A word to the wise Mr Andreas .. YOU SHOULD NEVER REVIEW. YOU invoked the extraordinary assumption HE DIDNT know what he was looking at. That sir, is quite dangerous and a bit assuming on your part. It seems you think you know better what he inspected.
Your feelings aside, HE saw it ... You didn’t .... that in my mind lends more creditability to him ...
PE, thanks for the direct and forthright opinion. Whether I agree or not, your comments are always thought provoking and direct.
Should I assume the original appraiser was right in calling the area GLA – using the “he saw it” credibility defense?
The data lacks credibility and precludes making any reasonable assumption. My assumption is based solely upon available data. I cannot place blind faith in the appraiser’s unqualified diligence or competence. We have not seen a report or photos. Based upon the evidence, I don’t think I know better; I think I need to know more before jumping to a conclusion.
Faced with questionable data and given the choice - - of erring towards assuming the appraiser was right versus vs. applying diligence and validating the credibility of the data, I’ll place my faith in the data. As far as I’m concerned “partially open” has as much meaning as “partially pregnant”. My feelings are derived purely from the evidence.
I enjoyed one of my assignments this week, appraising a $450,000 property that was valued (and refi’ed 7 months) ago at $650,000 in a – quoting the report – “market of increasing values”. I thank that reviewer for being so astute and concluding that the subject was comparable to the 4 highest sales in the preceding 4 months. The original appraiser even included a run of 76 “comps” for the preceding 6 months where 67 sold for less than $530,000. Ignoring the data and placing blind faith in the appraiser, maybe I could reach the same erroneous conclusion. Now, that is someone who should never review again.