Appraisers Blog

OCTOBER 20, 2023

I’m a Certified General Appraiser that started appraising in 1984, almost 40 years ago! Spent the majority of my career appraising both residential and commercial properties in a major metropolitan market. Like most of you, I really enjoyed appraising and was proud of my profession.

Comps 67

Comps Appraisal Marketability Banking 67

Appraisers Blog

JANUARY 11, 2024

I came across a fraud scheme several years ago involving a community of fourplexes, where the sellers falsely purchased a few model matches for well-above market – with fraudulent appraisals – to then use as comps for real sales. The free (real) market always wins.

Comps 64

Comps Appraisal Marketability 64

Appraisers Blog

OCTOBER 23, 2023

‘You know what the problem with appraisers is? They get really peeved when I call them on the appraisal gap clause. The appraisal gap cash promise clause is not just a tool to win the contractual pole position, but rather the expression of a buyers willingness to drive the entire market benchmarks upward.

Appraisal 72

Appraisal Comps Marketability 72

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.

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Appraisal Comps Business Valuation Marketability 88

Appraisers Blog

JANUARY 29, 2024

Heuristic, I had a very similar appraisal situation on a home about 8 miles from my office. I never received a request for the appraisal assignment, but I knew the listing agent involved in the purchase. She was upset about the appraisal comps used and value conclusion ($2.1 In reply to Heuristic.

Comps 66

Comps Appraisal Marketability 66

Appraisers Blog

JUNE 27, 2023

Possible avenues of liability; listing agent, buyers agent, home inspector, real estate appraiser. There is also a specific appraisal issues forum meant for general public on another popular website The Appraisers Forum. link] NC appraisal board, how to file a complaint. One sale example does not set the market.

Appraisal 71

Appraisal Comps Marketability 71

Appraisers Blog

JULY 27, 2023

Also each comp. Giving into the power grabber’s NEWSPEAK practices is destructive to our profession, market participants and our country. I only do narrative – non-lender reports – each stating which school district a property is in. write-up states its school district. School districts affect value.

Appraisal 73

Appraisal Comps Marketability 73

Appraisers Blog

FEBRUARY 16, 2024

Here is a fun appraisal reporting exercise; Detail the initial list price, then the final list price, then the actual sales price, of subject and all selected comps. The appraiser even when present was powerless to stop the domino effect, because value acceptance sales records were already on the books with the inflated figures.

Comps 58

Comps Appraisal Marketability 58

Appraisers Blog

JANUARY 26, 2024

Talk honestly to people about how much your fee was, how you researched the market, and what you thought of the home. This does not comp out. Or I have researched this and think another appraiser would be a better fit for the benefit of the lender and the borrower, so I’ll pass on the order and wait for the next one.

Comps 57

Comps Appraisal Marketability 57

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. The study examines homeownership trends and challenges by race and location to explain current racial disparities in the housing market.

Comps 106

Comps Appraisal Marketability 106

Appraisers Blog

JANUARY 30, 2024

In reply to Retired Appraiser. I understand what you are saying about the Govt should not be able to restrict discussion about fees, but fees are completely dependent on market. So, I have no issue with talking fees, but they should be based on hourly rates, not gross billing for each report.

Comps 60

Comps Appraisal Marketability 60

Appraisers Blog

JANUARY 2, 2024

[link] A substantial portion of well developed appraisal is based on logical inference… Recognized methods is also a somewhat subjective topic. Or alternatively that if there are scarce ‘good comps’, the adjustment scales may need to expand. ‘Best of ability developmental methods.’ ’ Thoughts?

Fair Market Value 62

Fair Market Value Comps Appraisal Marketability 62

Appraisers Blog

JUNE 14, 2023

Whatever happened to match pairing or market reaction? Every line item adjustment (no matter what it is) should be in terms of differences in VALUE recognized by the market you are appraising in NOT COST! MR. APPRAISER YOU ARE NOT THAT GOOD; YOU ARE NOT BETTER THAN THE MARKET! Dave, I could not agree with you more.

