Appraisers Forum - General Appraisal Discussion http://appraisersforum.com For discussions of Real Estate Appraisal that do not fit into one of other appraisal related forums.Forum Sponsor: Commercial Complete Software en Thu, 17 May 2012 01:43:45 GMT vBulletin 120 http://appraisersforum.com/imagesaf2/misc/rss.jpg Appraisers Forum - General Appraisal Discussion http://appraisersforum.com Realtor Never Heard of an Arms Length Transaction http://appraisersforum.com/showthread.php?t=187683&goto=newpost Wed, 16 May 2012 17:01:53 GMT Below is a response I just got from a realtor on an e-mail I sent looking for details on a potential comp. I edited out the stuff that would... Below is a response I just got from a realtor on an e-mail I sent looking for details on a potential comp. I edited out the stuff that would identify this realtor. This is the kind of stuff we have to deal with every day and why I have such disrespect for most realtors. And this one won the 2011 Excellence Award!

It was a full basement finished, with mechanical room off of that with washer and dryer. There was no seller's concession. Don't know what an arms length transaction is!


COLDWELL BANKER RESIDENTIAL BROKERAGE
1064 Main Street
Branford, CT 06405

My Experiene & Dedication Will Get You Results

2011 Excellence Award Winner - Platinum ]]> General Appraisal Discussion Delta85 http://appraisersforum.com/showthread.php?t=187683 What form do you use? http://appraisersforum.com/showthread.php?t=187680&goto=newpost Wed, 16 May 2012 15:12:40 GMT Appraisal completed "as is" i.e. subject to no repairs. Client called for a repair and wants a 1004D completed to ensure that the repair is completed. 1004D not appropriate since the repair was not called for by the appraiser. See below link. What form do you use in this situation? Apologies if this topic was already discussed.

http://appraisalnewsonline.typepad.c...d-misuses.html ]]> General Appraisal Discussion NJ Valuator http://appraisersforum.com/showthread.php?t=187680 Adjusting for condo fees and amenities http://appraisersforum.com/showthread.php?t=187670&goto=newpost Tue, 15 May 2012 22:27:11 GMT How are you all doing this stuff? I don't normally do it, because my opinion is that you are getting what you pay for. I have never felt a fee adjustment could be quantified. However, I'm starting to see the reviewers are looking for an adjustment. Any thoughts? ]]> General Appraisal Discussion frankstolba http://appraisersforum.com/showthread.php?t=187670 1004MC solution for Solid Earth MLS http://appraisersforum.com/showthread.php?t=187664&goto=newpost Tue, 15 May 2012 19:57:06 GMT I need a 1004MC solution to use with Solid Earth MLS. I have been using one built by Georgia Appraiser for a couple of years but the license expires... I need a 1004MC solution to use with Solid Earth MLS. I have been using one built by Georgia Appraiser for a couple of years but the license expires every year. Is there a free one available online or one that is a one time fee that will with the Solid Earth MLS system? Please let me know asap. Thanks! ]]> General Appraisal Discussion BlueDog007 http://appraisersforum.com/showthread.php?t=187664 Dear Mr. AMC (jokey joke) http://appraisersforum.com/showthread.php?t=187663&goto=newpost Tue, 15 May 2012 19:53:29 GMT Dear AMC, My apologies, but due to unexpected circumstances the appraisal report for the property at 123 Crack House Ln. will be late. In an... Dear AMC,

My apologies, but due to unexpected circumstances the appraisal report for the property at 123 Crack House Ln. will be late. In an attempt to meet your turn time requirement I followed your company recommendation and, upon taking the last two street scene photos, I returned to my car to immediately set to work! While entering my 2nd comparable I was interrupted by a tap on my driver's side window. Upon looking up it I was surprised to see that I had drawn the attention of some local community watch members who had encircled my vehicle. Given their youth, I was a bit surprised that these young men weren't in school - but thought perhaps it was a sanctioned school holiday.

I rolled down my window to see if I could be of some assistance to these fine young gentlemen, but was surprised at their aggessive insistance in wanting to know why I took pictures of their "hood." Further, they incorrectly suggested that I might be an undercover police officer who was interested in the goings on at 126 Crack House Ln. I quickly corrected the misunderstanding and explained that I am merely a residential appraiser and was simply working on a report that needed to immediately be turned in to my client! I tried to explain that it is of the utmost importance that this company receive the report within hours of my property inspection! My livelyhood depends upon it!

To say they were less than understanding is an understatement because it was at this point they insisted I turn over my camera, laptop and wallet. Of course I protested, but the biggest one removed a Glock from his wasteband and, pointing it in my direction, not so politely requested these items again. Consequently, I had no choice but to comply.

