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MLS Comp Photos WTF!

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As for the "I've lived in the market area for 20 years" (40+ for me) and I don't need to ride the comps is BS. I have close to a photgraphic memory, and I can honestly say that I can not possibly remember the specifics of each property in my small realtively lightly populated home county. Its a red herring excuse.
 
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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.

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No doubt I am late to the party, but do you now see a problem with this practice (assuming that you are communicating appraisals with a Fannie form)?

If I'm understanding your words, you don't view the other (those with MLS photos) sales comparisons "from at least the street" (per SOW in the Fannie form).
 
...this supposed guideline must change .


"It" is not a "guideline"..."it" is a part of the SOW that you attest to when you communicate an appraisal via a Fannie form.
 
"It" is not a "guideline"..."it" is a part of the SOW that you attest to when you communicate an appraisal via a Fannie form.

Ditto.... it is a certification of the report for mortgage assignments.

and don't worry... ;) Keep up with all your google maps, living there for 20 years, old technology excuses... I'm out here, I'm waiting... Sooner or later myself, or someone like me, will obtain a copy of one or more of your reports... And because you're not driving your comps, you'll muck it up, I'll know why you mucked it up, and you and your state board will get to know each other better...

You won't be happy, but I will.... woohoo
 
I guess you have to drive the comps because you cannot use google maps or bing maps to see if there is a highway next door to the subject, or a junk yard, but since I have lived in the area for twenty years , I must drive by the property

Actually, I used GIS maps to determine the property line and noticed the junkyard BEFORE I drove out there. I knew where it was because I lived in the next county to the north for over 40 years, have a friend who used to live about a mile down the road from the property, and drove past the property every workday for well over 12 years. I still drove the comp because driving past a property is NOT the same as doing an exterior inspection, period.

:new_snipersmilie:


I do not deny the requirement is there , My argument is the requirement to do drive by's relies on old technology ,and the guideline needs to be changed . Innovation is a business tool , following outdated guidelines is an anchor for business, any business.
MLS comps pictures are taken by agents of the seller looking to cast the property in the most favorable light. Ever notice that REOs, etc, never seen to have interior photos and properties without an MLS photo are either actually vacant land or REALLY run down properties? Also, as some appraisers do like driving the comps so too some agents and the picture thus may be an old reused picture (missing salient details) or even a totally incorrect picture (flipped is the least problem, could be different property entirely as picture was of a model home before property was built, or is the house 3 doors down, or is from 5 blocks away, or is from a block away from the office, who knows?).

As for Google Maps & Google Earth are very interesting and can help alleviate the question of "where" (although it can be a house off and requires a different set of verification steps) but do you know WHEN the image was taken? Have there been changes? Same with GIS. GIS for the property I live in shows half the driveway on the neighbor's lot (and most along here are so shifted). For example, if I use Google Maps the "approximate address" listed for directly in front of my house is actually that of the house two doors down and our address does not even show up. I know the image is over2 years old as the car in the driveway was totaled out over a year ago and I remember the truck driving by about 3 years ago, yet the copyright is listed as 2009.

So, the adage I learned in college (while an ACS major) still holds true:
"To err is human, but to really fouls things up requires a computer."

Can't say how many times I tried to explain to clerks, etc, that the problem with computers is that people believe that they can NOT be wrong rather than that they are subject to the quality of the input and the programming.

Short version: Verify your data in person!
 
WEB, DO NOT TRY TO SPREAD YOUR WINGS ON ME THEY WILL GET CLIPPED
THOSE WHO LIVE IN THE PAST WILL SOON BE PART OF IT , GUIDELINE OR RULE , it needs to be changed .
Who or what body decided and what year did this decision take place that the drive by of a property is the "best way " to determine its condition, times change and rules or guidelines need to change with them, access to information is much greater ,than just a drive by.
I follow the rules , but does that make them correct? The best way to determine value for our customers ? How many rules or laws or business practices have changed over the years due to technology? Again I say , live in the past and you will become part of it, our profession needs forward visionaries .
 
WEB, DO NOT TRY TO SPREAD YOUR WINGS ON ME THEY WILL GET CLIPPED
THOSE WHO LIVE IN THE PAST WILL SOON BE PART OF IT , GUIDELINE OR RULE , it needs to be changed .
Who or what body decided and what year did this decision take place that the drive by of a property is the "best way " to determine its condition, times change and rules or guidelines need to change with them, access to information is much greater ,than just a drive by.
I follow the rules , but does that make them correct? The best way to determine value for our customers ? How many rules or laws or business practices have changed over the years due to technology? Again I say , live in the past and you will become part of it, our profession needs forward visionaries .

Forward. Straight on to the AVMs. Good plan.
 
One of the biggest things that appraisers have going for them is their ability to see and smell and physically verify the information. It is hard to trick the eye when actually looking at (and some cases smelling) a POS. How many have run across errors in the data available through the courthouse, MLS, etc? Heck, even Google Earth has missed my house by about a half a mile. Good thing I know where I live and don't have to rely on Google Earth to find my way home each day.

Anyone who spouts on and on about how great technology is and that we don't even have to leave our homes is setting themselves up for replacement by that same technology. Technology is great, but it is a tool to be used by appraisers, not to replace them.
 
One of the biggest things that appraisers have going for them is their ability to see and smell and physically verify the information. It is hard to trick the eye when actually looking at (and some cases smelling) a POS. How many have run across errors in the data available through the courthouse, MLS, etc? Heck, even Google Earth has missed my house by about a half a mile. Good thing I know where I live and don't have to rely on Google Earth to find my way home each day.

Anyone who spouts on and on about how great technology is and that we don't even have to leave our homes is setting themselves up for replacement by that same technology. Technology is great, but it is a tool to be used by appraisers, not to replace them.

What good is the appraiser's ability when so many just kept hitting numbers?
 
WEB, DO NOT TRY TO SPREAD YOUR WINGS ON ME THEY WILL GET CLIPPED
THOSE WHO LIVE IN THE PAST WILL SOON BE PART OF IT , GUIDELINE OR RULE , it needs to be changed .
Who or what body decided and what year did this decision take place that the drive by of a property is the "best way " to determine its condition, times change and rules or guidelines need to change with them, access to information is much greater ,than just a drive by.
I follow the rules , but does that make them correct? The best way to determine value for our customers ? How many rules or laws or business practices have changed over the years due to technology? Again I say , live in the past and you will become part of it, our profession needs forward visionaries .

Oh my.

How long did you say you been checking boxes?
 
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