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Can I Use The Subject As A Listing?

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Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
The market is getting scarce and I'm having a hard time finding good comparable listings. Would it be okay if I used the subject as a listing? Its by far the best comparable listing.
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
The market is getting scarce and I'm having a hard time finding good comparable listings. Would it be okay if I used the subject as a listing?
1) If that is the only data you can find, then what does that tell you about the market?
2) Haven't you already analyzed the subject as a listing in the sales history of the subject section of the report?
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
The market is getting scarce and I'm having a hard time finding good comparable listings. Would it be okay if I used the subject as a listing? Its by far the best comparable listing.


what would the point be? aside from a possible lp/sp ratio there would be zero adjustments, so why?
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I too am having trouble finding listings, but if none other than subject found, then so be it, explain to the client. Or use the next best listing from wherever you can find one and explain inventory shortage. I suppose technically you could
do it, not sure what kind of client acceptance would result or what it would accomplish. If subject is in pending contract of sale that is analyzed as part of assignment , if it is listed but not in contact what is the status?
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
a subject's listing is now a "comparable" listing? Interesting Concept. A prior recent closed sale of a subject property perhaps - but an active listing is now competitive with itself? Cool.
 

norapp

Member
Joined
Jul 11, 2016
Professional Status
Certified Residential Appraiser
State
New York
Nationwide shortage in many area for listings. I'm sure they know this. If not let them know you have nothing.
 

Peter LeQuire

Elite Member
Joined
Jan 3, 2005
Professional Status
Retired Appraiser
State
Tennessee
If you have no "comparable" listing, use a competing one, if there is such - a property that a buyer would consider were he, for example, was being transferred in and had to find a place to live. Some markets just won't allow a UAD-perfect appraisal.
 
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