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  #1  
Old 07-07-2007, 09:39 PM
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444nutman 444nutman is offline
 
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Default An above ground pool

I just got a previous appraisal on an assignment where the previous appraiser made an adjustment on an above ground pool. Hey it was only $5,000. There is no mention in the report why. I looked at the extra photo page and it appears to be buried half way(2' to 3' out of the ground). The garage door looks like it still on but that SF has somehow ended up in the GLA. This thing was pushed. The problem is the lender wants me to bill him and I am like hell no. I think he was fishing but not coming out saying he was fishing. I usually let guys like that talk to hang themselves. The thing is should I turn this appraisal in. I have not had much luck with the good old state of Florida. The last one I turned in I thought was a slam dunk and 7 months later nothing has happened. That guy has an alphabet soup after his name so he might be a member of the good ole boy network.
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Old 07-07-2007, 09:57 PM
xmrdfghap xmrdfghap is offline
 
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Originally Posted by 44nutman View Post
The last one I turned in I thought was a slam dunk and 7 months later nothing has happened.
7 months is short. I am getting ready to appear for a review I did 18 months ago. A good board and a good reviewer will take all the necessary time before they go after a guy's livelyhood. I testified a few weeks ago on one that I had reviewed two years ago.
  #3  
Old 07-07-2007, 10:07 PM
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Michigan CG Michigan CG is offline
 
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Above ground pool the consensus here it is personal property...

Garage as GLA...yup, pushed value. Turn it in, and Mr. Goodpature had a pretty good case from what I can remember...I think the guy is done.

Join the good fight!

There are many threads about this...do a search. I remember one well...do not get personal about it, just turn it in.

Good luck. You will be getting a buch of good advice come Monday.
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  #4  
Old 07-07-2007, 10:08 PM
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Robert Dunkle Robert Dunkle is offline
 
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Originally Posted by Goodpasture View Post
7 months is short. I am getting ready to appear for a review I did 18 months ago. A good board and a good reviewer will take all the necessary time before they go after a guy's livelyhood. I testified a few weeks ago on one that I had reviewed two years ago.
And it looks like that one will be "off the street"...we hope!
  #5  
Old 07-07-2007, 10:11 PM
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Lobo Fan Lobo Fan is offline
 
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Default

An above ground pool is usually considered personal property. No matter what they do to it, it can never be considered real property. Leaving garage doors on and finishing out the garage is very common here. It saves money and conversations with random building inspectors. When I see that it is almost guaranteed that no permit was pulled.

If you think somebody committed fraud it is your obbligation to turn them in.
  #6  
Old 07-08-2007, 08:22 AM
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Richard Carlsen Richard Carlsen is offline
 
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Quote:
An above ground pool is usually considered personal property. No matter what they do to it, it can never be considered real property.


Though I never consider an above ground pool (AGP) to have any contributory value (none has yet been measured up here in the north country), for arguments sake, I think there are times when an AGP could be considered in the value of an "as is" appraisal.

Consider that when doing an appraisal for lending consideration, the FNMA reporting form requires the documenting of ranges, refrigerators, microwaves, washer/dryers, etc. as well as individual (window) air conditioners. There in nothing that says that these items have to be built in to be listed or considered.

If the value of the property is to be "as is", then the existence of an AGP with all of the associated decking, fencing etc. is certainly part of what the market reaction would be in definition of Market Value. If there is a real appeal and utility to AGP, then it would seem that the appraisers would be well justified in considering any such contributory value in the "as is" value of the property. It would of course be necessary to fully disclose that the AGP was determined to contribute to the overall market appeal and value of the property even though it is rightly classified as personal property.
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  #7  
Old 07-08-2007, 08:48 AM
Kevin Keck Kevin Keck is offline
 
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Quote:
Originally Posted by Richard Carlsen View Post

Though I never consider an above ground pool (AGP) to have any contributory value (none has yet been measured up here in the north country), for arguments sake, I think there are times when an AGP could be considered in the value of an "as is" appraisal.

Consider that when doing an appraisal for lending consideration, the FNMA reporting form requires the documenting of ranges, refrigerators, microwaves, washer/dryers, etc. as well as individual (window) air conditioners. There in nothing that says that these items have to be built in to be listed or considered.

If the value of the property is to be "as is", then the existence of an AGP with all of the associated decking, fencing etc. is certainly part of what the market reaction would be in definition of Market Value. If there is a real appeal and utility to AGP, then it would seem that the appraisers would be well justified in considering any such contributory value in the "as is" value of the property. It would of course be necessary to fully disclose that the AGP was determined to contribute to the overall market appeal and value of the property even though it is rightly classified as personal property.

I have always wondered what my peers were doing with respect FNMA form requirement regarding appliances. It has always been my practice to not include these items unless they were built-in. Most ranges and refrigerators are not and I therefore consider them personal property. I have seen other reports where the appraiser marks the box next to such items with a "P" to designate personal property.

Regarding the pool I would not consider it real estate even if were somewhat built-in. Like Richard's market, it is really a moot point in my market as pools (above and below ground) typically don't add contributory value.

Should you turn the guy in? Don't know. Maybe the garage is finished. Maybe the previous appraiser can make a logical argument that the pool is built-in. In my state it seems they get folks for USPAP violations. Pushing value is not the cited reason. I expect pushing value and multiple USPAP violations might get the job done. Good luck.
  #8  
Old 07-08-2007, 08:56 AM
leelansford leelansford is offline
 
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Originally Posted by 44nutman View Post
I...The last one I turned in I thought was a slam dunk and 7 months later nothing has happened. That guy has an alphabet soup after his name so he might be a member of the good ole boy network.
7 months? That's not a significant amount of time in the world of appraiser regulation. Really.

Also, I suspect that Florida's regulatory agency does not publish each and every sanction against an appraiser's license. I can only speak based upon my experiences here in Illinois, but as the complainant, you may never know the outcome.
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  #9  
Old 07-08-2007, 10:12 AM
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On a review like this, I would request a full interior/exterior 'inspection.' All you have is pictures of the pool...go see it yourself. If you have GLA questions, go look at it yourself. I wouldn't turn anyone in on an "appears to be" or "looks like it is" basis. There should be more description and explanation provided, for sure...but the rest seems to be speculative at best.
Reviwers are also bound by USPAP. As such, I would say it isthe reviewer's duty to upgrade to a full interior/exterior personal inpection when there are serious questions that cannot be adequately answered with the data at hand. Without holding the reviewer to the same standards of due diligence, we do little but introduce the pot to the kettle.
  #10  
Old 07-08-2007, 10:22 AM
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Which USPAP Standards were violated in developing and reporting the appraisal?
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