I Know We Do Not Find Problems With Value But

[ucbruin]

I have n


I have no idea what you are advocating other than an your opinion about my supposed superiority complex ! Wish I had one in real life...we all are free to form opinions about each other on a bb...

That's it in a nutshell....

 

[bnmappraisal]

That’s why it went to review. What some Appraisers still don’t get is that lenders don’t need MLS to see a comps interior. Internet sites such as Zillow, Truilla, Redfin etc now days display interiors and the MLS info. Very little can be hidden and trying to fudge condition adjustments to hit a value is just stupid

Very true. I had an underwriter (direct lender client) call me last week asking about an adjustment I had. She had seen the pics of one of my comps online (non MLS - but didn't say which of those sites)

So yea, they're checking...at least some of them are!

 

[Evincere]

So yea, they're checking...at least some of them are!

It’s perilous and reckless practice to presume they are not checking.

 

[Renee Healion]

I just wish they too had interviewed someone, or been in the place, or thought how it does not have a garage, like the others, and a buyer would have to try for a variance to put one in and what kind of an ordeal it is to get one there. But granite and a couple SS appliances show in a photo, so the deskbound viewer is the authority. And then maybe they send your work out for a "review" to the low-bidder for another round.

 

[Joseph Butkus]

The main point about the appraisal I reviewed was appraiser passed up using comparables in neighborhood and reach into gated community for comp 3 passing two fantastic comps up. Value was secondary , but of course due to 3rd comps location bought value up. Yes in NJ we would call each other and say WTF are you thinking? We all used to take classes together 25 plus yrs ago when we waited for pics to come out of 24 hour photo to glue to report.

 

[Joseph Butkus]

You need to ask yourself; how good are u? If your value and the value of the appraisers vary by more than 10% of the value; then make your case. If it's less than 10%, then get over yourself because no one is that good.

Amy have you learned to read get over myself. You just hear to judge or read.

 

[Terrel L. Shields]

This is ridiculous

Gotta go with @Amy Perkins here. Few complex homes can be tighter comps than 10%. Only in cookiecutterville. So are we reviewing for USPAP violations or second-guessing the opinion of someone?

 

[Joseph Butkus]

Are you saying that years ago if you had a review and the appraisal under review was bad, you did not address the issues in your review, instead you would call the appraiser and tell them to get it together? What did you do in the review ? Review assignments when they send the OA , the name of is typically blacked out, how did you even know who the appraiser was?

The reviewer should be neutral to who the appraiser might be and just do the review, step by step - which you did and sounds like you did a good job identifying the problem issues.

Yes we would call each other in NJ, Name Not blacked out years ago and even the one I reviewed found name of Appraiser in report. Nicer then no one would go to State and put complaints in just so you could try to get more work.

 

[Joseph Butkus]

Gotta go with @Amy Perkins here. Few complex homes can be tighter comps than 10%. Only in cookiecutterville. So are we reviewing for USPAP violations or second-guessing the opinion of someone?

2 comparables in neighborhood appraiser did not use, Mislead due to using 3rd comp in gated neighborhood and used MLS pic and probably did not know was in gated community with HOA.

 

[Terrel L. Shields]

2 comparables in neighborhood appraiser did not use, Mislead due to using 3rd comp in gated neighborhood and used MLS pic and probably did not know was in gated community with HOA.

Did you vet these two sales close enough to determine they are arm's length and the best?
What specifics are to be zinged?
This third Comp, if it was higher was it higher than the (apparent) two comps used? Which of the four would you use? (you are implying 2 were used, 2 were not so he/she could jack up the average?) Which house (in age, SF) was the most similar, the most recent sale. Did it violate SOW to use MLS photos?