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Blown up about within 1 mile previously

OG80 said:
Some of you on here blew me up when I mentioned I wanted to stay within a mile with my comps. Seems most of you don't adhere to that. So, I started to use comps more than a mile if needed and just got this revision request (not the first one either I might add):
-Please comment on why appraiser exceeded 1 mile for sales? 2-Please provide an additional sale within 1 mile that supports.
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Well... I wasn't one of them. It has always been 'Location, Location, Location'. It is true however that proximity doesn't necessarily mean a property is in the same market.. and therefore comparable... to the subject. 'Neighborhood', 'Market', and 'Market Area' are not the same things. It is also true that sometimes a sale that is located some distance from the subject property may be more comparable than the property next door. Bottom line, as always, use the most relevant, recent, similar, and proximate comparables that are available.
 
George Hatch said:
The time/place to start preparing your reader for what you need to do on pg 2 is on pg 1 where you're summarizing your neighborhood attributes - including the composition. Then revisit that context when your summarizing your site attributes site and on the last line of the improvements section where you're commenting on the overall comparability of your subject to its neighborhood.

It's not just rural locations, either; but any atypical aspect about your SC.

A lot of appraisers in this situation use generic and meaningless boilerplate through most of pg one and then spring the distance or other big variables on the reader at the last second on pg 2. That's a mistake. The dominant theme in this SC is that the market segment consists of relatively few such properties and is thinly traded. That's why you have to expand your geographic radius. That theme should be started early in your report and repeated as necessary on the front page. Don't wait until the reconciliation paragraph of the SC to start talking about the problems you had scrounging up comps. Because by the time an unprepared reader gets to that reconciliation they are already questioning your comp selection.
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^^^ 100%

My very first mentor has a saying that I love - "There should be no surprises on page 2 of the report."

The fact that the comps may be farther away should be set up by the commentary on page 1 of the report. In the case of the OP, the commentary on the neighborhood and the market area on page 1 should set the the reader up to expect the comp distances seen on page 2.
 
To quote a manic....
"Move to where the food is"....

We all know rural....
So stop the whining about reviewers....
 
George Hatch said:
A lot of appraisers in this situation use generic and meaningless boilerplate
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I would argue that a lot of boilerplate is created in response to inane UW requests. The imagination of reviewers and UWs is unlimited. The addition of pointless commentary is an outgrowth of being asked to address that issue at one time or another.
 
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