MLS Comp Photos WTF!

[Michigan CG]

Now there is a refreshing, professional, unbiased attitutude.
Burned for what? Do you use some sort of accelerant to insure a crispy hide? Still using real wood, or have you converted to gas?

Is it equally egregious to review the appraiser rather than the report?

Actually I will have to disagree with you. The purpose of a review is to determine if the REPORT is credible, reliable and reasonable.

The action (or non action in this case) is what the appraiser did, a violation of USPAP by not adhering to the signed certifications and thus, in some states a violation of state law.

I would guess that turning in an appraisal report because of an illegal non-action would actually be burning the appraiser and the appraisal.

But maybe that is splitting hairs.

 

[Lobo Fan]

LSI requires a date and time stamp on their comp photos. Landsafe has a method for detecting downloaded photos versus camera photos. Not sure how they do it, but they do. If I am going to drive by, why not shoot a picture?

 

[Workbox]

A couple of weeks ago I used an MLS photo for a very simple reason - the battery in my camera died. It is hard to take the "proof I was there photo" in such a case. Would you accept the log from my GPS?

Do you have a Camera on your cell phone?

 

[TJSum]

I think anyone and everyone in the biz has used an MLS photo at one time or another, all for legitimate reasons. It is the exception, and when done, openly stated and explained in the report.

That is not what we are talking about here. What we are talking about is reports with all MLS comp photos, not disclosed or explained. IMO when that occurs, the appraiser is going against the signed certifications of the report.

 

[Ken B]

Actually I will have to disagree with you. The purpose of a review is to determine if the REPORT is credible, reliable and reasonable.

The action (or non action in this case) is what the appraiser did, a violation of USPAP by not adhering to the signed certifications and thus, in some states a violation of state law.

I would guess that turning in an appraisal report because of an illegal non-action would actually be burning the appraiser and the appraisal.

But maybe that is splitting hairs.

No, splitting hairs is noting that many impute opinion as fact.

If a reviewer notes an MLS pic in a report with no comment regarding the nature of the photo, the only fact known to the reviewer is that there is an MLS pic in the report with no comment regarding the nature of the photo.

The reviewer may have an opinion that the appraiser did not drive by the comp, but that opinion is not supported by the facts available to the reviewer.

The reviewer may decide to submit the appraisal to the state noting that the appraiser MAY have stated they performed an action which they did not. Until the state investigates and determines the appraiser is at fault, the only thing anyone knows for certain is that there is an MLS pic in a report.

If the purpose of the review is to develop an opinion of credibility of the conclusions stated in the report, one must wonder how a mere MLS pic could impugn the report's credibility.

 

[Carnivore]

I know that everyoe understands USPAP and that it is the absolute minimum. Wait till the ASB gets done with the version after the upcoming one, there will be even less restrictions.

The problem as stated continously in this thread is that Skippy is breaking every rule he/she can to stay profitable. I could do 1004 all day long for $175 bucks if I never left my desk!!

Standard Fannie Mae minimum SOW:

" SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report."

I am like the others, in most cases there is no excuse for using MLS photos!!

By the way, I dont interpret the above to mean that Google Maps and Images meets the minimum requirements.

 

[CANative]

 

[Webbed Feet]

<....snip....> I don't support lying in a report. I also don't support unfounded accusations.

Do you support the residential side of the trade surviving with any of the remaining ethical members still in the trade?

I have backup cameras and backup batteries. Both always go with me.

 

[NC Appraising]

I'm loving all of these out of the ordinary, only happens once in blue moon, and very rare exceptions to the rule.


Tell that to this guy.

By consent, the Board suspended Mr. residential certification for a period
of one month. Mr. also agrees to complete a course in sales comparison, a
course in appraising manufactured or factory built housing and the 15 hour National
USPAP course. If he fails to complete the courses, he will be suspended for an additional​

eleven months. The Board alleged that Mr. appraised a property located

in Charlotte, North Carolina in May 2005, finding an appraised value of $115,000.​

For comparable sales, Mr. a selected three stick built properties and two manu

​

​

factured/​

modular homes from other areas. He made negative adjustments to his​

comparable sales for the differences. Although Mr. signed a certification that​

he had inspected the exterior of his comparable sales, he did not do so.​

Do I use MLS photo's, yes, once in a blue moon. If I go into the bad area the town, and I got 6 pep's hanging out on the front porch, heck no I'm not going to take a photo. I do take a pic of the street sign to prove I been there or a street scene.​

If you use MLS photos, you better have a way to prove that you drove by the sales.​

Were talking about appraisers that never drive-by the sales, not the exception to the rule....​

 

[DWiley]

... in most cases there is no excuse for using MLS photos

When I do really big, mansion-type properties, I normally use a narrative format. If the subject is simply a starter-castle and not really a mansion, I sometimes use a 1004. I drive the comps, but I almost never use my own pictures because they are seldom as good as the ones in MLS. I also often include the interior pictures of the comps that I get from MLS. I guess someone better go get some kindling and some kerosene. WB will probably volunteer to strike the match.

Guilty until proven innocent is the standard some boards apply. Reviewers might as well adopt the same mentality.

Just so I am clear - It's a cardinal sin for skippy to be biased, but it is OK for the reviewer pursuing skippy to be biased and to reach conclusions without evidence. Have I got that about right?