Across The Board Time Adjustments?

[residentialguy]

This is one of the reasons I have never been a fan of the MC form, this form calls me out when I'm wrong

Fixed it for you

ou see increases in property because people actually have money in a hot market.. if the market is hot they will spend THEIR money when it comes down to it .

Are you seriously trying to suggest that people who finance the property don't pay for it with their money???? I have financed 4 houses in my life so far and not only did I pay for them, I paid way more than the contract price after finance.

 

[DARREN GODFREY]

We Certify that we opine "Market Value" in our appraisals for sales and refis. So, what does it mean by "as of a specific date" in the definition of Market Value? Is that the date prior or equal to the comps, or the effective date of the appraisal, which is typically the inspection date of the subject after the comps have closed?

Look this every increasing market trend of 5,8,10% year over year is something new. Historically real estate gains were at a much lower pace...then we had a boom where appraisers and everyone else got into forecasting ...and guess what ...it crashed . So take all that crap and keep it to yourself . The other thing that we choose to ignore is the cost approach and income approach, because guess what ...it won't support your ever artificially increasing sales approach.
Take a step back and look at what we are actually doing and it makes no sense to perpetuate something as ever increasing without any real reason.

Check List
1)Competition for the property?
2) Can I rent a property for less?
3)Did the cost to buy the land and build the property go up?

These are all 3 approaches in different language.

This post has me thinking that we will be replaced with robotics that have no need for hitting numbers...soon.

What do you think is going to happen to OUR industry if another crash takes place kids?

 

[residentialguy]

Look this every increasing market trend of 5,8,10% year over year is something new. Historically real estate gains were at a much lower pace...then we had a boom where appraisers and everyone else got into forecasting ...and guess what ...it crashed

And???? so what. We are not the keep market stable police. Why can't you get that through your head?????

 

[residentialguy]

The other thing that we choose to ignore is the cost approach and income approach, because guess what ...it won't support your ever artificially increasing sales approach.

Then you're doing it incorrectly.

 

[residentialguy]

What do you think is going to happen to OUR industry if another crash takes place kids?

Same thing we did since the last one, son. We appraise "Market Value". None of that changes anything until our orders change.

 

[DARREN GODFREY]

We Certify that we opine "Market Value" in our appraisals for sales and refis. So, what does it mean by "as of a specific date" in the definition of Market Value? Is that the date prior or equal to the comps, or the effective date of the appraisal, which is typically the inspection date of the subject after the comps have closed?

Look this every increasing market trend of 5,8,10% year over year is something new. Historically real estate gains were at a much lower pace...then we had a boom where appraisers and everyone else got into forecasting ...and guess what ...it crashed . So take all that crap and keep it to yourself . The other thing that we choose to ignore is the cost approach and income approach, because guess what ...it won't support your ever artificially increasing sales approach.
Take a step back and look at what we are actually doing and it makes no sense to perpetuate something as ever increasing without any real reason.

Check List
1)Competition for the property?
2) Can I rent a property for less?
3)Did the cost to buy the land and build the property go up?

These are all 3 approaches in different language.

This post has me thinking that we will be replaced with robotics that have no need for hitting numbers...soon.

What do you think is going to happen to OUR industry if another crash takes place kids?

Then you're doing it incorrectly.

Yeah, but what I am not doing is speculating that values automatically increase because of skewed data on a MC form.

 

[DARREN GODFREY]

Same thing we did since the last one, son.

Ok, everything but our job...Dude, we are the market police...do you need a memo....WOW!
Why were appraisers invented...maybe you should google it . It was to prevent crashes from happening... Meaning we look at historical data and are bound by it.

 

[residentialguy]

Yeah, but what I am not doing is speculating that values automatically increase because of skewed data on a MC form.

I never suggested to speculate, nor to base anything on "skewed data".

 

[residentialguy]

Ok, everything but our job...Dude, we are the market police...do you need a memo....WOW!
Why were appraisers invented...maybe you should google it . It was to prevent crashes from happening... Meaning we look at historical data and are bound by it.

Please, post that link from any credible appraisal methodology. And I'll post my links supporting me. Let's make it fun. How about making a $100 a link bet?

 

[DARREN GODFREY]

Same thing we did since the last one, son. We appraise "Market Value". None of that changes anything until our orders change.

I never suggested to speculate, nor to base anything on "skewed data".

You just did...your justification was based on this appraiser going with a market trend that said the value was increasing . I told you his data was flawed. Do you guys even understand that historically listing were not even considered in an appraisal at all...it was soley based on closed sales. The listing part of the appraisal we write today was inspired by the crash. So people were actually not increasing their listing prices ...so you as an appraiser could not go back further in time to "good days" now I am looking at an appraisal that is speculating towards a future value and you guys are calling me "Real Estate Police" lmao!
Amazing!