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Home Values In Phone Directory?

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Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
A REALLY NEW TWIST!!!

This is a new one on me. I was just sitting here in the office and the person selling the “City telephone Directory” knocked on the door. This directory has addresses by street listing every house number, head of household, etc., for the entire area.
The salesman told me they have a new feature in this year’s edition: “The value of the house will be listed in the directory.” What do you think of that?
I was talking with a Realtor buddy this morning and he told me local Realtors are doing hundreds of PBO’s for a fee that are not for listings. I told him it was illegal and violated the Realtor’s code of ethics. He said: “So, what else is new?” Is any of this legal? Does any regulatory authority give a damn?
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
What's the pupose of listing the HO's opinion of value? Bloody bait for all the equity loan sharks, or just trying to set a new market??

As for the BPO's. Yeah, one of the many plagues of the system. Who are you going to call that doesn't have a deaf ear? The fact is that Realtors line the pockets very well.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Is any of this legal?

The 'value' in the phone book? It would be a huge joke if it wasn't so sick!!!
The real estate agents doing lots of BPOs for lending purposes instead? No, it's not really legal for them to do this.

Does any regulatory authority give a damn?

None that I'm aware of at this time.
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
Austin,

Are you sure you arent behind this? You have probably worked out a mathmatical formula that uses the number of letters in the street, with the house number, the 10 digit phone number that will estimate value for the property.
 

Roger

Junior Member
Joined
Jan 24, 2002
Professional Status
Certified General Appraiser
State
Missouri
Several years ago, I realized that the primary use of these "City Directories' (not phone books) was to generate a call list for home repairs, insurance, magazines, and anything else that could be marketed over the phone.

My solution was to tell the data collector that I was just renting the house, as they already had name, address, and phone #.

I would guesstimate that this one change cut the annoying telephone sales calls by at least 50%, maybe more.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I can just see it now.......Bank loan portfolio that has a page copied out of the City Directory as an appraisal for a huge loan on the property! Nice!!!
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I think you posted this one day too early.
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
Oh gods, what's next ~

The American entrepreneurial spirit in boundless.

BIND these people!

What amuses me most is this guy doing the Fuller Brush bit and actually found a homeowner HOME during the day.

NOW, the guy what calls me to try to list my home and promises to sell it for the price listed in the phone book will be politely told that 'the phone book price doesn't include my maxed-our Home Equity Loan!'

WHICH ought to tell the world, the moment the market begins to sag, I will be loading up my pickup and heading out. 'The key is hanging on the nail inside the side door.'
 

Keith

Sophomore Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Now my job will be easier! I can just look up the value in the phone book and I'm all set.

Maybe they will be kind enough to include a signature line where I can circle the value in approval, sign the page and fax it on over.
 
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