appraisal 93

Appraisal Comps Marketability 93

Appraisers Blog

JUNE 20, 2024

Some appraisers search purely by price or some other attribute that may not drive value. The smart ones identify the submarket and draw a continuous radius until they see the best 3 comps (we don’t need 6) – At this point you are visually studying the MLS descriptions to get the best. Let’s start at the basics.

Appraisal 77

Appraisal Comps 77

Appraisers Blog

SEPTEMBER 19, 2024

And if the house (comp) has been totally renovated since purchase than the photo it is misleading to the reader of the report. In reply to Dallas Kiedrowski on Facebook. exactly, we can see any location or view differences from the plat maps reviewed.

Comps 94

Comps Appraisal 94

Appraisers Blog

JUNE 15, 2023

‘If an appraiser were to do that, it results in double dipping the adjustments if any other adjustments are made in the grid.’ Three comps of a matching model in the same neighborhood, sales prices 100, 125, 150. Comps selections represent one better, one worse, one similar. In reply to WAD. Quite right.

Comps 98

Comps Appraisal 98

Appraisers Blog

JUNE 2, 2023

Initially they had to sift out the unethical appraisers from the ethical ones, in a climate where ethical appraisers dominated the field. Appraisers whom were identified as not being pliable were hassled out with insane volumes of stipulations, revision requests, fee and turn time inquiries, to the point engagement was untenable.

Appraisal 97

Appraisal Comps Marketability 97

Appraisers Blog

JULY 20, 2024

Imagine being an english professor and still being required to take english comp 101 for literally the rest of your life, and continue to pay for it full price every time. Next up for the appraisal industry; Having to retest for your appraisal license every few years, or face licensing downgrades or involuntary relinquishment.

Comps 93

Comps Appraisal 93

Appraisers Blog

FEBRUARY 16, 2024

Other than cookie cutter assignments where an appraiser has already inspected the subdivision, neighborhood, and surrounding area, including recently constructed similar models, these type assignments are undermining basic appraisal due diligence and competent information gathering for credible results.

Comps 98

Comps Appraisal 98

Appraisers Blog

FEBRUARY 8, 2024

It said, Comp 2, an older, Traditional dwelling, is in the subject neighborhood…” I am baffled. We were asked today to remove the term “Traditional” from commentary about a comparable.

Comps 96

Comps Appraisal Banking 96

Appraisers Blog

FEBRUARY 9, 2024

AS NOTED IN BILL’S REPLY: “If a ROV is requested, an explanation is required from the supplying party/parties as to why the new sales are superior to the appraisers comps.” All that tells people is that Appraisers can be bought! They are defaming all the good Appraisers Reputations.

Comps 94

Comps Appraisal 94

Appraisers Blog

MARCH 28, 2024

The appraisal reports included are not from this Connelly/Motts v Lanham case. 3 comps and 1 active leave little ground to stand solidly on in court. Is there any means that we can get those to review? I’m glad I’m not having to defend such work.

Appraisal 77

Appraisal Comps 77

Appraisers Blog

JUNE 6, 2024

I’ve been appraising for 40 years. I mean, you made $50 more than usual on this appraisal, so please do $1,000 more work for us! Remember, SJW’s and DEi’ers, oops, I mean, appraisers, you don’t count! I’ve noticed that every time “things are going to get better”, they don’t.

Comps 95

Comps Appraisal 95

Appraisers Blog

FEBRUARY 15, 2024

The whole point made by the GSEs for having PDCs and hybrid appraisals is so that the educated and experienced appraiser did not “waste” time driving to a subject property and then to take all the comp pics. hr the non-appraiser in the hybrid model is making more per hour than the appraiser at $25/hr.

Comps 98

Comps Appraisal 98

Appraisers Blog

JUNE 18, 2024

Or we could go back to mortgage bankers and appraisers having direct communication and meaningful professional relationships, better two way accountability. They could ask for a comp search before ordering the appraisal, so the borrower would know ahead of time a reasonable value range of their property’s market value.

Comps 81

Comps Appraisal Technology Marketability 81

Appraisers Blog

AUGUST 14, 2024

During the refi boom, most of my work was very difficult rural work where I’d commonly drive 300-400 miles inspecting the property and taking comp photos. But, now it’s back to “normal” They want to pay the same for a long distance rural appraisal as they do for a house next door. Thus, I don’t bid them.

Comps 95

Comps Appraisal 95