Across The Board Time Adjustments?

[DARREN GODFREY]

I'd say you are incorrect.

I can think of no other adjustment that is so easily supported and would warrant application "across the board" than a market condition adjustment.

Did the report fail to support the adjustment or are you questioning if such an adjustment can be applied to all the closed sales in the grid?

Yeah, well if 3 months equals 10k in a market where homes are being marketed for up to 180 days, it wouldn't make since. In addition if we did that with every non stable market we would be actually dictating the market in a way.

 

[hastalavista]

Yeah, well if 3 months equals 10k in a market where homes are being marketed for up to 180 days, it wouldn't make since. In addition if we did that with every non stable market we would be actually dictating the market in a way.

You did not answer my question.
Did the report support the adjustment or did it not?
Do you have an issue with a market-condtion adjustment that is across the board if it is supported?
And...

The bad thing is now I need to say he inflated the value without really saying it.

I don't know what this means coming from a reviewer who potentially will review one of my reports?

How about the report didn't adequate support the adjustment? Or have you concluded that the report is misleading and fraudulent?

By the way, if the market is dropping like a rock, and your most recent comparable is 2-months ago because of the scarcity of sales (lots of supply and no demand), would you conclude that across the board downward adjustments are not supported?

 

[DARREN GODFREY]

I'd say you are incorrect.

I can think of no other adjustment that is so easily supported and would warrant application "across the board" than a market condition adjustment.

Did the report fail to support the adjustment or are you questioning if such an adjustment can be applied to all the closed sales in the grid?

Yeah, well if 3 months equals 10k in a market where homes are being marketed for up to 180 days, it wouldn't make since. In addition if we did that with every non stable market we would be actually dictating the market in a way.

You did not answer my question.
Did the report support the adjustment or did it not?
Do you have an issue with a market-condtion adjustment that is across the board if it is supported?
And...

I don't know what this means coming from a reviewer who potentially will review one of my reports?

How about the report didn't adequate support the adjustment? Or have you concluded that the report is misleading and fraudulent?

By the way, if the market is dropping like a rock, and your most recent comparable is 2-months ago because of the scarcity of sales (lots of supply and no demand), would you conclude that across the board downward adjustments are not supported?

If you are making across the board time adjustment's and the marketing times aren't in the -20 day mark I would say you have far more issues than worrying about the reviewer buddy.

I love this site due to it being a wealth of knowledge, however. They normal internet trend of not really being helpful and digging at posters is not cool at all.

 

[residentialguy]

I'm with Denis here. You seem irritated that he made across the board adjustments, but have not shown proof to the contrary other than he use one REO. You're being combative with Denis who is the most understanding, yet one of the highest grade appraisers ever to grace this forum. I suggest that you really take off your combat gear and listen to him. You will come out a winner by doing so.

 

[DARREN GODFREY]

Yeah, well if 3 months equals 10k in a market where homes are being marketed for up to 180 days, it wouldn't make since. In addition if we did that with every non stable market we would be actually dictating the market in a way.

If you are making across the board time adjustment's and the marketing times aren't in the -20 day mark I would say you have far more issues than worrying about the reviewer buddy.

I love this site due to it being a wealth of , however. They normal internet trend of not really being helpful and digging at posters is not cool at all.

I'm with Denis here. You seem irritated that he made across the board adjustments, but have not shown proof to the contrary other than he use one REO. You're being combative with Denis who is the most understanding, yet one of the highest grade appraisers ever to grace this forum. I suggest that you really take off your combat gear and listen to him. You will come out a winner by doing so.

Actually I examined this and posted that he based his adjustments on a MC form...so maybe you should both read that. Anyways, thanks for all the help guys. As usual when I come to this site I will get one answer that actually points in a direction for me to go to make sense , then I get post of dirty pointing fingers that assume that I haven't done any research.
Let me say generally by the time I choose to expose myself to this site it is after a bunch of fact checking and that flat out pisses me off that people who don't know me will suggest that I have been appraising for 12 years and I don't know anything. It's called a lack of respect and although you side with who ever , you did not read my post where I explained how he came to support his judgement .. so in essence I have done a couple of hours of research and you didn't read all of my quotes and somehow I am supposed to be cool with that ....just peachy.

 

[residentialguy]

Darren, the 1004MC is a market analysis. Why do you have a qualm with that???. In order to make time adjustments, you have to support it with a market analysis. You didn't give us any data to look at to see if it is indeed, not supported. Anytime you are appraising in a increasing market, the active and pending listings are going to be the only things that sell or show the same price as the subject. If you're looking to just get a pat on the back and a "atta boy" without reason, you have come to the wrong place.

 

[DARREN GODFREY]

Darren, the 1004MC is a market analysis. Why do you have a qualm with that???. In order to make time adjustments, you have to support it with a market analysis. You didn't give us any data to look at to see if it is indeed, not supported. Anytime you are appraising in a increasing market, the active and pending listings are going to be the only things that sell the same as the subject.

Well if you read my comments earlier , he used skewed data in the first 6 months, meaning that I went back and looked up the market area...in this case the legal subdivision with plenty of sales to come up with an opinion of value for the subject. However in that first 6 month period there was a foreclosure that sold for about 50-60k less than any of the comps. So in a market that is not foreclosure dominated using the data from that form turns a stable market into an increasing one.
I personally assemble my MC forms based on basic data...but then if I am indicating a increasing or decreasing market I go back to paired sales analysis to see if my conclusions are correct. That one foreclosure ended up being the fly in the ointment.
Furthermore I just don't believe he didn't note this ....USING AN ACROSS THE BOARD ADJUSTMENT IS A VERY STRONG THING!

 

[residentialguy]

What city is the subject located in?

 

[DARREN GODFREY]

What city is the subject located in?

Crofton, MD

 

[residentialguy]

The OA used like 10 paragraphs to defend this adjustment.

What did the paragraphs say?