Appraising in Texas

[Alsie35]

As some of you know, we recently relocated and are now gainfully employed (and loving every minute of it) down here in South Texas. (Doing one inspection tomorrow, then spending the rest of the day at Sea World - which is 5 min. from the house. )
Next Sunday - San Antonio Zoo. The weekend after that - Wurstfest in New Braunfels.

But back to the topic of the thread - just intended it to post random thoughts and observations as we go along here. So here are a couple of provisions that are new to me, but are standard fare around here. They are self-explanatory - any of the local seasoned Texas appraisers are invited to chime in with any suggestions.

First one goes under the Analysis of Sales History Section:

"TEXAS IS A NON-DISCLOSURE STATE. PRIOR SALES WERE RESEARCHED BY APPRAISER, BUT MAY NOT HAVE BEEN OBTAINABLE THROUGH THE NORMAL COURSE OF BUSINESS."

This is a good 'catch-all' to add after your analysis of any prior sales that you DID manage to find (prior sale prices are "discoverable" through the local MLS system IF there was an MLS listing. County records may get you a prior deed recording date but no sale price will be listed).

The second one concerns Zoning - or lack thereof. I crafted this paragraph after reviewing the appraisal on my own home and a revision request on one of my own appraisals regarding deed restrictions language that a client wanted. I think this pretty much covers the issue. Bexar County unincorporated areas have NO zoning. Much of the residential growth is just outside city limits (like the home we bought). Property Taxes are lower there.

"Zoning Description
NO ZONING - SUBJECT IS LOCATED OUTSIDE CITY LIMITS IN UNINCORPORATED BEXAR COUNTY. THIS ZONING IS TYPICAL AND COMPARABLE SALES HAVE SIMILAR ZONING AS THE SUBJECT. APPRAISER IS NOT AWARE OF ANY DEED RESTRICTIONS AS THE PRELIMINARY TITLE REPORT WAS NOT REVIEWED. IF FOUND AT A LATER DATE THAT ANY EXIST THE APPRAISER RESERVES THE RIGHT TO AMEND THE FINDINGS OF THE REPORT."

Again, informed comments are welcome. I'm trying to learn.

 

[Mejappz]

I don’t have a clue about appraising in Texas, but I wish you the best of luck.

 

[Mike Ault]

Here is some of my typical blather regarding transfer histories –

Texas is a non-disclosure state where the sale prices and terms for transfers are not disclosed and/or verifiable for many transactions, the accuracy of the above data is affected by these limitations. UAD requirements for the above date fields do not allow non-numeric input in the price field. Sales history was researched for the prior three years for the subject and prior 12 months for the comparable sales. Public records indicate the subject's most recent transfer occurred on 1/11/2021 (warranty deed - doc #535 recorded on 1/12/2021). This transfer was as a vacant, unimproved site and transaction was not represented in the MLS. None of the comparables employed in this report.transferred additional times within the preceding 12 months.

Regarding the no zoning issue I found it less stip generating to indicate that as "Suburban Deed Restricted" along with the description. When "No Zoning" is indicated some clients will follow up with a "rebuild determination request" and good luck documenting that. Deed restricted subdivisions are typical for my market (to keep the manufactured homes out). I rarely see a survey, much less a title report.

"The utilities were on and working at time of appraisal. The subject well appears operable but appraiser has no knowledge of overall condition, there was no seepage noted from the private septic system at time of inspection. There is no availability for hookup to public water and sewer systems for the property within any economically feasible distance, private well & septic systems are common and marketable in the local area."

Welcome to Texas by the way!

 

[Tim Hicks (Texas)]

No zoning, private septic and private well: The subject is located outside the city limits with no zoning and no access to city sewers or city water requiring the use of a private septic system and a private well. This is typical for the area and does not effect marketability. The subject and sales x,y,z all have similar no zoning, private septic and a private well or community water supply.

MLS research reveals no prior sale of the comparable sales in the year prior to their current sale dates, but tax records indicate a deed transaction for an undisclosed amount for sale #2 on XX/XX/XXXX.

 

[Alsie35]

Here is some of my typical blather regarding transfer histories –

Texas is a non-disclosure state where the sale prices and terms for transfers are not disclosed and/or verifiable for many transactions, the accuracy of the above data is affected by these limitations. UAD requirements for the above date fields do not allow non-numeric input in the price field. Sales history was researched for the prior three years for the subject and prior 12 months for the comparable sales. Public records indicate the subject's most recent transfer occurred on 1/11/2021 (warranty deed - doc #535 recorded on 1/12/2021). This transfer was as a vacant, unimproved site and transaction was not represented in the MLS. None of the comparables employed in this report.transferred additional times within the preceding 12 months.

Regarding the no zoning issue I found it less stip generating to indicate that as "Suburban Deed Restricted" along with the description. When "No Zoning" is indicated some clients will follow up with a "rebuild determination request" and good luck documenting that. Deed restricted subdivisions are typical for my market (to keep the manufactured homes out). I rarely see a survey, much less a title report.

"The utilities were on and working at time of appraisal. The subject well appears operable but appraiser has no knowledge of overall condition, there was no seepage noted from the private septic system at time of inspection. There is no availability for hookup to public water and sewer systems for the property within any economically feasible distance, private well & septic systems are common and marketable in the local area."

Welcome to Texas by the way!

Thank you!!!

 

[Tim Hicks (Texas)]

Also, we don't have underwriters asking for pictures of CO2 detectors, smoke detectors or water heater straps. Californy underwriters seem to think it is required across the nation. CO2 detectors are not mandated by law in Texas. I think they are trying to mandate them, but there would a whole lot of grandfathering on that.

 

[Alsie35]

Also, we don't have underwriters asking for pictures of CO2 detectors, smoke detectors or water heater straps. Californy underwriters seem to think it is required across the nation. CO2 detectors are not mandated by law in Texas. I think they are trying to mandate them, but there would a whole lot of grandfathering on that.

Thank you Tim. I have been taking photos of Smoke/CO detectors anyway, just in case. And eventually I will stop "wincing instinctively" when I see a hot water heater without straps. (I've got 2 of 'em in my garage and don't even notice them anymore).

 

[glenn walker]

You guys better enjoy it while you can Austin and other cities people are starting to look and act more like San Fransisco and Bay area Liberals : ) LMAO

 

[Mike Ault]

You guys better enjoy it while you can Austin and other cities people are starting to look and act more like San Fransisco and Bay area Liberals : ) LMAO

Yes, just a couple more election cycles & we won't have national embarrassments like Gov. Greg Abbott and Lieut. Gov. Dan Patrick in office. Unless the Republicans are successful in their voter suppression efforts.

 

[Tim Hicks (Texas)]

Mike just went on the Republic of Texas expulsion list. LOL