Appropriate data q's

[nitsuattam]

Would it be normal to utilize the MLS data for the lot size and square footage size? Or to utilize the Assessor data?

I'm looking over a report from another appraiser and seeing that he used the MLS data and derived a price per square foot of the building, and by utilizing the data from the assessor page it changes the value/ square foot significantly.

Looking over the MLS sheets most say buyer to verify all information, which would be more accurate short of going to each historical sale and measuring out the square feet?, I utilized Google Earth Pro and it seems that the assessor data on at least two of them for a simple shape seems closest. What would be a way to verify which is more true?

 

[Jo Ann Meyer Stratton]

I always use the dimensions from the recorded subdivision plat or the recorded legal description if a metes and bounds. The recorded data is the correct information and is what is used in legal documents, like deeds, mortgages, etc. Assessor's records are for assessment and payment of taxes and can only report possible information and not usable for legal actions. MLS are wild guesses from the agents who may or may not have searched for the correct information. I also always sketch the legal description (whether a recorded subdivision plat or legal description) in the survey module of Apex, takes about five seconds. Locally the assessor's maps have wrong dimensions or none at all and the site areas are not correct. Every state west of the Miss. River except Texas uses the Section, Township and Range system developed by Thomas Jefferson in 1804.

 

[nitsuattam]

So how would one go about confirming the square footage of the building? What is the Apex software

 

[nitsuattam]

sorry hit post reply with my trackpad, is apex this, http://www.apexwin.com/us/index.php/software/appraiser-products/apex-sketch-v5-standard. So if an appraiser were utilizing MLS information it would be inaccurate because it may be inflated by the selling agent, and the Assessor is potentially equally inaccurate?
I have an appraisal that utilized the MLS data and when comparing that with the Assessor data, and I'm finding that the MLS data is typically a lot higher, in one instance the MLS data showed the building square footage as 2450, and the assessor only 1709, and 2514/2400 , 1768/1612 , 1560/1056 , 1562/1562 , 2160/2160
Being that there was a historical appraisal performed with prices per square foot the disparity in values seems a potential issue. (some of the MLS properties include garages and carports in the square footage)

Each of those properties were compared against a target property, and the target properties data was pulled from the Assessor data.

 

[Terrel L. Shields]

There is no guarantee that either one is correct. Most Realtors either use the assessor measurements or they may lump finished basement or attic into the GLA (gross living area) check and see if the appraiser differentiated and ask for an explanation from the lender or appraiser (go thru the lender if you are not a lender)

Lazy appraisers only look at the MLS and some MLS do have Realist which may have the assessor data summarized in that page of the listing.

 

[nitsuattam]

There is no guarantee that either one is correct. Most Realtors either use the assessor measurements or they may lump finished basement or attic into the GLA (gross living area) check and see if the appraiser differentiated and ask for an explanation from the lender or appraiser (go thru the lender if you are not a lender)

Lazy appraisers only look at the MLS and some MLS do have Realist which may have the assessor data summarized in that page of the listing.

Its from an appraisal that was commissioned by the city of tacoma to charge me for a road. When using the MLS data the value range was $79- $112/ square foot, which is what the appraiser did, and by utilizing the assessor data the price per square foot is $84-$165/sq foot, either way it seems as if there may be an issue of inbreeding of the data. I am going to measure all of the properties to determine which is closer and likely more accurate.

 

[nitsuattam]

So I visited each of the properties and measured the buildings and the assessor data seems pretty close to spot on. I cross referenced the measurements with google earth, and screencapped each of the measurements. If an appraisers calculations only work one way could that infer that they may have backed into the value? Or is there another valid explanation. If anyone has any information or ideas on this, I want to understand this and not jump to a conclusion. I am perfectly content in analyzing this in a objective way. Please if you have any input please PM me.

another thing,

Upon analyzing the appraisers qualitative adjustment grid I noticed that there were inaccuracies in the way that the qualitative adjustments were performed. Specifically lots with the same sizes were given different delineators, two lots that were 6000 square feet, one was indicated that the comparison target property was superior, and another it was indicated as similar. Two other lots, one at 6500, and another 5500, the 6500 was indicated that the target property was superior, and the 5500 was indicated as similar. The comparison property had a lot size of 9147.