Concessions and what to do about

[Steve Owen]

I used to think Missouri was behind the times. I lobbied my state representatives to try to get disclosure passed. Now I think we are a lot better off than the rest of you. It's a whole lot harder for an AVM to operate here. Part of my appraisal business is knowing where to find data. I've worked in Kansas and having disclosure is nice. Yeah, it can be a pain in the neck working in Missouri, but overall I think we are better off than the rest of you.

 

[Jo Ann Meyer Stratton]

Fredrick:
Been out of town for two days so finally getting back to your question. In some states--no there is not any tax stamps, there is not any public source of method of any kind that indicates a sales price. Nothing what so ever. So it is knock on doors, talk to strangers walking down the street, visting and calling every realtor in the county to find one sale and then more calling to get the info on the property itself and no public way of any kind to verify the information. We appraisers in disclosure states are extremely lucky. But then as someone else said, the people in non-disclosure state don't have to worry about AVMs!

 

[Joe Sloan]

Frederick

Any Texas appraiser knows the best way to get information in the non-MLS areas is to go on Saturday. Manufactured homes are the toughest, with new sales not listed in MLS anywhere, and non-assemblage, virtually non-existent. Find the home that looks kinda new and knock on the door. You better knock on the back door and leave your camera in the car, or they might think you are a Revenue Agent. I can't tell you how many times I have knocked on a door because the home had a new looking deck, or an unused fireplace chimney. Almost without exception, I can get good informantion, and sometimes I even get copies of the HUD-1, Survey etc. right there on the spot.

No tax stamps.
No sales prices recorded in any goverment agency.
No nothing to indicate the selling price except shoe leather and MLS.

Bring on the AVM's to Texas, and I'll get fatter on the REO's.

GO HOUSTON TEXANS, ... STATE CHAMPS!


Joe Sloan

 

[Tim Hicks (Texas)]

Joe,

Be vewy, vewy careful on those new MH sales by knockin on doors. Our state has Jo Anne's article posted at the TALCB. If the entire unit is not exposed to the open market, then it is not a valid sale. I have never seen a new MH/land package ever exposed to the market correctly in our area. Most are inflated way over cost figures and lot values tend to be overpriced in these neghborhoods too. I have a field day reviewing MH appraisals in this area where MLS data does not support MH appraised values. Don'tyou think that sonner of later MLS re-sales should support these values? A helpful hint, if you use a non-MLS sale, include then HUD-1 with the report in case of review. I have obtained many HUD-1's only to discover they are owner financed or some other non-typical financing. If they can buy a new brick home on a slab with an attached garage for less in the same area, alarms should be going off everywhere.

 

[Steve Owen]

Another good way to get valid mobile home sales in a non-disclosure state. Thumb through the MLS and look at the pictures. A lot of agents in our MLS list them as SFR instead of MH. lol.

 

[Pamela Crowley (Florida)]

I've been trying very hard not to make this comment, but I must not hold it in any longer.

WHY DO REALTORS CALL THEMSELVES REAL ESTATE PROFESSIONALS?????

:twisted: :twisted: :twisted:

Sorry.... that was a gross generalization. I'll re-word it.

Why do so many Realtors call themselves Real Estate Professionals and still make mistakes like these?

 

[Steve Owen]

I don't think it's a mistake, Pam.

 

[Blue1]

Steve,

How right you are!!! In my area, agents routinely list MH sales as SFR's. DRIVES ME UP THE WALL!!! I especially love it when they list the GLA of the home as "9999999" 'cause they're too lazy to measure the dang thing. Other than that there's the omnipresent missing/wrong assessor's parcel number. O.K. I done ranting.......for now! :lol:

 

[Bill_FL]

Blue,

In many areas of the country, Realtors are attempting to change the amount of data they have to put in MLS. In many MLS's GLA has been dropped al together. Think about it, the less they say about a house, the less for what they can be held responsible.

It is a sad trend if you ask me. I think now most are less of a real estate professional and more of a professional sales person. They know less about the homes and what creates value in the homes and more about how to close a sales in numbers with speed. I think now most of them perform their jobs as less of helping someone buy a home, but now, making sure someone buys a home. I may not be making a lot of sense, but it is clear to me as I type it!