I am right, right?

[glenn walker]

Note: i know bracketing is a big issue and debate but a big red flag unless your working on a Very high end Mansion if you can't bracket your subject with at least one larger or higher priced property then you have to ask is your subject a outlier or over improved or just way better than your comparables? No matter what you have to have a good story to prove it's value required all those significant positive or negative adjustments.

A test is we took out all adjustments and looked at it that way to see how the Market Perceived it's value. Sometimes we over adjust when buyers and sellers don't. Just saying..lol

 

[Surf Cat]

Fast forward to now. Their investor have problems with CU with my market adjustments, with CU.

Well....first off the appraisal was made as of the effective date 2 months ago and not for today. You were looking at retrospective data back then for the effective date's value. Hopefully, you had active and pending sales to support your increasing market adjustments.

Secondly, since appraisers don't have access to collateral underwriter, we can't see our peers adjustments. We don't know if collateral underwriter takes the pull from behind adjustment, the paired sales adjustment, and/or the linear regression adjustment, and adds them all up and averages them out... or settles with the median adjustment. So, comparing CU adjustments with our market derived adjustments is really none of our concern.

As of "today" rising inventory is outpacing buyer demand in the U.S. housing market. So it might be the investor's numbers aren't working out today as they were a couple months back..... you probably caught the tail end of the increasing market "back then". That's how the cookie crumbles....

Hopefully, you're communicating with the investor through your client and not directly with the investor (unless the investor was your client).

 

[glenn walker]

Well....first off the appraisal was made as of the effective date 2 months ago and not for today. You were looking at retrospective data back then for the effective date's value. Hopefully, you had active and pending sales to support your increasing market adjustments.

Secondly, since appraisers don't have access to collateral underwriter, we can't see our peers adjustments. We don't know if collateral underwriter takes the pull from behind adjustment, the paired sales adjustment, and/or the linear regression adjustment, and adds them all up and averages them out... or settles with the median adjustment. So, comparing CU adjustments with our market derived adjustments is really none of our concern.

As of "today" rising inventory is outpacing buyer demand in the U.S. housing market. So it might be the investor's numbers aren't working out today as they were a couple months back..... you probably caught the tail end of the increasing market "back then". That's how the cookie crumbles....

Hopefully, you're communicating with the investor through your client and not directly with the investor (unless the investor was your client).

They didn't flag it just because of CU it was physically reviewed post closing by whomever they sold or funded the loan. And yes we have to be able to support or justify why we made certain adjustments and yes we may consider not making any adjustment unless it can be shown that it's justified. All (+ or -) adjustments are flashing yellow lights which can turn red.

 

[Zoe]

Well....first off the appraisal was made as of the effective date 2 months ago and not for today. You were looking at retrospective data back then for the effective date's value. Hopefully, you had active and pending sales to support your increasing market adjustments.

Secondly, since appraisers don't have access to collateral underwriter, we can't see our peers adjustments. We don't know if collateral underwriter takes the pull from behind adjustment, the paired sales adjustment, and/or the linear regression adjustment, and adds them all up and averages them out... or settles with the median adjustment. So, comparing CU adjustments with our market derived adjustments is really none of our concern.

As of "today" rising inventory is outpacing buyer demand in the U.S. housing market. So it might be the investor's numbers aren't working out today as they were a couple months back..... you probably caught the tail end of the increasing market "back then". That's how the cookie crumbles....

Hopefully, you're communicating with the investor through your client and not directly with the investor (unless the investor was your client).

I agree. Lender already approved. We have no clue what CU is basing anything on or if it is even applicable to the appraisal problem.

That is not where my concern was. My concern was with which market adjustment they had a problem with.

Then we can say show me your cards and I can show mine.

 

[Zoe]

I want this appraiser free and clear. I want it resolved right now. Not yesterday. Not a month from now. Today.

Makes me think of reconsideration of value.

 

[Zoe]

If I don't know cards CU is playing, then we have a problem Houston?

Show me your cards. Let's consider ROV.

 

[Surf Cat]

They didn't flag it just because of CU it was physically reviewed post closing by whomever they sold or funded the loan. And yes we have to be able to support or justify why we made certain adjustments and yes we may consider not making any adjustment unless it can be shown that it's justified. All (+ or -) adjustments are flashing yellow lights which can turn red.

Based on Tom4value's historical posts.... I can't see him making all positive adjustments within the grid or not being bracketed.... his initial post is little sparse with details however. Sounds like a disgruntled investor...

 

[Zoe]

Play fair:

 

[Joe Flacco]

If it is a problem for the client, I might revise it and show them a couple more recent sales that occurred after the fact that support the across the board market conditions adjustment.

 

[Zoe]

Based on Tom4value's historical posts.... I can't see him making all positive adjustments within the grid or not being bracketed.... his initial post is little sparse with details however. Sounds like a disgruntled investor...

Baby, I promise you I can't bracket everything and my client don't always expect it. However, I am pretty good at narrative and explanation. Please see attachment if necessary.