Stable Market

[DWiley]

I never felt comfortable adjusting for time because it always felt artificial,

If the data shows that prices are clearly increasing or decreasing, then what is artificial about adjusting for that? How is it different from any other adjustment that one derives from data?

 

[TerryRohrer]

I never felt comfortable adjusting for time because it always felt artificial, especially in the gung-ho days. I used the core rate quoted by the Fed, which is about as close as you can get, and since M2 affects us all, I thought it was ok for comparative analysis.

Non-responsive. So when the CPI was claimed to be about 7% during 2021 and I was measuring price increases of 2% per month, I should have been adjusting at 7% per month? I would have mailed my license in after the first time!

 

[NC Appraising]

I would say a 3% increase range is stable. Obviously stable doesn’t mean zero otherwise that term wouldn’t even exist. By that definition a .01% increase would be increasing. There’s some judgment call to this work that we do. A lot of judgment calls if we’re being honest.

Just finished up a 1.8 mill home and applied a 3% adjustment. 54k adjustment.

Even on a 300k home that is 9k. Could make or break the deal.

Zillow or avms do not have any issues applying time adjustments at any %. We shouldn't either. Makes us look bad.

 

[Dublin ohio]

Since the form were addressing asks if property "values" have increased over the period

I can ascertain if property prices have gone up, but as far as "values" going up, that is a horse of a different color

 

[Dublin ohio]

Just finished up a 1.8 mill home and applied a 3% adjustment. 54k adjustment.

Even on a 300k home that is 9k. Could make or break the deal.

Zillow or avms do not gave any issues applying time adjustments at any %. We shouldn't either. Makes us look bad.

I can see 3% on a sale with an 11 or 12 month old sale date. But what do you do with that 3 month old sale?

 

[Terrel L. Shields]

then the values still increased, no?

No. prices increased but the value is the same. The buying power is the same. no?

 

[NC Appraising]

I can see 3% on a sale with an 11 or 12 month old sale date. But what do you do with that 3 month old sale?

I still applied a time adjustment to the comp that had a contract date of 04/25.

I admit, from the winter market to the spring market that 0-90 day time adjustment is vital. So hard to support the adjustment. But when I look back six months later it is as clear as day....seasonal market trends.

 

[DWiley]

No. prices increased but the value is the same. The buying power is the same. no?

Is value not defined as the most probable price?

 

[Dublin ohio]

I still applied a time adjustment to the comp that had a contract date of 04/25.

I admit, from the winter market to the spring market that 0-90 day time adjustment is vital. So hard to support the adjustment. But when I look back six months later it is as clear as day....seasonal market trends.

Seasonal adjustments are the worst

 

[ZZGAMAZZ]

You make it seems like new model is working for peanuts with large volume.
In SF, minimum wage will be slightly over $19/hour starting July 1. Keep that in mind if it's economical to work for low appraisal fees.

It's not like life or death for me, because I got about $80K annual net guaranteed retirement income--which is a fortune in context with my earlier life, although it's not squat here in Costa Mesa, not to mention how much it costs to be a single male. For various unknown reasons [that only Glenn knows for sure] my income is down 95% this year, and I'm running out of ideas. However, I'm hoping to launch an initiative to offer marital dissolution appraisal services throughout Orange County based upon my affiliation with a firm that provides hundreds of those appraisals east of here; and the law of averages indicates that eventually, as a licensed salesperson, I will obtain a listing or two or three although I'm in competition with millions of other realtors, and I just don't have the personality to make the 10 or 20 follow-up efforts necessary to be successful in that industry. I'm actually tinkering with the idea to become a professional waiter, which was my source of income for 10 or 15 years ago, far away and long go......