I Know We Do Not Find Problems With Value But

[Joseph Butkus]

Did you vet these two sales close enough to determine they are arm's length and the best?
What specifics are to be zinged?
This third Comp, if it was higher was it higher than the (apparent) two comps used? Which of the four would you use? (you are implying 2 were used, 2 were not so he/she could jack up the average?) Which house (in age, SF) was the most similar, the most recent sale. Did it violate SOW to use MLS photos?

Are you not at minimum inspect comps from street at least?

 

[Terrel L. Shields]

Are you not at minimum inspect comps from street at least?

That is not a USPAP requirement. It is a secondary market requirement.

 

[J Grant]

Gotta go with @Amy Perkins here. Few complex homes can be tighter comps than 10%. Only in cookiecutterville. So are we reviewing for USPAP violations or second-guessing the opinion of someone?

Based on what? And the OA sounds like a 'cookie cutter"...we are reviewing for sound appraisal methodology, were the most similar comps used etc...not everything is about USAP and USPAP only,

MLS photos are allowed by some clients and for others, allowed with ext of closest to subject from street...for gated communities,appraiser takes photo of gate and uses MLS for subject.

An MLS photo would concern me a lot less than cherry picking a very superior sale while at same time ignoring more similar sales as comps.

 

[J Grant]

Yes we would call each other in NJ, Name Not blacked out years ago and even the one I reviewed found name of Appraiser in report. Nicer then no one would go to State and put complaints in just so you could try to get more work.

When I reviewed I never turned an appraiser in to the state. That was up to client if they choose to do that. I fulfilled my review assignment end of story.

I think you and your cplleagues did not do the profession a service with this juvenile let's go behind clients and warn etc. If any of you did a misleading review when the OA was bad to protect a colleague not cool ...(though you nailed it what is wrong with the appraisal you reviewed now).

I assume many of us have had field or desk reviews done on appraisals we did over the years and since nothing came of it we did okay....

 

[residentialguy]

When I reviewed I never turned an appraiser in to the state.

I will turn in a bad reviewer in a heart beat, though...and so would many others; something OP should understand.

 

[J Grant]

I will turn in a bad reviewer in a heart beat, though...and so would many others; something OP should understand.

What is a "bad reviewer." ,,,someone who you felt actually did a bad review ( in which case you'd have to have valid reasoning), or someone who did a review on your work and pissed you off ?

I understand it if a review is actually "bad", ( the review has areas of incompetence, or material errors). But if there is nothing wrong with the review, and the problem indeed may be in the report, or the reviewer has valid points to their review, the implied threat that appraisers will retaliate against reviewers simply for doing their job stinks . ,

Certainly a review can be reviewed as well but it should be done by a neutral party....and clients do read and scrutinize reviews.

 

[ucbruin]

What is a "bad reviewer." ,,,someone who you felt actually did a bad review ( in which case you'd have to have valid reasoning), or someone who did a review on your work and pissed you off ?

I understand it if a review is actually "bad", ( the review has areas of incompetence, or material errors). But if there is nothing wrong with the review, and the problem indeed may be in the report, or the reviewer has valid points to their review, the implied threat that appraisers will retaliate against reviewers simply for doing their job stinks . ,

Certainly a review can be reviewed as well but it should be done by a neutral party....and clients do read and scrutinize reviews.

"What is a "bad reviewer.""

I'm not sure how many of my reports have been reviewed (I can't remember more than 1-3 in the past 20 years)....
I once received a request from a client to respond to a review of one of my reports (refi)....
The reviewer, who didn't agree with my appraised value, stated that he/she searched for sales between $zzz and $YYY and found Z number of sales....
$zzz starting price was higher than my appraised value....
I responded that I don't search for sales based on sales price....
Didn't hear back....

 

[ucbruin]

Here's a weird thing....
In my last post I use 3 X's in a row and the post came out zzz....
I guess triple X is considered profane....

 

[Joseph Butkus]

What is a "bad reviewer." ,,,someone who you felt actually did a bad review ( in which case you'd have to have valid reasoning), or someone who did a review on your work and pissed you off ?

I understand it if a review is actually "bad", ( the review has areas of incompetence, or material errors). But if there is nothing wrong with the review, and the problem indeed may be in the report, or the reviewer has valid points to their review, the implied threat that appraisers will retaliate against reviewers simply for doing their job stinks . ,

Certainly a review can be reviewed as well but it should be done by a neutral party....and clients do read and scrutinize reviews.

Colorado was very disguisting like that. Right now shortage of appraisers due to everyone retaliating back and forth, trying to run appraisers out of business.

 

[Terrel L. Shields]

The reviewer, who didn't agree with my appraised value, stated that he/she searched for sales between $zzz and $YYY and found Z number of sales....
$zzz starting price was higher than my appraised value....
I responded that I don't search for sales based on sales price....

Righto

bad reviewer? Most I see are because only a newbie will accept such ridiculously low fees. I recall one where reviewer came in $2,000 below appraiser (not me). Changed a comp to one in next town made a PFA $10,000 adjustment and completely missed that it had a finished basement renting for $500 or so. That fact was on the MLS and public records both. Should have went to state.

Experienced commercial review appraisers have called me, only a couple have questions that were really significant. Two were mistaken. One apologized for his error. The other didn't.