Drivebys

[Meandering]

Credibility is from the eyes of the intended users.

If the GSEs are the intended users, and they have decided that no matter what is pre-printed on out dated forms, that they need other information beyond a drive by, then, it is just that.

It's not really relevant what other appraisers believe or not. Your peers don't count if the intended users don't find the report credible.


.

 

[DTB]

Crickets.


He's already stated that a mere driveby with no other documentation is not enough on which to base a reasonable extraordinary assumption as to the interior condition and quality. That was the primary basis of my original post. It's contrary to what most appraisers typically believe and have posted on this thread. He's reading this. Let him opine again.

Better yet, have him cite support for his opining

 

[Dublin ohio]

If it were only that easy. It continues to be an interpretation. Go back and read #2 of the certification and tell me exactly what that means, especially in light of Danny Wiley's comments that the appraiser is required to have MORE information than a mere driveby, visual of the front from the street.

Yes it is up to some interpretation. But imho taken within the context of the scope of work statement. That interpretation is somewhat limited. For instance. Would you rely on county records only for your comparable data. I would assume not. So why would you rely on that same data for the subject. County records around here are not very reliable for anything more than basic physical characteristics. Sometime that is even questionable. Bedroom and bath counts can include finished basement area, But is no delineated within the records. So I guess it would depend on your definition or reliable or dependable. How Clintonian

 

[Joyce Potts]

Clintonian.

 

[Terrel L. Shields]

Well.... I am going to say if outside of the GSEs and FHA/VA, the lack of data can be caveated away if you are a wordsmith extraordinaire. It's doable.

BUT if the GSEs are involved - I would think you still have to "do" what THEY require. AND, if you used a 2055...then you are supposed to have some source of info, even if it means knocking on the door and asking the occupant....I did exactly 1 2055 with my assistant many moon ago, and I hated it.. There wasn't much on line in those days here. So I never did another one because we cut the fee yet did more work than a 1004.

 

[Joyce Potts]

Well.... I am going to say if outside of the GSEs and FHA/VA, the lack of data can be caveated away if you are a wordsmith extraordinaire. It's doable.

BUT if the GSEs are involved - I would think you still have to "do" what THEY require. AND, if you used a 2055...then you are supposed to have some source of info, even if it means knocking on the door and asking the occupant....I did exactly 1 2055 with my assistant many moon ago, and I hated it.. There wasn't much on line in those days here. So I never did another one because we cut the fee yet did more work than a 1004.

Fair enough.

 

[Zoe]

I did a couple or so when covid first got going. I measured outside and got in garage or inside storage areas if I could. I got homeowner to send me interior pics. I got client to send me prior appraisal sketch if I could. I was not vaccinated then. I don't do them anymore. I really see nothing wrong with calling somebody like a GSE or FHA or VA and asking for copy of prior sketch if they have one. I still want interior pics though. I think a time or two I got homeowner to send me sketch of prior appraisal. Of course I explained it all in the 2055.

It would shock you how far off our tax assessor can be sometimes on physical sketch. I understand that. They have likely never been inside property.

 

[Dublin ohio]

I did a couple or so when covid first got going. I measured outside and got in garage or inside storage areas if I could. I got homeowner to send me interior pics. I got client to send me prior appraisal sketch if I could. I was not vaccinated then. I don't do them anymore. I really see nothing wrong with calling somebody like a GSE or FHA or VA and asking for copy of prior sketch if they have one. I still want interior pics though. I think a time or two I got homeowner to send me sketch of prior appraisal. Of course I explained it all in the 2055.

But that was under special covid certification correct?

 

[Zoe]

But that was under special covid certification correct?

That's right. I still have disclosures in reports on covid doing 1004's with full interior and exterior inspection. It's right after my H&B use summary.

"This appraisal was performed following public awareness that COVID-19 was
affecting residents in the United States. At the time of the appraisal, COVID-19
was beginning to have widespread health and economic impacts. The effects of
COVID-19 on the real estate market in the area of the subject property were not
yet measurable based on reliable data. The analyses and value opinion in this
appraisal are based on the data available to the appraiser at the time of the
assignment and apply only as of the effective date indicated. No analyses or
opinions contained in this appraisal should be construed as predictions of future
market conditions or value. "

I probably need to alter that language a little on the 1004. My 2055 language is different. I need to take the "beginning" part out. Instead of "beginning", I think I will re word it to "is having"

That will be better when these moratoriums are lifted. I probably need to change "was" to "is" in the first statement.

 

[Bob Ipock]

Today the appraiser can get interior photos provided by borrower-or other party and do a exterior and we know hundreds of thousands of those have already been done under Covid-19 . As FAR AS how many do them with no interior photos or MLS ?? --Thousands but nobody is ever going to admit it and frankly its not a big issue when-most homes go into default the owners tear them up and trash them anyway so that C-3 goes quickly down to a Low C-4 or a C-5 : LMAO

Never

Never. Meaningless piece of work that no self-respecting appraiser would do. Would you buy a used car with out opening the hood & trunk and then be denied observation of the inside? Go for it folks you can have my share.