How Comp Adjustments May Be Distorting Appraisals - Corelogic

[Evincere]

"Appraiser MUST include TWO active or pending comparables in each report".

Says Corelogic?

 

[jay trotta]

Says Corelogic?

hasn't that been around since 2010 ?? Some Lenders indicated it noted a ceiling in the market............

 

[Evincere]

"Appraiser MUST include TWO active or pending comparables in each report".

Says Corelogic?

hasn't that been around since 2010 ?? Some Lenders indicated it noted a ceiling in the market............

I have Lenders who do not require 2 listings or pending and if I do include them its at my discretion. I have clients who require 1 listing NOT 2. Requiring 2 listings is but a hold over from the last bubble. The listings shouldn't be used to represent a ceiling, imo, they could/should be used to properly represent substitute properties most comparable to the Subject but for whatever reasons did not satisfy the particular needs or likes of a buyer in Subjects market.