Average versus Fair condition

[Couch Potato]

Webbed:

1) IMO there is a difference between "below average" and "fair."

2) My comments in Post 21 pertain as much to comparables as to the subject so it's a question of market reaction rather than hiding negative issues about the subject. Often times C1 has a few upgrades and C2 has numerous upgrades. C1 would be "above average" and C2 would be "good."

 

[Webbed Feet]

Webbed:

1) IMO there is a difference between "below average" and "fair."

2) My comments in Post 21 pertain as much to comparables as to the subject so it's a question of market reaction rather than hiding negative issues about the subject. Often times C1 has a few upgrades and C2 has numerous upgrades. C1 would be "above average" and C2 would be "good."

I understand. But "fair" is defined as "below average" in most dictionaries defining the term. Tell me, what are you going to do if clients start demanding you do not use "below average?"

Webbed.

 

[Kevin A. Spellman]

In my experience with damaged vacant homes, I separate the condition of the home from the curable functional inadequacies. A typical buyer cannot avoid the costs of repairs with a damaged home.

If someone calls you about terminology within your report state to them: you are entitled to your own opinion, but you are not entitled to your own facts. The report in your possession and the photos you have reviewed is the facts. Asking me to change the report does offend my credentials in respect to my education and the experience I possess.

Just remember we are always one report away from loosing another client.

 

[ZZGAMAZZ]

My client relationships are as contentious as the situation demands; however, I'm merely seeking the best descriptor in order to make the report more concise, but not standardized to the extent that it's sanitized.

 

[ZZGAMAZZ]

I can't remember ever having a client or a lender request a change of verbiage--other than stupid stuff like take the "Rural" our of "Rural Residential," etc., etc.

 

[CANative]

other than stupid stuff like take the "Rural" our of "Rural Residential," etc., etc.

MB trying to inflate his YSP. Oldest trick in the book.

 

[Robert E Keller]

Good is Good, Average is Average, Fair is Fair and Poor is Poor, The appraisal is your judgement and not the lender, buyer, or realtors call. Stick to your report or Charge them 5 million to change it as you then can send your license back to the state and retire. I get pressure in Florida all the time and you have to bite back. PS I am a appraiser, Realtor (oooops) and a Instructor for both real estate and appraisal. They have paid you for your opinion on the property and thats what they got! not the buyers, realtors or lenders opinion. Stand firm....

 

[Joe Booth]

If every home in the nieghborhood is in poor condition, isn't it Average??

Just throwing that out there.

 

[Robert E Keller]

Joe, that would be addressed under the improvement section, (does the property generally conform to the neighborhood, not in the grid section with the comps. but on second thought a dump in a area of dumps may be average for all the dumps.

 

[Pat Butler]

I agree that a dumpy house in an area of dumpy houses would be average. However, this is a debate that goes way back as to whether these ratings are absolute or relative ratings.