Quality Rating-Marshall & Swift

Discussion in 'Urgent - Help Needed' started by mark rebollar, Mar 16, 2011.

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  1. RSW

    RSW Elite Member

    3
    Feb 18, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    We've all taken some hard knocks on this forum. You have to have a tuff skin in order to survive here.
     
  2. Lycabull

    Lycabull Junior Member

    0
    May 31, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Kansas
    Snivelers

    Ya, that's the ticket. Come on here, insult people, and call them names because your iddy biddy feelings got hurt. Very impressive. I bet all the lenders and professionals from the industry that frequent this forum are impressed too?

    You might want to look into one of those anonymous nics if you're going to have a meltdown before you make it to 5 posts.

    Duck: I guess he didn't read your signature?
     
  3. Mr Rex

    Mr Rex Elite Member

    15
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Ha! He called the duck a moderator edit.:rof:
     
    Last edited by a moderator: Mar 18, 2011
  4. Terrel L. Shields

    Terrel L. Shields Elite Member

    58
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Interpolation between the quality ratings is a given and there is instruction inside Marshall and Swift. Even our Assessor uses A, B, C, D, etc. and they do so with a A +10% or a C - 10%, 5%, 15%....

    So two identical homes... one has central heat and air however, and the other has window airconditioner and space heat. One is "Average" and the other "Fair" quality? me no tink so.
     
  5. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    23
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    I have to admit it has been a long time since I have read those.

    I would tend to agree with you. What I call Average- does fall under the "average" description. The Average- tells the reader that the home is average, maybe a little beat up, not as good as the others; an attempt to be descriptive and tell the truth.

    No doubt that many use the "average-" to mislead because the mortgage broker can't sell a product where the subject is marked "fair". Another example of punishing the masses for the sins of the few.

    Now don't get your feathers ruffles, there was no name calling. I will be the first to admit there is always something to learn, and I do, a lot, learn on here, as anyone would admit if they were honest.
     
  6. CANative

    CANative Elite Member

    29
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    We keep flip flopping between condition and quality ratings.

    Agree with the duck. No fair using "+" or "-" in ratings. But I'm not sure it's always a case of not wanting to use the "f" word. What about when two houses are both in average condition or of average quality but one is a little superior or inferior? How does one describe it in the grid if an adjustment needs to be made? I know, describe it in the narrative comments. But it just looks awkward in the grid which is what everyone in the mortgage biz is looking at.
     
    Last edited: Mar 18, 2011
  7. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    23
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    This is a professional forum where people share as professionals. Please treat it as such.

    Moderator.
     
  8. residentialguy

    residentialguy Elite Member

    15
    Mar 24, 2009
    Professional Status:
    Certified Residential Appraiser
    State:
    Minnesota

    Thank you. :clapping:
     
  9. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    23
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    To further this thought the ethical are being punished by some who avoid using "fair" for a condition because of pressure.

    Yes the duck is most likely right technically.

    To me it seems misleading (hey duck see USPAP line 153 "....in a manner that is meaningful and not misleading.") to say a property is average without noting that the "average" condition is not "as average" as the other properties.

    Two weeks ago we had a house that was for the most part average although it was beat up. Carpet had a few stains, people painted the doors a flat white and got paint all over the hinges. The cabinets had some nicks and bangs, that garage door was fixed by someone who apparently had one too many Budweisers.......it was average but in a beat up sort of way.

    Average - fit the property well. It was all cosmetic and $1-2,000 and it is just like the others.

    Thank goodness it was a private party appraisal on GPAR so I didn't break any sacred ratings rules. :D
     
  10. JSmith43

    JSmith43 Elite Member

    9
    May 5, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    Just put a * in front of Average.

    In a SOW addendum include this:

    *Average designates a wide range, from average(-) to average(+), as illustrated below. The appraiser may have sufficient information to grade condition of comps more precisely than the preferred responses of Good, Average, Fair, & Poor.

    If there is a positive condition adjustment in the comparison grid for one comp marked Average and no adjustment for another comp marked Average, the adjusted comp was really rated Average or Average(-), but the appraiser couldn't disclose it that way in the grid due to some data mining related rule based upon a Fannie Mae guideline.:shrug:

    Why not rate them like bond tranches?:laugh:
     
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