AI Generated review conditions?

[OSU Beavers]

Just another layer of BS between the appraiser and their paycheck.

 

[TC]

My guess is you didn't hit the value they wanted.

 

[Surf Cat]

I agree with Mr Walker's Post Number 3. I don't think those stips are AI generated.

It appeared to be a tough assignment with extremely limited comparable sales (what else is new).

All of your stips are the meat and potatoes of an appraisal. You only provided "one" two bedroom sale pointing to a lower value. You have some sort of externality pointing to a lower value. Your active listings adjust lower than your opinion of value (a big no no) again, pointing to a lower indication of value.

It appeared you put a lot of emphasis on the comp with the Adu which, per the stip, is far superior to that of the subject.

I would go 3 years back in time and compare all two bedroom sales to three bedroom sales to derive a % amount of the additional bedroom utility.

I would look at recent sales that have the subject's externality and compare those sales to similar sales of the Interior neighborhood to again, derive a % of the difference. These sales don't have to be a 2 bedroom. You can pick 3, 4 bedroom comp sales then compare them to similar 3, 4 bedroom interior comps sales during the same period of time.

Same thing with the adu. Go back in time 36 months compare sales with ADUs to similar sales without, to derive a difference. Comment in the report what you did to obtain these adjustments and save everything in your file.

It's a lot of work and analysis..... good luck.

 

[Carnivore]

Multivariate regression allows an appraiser to analyze many variables simultaneously—such as GLA, age, condition, lot size, bath count, and location influences—and determine how each contributes to sale price while holding the others constant.

This is especially useful because the 1004 form requires appraisers to support adjustments in the Sales Comparison Approach, but it does not prescribe how to derive them. Regression is one of the accepted analytical tools for doing so (though not required by Fannie Mae).

Where o where is RCA aka Burt or Bert when you need him. Sometimes matched pairs is your only way

I regards to active / pending listings comparable these could possibly indicate the direction the market is heading inc reasing
/decreasing or stable
So matched pairs can be legitimate when there are few sale available

Thats my take on what your facing. about the stip./revisions

Tell me where I am wrong. I have been out of this rat race now going on three years

 

[Tom D]

A lot of good time consuming advice. I agree with some here who think you pushed the value, or at least the perception of pushed..

 

[chad hampton]

I've learned over the past 25 years that not all lenders are cut out for non-cookie cutter loans. They struggle with the concept that not all comps will be exactly like the subject.

 

[TC]

A lot of good time consuming advice. I agree with some here who think you pushed the value, or at least the perception of pushed..

Not pushed, came in too low.

 

[glenn walker]

The New Blame Game will default to AI caused it. We can add that to the old stale the AMC did it and the GSEs did it rant threads.

Finally If that review was AI generated it was brilliantly done and there won't be many openings for reviewers over the next few years.

 

[J Grant]

Not pushed, came in too low.

The reverse appears to be the case.

It looks like the OP came in higher than all the comps as adjusted with the exception of one superior sale comp.

 

[glenn walker]

The reverse appears to be the case.

It looks like the OP came in higher than all the comps as adjusted with the exception of one superior sale comp.

Correct as i recall even the listings were lower than value.