Guess I need to turn this one in!

[mp2277]

Well, since we are splitting hairs, I just got in from doing the field work on two assignments. One is a 1000 sf ranch plain jane 3 beds, 1.5 baths unfinished basement, selling for 125000. The other is a refi, 2 story 2800 sf, 4 beds, bonus room, 3.5 baths wonderfull finished basement. Comps in the area will range from 375 to 425 (no I did not do the infamous 'value check', I've worked the area before.) So, in the light of the recent continuing ed I just got from your post, since both jobs are in the same general area, probably 2 miles as the crow flies, I think I'll just use the same comps for both and make the proper market adjustments. If nothing else, I will get revenge on some underwriter somewhere. Have a good weekend! LOL

 

[Mystery man3]

The OREA

The OREA has no MLS access but has public records.

Just send them the MLS sheets for the better sales and active listings. Also you can leave your name off the complaint if you want to stay anonymous. Don't know if they will care or not about it.

Good luck

 

[MBPAPP]

Question, I am a newly licensed appraiser, and with the real estate market going crazy I have a question. If a particular area that an appraiser covers has a high rate of foreclosures, many of which are listed and sold from MLS listings.... can these be used as reliable comparables if there is nothing else to compare to? When does the foreclosure value in the area become market value????

Sorry, for a newbie just want to be able to get information straight.


Thanks

 

[AnonApprsr]

You should be able to tell. Are REOs selling for that much less than "regular" sales?