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Comp Photos

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normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
What is the deal with comp photos? My client states no MLS photos. Fine. However, they never stated it had to be same time as the effective date of appraisal. Is it assumed it is? I have data base of comp photos and I like to reuse them. The lender would never know except if the weather condition is different from my appraisal date. Sometimes, if the comp is not too far, I retake the photo but I don't really want to. Has any appraisal been called out for comp photos not being same time as appraisal date?
 

Peter LeQuire

Elite Member
Joined
Jan 3, 2005
Professional Status
Retired Appraiser
State
Tennessee
Unless a lender/AMC/client stipulates when the comp photos should be taken, I have no reservation about using a file photo that I took during the time the comp was listed or subsequent to its sale.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
I have one comp with for sale sign on it and I like to use it. Long time ago, reviewer saw a for sale photo and asked if comp was for sale?
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I usually make a comment in the appraisal report if a comp. photo I took has a fore sale sign in the yard. I nip that bud before they get a chance to ask.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
I have one comp with for sale sign on it and I like to use it. Long time ago, reviewer saw a for sale photo and asked if comp was for sale?
That sounds like a reasonable question to me.


You should double-check your engagement agreement/assignment conditions requirements to ensure that the client doesn't require current photos with a current assignment.
(While I think it is foolish to re-shoot a comparable one already has used/vetted, some clients apparently want photos of the comparables that are contemporaneous with the inspection date)
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
some clients apparently want photos of the comparables that are contemporaneous with the inspection date)
But why? It makes no sense, The date of sale is the best pix you can get. At worst it could be misleading if it was remodeled.Ths is the same house six months apart.

F9-GUEST (Small).JPG image_view.asp.jpg
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
But why? It makes no sense, The date of sale is the best pix you can get. At worst it could be misleading if it was remodeled.

Well, despite my thinking it is foolish (as I said), I suspect they require it to ensure that the appraiser actually drives by the property and observes it. That's just my suspicion.

Given the number of appraisal reports that use MLS photos, the lack of trust... while irritating... isn't entirely unfounded.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
But why? It makes no sense, The date of sale is the best pix you can get. At worst it could be misleading if it was remodeled.Ths is the same house six months apart.

View attachment 29641 View attachment 29642
True, best comp is photo at or at time of sale. But silly client wants drive by photos to prove we drove but I play their rules. The question is has anyone got in trouble with a photo when the weather is different from subject. Or client doesn't notice.
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
The question is has anyone got in trouble with a photo when the weather is different from subject. Or client doesn't notice.
I guess it just comes down to how much you want to chance it.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
I guess it just comes down to how much you want to chance it.
My subject is in an area where when foggy, you can't see anything but when sunny, you have million dollar views of ocean. I admit I try to make appointments when it's clear and beautiful depending on the hour but the weather is unpredictable. Maybe if the weather is different, I can say the photo weather changed later in the day.
 
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