Fortunately, they had no interest in my field notes so another inspection will not be necessary. However, I will need to purchase a new laptop and camera, but won't be able to purchase those items until my new credit cards arrive.

I appreciate your patience in this matter and hope this does not adversely affect my tier rating with your fine company.

Sincerely,

Victor Velocity
Burn & Churn Appraisal Company, Inc. ]]> General Appraisal Discussion J in Florida http://appraisersforum.com/showthread.php?t=187663 Location Maps http://appraisersforum.com/showthread.php?t=187660&goto=newpost Tue, 15 May 2012 18:57:23 GMT Checking to see which mapping program most use for their location maps within appraisal reports. Does everyone use what their software vendor... Checking to see which mapping program most use for their location maps within appraisal reports. Does everyone use what their software vendor provides, that we pay for or does anyone use a stand alone product and insert it as an image or pdf file? I am considering using a stand alone such as Microsoft or Delorme.

Thanks,

Harry ]]> General Appraisal Discussion Harry Kessel http://appraisersforum.com/showthread.php?t=187660 And now a word from NAR http://appraisersforum.com/showthread.php?t=187656&goto=newpost Tue, 15 May 2012 16:07:41 GMT From my email: ---Quote--- More than 10,000 REALTORS® from across America will be assembling at the Washington Monument Thursday for the Rally to... From my email:

Quote:
More than 10,000 REALTORS® from across America will be assembling at the Washington Monument Thursday for the Rally to Protect the American Dream.

REALTORS® are a formidable force when we come together with a common purpose.

As you know home ownership is under attack like never before. This is why we must redouble our efforts and be active like never before to elect and support leaders who really understand how vital owning a home is for hard-working American families and the economic health of their community.
Now what do you think they know that we don't? ]]> General Appraisal Discussion Marion Rhodes http://appraisersforum.com/showthread.php?t=187656 Quick Vent http://appraisersforum.com/showthread.php?t=187655&goto=newpost Tue, 15 May 2012 16:04:08 GMT I'm not sure where to post this but I just wanted to rant about another stupid underwriter request. I just got stipped on an appraisal that I turned in several weeks ago to remove Lakeside from the city so that it matches the USPS address. I use alamode and the software verifies all addresses with USPS automatically. I double checked on USPS.com website and it gave me the same thing. So now I'm supposed to put in the addendum that the address is correct as it stands. Grrrrrr...........OK I feel better now, thank you for listening! ]]> General Appraisal Discussion Ken Miller http://appraisersforum.com/showthread.php?t=187655 Basement- finished or not http://appraisersforum.com/showthread.php?t=187654&goto=newpost Tue, 15 May 2012 15:01:01 GMT Lately I've come across a few basement areas (rec rooms, bedrooms/offices, & bathrooms) that are fully finished except for the ceilings. The ceilings (pipes, ducts, floor joists etc) have been painted a uniform matte black. I've always said if it isn't fully finished, it doesn't count as a finished basement area but I've been seeing more and more of these lately.

Anyone else seeing this and would you count it as fully finished or not? ]]> General Appraisal Discussion TimberRidge http://appraisersforum.com/showthread.php?t=187654 1,300 SF House with 6,200 SF Machine shop http://appraisersforum.com/showthread.php?t=187649&goto=newpost Tue, 15 May 2012 03:22:01 GMT I have a litigation case with a 1,450 SF home built in 1950. On the 2.0-acre parcel is also a 1,440 SF frame built office and a 4,800 SF pole... I have a litigation case with a 1,450 SF home built in 1950. On the 2.0-acre parcel is also a 1,440 SF frame built office and a 4,800 SF pole machine shop.

The property was purchased in 2011 after being actively marketed for two years. The property was purchased specifically for residential use for the family and for the owner's business. The husband (he ran the business) tragically died and the machine shop and office have no use to the wife.

The attorney wants to know the value of the property as-is, with all improvements and also the property value hypothetically without the machine shop and the office for litigation purposes.

There are obviously no sales of similar properties. Even finding machine shop sales, or light industrial sales is challenging. Light industrial market participants would use the home as an office, if there were no office, but there is. Residential market participants would not consider the property.

I am 90% sure how I am going to handle it but am open to suggestions and ideas. ]]> General Appraisal Discussion Michigan CG http://appraisersforum.com/showthread.php?t=187649 Why is the value $124,000? http://appraisersforum.com/showthread.php?t=187648&goto=newpost Tue, 15 May 2012 02:46:13 GMT I just read an "appraisal" (if you can call it that). The appraiser came from an hour and a half away and included seven comparables. The ADJUSTED range is $116,000-$159,000.

