Data Cancer Due to Waivers

[shrubberyvaluation]

The $/psf is a general, macro approach or analysis. Once you drill down into the minutia is becomes less credible. No one is suggesting otherwise. That said, and I can't stress this enough, if it has absolutely no merit, then why goes the general public, realtors, etc., continue to embrace it as their first line of layman valuations?

Because of the simplicity.

 

[shrubberyvaluation]

The general public does not embrace it; they don't know any better.

RE agents are like used car salespeople, only worse -they use a misleading metric of total price divided by SF to get prices up and induce a high offer.

RE agents don't perform credible valuations nor do they need to = the make CMA's and presentations to support a price or get a listing. They are not valuators; they are salespeople.

For the most part yes. I have seen a handful of good CMAs, but most of them are worthless except for sales purposes, some arn't even good for that. The worst I was given by an agent had sales from $200,000 - $3,000,000 for a property under contract around $500,000.

 

[George Hatch]

LOL

Yeah, I don't have to wonder where he got his me-too "shill" talking point from.
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Just out of curiosity, do you happen to know if his property is anywhere on that map at all? Or are you just taking his word for it? Because to the best of my (admittedly limited) knowledge it isn't. If he owns something on that map then I sure didn't see it.

If his property isn't on that map then that makes his "doxxing" claim just as factually untrue as your "shill" allegation.

 

[Zoe]

Which is why those appraisers who live in a false world of moral superiority and brag about calling every Realtor to get information that they didn't put in the MLS to begin with never ceases to amaze me. Realtors are commission compensated, always looking for the neighbor's listing as well. Do you really think they're going to divulge certain information just because an appraiser calls them? As far as I'm concerned, Realtors are not true independent verification sources. Admittedly, an outlier comp often has a reason that the Realtor might disclose, but not always. And in this day and age of litigation, I wouldn't risk telling an appraiser any other information that isn't already in the MLS.

That is where tidewater with VA helps on the front end. Tidewater only works on sales transactions. There is no tidewater on refinance transactions for veterans.

ROV is only option on refinance. ROV is still option on tidewater, but it rarely happens.

How often ROV happens on tidewater is like a white rhino. That may not be good example. ROV very rarely happens on tidewater with agents involved.

NAR does not want in that mix. They are very biased party. They get in it deep, but they don't want the liability on market value falling on them.

 

[Zoe]

Okay, let me boil it down. NAR makes money selling properties. One of the biggest residential brokers in the USA is headquartered in Memphis, TN. Crye-Leike.

https://www.crye-leike.com/

 

[Zoe]

Evidently a waiver don't have the same fears as NAR. I can speculate and say bailout and other similar motivations to NAR might be the reasons waivers are on the upswing.

None the less, NAR don't like waivers.

Like Elon trying to buck employee unions. Good luck Elon. If you make it a year Elon, you will have reached a milestone.

 

[Joyce Potts]

The $/psf is a general, macro approach or analysis. Once you drill down into the minutia is becomes less credible. No one is suggesting otherwise. That said, and I can't stress this enough, if it has absolutely no merit, then why goes the general public, realtors, etc., continue to embrace it as their first line of layman valuat

Because of the simplicity.

The simplicity is a given. The point is, if that's the way the MARKET works, why dismiss it entirely?

 

[Zoe]

The simplicity is a given. The point is, if that's the way the MARKET works, why dismiss it entirely?

Too many variables. There is no other product in the world similar to the uniqueness of an individual subject property of real property.

That is why we focus on real property rights for public trust.

 

[Zoe]

The more heterogeneous the real property market is,

the more waivers will fail. That is where the puppy will bite GSE, AMC, Lender, real estate agent.

As a professional appraiser, you are a totally unbiased party. An appraiser appraises real property rights. There is no bias.

 

[Zoe]

GSE...AMC...Lender....,Real estate agent ALL are legally biased.

A professional real estate appraiser is not legally biased.

When you just focus on real property rights, the clouds disappear.