Do you perform Field or Desk Reviews?

[The Warrior Monk]

I've been told that by a client of mine in Nassau County. They were wondering why it was taking me so long to complete a report that required a rent schedule.
I told them I was waiting on info from the property mgr/landlord to verify the rent(s)
They said "Just make it up! That's what the guys do around here"

I was doing a lot of reviews circa 2005-2006, through Suffolk, but mostly on the east end. It was obviously that some never reviewed any listing, or even saw the house. For example, some properties couldn't be seen from the road, so the appraiser just took a picture of the woods or a driveway. I'd just take a drive up the driveway. Turns out instead of the comp being a ranch with no garage, it'd be a two-story traditional residence with an obvious attached garage. Some of the appraisers were coming from areas on the opposite side of NYC, such as Westchester.

 

[gotnoworrys]

I was doing a lot of reviews circa 2005-2006, through Suffolk, but mostly on the east end. It was obviously that some never reviewed any listing, or even saw the house. For example, some properties couldn't be seen from the road, so the appraiser just took a picture of the woods or a driveway. I'd just take a drive up the driveway. Turns out instead of the comp being a ranch with no garage, it'd be a two-story traditional residence with an obvious attached garage. Some of the appraisers were coming from areas on the opposite side of NYC, such as Westchester.

In the south, people have signs posted that they will shoot trespassers. Lots of signs,. Graphic signs. They mean it! I will not trespass to get a comp picture. With that said, I recently had the opportunity to view an appraisal with rents that were not available via the regular sources. The forms imply we will have all the data. Fact is, it isn't always available. So I do concur, data is sometimes made up to satisfy the report form, especially for rentals.

 

[gotnoworrys]

For those of you who perform review work or are just curious about them

Reviews are worth doing as they allow me to see the quality of the work being preformed in my area. Some are poor but the very good ones are a learning opportunity. We all need to keep learning... IMHO. Fees are the same as for a full. The level of work is about the same...

 

[shrubberyvaluation]

I was doing a lot of reviews circa 2005-2006, through Suffolk, but mostly on the east end. It was obviously that some never reviewed any listing, or even saw the house. For example, some properties couldn't be seen from the road, so the appraiser just took a picture of the woods or a driveway. I'd just take a drive up the driveway. Turns out instead of the comp being a ranch with no garage, it'd be a two-story traditional residence with an obvious attached garage. Some of the appraisers were coming from areas on the opposite side of NYC, such as Westchester.

Only time I will go up a driveway is if there is a realtor sign outside.

 

[The Warrior Monk]

In the south, people have signs posted that they will shoot trespassers. Lots of signs,. Graphic signs. They mean it! I will not trespass to get a comp picture. With that said, I recently had the opportunity to view an appraisal with rents that were not available via the regular sources. The forms imply we will have all the data. Fact is, it isn't always available. So I do concur, data is sometimes made up to satisfy the report form, especially for rentals.

Every area is different. Fifteen years ago, we were dealing with a mainly second-home market with no posted signs and no security cameras. I would also go knock on their door before proceeding. Few people were around for most of the year. We also had a shortage of readily available information on the sales.

Nowadays, most of the data can be assembled through multiple sources, photos are available, etc. Combine that with all of the security cameras, and that fact the many more people are living in the area I work, and I don't bother driving up driveways anymore. I still drive by the properties, though, because knockdowns or gut renos are an issue.

 

[TC]

Who reviews the reviewers?

 

[Non Sequitur]

No Fields did them for years but almost always only ordered when there are numerous quality and value issues
and often twice the work.

Yep, double the work at half or less a reasonable fee.

 

[sputnam]

Who reviews the reviewers?

Sometimes, I do. As for review fees, I don't do them for less. If someone else wants to, that's their choice.

 

[J Grant]

Who reviews the reviewers?

I assume the regional or area appraisal manager for the lender that orders the review.

Though some are ordered for a % mandated as QC, most reports needing a field review have been pre flagged as a problem - well who flagged it ? Either an UW or desk review or CU or an agency found something worth looking at , and at some point an appraiser hired by , or the regional appraiser manager for a bank is made aware of this report might be a POS, so after it is reviewed, one assumes that same party or department would be reading the review and evaluating it as well.

 

[Tom D]

my dislike of reviews is that i am more liable for the value than the original appraiser. if i was disagreeing with the value i had better be very accurate about my choices and decisions.
in several reviews of my work, no value issues, i picked apart the reviewer's comments. sorta reviewed the reviewer. i don't mind a difference, but please don't be such a perfectionist on why you are right. easy for me to show how wrong you are. never got a comment back after i answered any review. only a couple times in my old aged appraisal life.
oh so long ago when USPAP started the reviewer used the word 'misleading' on every thing he didn't like. seemed like i wrote a fraudulent report, unfortunately for the reviewer i was able to point out all the mistakes he made. sorta turned around the pointing finger of misleading. actually felt very satisfied to kill someone so stupid.