Freddie: MLS Photo

[Deleted member 128537]

Why not photograph it the first time? Sooner or later the traffic clears...

Shoot on Monday then.

True, except Sunday ideal for commercial /industrial pix.

1. Didn't need it as a comp before.
2. So I'm suppose to conform my schedule to take one picture? Forget it. Better things to do.
3. I have better things to do on Sunday.

 

[Terrel L. Shields]

2. So I'm suppose to conform my schedule to take one picture?

You don't do much rural property I take it. Again, how do you certify you inspected from the road, unless you are ripping by at 55 mph, yet don't have time to slow, look the comp over, and take a pix?

Ever use a non-MLS sale? Where'd you source that picture?

 

[Deleted member 128537]

You don't do much rural property I take it. Again, how do you certify you inspected from the road, unless you are ripping by at 55 mph, yet don't have time to slow, look the comp over, and take a pix?

Ever use a non-MLS sale? Where'd you source that picture?

You don't do much rural property I take it. Again, how do you certify you inspected from the road, unless you are ripping by at 55 mph, yet don't have time to slow, look the comp over, and take a pix?

Ever use a non-MLS sale? Where'd you source that picture?

1. You think all rural areas are 55mph? I've appraised rural all my career. You have no idea of what my county is like. In the summer the traffic is so bad it's dangerous to stop on the highway. We get 2 million tourists a year. And in some locations there's no place to stop.
2. Seldom do I use a non-MLS sale. Can't verify the data in most cases. Our assessor records are terrible. And if I do it's because I've either done it myself, or I know of an appraiser that's done it and can verify data. He can give me the picture. We have 3 full time appraisers in this county. So chances are pretty good if it was a loan I either did it or one of the others have done it. If it's a cash sale most likely never hear about it.

And what the heck is the point of this conversation really?

 

[Terrel L. Shields]

We get 2 million tourists a year

cheese tourists?

hat the heck is the point of this conversation

It was the purpose of secondary market participants for appraisers to view AND photograph comps. Right? Yet two-thirds of appraisers here apparently think this a waste of time, too much trouble, too dangerous, too far to drive...etc. So once we avoid this step by wordsmithing it away, it makes an increasingly abundant case that since appraisers are doing what is essentially only a desktop appraisal with inspection, then why are they paying us the big bucks? Regardless most of the work lies elsewhere, that talking point indicts our modis operandi. Clients aren't stupid and many draw the obvious conclusion that many are lying about driving by. I am not saying you are, but there are a lot of houses I've "driven by hundreds of times" but that doesn't mean I paid attention to them. Further in my career I've driven to many comps and discovered a dozer and pile of lumber. Or a large building on site not mentioned. Or a water tower, cell tower, etc. not otherwise noticed, even when I've driven that road numerous times.
We can't prove we were ever there without original pix, and my photos are photo dated. It is easy to use any number of photo technique, video or continuous mode, and a rubber suction cup to do an original photo safely. Then we don't have to substitute the pix, disclose our shortcut, and by doing so alert the client that perhaps we're really doing it to save drive time- something appraisers don't admit.... So why should they pay us for not doing what we agreed to do?

 

[Deleted member 128537]

cheese tourists?

It was the purpose of secondary market participants for appraisers to view AND photograph comps. Right? Yet two-thirds of appraisers here apparently think this a waste of time, too much trouble, too dangerous, too far to drive...etc. So once we avoid this step by wordsmithing it away, it makes an increasingly abundant case that since appraisers are doing what is essentially only a desktop appraisal with inspection, then why are they paying us the big bucks? Regardless most of the work lies elsewhere, that talking point indicts our modis operandi. Clients aren't stupid and many draw the obvious conclusion that many are lying about driving by. I am not saying you are, but there are a lot of houses I've "driven by hundreds of times" but that doesn't mean I paid attention to them. Further in my career I've driven to many comps and discovered a dozer and pile of lumber. Or a large building on site not mentioned. Or a water tower, cell tower, etc. not otherwise noticed, even when I've driven that road numerous times.
We can't prove we were ever there without original pix, and my photos are photo dated. It is easy to use any number of photo technique, video or continuous mode, and a rubber suction cup to do an original photo safely. Then we don't have to substitute the pix, disclose our shortcut, and by doing so alert the client that perhaps we're really doing it to save drive time- something appraisers don't admit.... So why should they pay us for not doing what we agreed to do?

Same old same old.
1). So you drive by the place and there is a dozer and pile of lumber? You assume it was there at point of sale? Really? Unless it maybe sold with the place. I've driven by and took photos of lots of places that have changed since they bought; new siding, new roof, new garage, etc. Guess what. I use MLS photo. Best represents property at point of sale.

2). If I drove by the sale yesterday and looked at it when it had a sold sign on it, and didn't take a picture and then use the MLS photo because I'm using it as a comp, what's the big deal. If it's OK with my client then so what. I just drove by a property today on way to hardware store. Sold sign. Looked down the drive way. Couldn't see anything. Guess what. That will have an MLS photo.

3). Yes we've all heard the argument that how else can we prove that we were there as if that provides unequivocal proof. It doesn't.

And yes saving time does become a factor. When I have 20 reports sitting on my desk and people are needing appraisals to close on loans and then I take one hour to go drive by a house to take an original photo EVEN though I have looked at that home before and KNOW I can't get a photo of it because it has a long drive way and can't see it that is JUST PLAIN not a good use of time or efficiency.

 

[Non Sequitur]

It was the purpose of secondary market participants for appraisers to view AND photograph comps. Right? Yet two-thirds of appraisers here apparently think this a waste of time, too much trouble, too dangerous, too far to drive...etc. So once we avoid this step by wordsmithing it away, it makes an increasingly abundant case that since appraisers are doing what is essentially only a desktop appraisal with inspection, then why are they paying us the big bucks?

And that's where we are, clients are listening and they aren't as stupid as some appraisers think they are.

 

[Deleted member 128537]

And that's where we are, clients are listening and they aren't as stupid as some appraisers think they are.

The price of an appraisal is more determined by the supply and demand for appraisers than by whether we take original photos or use MLS photos. I do lots of private work. I get paid more from private work than lender work, and no one cares about the photos.

And by the way, if on a time sensitive appraisal the lender has a choice, 1) Get the appraisal in 2 days earlier 2) Wait 2 days before I can take an original photo of the comparable #4...which one do you think they will choose?

Actually had this happen:
Lender A wanted all seasonal photos on scope of work. I told Lender A, not going to happen. Lender A reduces scope of work and say it's OK to use old photos.

 

[Terrel L. Shields]

I'm just saying...

 

[DTB]

Folks, we are paid for our professional opinion of value. Not photos, not sketches, not bracketing etc.

 

[Terrel L. Shields]

we are paid for our professional opinion of value.

Also paid to do what we say we agreed to do. Try just writing a value down on a postcard and submitting it.