- Joined
- Jan 13, 2002
- Professional Status
- Retired Appraiser
- State
- Florida
Received a fax of a 2055 that was completed this past July by a trainee that is now certified and out of a real 'make whatever you want' appraiser sweat shop. This one I'll do freebie as it was not sent as a potential review assignment, just to show me what was recently done. The certified supervisory appraiser was not on their approved list and this is my really honest best client. I won't get into any value issue right now as I don't know where it's going to end up. I declined to do a new appraisal on this after I explained the neighborhood to the processor and what the comps used in that older report really were. I will say that the rare legitimate sales in this area are between $50 - $65 and this appraisal came in at $77,500. Most activity here are repos and flips, over and over again on some of them.
Dates of sale across the line was N/A. Could have been an error that they forgot to go back and fix. All were newer sales. Only 1 of these comps showed the previous sale. All comps are investor flips with a history of flips. Some GLAs were adjusted and one was not. Subject has 1 bath and comps with 2 baths were adjusted by -500. Wells Fargo Financial (B-C branch) did a nice big 2nd using this appraisal.
Dates of sale across the line was N/A. Could have been an error that they forgot to go back and fix. All were newer sales. Only 1 of these comps showed the previous sale. All comps are investor flips with a history of flips. Some GLAs were adjusted and one was not. Subject has 1 bath and comps with 2 baths were adjusted by -500. Wells Fargo Financial (B-C branch) did a nice big 2nd using this appraisal.