MLS Comp Photos WTF!

[Laughing Heir]

So therein lies the real crux of this thread for me. I've probably driven by hundreds of thousands of properties in my 25 years of appraising. So does that fact meet compliance standards with regard to driving by or viewing the comps for every appraisal I do, even though I don't re-view them as of the 'effectve date' of my appraisal?

If the answer is yes, as Mr. Garrett suggests, what difference does it make where the current or old source of the photo comes from?

Discuss.

I wish that were the case. My family has been in real estate valuation since the 1950s and I have a lot of photos!

I'd say a season or so (every 4-5 months) would be a reasonable shelf life for a comp photo. I'll stick in the caveat that the appraiser stays on top of things happening in his/her market (zoning, land use changes, construction, and so on) so that s/he knows if something has changed in the vicinity of that sale.

I should add, this comment is extremely market sensitive. We don't have tear downs where I work, if you're market is a desirable coastal area you should probably dig a little deeper.

But I'm a noob so that's only worth about $0.01

 

[DMZwerg]

So therein lies the real crux of this thread for me. I've probably driven by hundreds of thousands of properties in my 25 years of appraising. So does that fact meet compliance standards with regard to driving by or viewing the comps for every appraisal I do, even though I don't re-view them as of the 'effectve date' of my appraisal?
.

WOW!
Never heard of anyone before who lived in an area where there are absolutely no changes to any property over 25 years!


Houses never burn down, are never replaced for being "tear downs" too small for the lot, no depreciation over time, no additions, no new decks or patios, porches are never enclosed, nobody ever expands the attic into living space or pots in dormers, etc, etc ...
:laugh:


I have heard the argument before ...
... in person ...
... from a guy who appraised for over 25 years ...
... and is no longer licensed! :icon_mrgreen:

 

[Mike Ciaccio]

My USPAP instructor said it's okay to use an MLS or tax record photo as long as you disclose this. Usually right next to the pic: "MLS photo used". The garage could be open, a cop could live there, kids playing outside, files are corrupt (it happened to me 3 wks ago) ... As long as you actually drove by and visually inspected the property from the street it doesn't matter what photo you use. Or even if you can't seem to find the house ... as long as you disclose this and use a "public" pic w/ eff. date of pic I have never had a problem w/ UW or QC.

Here's an example where tax/MLS pic is a better representation of the site than your pic. Doing retrospective 10/2006 and all the county tax pics are from 10/2006. Those photos are more accurate to what the property looked like when it sold in 2006 than my current pic with grass and weeds 2' high. But you still drive by and have your own pics on file to CYA and disclose. We get payed descent $ to drive around listening to XM radio and snapping photos. Wish the whole job was that easy!

Might take more shortcuts w/ out the XM tho! ;D

 

[DMZwerg]

My USPAP instructor said it's okay to use an MLS or tax record photo as long as you disclose this. Usually right next to the pic: "MLS photo used". The garage could be open, a cop could live there, kids playing outside, files are corrupt (it happened to me 3 wks ago) ... As long as you actually drove by and visually inspected the property from the street it doesn't matter what photo you use. Or even if you can't seem to find the house ... as long as you disclose this and use a "public" pic w/ eff. date of pic I have never had a problem w/ UW or QC.

That may be the USPAP perspective but not necessarily the legal perspective.

The person who takes a photograph owns the rights to the photograph, although he can give up all or partial rights to another group. That was the hinge of the case against the artist who made those Obama/Hope posters. By using a photo he did not have rights to use he ended up in legal trouble.
Therefore the points are:

1) Is it legally permissible to use your local MLS photos in reports?
2) Are there any client stipulations against using MLS photos in your reports?
If one and two then both allow use of MLS photos then the question becomes 3) Is it ethical to use MLS photos if use calls into question whether or not you actually inspected the comparable properties?

OK, :new_snipersmilie:away again! :laugh:

 

[Mike Garrett RAA]

Say what do you and do what you say. The certifications don't mention "photographs"; however, they do say the appraiser inspected the comparable properties from at least the street.

USPAP doesn't even talk about photographs. Your instructor was correct. There are times an MLS photograph is more representative and should be used. Sometimes the appraiser cannot get a clear representative photo of a comparable for any number of reasons. Explain what you did and why you did it...and move on.

 

[Webbed Feet]

Say what do you and do what you say. The certifications don't mention "photographs"; however, they do say the appraiser inspected the comparable properties from at least the street.

USPAP doesn't even talk about photographs. Your instructor was correct. There are times an MLS photograph is more representative and should be used. Sometimes the appraiser cannot get a clear representative photo of a comparable for any number of reasons. Explain what you did and why you did it...and move on.

And then when you catch another appraiser using nothing but MLS photos, and after driving all this appraiser's comps it is very obvious there are multiple omissions and grievous USPAP violations from stem to stern in the resulting appraisal report.... file a complaint on the appraiser's tail feathers and let them explain to their board how they missed the nuclear power plant in the backyard of comp number two..........

 

[Mike Garrett RAA]

None of those things in my neighborhood!

 

[Stone]

What I've learned from this thread is that an appraiser looking to hide flaws needs to go and shoot the properties himself.

 

[Michigan CG]

What I've learned from this thread is that an appraiser looking to hide flaws needs to go and shoot the properties himself.

I have sent my 19-year old daughter out to take comp photos on occasion.

 

[Ken B]

I have sent my 19-year old daughter out to take comp photos on occasion.

I always thought you might be a skippy.