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How the Tide Has Changed.

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David Dietz

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Member
Joined
Oct 30, 2006
Professional Status
Certified Residential Appraiser
State
Florida
Amazing how the tide has changed and now the calls have gone from you value is to low and unrealistic to your value is to high and unrealistic.

I completed an appraisal for a short sale and the homeowner who also was a real estate agent until last year emailed me and asked if I was insane and stated my ignorance killed any chance of his short sale. I was supplied with what he called "the sales I should have used" of the thirteen he provided only one is COMPARABLE! and guess what I used it in my report. The other sales, listings and pendings provided were all properties with physically issues like no kitchen, a green living pool or no pool and no updates. The subject is older however has been completely updated. I showed the pictures of the subject to my wife along with one of the sales I was told I should have used and she thought the subject looked much younger than the sale. The subject is over ten years older. Of course the email included how my appraisal has caused undue hardship on his family and the lien holder, and I should retract my appraisal ASAP! The owner has six....count them six properties with Lis Pendens filed against them by I caused his hardship. I guarantee if I used the sales that the HMO provided in the appraisal for a cash out refi the HMO would be singing a tone of these homes are not comparable.

First I am typically labeled by my peers and real estate agents as Conservative, I like to call myself realistic. Well the days of bellyaching about people complaining about low values has changes into cries of high values. :fiddle:

END OF RANT :new_all_coholic:
 

Proactive

Senior Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Washington
Ah yes, the "conservative" label. It used to be the kiss of death.

Nice boat.:)
 

Michigan CG

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Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
I was supplied with what he called "the sales I should have used" of the thirteen he provided only one is COMPARABLE! and guess what I used it in my report. The other sales, listings and pendings provided were all properties with physically issues like no kitchen, a green living pool or no pool and no updates. The subject is older however has been completely updated. I showed the pictures of the subject to my wife along with one of the sales I was told I should have used and she thought the subject looked much younger than the sale. The subject is over ten years older. Of course the email included how my appraisal has caused undue hardship on his family and the lien holder, and I should retract my appraisal ASAP! The owner has six....

You have it in writing....send it to the Realtor's ethics committee.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
You have it in writing....send it to the Realtor's ethics committee.
amen. not that they won't join ranks and dis you, too...it would be on record.
 

David Dietz

Thread Starter
Member
Joined
Oct 30, 2006
Professional Status
Certified Residential Appraiser
State
Florida
who also was a real estate agent until last year

Not sure it matters since the agent longer has an active license and is going into foreclosure on all the properties in this individuals name. I am keeping it for if and when the complaint is filed with the state. I am not responding to the email since the sender is not the client either. I do believe a complaint will be filed and if it is I will hopefully have enough evidence to prove malice and file a lawsuit with the emails I have. As for even talking about this here, just in case an associate of the HMO frequents here maybe word will get back that I am prepared for what ever comes of this. I do not believe the HMO will just let this lie. I hope I am wrong on this but I am usually a good judge of character.
 
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Frederick

Senior Member
Joined
Nov 2, 2005
Professional Status
Certified General Appraiser
State
New Jersey
I know the feeling. I ran into a lady in the Mall who gave me a tongue lashing about her short sale.
 
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Montana
Almost Comical

The homeowners are now so helpful during inspections showing off those cracks in the foundation, the bad roof and all the stuff wrong with the house. No more throw rugs over the worn spots in the living room carpet. My, they aren't even burning apple pie scented candles anymore. I can hardly keep up with the notes. :rof:

One homeowner last week was quick to tell me that there was sediment in the well and he had to change the filiter every week. His wife wanted be to make sure I noticed that the line to septic lift pump wasn't working and there was an extension cord running across the yard.
 

NC Appraising

Senior Member
Joined
Apr 28, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Hang in their Dave, and keep doing whats right. It will pay off in the long run (the very long run, if you know what I mean:blush: ).
 
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