Why I Use MLS Photos

[Peter LeQuire]

NC, while an appraiser must keep a workfile, there is no requirement exactly what goes in the workfile, and there is no requirement that orig photos be in the workfile to prove the appraiser drove the comps.

So not keeping original photos in a workfile is not fraud either.

In the case above, it is about adjustments and without more detail it sounds as if the adjustments were misleading, and how it transpired that he did not drive the comps and got a wrong adjustment for stick built houses is not clear from the scant information.

I am much more concerned about misleading market conditions and wrong comp choice and wrong values when I review a report than if they used MLS photos or not. All an original photo shows is that (someone) drove the comp and took a photo...what if that someone was not the appraiser but their HS kid paid to take a picture? How are you going to prove THAT? Plenty of reports with original photos have values not credible and supported and cherry picked comps and all kinds of other problems...

Just wait till the Best Practices folks finish with us.

 

[Terrel L. Shields]

The state boards are there to investigate fraud and misleading reports and USPAP violations that affect value

I can't think of a recent sanction of anyone I know where "value" was ever the issue. Nor any claim of "fraud". No. Lemme see. One forumite was sanctioned for failing to state the client with specificity...i.e.- the MB's name was not enough. At the time the report was done, the MB ordered the report without knowing what lender would actually take it.

Another case involved how to go about a plans and specs... "unknown" complaintant. Overturned in court. Another lost his license mostly over having outdated neighborhood data, etc. in the report...again, overturned the revocation of a first time offender. That's what most complaints revolve around...piffle.

Whats the purpose of the cert page then?

If the client really trusted you then why not simply write down the address and the value? Trust me. No. The REPORT is evidence that you put some thought to coming up with a value and supported your conclusions. The certification is simply the way to hang you if that report proves to be bogus.

Digital cameras have a info line in the file. That is going to verify the date and camera used. Pretty good evidence it was yours...

 

[J Grant]

Providing original comp photos is an assignment condition, not a USPAP requirement.

Right, and many lenders do not have it in their assignment conditions. Some lenders state that MLS photos can be used and some lenders do put original photos in assignment condition.

Therefore, if another appraiser gets hold of a report where original photos WAS NOT an assignment condition, why the heck would that appraiser turn the OA in to the board? To question whether their certification was true, that they did what they said? (Drove the comps) As I stated in another post, this opens the door ( if the board takes it seriously, most likely they will disregard the complaint), if the board takes it seriously, this opens the door to anyone, including the HO, challenging an appraiser if they did what they said, and demanding "proof" of what they did, did an assistant take the photos, pull the research, etc.

And if you don't think this can have unanticpated results, think again. There is now spyware in computers for people who work in corporations to see if they are using email or websites on personal time and how much time they spend on each job. There are GPS tracking systems now installed in trucks and commercial vehicles to record mileage, how long a driver spent at each location, etc. The driver's personal word, aka a signed log is not good enough anymore.

If you want to degrade the appraisal profession to where an appraiser's signature is no longer enough to represent their word, you are opening the door to spyware installed on your computer at the client's request, GPS trackers in your car to track your mileage and where you went, and live video cams watching as you write a report to see what research you really did.

 

[Terrel L. Shields]

live video cams watching as you write a report to see what research you really did.

and that would be very nice to have in your work file. And as George would put it, since those GSE/FHA lenders who specify a photo taken by the appraiser as part of the scope of work, it is a violation of USPAP not to comply with those SOW requirements...what we used to call "supplemental standards"...

I guess my question really is why would you drive by a property and NOT take a picture??? Entirely different matter of whether or not you are required to have driven by your comp. There are lots of property that can be appraised with driving by the comp...mineral rights for instance...what's the point?

 

[NC Appraising]

The only purpose of using an original photo is to prove to someone you inspected the comp.

Whats the purpose of the cert page then?



95% of the time a MLS photo better represents the subject than my photos. A photo of a driveway going back into the trees shows what to the reader of the report? If i wanted to misrepresent a comps quality or condition what better way than to use a crappy original photo.

Please.

If the comp sale was put on the market say 8 months ago, and closed two weeks ago, and you took the photo a month later......m2:


Again, not pointing fingers, but we really know what this is about...it's about saving money and time.

Not driving by your sales:

20 appraisals a month, with a average time saved of 1-2 hours a report.....

 

[TC]

I was doing a defualt appraisal the other day and here comes the owner with his smart phone and he started taking pics of me and my license plate, so I started taking pics of him...

We were taking photos of one another for about a minute. He was screaming "private property" I was screaming "public street".

I then sped away continuing to take photos. Leason learned. No more default appraisals on the weekend.

You gotta stop cutting the Xanax in half, take the whole pill.

 

[TC]

If you want to degrade the appraisal profession to where an appraiser's signature is no longer enough to represent their word, you are opening the door to spyware installed on your computer at the client's request, GPS trackers in your car to track your mileage and where you went, and live video cams watching as you write a report to see what research you really did.

Agree with that. Interior photos of everything, I was in this biz when all that was required was a front and street. Lenders trusted us to report honestly, guess those days are gone.

 

[NC Appraising]

You gotta stop cutting the Xanax in half, take the whole pill.

cANNOT afford a whole Xanax. It's hard competing with appraisers who are working for 175 and are cutting corners. :blush:

 

[residentialguy]

Please.

If the comp sale was put on the market say 8 months ago, and closed two weeks ago, and you took the photo a month later......m2:


Again, not pointing fingers, but we really know what this is about...it's about saving money and time.

Not driving by your sales:

20 appraisals a month, with a average time saved of 1-2 hours a report.....

NC,

I inspect the comps and take photos. But saying that an appraiser has to use an original photo to prove that you are not lying is wrong, imo. Yes, some are doing that and producing bad appraisals. I would argue that making everyone put in a photo won't make that appraisal good. That is same same type of band-aid the HVCC had. There were some bad appraisals because of MB relations, so now everyone can't have a MB relationship. The bad appraisers are still out there and the good appraisers have more crap to put up with, instead of producing good appraisals. How about punishing the appraisers with bad appraisals! All these laws, rules, forms, are just BS. Stop punishing the good appraisers to try to fight the bad ones. If an appraiser is bad, fine them, pull their license and if necessary, and if bad enough, throw them in jail for malpractice.

 

[NC Appraising]

Agree with that. Interior photos of everything, I was in this biz when all that was required was a front and street. Lenders trusted us to report honestly, guess those days are gone.

Agree, the churn and burn, corner cutting appraisers ruined that.

This is why some lenders are requiring aerial photos, MLS sheets of the comps, MLS CMA printouts, etc., and now the UAD because of corner cutting appraisers.



When will we wake up and realize they want quality reports with no corner cutting? You are getting paid to do a job, so do it. What is so hard to understand about that?