comp photo madness

[Proactive]

No it doesn't. The FannieCert® only says that the appraise inspected the comparable from at least the street.

Ditto. I didn't even look it up.

 

[JohnWesleyChapel]

These people are idiots.

Since you are baseing the condition of the comparable at time of sale, a photo taken as close to time of sale is the most accurate reflection of the comparable property. If you use a comp that sold three months ago and the buyers remodeled it that would be misleading.

 

[Greg Parker]

Since you are baseing the condition of the comparable at time of sale, a photo taken as close to time of sale is the most accurate reflection of the comparable property. If you use a comp that sold three months ago and the buyers remodeled it that would be misleading.

I do urban appraisals, many of my areas are in near constant rehab. I typically do not have to drive far for my comp photos, as they are many times walkable before I even get back to my car. I have to include the MLS photo though on rehabbed properties... There can be some pretty drastic changes.

I do use older condo photos when I am feeling lazy though... seems silly that they need a photo of a 27 story building where the surrounding trees are free of leaves. Thankfully, after 6 years in the market, I have them in nearly every season now.

 

[Terrel L. Shields]

Since you are baseing the condition of the comparable at time of sale, a photo taken as close to time of sale is the most accurate reflection of the comparable property

precisely. I go past a place regularly that sold recently. It sold with a blue exterior. If you photographed it 30 days after the sale, its white now...

 

[BNICK]

The best instructions I have seen are from LSI. "To support the value of the subject include interior photo's of the comparables from the MLS .(However ) Current photos (not MLS photos ) of the comparables exterior are required." How hypocritical , its okay to use interior MLS photo's of the comparable but not the MLS exterior photo's . That is why I do no work for them. They are so contradictory in thier instructions.

 

[BRCJR]

The best instructions I have seen are from LSI. "To support the value of the subject include interior photo's of the comparables from the MLS .(However ) Current photos (not MLS photos ) of the comparables exterior are required." How hypocritical , its okay to use interior MLS photo's of the comparable but not the MLS exterior photo's . That is why I do no work for them. They are so contradictory in thier instructions.

It is hard to get interior photos from the street.
I would guess it is to show compliance of the exterior street inspection.