• 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.

Cookie Cutter Alert !!!!

Status
Not open for further replies.

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
A Cookie Cutter….I finally got another one.

A detached ½ log sided condo in a ski/golf resort. I did the sale on it a year and a half ago and now its refi time.

Three identical sales of brand new units, 2 doors, 4 doors and 5 doors away for $150k, $150K and $152K. Only adjustment is minor for new vs. lived in.

It was so simple that when Judy and I finished, it seemed like we had forgotten something.

Oh for the life of a Cookie Cutter appraiser.
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
Richard,

Since it was so easy, you will be refunding half your fee?
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
Absolutely…....just as soon as they agree to eliminate my liability.
 

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
Absolutely…....just as soon as they agree to eliminate my liability.

If they look at those 3 textbook sales, they just might. Don't give them any ideas!
 

Verne Hebert

Senior Member
Joined
Feb 25, 2002
Professional Status
Certified General Appraiser
State
Montana
If you get any more please call.

I'll fly in and, at least, ride along.

Sweet Jesus. Calls for a pizza and a pitcher (after 5).
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Richard,
Yeah, it does sound too easy. If I were the underwriter
I'd want a 4th and 5th comp that didn't have the
log feature. And if any feature wasn't bracketed,
well, I'll need an explanation about that.
No good deed goes unpunished.

elliott
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
May you remain like a worm in an onion, thinking that there IS no sweeter place in the world, than your neat and insulated little layers...

~~~

Can I come in too?

My world has consisted of mishapen potatoes, rotten cabbage and other such nasties lately,

But I ain't BORED! :p
 

Claudia Cullen

Sophomore Member
Joined
Dec 18, 2002
Professional Status
Licensed Appraiser
State
Massachusetts
Richard, the cookie cutter appraisal must be payment from above for those inspections done lately in temps. below 20!
 

Dave Smith

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
Richard:
It was so simple that when Judy and I finished, it seemed like we had forgotten something.
Maybe you did... forget something, that is.

How about the requirement for at least one comp from a competing project?
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Was thinking the same thing, Dave. What is the best possible comparable?

Exact same model next door that sold yestersday! So what do they do???? Complicate the matter by making a ridiculous requirement for a competing complex. God forbid you use three identical models...too simple. You wouldn't have to adjust for location if you did that and we all know how import that is.

Forget the fact there might not even be a competing complex in the same community. Forget the fact the market is the market...but remember, you need to follow some asinine requirement.

 
Status
Not open for further replies.
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