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  #1  
Old 09-28-2009, 11:17 AM
New Orleans Guy's Avatar
New Orleans Guy New Orleans Guy is offline
 
Join Date: Feb 2006
State: Louisiana
Professional Status: Certified Residential Appraiser
Posts: 286
Default MLS Comp Photos WTF!

I once again have a request for me to replace two photos in a report since they appear to be MLS photos, which yes they are, I admit it. What I am wondering (bring flames if you must). How to always have fresh comp photos in every report. For example, the homeowner says "my house is in O.K. shape, a good size, and 3 beds, 2 baths". Obviously he does not know the GLA size of his house, which is understandable, he just lives there and does not care what the "GLA" number means. I look for possible comps that I will need and see that from the range of 3/2 homes in the area there are 28 possible comps from 1200-2300 sqft. I notice that 2 don't have MLS photos so to be safe I go to those after my inspection to look at and take photos of them. Now it's back to the office, 30-45 minutes depending on traffic. Input my sketch, find the GLA size, think about the condition of the subject, then find the 3 or more comps that BEST FIT the subject out of the 28 that sold in the area. After finding them, adjusting them and working up a nice report with low adjustments, am I supposed to take the 1-1.5 hour round trip to photograph the comps I just used? OR, and I supposed to take all 28 comp photos when I am in the neighborhood? I always like to follow USPAP and be as accurate and professional as possible, so I would love to hear how this is done.

P.S. I am very familiar with the subject area and have appraised about 7-8 homes in the same neighborhood over the last 2-3 years. So yes I am competent to work this neighborhood.

P.S.S. This is about half rant for me, but I am open to suggestions
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  #2  
Old 09-28-2009, 11:21 AM
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Vegan702 Vegan702 is offline
 
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Location: Nevada
State: Nevada
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Drive by your comps and you will always have fresh comp photos. Do you not drive by your comps?
  #3  
Old 09-28-2009, 11:24 AM
LI-Appr LI-Appr is offline
 
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State: New York
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Sorry but the answer is after you find the comps use actually use, you go and shoot them.
  #4  
Old 09-28-2009, 11:29 AM
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Metamorphic Metamorphic is offline
 
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State: California
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Print either to paper or a PDF all 28 comps. After you inspection sit in your car or a loclal starbucks and calc the gla. Then pick the comps you'll use. Then go shoot them. All of them.
  #5  
Old 09-28-2009, 11:29 AM
TJSum TJSum is offline
 
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Location: Absurdastan
State: Maryland
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It is part of the job, you can choose to shoot all the possible comps when doing the inspection, to avoid second trips, or you can go back 2 or 3 times routinely. I have found over my many years, it pays to shoot all possible comps the first time. You should be able to narrow them down with common sense to an acceptable number.

Maybe if all appraisers shot their comp photos, the fees would not have been driven so low by those who cut this corner to justify taking a lower fee.
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  #6  
Old 09-28-2009, 11:29 AM
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444nutman 444nutman is offline
 
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Take a laptop with you. Sketch the property and then search for your comps.
  #7  
Old 09-28-2009, 11:31 AM
Rhino Rhino is offline
 
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State: Maryland
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Quote:
Originally Posted by TJSum View Post
It is part of the job, you can choose to shoot all the possible comps when doing the inspection, to avoid second trips, or you can go back 2 or 3 times routinely. I have found over my many years, it pays to shoot all possible comps the first time. You should be able to narrow them down with common sense to an acceptable number.

Maybe if all appraisers shot their comp photos, the fees would not have been driven so low by those who cut this corner to justify taking a lower fee.
I ABSOLUTELY AGREE!!!

  #8  
Old 09-28-2009, 11:31 AM
LadybugLover LadybugLover is offline
 
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State: California
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Yep, that's what you do - pack up that camera and head back out to take the photos - many times we've discovered wrong photos in the MLS info - I want to know exactly what I'm looking at - what the neighborhood, the houses next door, etc. look like of my comps, not just a hopefully correct MLS photo.
  #9  
Old 09-28-2009, 11:37 AM
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Workbox Workbox is offline
 
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Location: The Rockies
State: Colorado
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There are times I would observe 3-5 homes in one day, no comps. After I conclude with the condition of the subject, I analyze comparables using MLS maps with Birds Eye view or other map source for location description and would pick my comps and then the next following day would take pictures of between 7-15 comps per subject. I just get up early in the morning, come home mid afternoon, finish some that evening and the rest the next day. There have been times when I find new comps because the ones that I have made no sense after-wards. So I just go out and take new ones, but I do let the client know if it's going to make me a little late. Some do not mind Active Listing Photos, but I do try to get those even when I am on site.
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  #10  
Old 09-28-2009, 11:42 AM
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Josh Shapiro Josh Shapiro is offline
 
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Location: Central Florida
State: Florida
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Quote:
Originally Posted by John Panzavecchia View Post
P.S. I am very familiar with the subject area and have appraised about 7-8 homes in the same neighborhood over the last 2-3 years. So yes I am competent to work this neighborhood.
7-8 homes in the past 2-3 years does not necessarily mean that you are competent!
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