1004MC to describe Rental Market ?

[ZZGAMAZZ]

Substitute for any mathematical logical reason - some units rent higher or lower per the landlord and tenant negotiation and need just as some properties sell higher or lower. Trying to make them all line up perfectly introduces an artificial element of precision the market lacks.

That was my perspective, til i decided to apply sufficient due diligence to seller n buyer motivation...

 

[RustyTapeMeasure]

JG, I appreciate your perspective but wouldn't you think that a form would be available to report 12-month rental activity, presumably similar to the 1004MC because the format already exists.

That's a cheap shot you just took using the English language in your favor. However, it's such an effective punch in the gut that I'm unable to respond. Tell you what, that's another advantage of the AF. I appreciate your comment.

Really ? Poster asks how you provide meaningful analysis for your $70,000 per month rent survey on subject condo ? and it is a cheap shot ? We learn a lot from many of your posts, including mention of YOU not realizing the rental contract was $70,000 and thought for quite a while it was $7,000. You deserve the headache component you are receiving for accepting this order, not knowing how to proceed with it, lack of data, no clue how to present your findings ( isn't that supposed to be determined before accepting said order ?) and the wild red flag of a prior rent survey by another appraiser just 1 month prior ?

 

[RustyTapeMeasure]

That was my perspective, til i decided to apply sufficient due diligence to seller n buyer motivation...

I thought this was all about a rental survey on your said $70,000 a month condo. What do buyer and seller have to do with this/that?

 

[RustyTapeMeasure]

sufficient due diligence usually provides 95% of every anomaly.

No it does not.

 

[Dublin ohio]

Dublin, but i dont understand your perspective that implies the analysis and rental adjustments I applied wete faulty, the scenario being ripe for an OV that exceeded adjusted as well as unadjusted vales the former by pennies but the latter by about $35,000 per month to most of the 9 rental comps.

I am not "implying" anything. I am trying to understand how you are supporting a $70k/m lease without actual comparable rents that support that opinion

 

[ZZGAMAZZ]

I thought this was all about a rental survey on your said $70,000 a month condo. What do buyer and seller have to do with this/that?

zzzzz responds to RustyTapeMeasure:

The comment was a response to JG's comment about the inherent variance in rental rates; my response expressed my perspective that contemporary market participants are so saavy that any apparent aberration in value--beyond zzz standard deviation if you will--usually can be explained if the appraiser takes enough time to find the explanation, such as the respective motivations that rarely is published [an exception being "motivated seller]. I'd estimated the one of every report that I create includes a comment, in the Sales Comparision Reconcilation that I prefer to report in a distinct section of the report, with a caveat that the value reported in the SCA "might" be identical to the value expressed in the Final Reconciliation, although not necessarily so, or else why bother considering the other two and possibly reporting one of the other two, as well as the sales comparison--although this diatribribe doesn't pertain to market rents, per se, although IMHO peripheral posts like this, rather than intended to steal a thread, more so depict the intergrated nature of a well-conceived [form] report.

 

[glenn walker]

I am not "implying" anything. I am trying to understand how you are supporting a $70k/m lease without actual comparable rents that support that or both..

The AMC he works for has never seen a $70,000 per month rental and neither has the appraiser. The lead and asbestosis has finally hit the brain and this is getting scary.

What the hell is going on ? I feel like I'm in the Twilight Zone. I know I'm in the land of fruits and nuts, but this is too much.

 

[ZZGAMAZZ]

No it does not.

Perhaps that's your personal opinion because you fail to conduct sufficient due dligence.

Not just that but your comment implies an absolute factor/status, few of which exist in our endeavors because the nuances of real property, as well as the vagaries of real estate markets, don't lend themselves to being pigeon-holed--ergo application of "perhaps" above...kinda like the pat appraiser response to most questions, that "It all depends."

 

[ZZGAMAZZ]

The AMC he works for has never seen a $70,000 per month rental and neither has the appraiser. The lead and asbestosis has finally hit the brain and this is getting scary.

What the hell is going on ? I feel like I'm in the Twilight Zone. I know I'm in the land of fruits and nuts, but this is too much.

GW, IMO you're an expert on more topics than the number of topics I even know to exist; however, have you recently researched the residential rental markets throughout Beverly Hills, West LA, Santa Monica, Malibu, etc....literally dozens of rentals $30,000 and above.

 

[Dublin ohio]

.literally dozens of rentals $30,000 and above.

how many at $70,000?