Why I Use MLS Photos

[residentialguy]

Using a MLS photo does not cause it to be a bad appraisal.

As someone who has been doing this for 27 years and reviewing appraisals since the MLS started making pictures available I can say 90% of the time it most certainly does.

Impossible. Only an appraiser can make an appraisal bad. Using a MLS photo does not make the appraisal bad (unless it is the wrong house).

Focus on ridding the industry of the bad appraiser, not the MLS photo use.

 

[Peter LeQuire]

EASY!!!! From the horses mouth. https://www.efanniemae.com/sf/formsdocs/forms/1004.jsp Thought you had me

Clear, descriptive photographs (either in black and white or color) that show the front of each comparable sale and that are appropriately identified. Generally, photographs should be originals that are produced by photography or electronic imaging; however, copies of photographs from a multiple listing service or from the appraiser's files are acceptable if they are clear and descriptive;



I stayed up all night reading and rereading this, but I still can't see that this does anything to modify the scope of work. I am, however, educable and await, with bated (not baited) breath, correction. Not being argumentative, but if there is an exception to the scope of work, I'd be happy to know what it is so that I can plead it, as necessary.

No, The scope of work doesn't preclude the use of MLS or other photographs not taken by the appraiser, it simply says, "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...." The use of MLS or other photos is permitted: inspecting the comps is mandatory.

It's early yet, but what the hey.........:new_all_coholic:

 

[Delta85]

"Resourceful" was the key word in my statement.

I know between 30-40 realtors personally in the area and at least one or two do business in every gated neighborhood I appraise so gate codes are never a problem to get.

These same realtors either are or are good friends with an HOA board member in all the gated communities with security guards, so they will give Barney Fife a heads up to let Mr. Appraiserman in the gate.

Network with the dreaded realtors and use them to your advantage.

If you have those "resources" good for you. Those that do not are not lazy or whatever term you used a few posts ago.

In my area, this is just not the case most of the time. Realtors are not interested in handing out codes for appraisers working on unrelated projects. They barely return calls to confirm comp data, let alone arranging with security and/or HOA for the entry into the property of an appraiser working on an unrelated project. This is not just my experience but the majority of other appraisers in my area when the subject has been discussed.

Is it impossible? Ofcourse not. I DO network among realtors and can count several as friends but asking them for access to gates is just not something they like doing or is asked of them. Especially when the report you are working on has nothing to do with them, their listing, or their clients.

In any case, many gated communities use stationed guards and not codes either during the day or both day and night. Especially in upscale neighborhoods particularly in Fairfield county. The guards are often very strict and require a sticker on a car indicating residence or that you are an invited guest (which can be verified) immediately.

 

[JTip]

If I may ask, what do CG's do in this situation?

You appraise a 20 story building, sales stretch between three states. Do you visually inspect all the comparables? Every chicken farm, every golf course comparable.....

 

[Pittsburgh Pete]

If I may ask, what do CG's do in this situation?

You appraise a 20 story building, sales stretch between three states. Do you visually inspect all the comparables? Every chicken farm, every golf course comparable.....

Have never spanned multiple states for comparable sales but have photographed comparables spanning the Western part of the State over 4 or 5 counites. Would definitely view all golf courses I might use in a report. Viewing them gives one additional insights into differences impacting value--might also feel compelled to play all of them to get greater insight!

 

[residentialguy]

Have never spanned multiple states for comparable sales but have photographed comparables spanning the Western part of the State over 4 or 5 counites. Would definitely view all golf courses I might use in a report. Viewing them gives one additional insights into differences impacting value--might also feel compelled to play all of them to get greater insight!

I would think that you'd want to play on each of the golf courses to gain even greater insight. "Honey, where are my clubs...gotta go to work" :icon_mrgreen:

 

[Smokey Bear]

As someone who has been doing this for 27 years and reviewing appraisals since the MLS started making pictures available I can say 90% of the time it most certainly does.

And which reports do they usually send for review? Random, or ones they're concerned about? Maybe your pool of reviews is already laden with bad appraisals.

 

[NorthTexValuation]

In any case, many gated communities use stationed guards and not codes either during the day or both day and night. Especially in upscale neighborhoods particularly in Fairfield county. The guards are often very strict and require a sticker on a car indicating residence or that you are an invited guest (which can be verified) immediately.

OK.

Then you or any other appraisers with this access problem cannot adher to the Statement of Work and use comparables from within those communities and the assignment should be declined or other comparables used.

As Pete noted above:

The scope of work doesn't preclude the use of MLS or other photographs not taken by the appraiser, it simply says, "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...."The use of MLS or other photos is permitted: inspecting the comps is mandatory.

 

[NC Appraising]

EASY!!!! From the horses mouth. https://www.efanniemae.com/sf/formsdocs/forms/1004.jsp Thought you had me

Clear, descriptive photographs (either in black and white or color) that show the front of each comparable sale and that are appropriately identified. Generally, photographs should be originals that are produced by photography or electronic imaging; however, copies of photographs from a multiple listing service or from the appraiser's files are acceptable if they are clear and descriptive;



I stayed up all night reading and rereading this, but I still can't see that this does anything to modify the scope of work. I am, however, educable and await, with bated (not baited) breath, correction. Not being argumentative, but if there is an exception to the scope of work, I'd be happy to know what it is so that I can plead it, as necessary.

No, The scope of work doesn't preclude the use of MLS or other photographs not taken by the appraiser, it simply says, "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...." The use of MLS or other photos is permitted: inspecting the comps is mandatory.

It's early yet, but what the hey.........:new_all_coholic:

I'm having fun!! I do not take anything personal!!


In my opine, appraisers want everything spelled out, spoon feed, given to them in slow, easy words.....if not, they they pull a George from Seinfield "if you belive it, then it is true" or they read it how they want to read, so it becomes OK.

Come on, this is the government or a GSE!!



In my opine, it is common sense. If an appraiser cannot see the property or if it is a gated community..... do they really need to say anything else besides what I posted in my previous post...MLS photos are OK?


pEACE. Pete can grammar and spell check, I'm crazy biz today.

 

[Delta85]

OK.

Then you or any other appraisers with this access problem cannot adher to the Statement of Work and use comparables from within those communities and the assignment should be declined or other comparables used.

As Pete noted above:

The scope of work doesn't preclude the use of MLS or other photographs not taken by the appraiser, it simply says, "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...."The use of MLS or other photos is permitted: inspecting the comps is mandatory.

Then that means NO property in a gated community can be appraised.

That's ridiculous. Scope of work, if necessary, can be altered as long as you explain in detail what you attempted and what you could/could not do. It's done all the time and readily accepted by lenders every day nor is it a violation of USPAP. It is not misleading in any way if you have explained in detail the circumstances.

I detailed in another thread certain areas in CT. where the vast majority of homes are hidden up long, private, wooded driveways. Using your logic not only should I turn these jobs down but theoretically they CAN NOT be appraised by anyone unless each and every comp is personally inspected. Good luck contacting those owners, making those arrangements, and getting permission for each and every comp.