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Georgia Appraiser know how to adjust!

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Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Just heard from a Georgia LO that thinks I don't know what I'm doing. She tells me that Georgia Appraiser know how to adjust for a new garage door, surround sound installed in the living room and the back yard fencing of an 8 month old house!

House purchased 06/17/2002 for $119,900 from builder. All comps used are from December, 2002 - 2 new houses in subject project and a 2 yr old house in similar project across the street.

But.... we need at least $126,000!!!! The Georgia appraisers I use know how to do this!

Mell, Wade..... how do you do this???? :lol:
 

Randy Beigh

Senior Member
Joined
Jan 16, 2002
The Georgia appraisers I use know how to do this!

Pamela

The truth is, we all know how to do this, just most of have made the decision, based on evidence, that it is best not to do this.

Kind of doubt that Georgia appraisers are any better or worse than the rest of the country at making the numbers work. But, we all know how to abuse the numbers. How many of us have gone to the Arthur Anderson School of Numbrers Abuse?
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Pamela I'll bet we can get an opinion from a Georgia appraiser who lurks and sometimes even posts here......that guy who pays for all the bandwidth that keeps this place operating.....Wayne how about it? :)
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Wayne is a Floridian? I thought he was a transplant from Atlanta. I’ll not make any more comments about the sunshine state or its fine citizens.....I got in trouble for that last week......I do hope Wayne isn’t a native of Boca Ratan or my membership here is in serious jeopardy.......I’ll close and just say that I’m glad he isn’t a Texan. :)
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
You're safe Bobby. Wayne is not from Boca. Now, he just might be a transplant from Atlanta, but we won't hold that against him!
 

Eric Boggs

Sophomore Member
Joined
Feb 23, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Bobby,

Har Har Hardy Har Har! LOL

Eric
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Pamela,

Dont you dare compromise your beliefs and give there money back. Although you might possibly be in a dilema and have not been paid yet.

Course if you were in the tarheel state you could wave this at them:
------------------
Part I. General Laws of Banks, Savings and Loan Associations and Savings Banks.
Chapter 53. Banks.
ARTICLE 19A. Mortgage Lending Act.
§ 53-243.11. (Effective July 1, 2002) Prohibited activities.
In addition to the activities prohibited under other provisions of this Article, it shall be unlawful for any person in the course of any mortgage loan transaction:




9) To fail promptly to pay when due reasonable fees to a licensed appraiser for appraisal services that are:

a. Requested from the appraiser in writing by the mortgage broker or mortgage banker or an employee of the mortgage broker or mortgage banker; and

b. Performed by the appraiser in connection with the origination or closing of a mortgage loan for a customer or the mortgage broker or mortgage banker.

(10) To broker a mortgage loan which contains a prepayment penalty if the principal amount of the loan is one hundred fifty thousand dollars ($150,000) or less.

(11) To influence or attempt to influence through coercion, extortion, or bribery, the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan. Nothing in this subdivision shall be construed to prohibit a mortgage broker or mortgage banker from asking the appraiser to do one or more of the following:
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Refund? I don't give no stinkin refunds!!!

COD - I'm already paid. The LO just couldn't believe I didn't simply make the value estimate! I never paid any attention to it and never looked at the order again after I input the necessary info from it.

FHA streamline refi too. Case number already assigned to me or I woudn't have done it from this lender that I've never heard of before. Geeeez, garage door, speakers and a fence added over $6,000 in 8 months?!? NOT
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
new garage door, surround sound installed in the living room and the back yard fencing of an 8 month old house!
Well, at least they didn't brag about the "adorable fish pond" that looks suspiciously like, hmm... that’s about the diameter of a tractor tire. 8O :roll:

As for the the Georgia adjustments, it's about the same as an "Ocean View" home in FL..... tip toed on the second floor balcony :multi: , looking through 3 neighbors windows :scrambleup: (when the blinds are open :wink: ), 5 blocks from the beach. :turn-l:
 
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