Comps 72

Comps Appraisal Marketability 72

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 87

Comps Appraisal Marketability 87

Appraisers Blog

JUNE 15, 2023

My reports are very inclusive and long – to the chagrin of the opponents typically lazy appraiser. Good luck with the demented “current world order” Just finished some self storage work and included 25 rent comps in the report based on a survey I conducted. This is in addition to the inclusive appraisal report.

Comps 72

Comps Appraisal Banking Marketability 72

Appraisers Blog

JANUARY 11, 2024

Agents would buy horrible properties cheaply, do the cheapest Home Depot cosmetic job then offer it over market value from their holding company. I think some got friendly with a couple of appraisers because I reappraised some properties just a year after purchase. I’m Latina and speak Spanish so I saw it first hand.

Comps 55

Comps Appraisal Marketability 55

Appraisers Blog

JUNE 14, 2023

If the home is large a reasonable appraiser would absolutely use a threshold figure, I seldom adjust for GLA if the comp is withing 5% of the subject, I’ve also sold a fair amount of homes, and I’ve never had a buyer bring a tape measure to a showing, they just don’t care that much about this element of comparison.

Comps 73

Comps Appraisal Marketability 73

Appraisers Blog

JUNE 12, 2023

The avm picked this up from county records, still uses it as a valid market indicator in it’s twenty home comps set to this day. The issue is perpetuated by lackluster realty agents and appraisers whom rely on these avm tools. This skewed many local neighbors indicators downward.

Comps 60

Comps Appraisal Marketability 60

GCF Value

SEPTEMBER 28, 2022

and the small business acquisition market has changed significantly. For instance, when we search PeerComps for ALL franchises sold in 2019 (pre-COVID) vs 2021 (post-COVID), the multiple of SDE were as follows: 2019 = 2.89x (138 comps). 2020 = 2.94 (64 comps). 2021 = 3.01 (8 comps). One year later. Contact us here.

Comps 52

Comps Dividends Appraisal Marketability 52

Appraisers Blog

APRIL 18, 2024

This is going to be the market for sometime, of which I do agree with you. 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.

Appraisal 82

Appraisal Comps Marketability 82

Value Scope

JANUARY 13, 2021

What is the market “at the well” valuation? What does it mean to make oil or natural gas “marketable”? It is true that oil and gas production involves complexities that other businesses do not have, and the gathering, processing, transportation, and marketing processes and costs can be opaque. What are the gross profits?

Fair Market Value 130

Fair Market Value Discounted Cash Flow Treasury Marketability 130

Appraisers Blog

NOVEMBER 15, 2023

Where there is a scarcity of recent comparable sales data, the Appraiser may include sales older than 12 months as additional sales in markets. If dictates for appraisal performance are not in that hand book, they are not GSE policy but rather a lender specific policy.

Appraisal 67

Appraisal Marketability Comps Compliance 67

Appraisers Blog

MAY 15, 2023

Just a little extra added on top of what was already a very difficult to navigate system which is inherently biased against the independent appraiser. Simply comp search everything, and refuse to accept assignments if terms of the arrangement are either too close or simply not working. After all, not much has changed.

Appraisal 65

Appraisal Comps Marketability 65

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 93

Appraisal Comps Marketability 93

Value Scope

JANUARY 13, 2021

What is the market “at the well” valuation? What does it mean to make oil or natural gas “marketable”? It is true that oil and gas production involves complexities that other businesses do not have, and the gathering, processing, transportation, and marketing processes and costs can be opaque. 1] What are the gross profits?

Fair Market Value 100

Fair Market Value Discounted Cash Flow Treasury Marketability 100

Viking Mergers

APRIL 24, 2023

For some, the numbers make sense to go to market now. So ensure before going to market that you are accurately tracking your inventory and have an inventory management system in place. The post Not Every Business Is Ready To Go To Market With Viking: Here’s Why appeared first on Viking Mergers & Acquisitions.

