• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Comp Kitchen Photos

Andee

Thread Starter
Sophomore Member
Joined
Dec 11, 2016
Professional Status
Certified Residential Appraiser
State
Texas
Has anyone been asked to provide comp kitchen photos from MLS as a Lender requirement? I have done reports for this Lender before and they were not required, now I'm getting a revision back asking for them. I find it quite strange because if that's what they are basing condition and quality on, they need to look at all rooms of the comps, not just the kitchen. I don't know how many times I have not given a comp a full step adjustment if just the kitchen was updated and the bathrooms were still the same 1950's pink/yellow/blue/green tiles.
 

Salty

Member
Joined
Mar 12, 2010
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I have never heard of such a thing.

I will say in my reports I list each comp's address then write a brief summary explaining differences and similarities to the subject. Such as "Comp 1 had an inferior kitchen but the baths and hardwood flooring were more appealing than the subject" blah blah blah. So its possible I head this off at the pass.

Just another example of why I cant complete $300 1004s from AMC's. I put too much work in.
 

Fritz Smith

Senior Member
Gold Supporting Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
South Carolina
It ought to be worth $50 to comply with a new requirement
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
Has anyone been asked to provide comp kitchen photos from MLS as a Lender requirement? I have done reports for this Lender before and they were not required, now I'm getting a revision back asking for them. I find it quite strange because if that's what they are basing condition and quality on, they need to look at all rooms of the comps, not just the kitchen. I don't know how many times I have not given a comp a full step adjustment if just the kitchen was updated and the bathrooms were still the same 1950's pink/yellow/blue/green tiles.
A revision request for one report does not mean it will be an across board requirement for all reports. They must have a reason for asking for it (no, I never got this specific request ) Regarding your above comment, a kitchen having a few updates may not merit an adjustment, but an upgraded or remodeled kitchen usually does, even if the bathrooms are original . Given that a kitchen upgrade or remodel can range from 10k-20k and higher....(for an average house, more in a high end house)
 

Andee

Thread Starter
Sophomore Member
Joined
Dec 11, 2016
Professional Status
Certified Residential Appraiser
State
Texas
It ought to be worth $50 to comply with a new requirement

I was just saying that same thing to my husband. Having to waste the time of finding the photo, saving it, putting it in a photo addendum, labeling it, then if it's not available (because the RE Agents out here have been taking photos down after they close escrow) explaining why it's not there or searching on Realtor.com or Zillow.com to try and find it.
 

Andee

Thread Starter
Sophomore Member
Joined
Dec 11, 2016
Professional Status
Certified Residential Appraiser
State
Texas
A revision request for one report does not mean it will be an across board requirement for all reports. They must have a reason for asking for it (no, I never got this specific request ) Regarding your above comment, a kitchen having a few updates may not merit an adjustment, but an upgraded or remodeled kitchen usually does, even if the bathrooms are original . Given that a kitchen upgrade or remodel can range from 10k-20k and higher....(for an average house, more in a high end house)


I adjust for partial upgrades if it's not similar enough to the subject, so if the subject is completely upgraded and the comp has only the kitchen, I will adjust for just that (same if it's bathrooms only), if it isn't upgraded at all, it gets a higher adjusted amount. I don't just look at one thing, but as for the revision, it's actually stated in the order, which I didn't read all the way through because I have done work for this same Lender/Client before and it wasn't required....this is new.
 

Andee

Thread Starter
Sophomore Member
Joined
Dec 11, 2016
Professional Status
Certified Residential Appraiser
State
Texas
I have never heard of such a thing.

I will say in my reports I list each comp's address then write a brief summary explaining differences and similarities to the subject. Such as "Comp 1 had an inferior kitchen but the baths and hardwood flooring were more appealing than the subject" blah blah blah. So its possible I head this off at the pass.

Just another example of why I cant complete $300 1004s from AMC's. I put too much work in.

It's not just a revision request, they started putting it in the order, which I did not read all the way through because I have done work for this Lender/Client before, and it didn't exist...it's new, and I would never accept a fee that low, even with AMC work.
 

Tom4value

Senior Member
Joined
Dec 4, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
Has anyone been asked to provide comp kitchen photos from MLS as a Lender requirement? I have done reports for this Lender before and they were not required, now I'm getting a revision back asking for them. I find it quite strange because if that's what they are basing condition and quality on, they need to look at all rooms of the comps, not just the kitchen. I don't know how many times I have not given a comp a full step adjustment if just the kitchen was updated and the bathrooms were still the same 1950's pink/yellow/blue/green tiles.
No, never had that request and there is no way to provide it if the realtor did not put it in MLS. My guess (and it is only a guess) that you give no indication in the report if you actually spoke to the broker about the condition. If you didn’t, call them and put in your response that you can’t get a photo but talked to the broker.

The other reason could be you caught a new person on their first day!
 

CCAAMO

Senior Member
Joined
Sep 17, 2007
Professional Status
Certified General Appraiser
State
California
Sounds like Nationstar/Mr. Cooper. Next time you bid on a job with them and they want kitchen photos for the comps, factor that in to your bid, I think Friz was on the money at $50
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
I've always used one of the bottom lines of the sales grid for kitchen adjustments, not all same quality or condition homes have identical kitchens.
 
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks