Charlotte Dixon
Senior Member
- Joined
- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Delaware
It's funny how for months on end, things go smoothly regarding no underwriter questions. Do you all find that? Then, all of a sudden, I have underwriter questions today that really tic me off!
Subject has no fence, Comps 1, 2 and 3 have a fence. I made no across the board adjustment for the darn fences. First of all, I don't make little $500 adjustments for a little old fence (these were all pretty lame fences). I for one, don't think that fence box should even be on the URAR. I had not one comp with no fence to extract that market adjustment...thus, no adjustments were made. Underwriter said "You should have made an adjustment".....Moral of that story: Don't put fence for anything....just put N/A.
Then: Subject is 20 yrs. old (effective 10 yrs.) Comp 1 is 12 yrs. old; Comp 2 is 14 yrs. old Comp 3 is 8 yrs. old. Underwriter said: "You should have made an age adjustment".....Why? I thought! Here's the answer: The underwriter is a nitwit. She also asked why when comparing the subject to the comps (I QUICKLY POINTED OUT THAT YOU COMPARE THE COMP TO THE SUBJECT) etc. etc. Then she asked why I chose 2 story comps when the subject was a one story. I pointed out that the subject was a cape COD, not a one story. Comp 1 was a cape COD, and comps 2 and 3 were 2 stories, the best available, same in sq.ft.living area, each with no basement, each with a 1 car garage, each with a patio, current sales, and in the neighborhood.
This was a text book appraisal....No unfounded across the board adjustments were made. No adjustments were made unless the matched pairs indicated an adjustment was necessary. Bing, Bing, Bing......all sales adjusted out evenly. Geeezzz..... :x
Subject has no fence, Comps 1, 2 and 3 have a fence. I made no across the board adjustment for the darn fences. First of all, I don't make little $500 adjustments for a little old fence (these were all pretty lame fences). I for one, don't think that fence box should even be on the URAR. I had not one comp with no fence to extract that market adjustment...thus, no adjustments were made. Underwriter said "You should have made an adjustment".....Moral of that story: Don't put fence for anything....just put N/A.
Then: Subject is 20 yrs. old (effective 10 yrs.) Comp 1 is 12 yrs. old; Comp 2 is 14 yrs. old Comp 3 is 8 yrs. old. Underwriter said: "You should have made an age adjustment".....Why? I thought! Here's the answer: The underwriter is a nitwit. She also asked why when comparing the subject to the comps (I QUICKLY POINTED OUT THAT YOU COMPARE THE COMP TO THE SUBJECT) etc. etc. Then she asked why I chose 2 story comps when the subject was a one story. I pointed out that the subject was a cape COD, not a one story. Comp 1 was a cape COD, and comps 2 and 3 were 2 stories, the best available, same in sq.ft.living area, each with no basement, each with a 1 car garage, each with a patio, current sales, and in the neighborhood.
This was a text book appraisal....No unfounded across the board adjustments were made. No adjustments were made unless the matched pairs indicated an adjustment was necessary. Bing, Bing, Bing......all sales adjusted out evenly. Geeezzz..... :x
