Are we considered an essential service?

[Meandering]

I'm not saying the MLS is the only source of market data. What I am saying is that the actual stats indicating to sales being closed is more directly relevant to your analysis of the value *as of today* than are the accounts of sales contracts dropping out or listing activity going into decline.

You don't know how to account for missing data?


One sale in 3 months, heck don't need no more "comps" than that. Market value, yup right there, somebody bought one, so that "open and competitive" market has been PROVEN.

yeah that's the ticket.


.

 

[George Hatch]

If you're saying there is NO WAY for me to analyze some of the 477 sales which closed in LA County in the last 5 days to see what the value trends did on those properties than had they sold 90 days ago - as a means for developing an adjustment I can apply to my less current direct comparables - then you're dead wrong. It just takes a little more time and effort than mindlessly lowballing the value conclusion on the basis of news accounts being written by non-appraisers.

I didn't actually care what these articles were saying during the boom, so I don't see any reason why I should be taking them any more seriously now. Not when I have more directly relevant raw data to analyze right at my desk.

 

[djd09]

 

[Meandering]

no worries they have 10 years of data from
cheap AMCs , ROV's, and bloated purchase prices,
hybrids,
evaluators,
bpos,
avms,
and
waivers.
all we are missing is
barney frank blathering 'all is well'.

What you're missing is that only high priced mortgages (think more expensive than the rest of the market mortgages) require appraisals by appraisers.

So the move to more appraiser written appraisals, instead of "evaluations" already carries a risk, because the borrower did not qualify for the "best" mortgage rates, a waiver, or even a "pilot" hybrid. And/OR the powers that be, want to diversify the risk of risky "evaluations" given to good borrowers, onto appraisers - so they don't have to answer for bad values, later in the year.

The "risk" is being pushed back to appraisers now, because, heck, they need the money - oh, if those that pay them will, in the 30-90 days when they expect that payment.

It was no secret in the ivory towers the virus was coming here, and magically, appraisers got busier.

 

[Meandering]

If you're saying there is NO WAY for me to analyze some of the 477 sales which closed in LA County in the last 5 days to see what the value trends did on those properties than had they sold 90 days ago - as a means for developing an adjustment I can apply to my less current direct comparables - then you're dead wrong. It just takes a little more time and effort than mindlessly lowballing the value conclusion on the basis of news accounts being written by non-appraisers.

I didn't actually care what these articles were saying during the boom, so I don't see any reason why I should be taking them any more seriously now. Not when I have more directly relevant raw data to analyze right at my desk.

I didn't say that.

You can call Bert and he can drop the data into his program for you.

Probably have the data analyzed before I can hit Post reply.


.

 

[George Hatch]

You don't know how to account for missing data?


One sale in 3 months, heck don't need no more "comps" than that. Market value, yup right there, somebody bought one, so that "open and competitive" market has been PROVEN.

yeah that's the ticket.


.

BTW, what's typical for any given market segment is strictly relational to what's happening in that market segment - not benchmarked to a fixed and immovable external measure.

 

[George Hatch]

I didn't say that.

You can call Bert and he can drop the data into his program for you.

Probably have the data analyzed before I can hit Post reply.
.

No; as usual, what you said was an outright strawman and mischaracterization of what I've been saying.

One sale in 3 months, heck don't need no more "comps" than that. Market value, yup right there, somebody bought one, so that "open and competitive" market has been PROVEN.​

​

yeah that's the ticket.​

​

To which I responded that I do have the means to identify what has been happening with any of the most recent data.

Lookit, if you're too paranoid to appraise in these conditions for fear of getting blamed for subsequent losses in the market then maybe it is a good idea for you to just sit it out.

 

[Meandering]

I missed the ethics class,

where it's okay to lie to people,

as long as you're being paid.

Darn. I'll have to take that class on line.

.

 

[George Hatch]

So you're now accusing me of lying in appraisal reports or advocating other appraisers to lie in appraisal reports? Why are you doing that?

 

[Meandering]

New Jersey Announces 90-Day Mortgage Payment Grace Period

Adjust those comps.