SO, how did she come up with $124,000?

The report doesn't tell me. There is no reconciliation of value of where this magic number comes from.

I don't know what client would actually accept this POS report. ]]> General Appraisal Discussion Michigan CG http://appraisersforum.com/showthread.php?t=187648 <![CDATA[Unexplained lulls in AMC Refi's]]> http://appraisersforum.com/showthread.php?t=187644&goto=newpost Mon, 14 May 2012 23:45:34 GMT I work a lot of residential refi's through a number of AMC's here in Southeast PA. I have limited my AMC work to a few companies who's requirements I'm used to. My number of AMC's is more than sufficient to keep me plenty busy, with enough extra work that I can afford to turn down low fees or ridiculous assignments. Taking on too many clients tends to lead to spending too much time fielding and turning down work. Usually thing work out just find.
However, there has always seemed to be odd lulls in the business at seemingly random times. Usually, its 2 or 3 different AMC's with 5 or 6 clients that suddenly dry up for a week or so. It also seems that right after these dry spells, I'm blasted with assignments for the following week.
I realize that much of this is the result of being a one man shop and the vagaries of random assignments, but I really perceive at least some pattern here. Has anyone else noticed these patterns? I've always wondered if some banks worked geographic regions when marketing refi's; maybe that's what I'm noticing. ]]> General Appraisal Discussion PhiloFarnsworth http://appraisersforum.com/showthread.php?t=187644 Walked away mid-inspection/vent http://appraisersforum.com/showthread.php?t=187643&goto=newpost Mon, 14 May 2012 23:42:29 GMT I make it a habit of always inspecting and measuring the exterior of singles and multi's first. Its just the way I do business. I want to make sure my floor plan is spot, note possible settlement areas once inside when observed on the exterior, division of units when its a multi and be able to ask questions about improvements when speaking with the home owner.

Today half way through the exterior inspection, the wife comes out and asks that I come inside and do the interior first. I explained that I need to finish taking measurements due to the number of jogs and cantilevers and that I would be another 10 minutes. She said "but cant you just do it after". I explained again that I could not. Then she says "but you're taking too long and we want to put the baby to sleep". The husband comes out and says "didn't the bank already give you a floor plan? don't you already have it". After being barraged by the wife and approached by the husband, followed by a short pause so I didn't misspeak, I answer him "no". He then actually mocks me in a condescending voice and asked if I "have a problem"! I couldn't believe it. At that point, I could only cancel the inspection and tell them they would receive a call from another appraiser. She even asked that I just continue. Unreal. ]]> General Appraisal Discussion MRB http://appraisersforum.com/showthread.php?t=187643 <![CDATA[It's Always Something]]> http://appraisersforum.com/showthread.php?t=187640&goto=newpost Mon, 14 May 2012 21:18:28 GMT Have had the awfulest series of bum properties to appraise... like the big house with the office and accessory unit...the big new house with an agrii... Have had the awfulest series of bum properties to appraise... like the big house with the office and accessory unit...the big new house with an agrii shop...a shop that has Central Heat and Air....hot and cold running water. The church with a mobile home for a fellowship hall. The Hair dresser with a mobile home rental on it... The large shop with no business.. A failed farm that the owner thinks he is going to get running again...oh, lordy.

Finally, 2 acres and a 1200 SF older home... at last, something EASY....until i read the note at the bottom. "This has a cell tower on the back of the lot. It is not in use. We know that may affect value...." :angry: nary a birdnest on the ground anymore. ]]> General Appraisal Discussion Terrel L. Shields http://appraisersforum.com/showthread.php?t=187640 Found a guys personal purchase information http://appraisersforum.com/showthread.php?t=187638&goto=newpost Mon, 14 May 2012 20:03:08 GMT So I'm using Google to research a hotel I'm doing for a client. I Google the address and read some useless information about the property and then I spot my client's name. It's a link to "Panjavi" and describes the Savanwood Wooden Temple Folding & Sag / Teakwood Wooden Swing With Side Stands, Two Pillows, etc. that he bought on June 13, 2009.

Panjavi describes itself as:
Quote:
"Panjiva reduces the costs and risks traditionally associated with global trade by making reliable information more accessible than ever before. Specifically, we're providing our clients with access to reliable information on millions of buyers and suppliers around the world."
Privacy? What's that?! ]]> General Appraisal Discussion CANative http://appraisersforum.com/showthread.php?t=187638