Adjustment Software

[weird_limbs]

This one is a free tool. You can get market condition analysis (with graphs), GLA adjustments, and more. It also has an appraiser-assisted AVM, if you like that kind of stuff.

https://the-adjustments-app.streamlit.app/

Here are the video demos too:

 

[Trihard]

The problem has never been the lack of tools. The problem is the lack of comps.

 

[Terrel L. Shields]

View attachment 93928

I repeat myself. Who at FNMA is getting the kickbacks from these software vendors? Face it, such things do not happen in a vacuum. Someone is selling these programs to FNMA who is then demanding appraisers use them... OTOH, if they decide to not do an appraisal, anything goes. WTF?

 

[NC Appraising]

how so?

1206 gifford dr matthews nc
4809 hickory glen matthews nc

subject is 2,440 sqft.

Thats how.

 

[TerryRohrer]

1206 gifford dr matthews nc
4809 hickory glen matthews nc

subject is 2,440 sqft.

Thats how.

 

[alebrewer]

1206 gifford dr matthews nc
4809 hickory glen matthews nc

subject is 2,440 sqft.

Thats how.

That explains everything...

If you don't want to have a serious conversation, just say so. No need to post nonsense. The point of bracketing is to reduce the adjusted price range. So, again, back to my question: Assuming you have appropriate comparables, how does reducing the adjusted price range create 'misleading and inaccurate adjustments'? Feel free to just say, 'Because I said so'. That will make more sense than what you posted.

 

[NC Appraising]

That explains everything...

If you don't want to have a serious conversation, just say so. No need to post nonsense. The point of bracketing is to reduce the adjusted price range. So, again, back to my question: Assuming you have appropriate comparables, how does reducing the adjusted price range create 'misleading and inaccurate adjustments'? Feel free to just say, 'Because I said so'. That will make more sense than what you posted.

I am being serious. I will admit, I have been burnt/eqq on face multiple times on the "bracketing" technique.

I will admit also that I can sound like a hypocrite also, as I bracket my comps on a daily basis. I will also admit to using non-comparable sales just to bracket a feature. I typically put that little pos COMP as comp 7 and state that I only used it for bracketing purposes (to avoid a rejection, lower my score...less appraisals). This profession is full of shet.

Those comps are from a report that I turned in literally 5 minutes ago. If I were to have relied on those sales for the GLA adjustment (bracketing/sensitivity) it would have led to a inaccurate adjustment.

1206 gifford closed 09/24 sold $625k and is 2,326 sqft 4809 hickory glen closed 10/24 $610,000 and is 2,586 sqft. Take a look on zillow.....pretty much matched pairs (4809 has a slightly larger lot).

The market is not perfect and buyers are irritational. Furthermore, take 2022 for example when buyers were not even looking at homes and buying them sight unseen.

You know more about stats than I do. Most agree that you need atleast 20-30 data points. So why is this any different for match pairs? Not saying you need 20-30, but more than 1 data point wouldnt hurt.

Honest here, are we talking about matched pair or grouped matched pairs? Yes, bracketing is a form of matched pair. We agree. The data can also be misleading. See my example.

Bracketing can support the adjustment, but the adjustment should not ONLY be derived from bracketing.

 

[alebrewer]

I am being serious. I will admit, I have been burnt/eqq on face multiple times on the "bracketing" technique.

I will admit also that I can sound like a hypocrite also, as I bracket my comps on a daily basis. I will also admit to using non-comparable sales just to bracket a feature. I typically put that little pos COMP as comp 7 and state that I only used it for bracketing purposes (to avoid a rejection, lower my score...less appraisals). This profession is full of shet.

Those comps are from a report that I turned in literally 5 minutes ago. If I were to have relied on those sales for the GLA adjustment (bracketing/sensitivity) it would have led to a inaccurate adjustment.

1206 gifford closed 09/24 sold $625k and is 2,326 sqft 4809 hickory glen closed 10/24 $610,000 and is 2,586 sqft. Take a look on zillow.....pretty much matched pairs (4809 has a slightly larger lot).

The market is not perfect and buyers are irritational. Furthermore, take 2022 for example when buyers were not even looking at homes and buying them sight unseen.

You know more about stats than I do. Most agree that you need atleast 20-30 data points. So why is this any different for match pairs? Not saying you need 20-30, but more than 1 data point wouldnt hurt.

Bracketing can support the adjustment, but the adjustment should not ONLY be derived from bracketing.

My sincere gratitude for the cogent and thoughtful response! This makes a lot of sense - and much I agree with (primarily the point about bracketing not being the 'only' adjustment utilized. As a side note - I've found that bracketing only works when you've been able to isolate the element of comparison you're bracketing. IOW - if you've solved for the other variables (and solved for them appropriately), then isolate GLA and minimize the adjusted range via the use of whatever adjustment factor accomplishes that - it should be correct. At the very least - it's correct for that particular data set. And any bracketing I do ALWAYS has at least 6 data points - I never use less than six sales in an SCA. Although, to your point, the low and high are the two that really drive the factor to be used.

WRT the examples you provided - those appear to be great examples of the heterogeneity of the market. Both similar condition, similar site size, similar age and room count. The property at 1206 Gifford appears to have a better amenity package (gazebo and landscaping), but otherwise not much different besides the GLA. One possible explanation for the apparent lack of support for bracketing GLA in this example could be that that particular market is experiencing diminishing returns at any GLA over, say, ~ 2,300 to 2,400' GLA... IOW, the property at 4809 Hickory Glen may be experiencing some functional superadequacy. I don't know cuz I don't know your market - but those are good examples!

 

[Digger88]

Hello. I got a revision asking me to explain my methodology for my adjustments, which I was told the GSEs are hitting on now. During my conversation with a QC rep, she told me some appraiser's are adding a page with some type of software that makes it easier. I am attaching a file. Can anyone tell me what this is?

I use Spark and Synapse whenever I type reports unless it's a simple condo. 1. it keeps the UWs and AMC checkers happy 2. I want to stay off F/F & HUDs hit list and 3. it simply reinforces what you know as 'additional support' their favorite buzz-phrase of the day. The VA doesn't care they at least respect us. It's $50 and $30 a month respectively and all together take less than 15 minutes to complete I highly recommend them. Supposedly they are integrating both into 1 app which should be cheaper in the coming year.

 

[NC Appraising]

I repeat myself. Who at FNMA is getting the kickbacks from these software vendors? Face it, such things do not happen in a vacuum. Someone is selling these programs to FNMA who is then demanding appraisers use them... OTOH, if they decide to not do an appraisal, anything goes. WTF?

No kickbacks.

Aloft is a national appraisal company.

Aloft Appraisal​

A venture-backed technology company whose goal is to revolutionize the industry through modern appraisal tools.

Aloft was founded by and is lead by Travis Soukup, CEO. Travis founded the company in December of 2020, and has raised over $20m in venture capital from some of the world's leading VC firms.

This is my opinion only:

I have been saying this for year now. They want to nationalize appraisers (staff) and get rid of IFAs.
They have staff appraisers all over the country.

A few national appraisal firms will control and dominate the market and will be performing most of the hybrid appraisal reports. IFA will get the very complex or areas they will not cover ( soon there will be a national MLS and I can see these staff appraisers being certified in multiple states, having 2-3 typists, and covering several states.