HGTV What's It Worth--What A Joke

[Claude From NY]

Really is a joke

I dig the high drama they create when the agent goes into appraisal mode and their eyes start bulging out and smoke starts coming out of their ears. The HO usually has the look of a deer caught in headlights until the great proclamation comes down.......you have made $$$$$ on your house. You bought it for $250,000 and I would list it for $600,000. Yippeee!

 

[TEL2002]

I hate the shows because of their amateur drama. Will we get it done on time? What will it list for? Will the buyers like the changes? yada yada yada.

 

[Joker]

I get my comps from these shows. I take a screen shot of the house, use the expert's list price and then make up an address that sounds like it's somewhere in my market. It really helps hit the needed appraisal value on the subject property.



(check out my moniker)

 

[DianaOKC]

some of those shows are now starting to show a line at the end "Jack's home is still on the market after 6 weeks but he's already on to the next flip!"

 

[timd354]

Of course we appraisers are wrong. Everyone else is right. Almost everyone we see, is bombarded with information from sales people who will earn commission on that sale, or from the TV who makes more money if they have higher ratings on those "RETARDED" shows. You don't really expect a Hyundai salesman to tell you the car you're buying is a cheaper product than Toyota and that in the long run you will see a greater depreciation rate?

The sooner our clients clients understand that we are there simply to report what is happening in the marketplace, and that our "commission" is a minor percentage in comparison to what they're mortgage broker and realtor are saying, maybe then they'll believe us.

I had a guy tell me "How can you only give me $20,000 for a pool. I just spent $60,000 and the guy told me its worth $100,000?" What do you tell that moron, that it's an overimprovement for the area? That a 1,500 sq ft house in Cape Coral built in 1982 doesn't need marble floors and an olympic size pool? Of course I told him the truth, but in doing so guess what, I didn't know what I was talking about and he'd be calling another appraiser.

I was glad it was out of my hands.

Too bad that guy was not in many of my market areas, where a pool adds exactly $0 to the market value of a house in many, if not most cases....I bet that he would have loved that!!!

 

[Thomas Fiehler]

Joker-I'm confused. I know your market area but I have never seen a single/double wide on any of those shows!

 

[TEL2002]

Zing went the strings of Fiehler post.

Good one. I've always enjoyed good zingers either outbound or inbound.:Eyecrazy:

 

[Thomas Fiehler]

TEL-Thank you. I believe I will now take tomorrow off and hit the links!

 

[Joker]

That's the point, Fiehler. How else can you make a double wide worth over $100k?

 

[WallyII]

I also love to hate these shows.

Watched one yesterday called "Flipping Out". The flipper was irate that his stupid bank's appraiser valued his property at $1.2m, well under his listing price. "It's like reverse fraud" he says. Fast forward to the end of the show......house sells for $1.25m. Who's the stupid one now?