Marketability 244

Marketability Business Valuation Comps Compliance 244

Appraisers Blog

APRIL 23, 2024

The comment was written after an underwriter expressed concern regarding a comp that was outside the neighborhood (by way of its census tract) and that no neighborhood adjustment adjustment was applied. With permission from the original author, please feel free to use the below comment as is or edit to your liking.

Comps 75

Comps Appraisal Marketability 75

Appraisers Blog

OCTOBER 23, 2023

How about applying that same standard to the list agent but in reverse; They are required to list at the appraisers value but are not allowed to list higher or lower than that point. This touches on the very reason for an appraiser, a check to balance. Then here comes me, last in the line, the dreaded appraiser.

Appraisal 69

Appraisal Comps Finance Marketability 69

Appraisers Blog

OCTOBER 3, 2023

So if they can’t actually find something against appraisers, they could be manufacturing something just to check that FHFA compliance box to access the additional salary potential. Appraisers are walking ducks with targets on our backs. Think of the appraisal as an argument of a product or cause. Sounds logical to me.

Appraisal 62

Appraisal Comps Compliance Equity 62

Appraisers Blog

JUNE 15, 2023

There is an appraiser around me whom always uses 9-12 comps and then just scoots the ones which have narrower net/gross adjustments to the front, yet leaves the others in there, despite them having insane high net/gross adjusts and adjusted sales values which are at times a quarter or more difference. They’re like anti comps.

Comps 73

Comps Appraisal Marketability 73

Appraisers Blog

JUNE 26, 2023

Appraisal is in the end, a rather simplistic math problem. Those generic appraisals are easy reads, they just ignore all those real world differences and fall back on extracted data to apply adjustments. But for an average suburbia home, appraisal is not as complicated as people think. That’s how I approach it anyways.

Comps 94

Comps Appraisal Marketability 94

Appraisers Blog

FEBRUARY 9, 2024

POST SUBMITTAL RECONSIDERATION OF VALUE (ROV) REQUESTS: Post submittal requests for market value reconsiderations should put an emphasis on closed sales (non active / pending) from within the subjects previously detailed neighborhood boundaries. it gives the appraiser a backboard to push back. Seek the truth.

Appraisal 65

Appraisal Comps Marketability 65

Appraisers Blog

FEBRUARY 23, 2024

Instead follow the prosecuting attornies advice she uses as the basis for the claim which the firms representative compensation is contingent upon; develop a refinance appraisal for a multi family rental unit in depreciated condition, and use comps of renovated single family use home sales on the same block as primary market value indicators.

Comps 62

Comps Appraisal Marketability 62

Appraisers Blog

AUGUST 8, 2023

In reply to an appraiser. On the same day, oh, now the appraiser is just a number hitter and playing ball for the lender. Appropriate to land at or near the sale price if competent comps selection and fair transparent adjustments can lead to that end point of independent conclusion. Really quite simple though.

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Comps Appraisal Marketability 96

Appraisers Blog

FEBRUARY 25, 2024

My fellow peers this is an attack on our profession and a malicious attack on caucasian appraisers period. However; if I were casusain I would be very leery of appraising a minority owned property. No one stopped black people from becoming an appraiser. As appraisers, we are not advocates for anyone.

Appraisal 82

Appraisal Comps Banking Equity 82

Appraisers Blog

OCTOBER 24, 2023

When half of the content in those appraisal reports was basically just identical. Instead the system applied an in the blind expectation where appraisers were held to a peer standard based on the majority group data. Attempts to automate the process to create higher quality outcomes will continue to fail.

Comps 60

Comps Appraisal Marketability 60

Appraisers Blog

JANUARY 17, 2024

… so I clearly understand… an appraiser gets a single family residential FHA purchase appraisal assignment in a blighted area that is crime ridden, on a property that was originally financed by an FHA lender, and has (or is on the verge of) a foreclosure notice. You are not the appraiser that did the report 3 years ago.

Appraisal 82

Appraisal Comps Finance Marketability 82