Appraisers Blog

SEPTEMBER 19, 2024

If they really want to make appraising more efficient they need to eliminate the requirement for appraisers to drive to the comps and get pics.

Comps 93

Comps Appraisal 93

Midstreet Blog

APRIL 27, 2022

You may have heard of comparable sales (comps) before in the context of buying or selling a home. Comps are a highly valuable tool to find the value of a home or a business. One of the first steps in planning to sell your business is to get a business valuation.

Comps 40

Comps Business Valuation 40

Appraisers Blog

JANUARY 2, 2025

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. An appraiser just asked for help in an older thread.

Comps 95

Comps Appraisal 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. More redundancy and gobbledygook for USPAP. End of story. Who’s concerned about ethnicity or race and how can one appraise a property on that basis?

Comps 92

Comps Appraisal Marketability 92

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

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

Law 360 M&A

JANUARY 21, 2025

Paul Weiss Rifkind Wharton & Garrison LLP is bringing on Matt Friestedt, the former head of Sullivan & Cromwell LLP's executive compensation mergers and acquisitions practice, as a partner in its New York office.

Comps 52

Comps 52

Law 360 M&A

JULY 1, 2024

White & Case LLP announced Monday the addition of a second chair for its still-growing global competition practice, elevating a 16-year firm veteran to co-chair the group.

Comps 52

Comps 52

BVR

MAY 25, 2023

Finding public comps for valuation purposes can be a challenge, requiring either a fair amount of digging or a considerable expense (and sometimes both). However, finding these data doesn't always have to be a struggle, thanks to Value Analytics. Let's take a closer look at how this platform makes things a little easier.

Comps 100

Comps Equity 100

Harvard Corporate Governance

MARCH 28, 2024

The TSLA board comp case was vastly interesting and even some fun. Related research from the Program on Corporate Governance includes Paying for Long-Term Performance (discussed on the Forum here ) and Pay Without Performance: The Unfulfilled Promise of Executive Compensation both by Lucian A. Bebchuk and Jesse M. Bebchuk and Yaniv Grinstein.

Comps 146

Comps 146

Appraisers Blog

MAY 7, 2024

Except for the fact that the home inspection photos will also be analyzed and input in that database, along with all the appraisal photos from the properties you selected as comps, as they were once subject homes themselves. Here comes the automation that the big fintechs are already using, now centralized.

Comps 98

Comps Appraisal 98

Appraisers Blog

MARCH 28, 2024

I actually think the 4th appraisal used a couple superior comps in terms of quality of construction and 3 car garages. A lot of smaller GLA comps were used though in comparison to the subject. In reply to CRAIG PREECE. Yeah I saw that too. Appraisal 1 and 3 seemed decent.

Comps 85

Comps Appraisal 85

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. You’d better pair your comps up for extraction and allocation before your irv hits a nerve and the grm hops past your caps. It takes me 2.5

Comps 93

Comps Appraisal 93

Appraisers Blog

JUNE 19, 2023

A number of years ago a friend, was driving on a Saturday viewing some comps for an avigation easement and expansion of LAX, He noted new owner, recent buyer mowing his lawn, and also noted that this buyer paid a seemingly high price. In reply to Michael Ford. My collegiate approached the new owner asking about the price paid!

Comps 98

Comps 98

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.” ” LET US NOT FORGET THIS. Do not reply to ROV’s unless this is included by the lender.

Comps 94

Comps Appraisal 94

Appraisers Blog

MAY 14, 2024

As far as I understand it, when an ROV is submitted to you by the lender, who may have received it from the borrower, they have to give you a valid and researched reason as to why their comp(s) is worthy of being considered and is better than your comp(s). This according to Dodd-Frank & the revised ROV rule.

Comps 75

Comps Appraisal 75

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

MAY 4, 2024

Yeah, I did just that once, not to be a butt but because those comps where mislabeled and where more appropriate than two of the comps I had. In reply to Mary Thompson Thompson.

Comps 77

Comps 77

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

MAY 23, 2023

I always use a range of values in my comp search,ie,if a home is contracted for $300,000, common sense dictates that the home is worth more than 200K and less than 400K, I always include the following statement; “In the search for suitable, similar sold comps the contracted sales price is NEVER a comp search criteria or parameter” 1

Comps 75

Comps Appraisal 75

Appraisers Blog

MAY 3, 2024

I’ve done some that have taken a couple of hours because they included many comps. I have to fully research each comp to determine if it’s a true comp or not. I even had one AMC tell me I should go drive by the new comps provided. Then I have to state why it is or isn’t.

Comps 75

Comps Appraisal 75

Law 360 M&A

JUNE 6, 2024

Executive compensation lawyer Jason Ertel has joined Paul Hastings LLP's global compensation, benefits and ERISA practice as a partner in New York, the firm said Thursday.

Comps 52

Comps 52

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. In reply to Joseph. I got a few really good fees during that time.

Comps 95

Comps Appraisal 95

Appraisers Blog

APRIL 26, 2024

Comps oftentimes are 20 miles +. I refused to adhere. Guidelines ask for best comparable for an area. That’s where the sales are located. I cannot create a market which doesn’t exist. I use the data present and make logical inferences and data to support. Same with the %. It is what it is or reconsider doing business in this market.

Comps 93

Comps Marketability 93

Law 360 M&A

APRIL 17, 2024

The Federal Trade Commission's top antitrust enforcer urged merging parties Wednesday to be fully open and transparent with reviewing staffers, warning that trying to get enforcers to ignore potentially problematic material just makes their jobs more difficult.

Comps 52

Comps 52

Appraisers Blog

MAY 4, 2024

Reality is those comps could actually be good but sad news is the value is reduced. Everyone always thinks new comps means a higher value. In reply to Spencer Paul. Not trying to be a butt. They don’t.

Comps 74

Comps 74

Appraisers Blog

JUNE 16, 2023

Imagine actually performing detailed buyer motivation research for every single comp selected. So you follow this silly theory about buyer behavior and adjust down to the individual sq ft for one comp, but then round out your adjustments for the next comp. As I mentioned below, don’t get too caught up in theory.

Comps 75

Comps Appraisal 75

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

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 75

Comps Appraisal Marketability 75

Appraisers Blog

FEBRUARY 16, 2024

By not requiring the appraiser to inspect the subject property, comps, and surrounding properties, appraisers are being set-up to be the fall-guy in the next bubble as the industry is being gutted by nonsense.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 3, 2023

“This girl runs comps, and in my office our goal is to have each comp take about one minute. When we timed her, she averaged at about one or one and a half minutes per comp. We talked about it and now she’s working to hit one minute per comp. [link] In the above post, the following was stated.

Comps 68

Comps Appraisal 68

Appraisers Blog

JUNE 24, 2023

1) the comps were issued by selling agent, 2) appraiser used comps that were approx. Also, ignored a comp that was 4 houses down from ours that sold with in 90 days prior to ours. We live in a small town where every one knows everyone, We were located in WA Stated and purchased from Cross Country here in NC.

Comps 74

Comps Appraisal 74

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

MAY 4, 2024

I am sure everyone has had situations where comps were provided and IF you used them it would actually reduce value, because all they did was look at sales price and did not think to look at square footage, renovations etc.

Comps 71

Comps 71

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. Sadly, and predictably that is not what has transpired, or at least I don’t believe it has.

Comps 98

Comps Appraisal 98

Appraisers Blog

FEBRUARY 4, 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 Marketability Appraisal 72

Appraisers Blog

FEBRUARY 3, 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 Marketability Appraisal 72