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I can't believe it.

djd09

Thread Starter
Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
it is a good stretch job. they teach them well over at AI.
 

Bert Craytor

Senior Member
Gold Supporting Member
Joined
Jun 27, 2017
Professional Status
Certified General Appraiser
State
California
Making an adjustment based upon your experience and not direct data as proof is like going to the bathroom and not washing your hands; everyone denies doing it but everybody does.

I don’t know if that is true. Someone told me that.
Between experience and direct data, is inference and logic. But that route requires intelligence.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
In Fannieworld, you should pretend it is not there...if you don't want to hear the UWs howl for a week.
If it ever happens I'll post it in the clients, good bad and fannie.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
If it ever happens
I appraised a small house in a small FHA subdivision from the 1970s. They were all 3 bed, 1 bath with a carport, left hand or right hand. There were several sales all within a couple thousand dollars of each other (well under $100k) and I made zero adjustments because they were all...3 bed, 1 bath with a carport...and yes, I got a call from the reviewer..."Why didn't you make any adjustments?" The spread was about $2,000 between the high and low. None had been updated although a few of the houses in that subdivision had had the carport enclosed to an additional room, so what was to be adjusted?
 

Mark K

Senior Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
I'll never forget the words of a very well respected appraiser and reviewer (a reviewer so good that, looking back, I consider him more of a mentor)….

"If you don't have good comps, just tell me a good story."

A few lines of explanation can go a long way.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
I quit making adjustments a few years ago on certain items like fireplaces because in my area almost nobody uses their fireplace, except when they get teary eyed watching its a White Christmas and then its a gas log because they dont want to have to clean the mess up. Anyway on reviews the average appraiser around here seems to use $1,000 bucks for fireplaces and one uses $500.00. I don't care but every once in a while just to jerk their lariout I will ask how they extracted the adjustment ? You would be surprised at some of the responses I have received over the years. Most will simply say to keep consistency, others will actually try and explain some weird method they use but the best ones are the ones who E-Mail with a big go F-YOURSELF . I don't know I just can't seem to extract a $500 adjustment on houses that sell on average for $500,000--but maybe if I used a system like Bert uses like "MARS" I could manage to extract those pesky adjustments clear down to the last $100 bucks. BERT if you see this please tell me how you would do it : )
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
How about a screen shot of the grid (redacted).
not gonna happen or we would see this is all just BS.

the sales ranged from 292,000 to 314,000 with an estimated value of 330,000.
Are those the adjusted or unadjusted sales range?
don't hold your breath, you won't get a response. see the above.

All whatever this is depends on paraphrasing, which may mean something critical is getting lost in service of a point, which itself may have dropped its compass somewhere.
that's a safe bet to make given the source and lack of anything supporting the claim.
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
just got sent an appraisal that was completed by a MAI.

he stated and just paraphrasing that "some adjustments were made even though there is no market data"

and i agree with him.

:rof: :rof: :rof:

Somebody needs to get him a copy of "The Big Book of Adjustments". It's never been updated, still $25.00/sq.ft. GLA adjustment.
 

ucbruin

Elite Member
Joined
Mar 11, 2014
Professional Status
Certified Residential Appraiser
State
Massachusetts
After reading posts from rural whiners.... :peace:

The book is now known as "The Book of Experience"....
 
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