Three days in a row. Different GLA than advertised.

[djd09]

yeah public records are right about 1 in 3 times around here... so i just warn the client beforehand...and ansi makes it a quagmire...disclose and disclaim

 

[alebrewer]

I can't even imagine how much fun you'd be in person, Zoe!

 

[TerryRohrer]

...that brain cell of Zoe.

Uh huh!

 

[ZZGAMAZZ]

Love this. I'd go a bit further and say that there is never one point value for a property - simply because every market participant's preferences are different. So that, after having developed a well supported range of value, any point within that range would be just as statistically significant as any other point. The benefit AVM's have over traditional appraisals is that they're users are ok with confidence intervals - something appraisers would be VERY well suited to do - if allowed to and if they understand how to.

AB, I usually consider the width of the adjusted value range as a critical factor, i.e., the more narrow it is, the more obvious that the price point is. Question: is there a mathmatical expression to describe the width other than in absolute dollars, e.g., from $xxxx.o to $zzz.o, or $.....00? Can the width be described in relative terms, perhaps a ratio of some sort, or a variance percentage?

 

[ZZGAMAZZ]

It's surprising that public records showed property larger than it really was; generally, it's the other way around (built without permits). I've only come across this issue a few times, so your experience is remarkable. Local building inspector not physically visiting property or plans not reviewed, or builder fraudulently misrepresenting what he was selling?? Odd.

2 instances I ran into where the actual GLA was smaller by about 12%, the builder/developer had the larger square footage in the brochure, with statement that the actual finished space may be different. The sketch on the high-rise condo revealed the size was short, and buyer renegotiated the $$$sale price.

In measuring the other new construction house in Beaumont, it felt smaller than expected, and appraisal showed GLA was short about 15%. Buyer sued seller/builder (& won $$$), insisting they were not getting the square footage they were paying for.

The 3rd case was a very old building in the Crenshaw District, where a portion of the original structure, probably a sunroom or dining area, was missing. It was clear where that indoor space had been part of the original house. That one was unforgettable, because there were very noisy wild parrots flying all over the place. Apparently some birds had escaped captivity long ago, and made that area their hangout. Soooo loud!

...from Crenshaw to Beaumont..."sea to shining sea"...I feel your pain...just this week from Apple Valley to Irvine to Lake Elsinore...

 

[ucbruin]

...from Crenshaw to Beaumont..."sea to shining sea"...I feel your pain...just this week from Apple Valley to Irvine to Lake Elsinore...

Crenshaw....
Are you referring to South Central LA Crenshaw....
My childhood stomping grounds....

 

[Sandra Koutsopoulos]

"...from Crenshaw to Beaumont..."sea to shining sea"...I feel your pain...just this week from Apple Valley to Irvine to Lake Elsinore..."
Jeepers, if you would have stopped in Lake Elsinore. I would have offered you a cup of coffee & a piece of freshly baked cheesecake, or cookies.

"Are you referring to South Central LA Crenshaw.... "
Yes indeed. When I lived in Orange County, I used to do a lot of work in LA, but now I'm out in Lake Elsinore, I'm doing more Riverside, San Bernardino & San Diego, though I'm in Orange & LA Counties often... even Ventura lately for a regular customer.

During my initial appraisal training in the 90s, my mentor handled stuff from Bakersfield to the Border, Pacific to Blythe, and everything in between, so I have continued in that way.

 

[ZZGAMAZZ]

"...from Crenshaw to Beaumont..."sea to shining sea"...I feel your pain...just this week from Apple Valley to Irvine to Lake Elsinore..."
Jeepers, if you would have stopped in Lake Elsinore. I would have offered you a cup of coffee & a piece of freshly baked cheesecake, or cookies.

"Are you referring to South Central LA Crenshaw.... "
Yes indeed. When I lived in Orange County, I used to do a lot of work in LA, but now I'm out in Lake Elsinore, I'm doing more Riverside, San Bernardino & San Diego, though I'm in Orange & LA Counties often... even Ventura lately for a regular customer.

During my initial appraisal training in the 90s, my mentor handled stuff from Bakersfield to the Border, Pacific to Blythe, and everything in between, so I have continued in that way.

As a trainee living in fontana, my mentor gave me a job in Nakersfield. I couldn't even find Bakersfield, but wasn't long b4 I was hyping jobs in Taft, shifter, delano..logged 70p00 miles on the odometer in 1 year. Then one day he calls me into the office [spare bedroo.] To congratulate me to be opening a branch office... in , .TEMPE... so I got the reciprocal and drove back n forth hundreds of .miles weekly... .iving tomorrow ffrom costa mesa back to rvsd... every damn person more wealthy than me!!! Still dont know this is the best job in the world... or the worst. BTW lost
Y glasses...

 

[Sandra Koutsopoulos]

That's why I have 350,000 miles on my Buick.

 

[Terrel L. Shields]

My childhood stomping grounds....

How often were you stomped there?

Question: is there a mathmatical expression to describe the width other than in absolute dollars, e.g., from $xxxx.o to $zzz.o, or $.....00?

The more truly comparable comps you have the more likely you can do a simple standard deviation. that's one way. 12C or use a spreadsheet.