I live in Arizona, but just completed a review of an SRA's appraisal in Florida

[Ken B]

Because it is an REO sale selling "as is" and the bank won't fix anything - or so the appraiser is told. So he takes money off. Either way, a qualified expert would have to inspect for FHA and the HVAC system would have to be working properly.

I'm glad SOMEBODY was paying attention.

 

[Couch Potato]

I'm glad SOMEBODY was paying attention.

I wish everybody did. Then they would have noticed the subject is not referred to as an REO, just some of the sales used and the local market. :new_all_coholic:

 

[The Sheriff]

Learned a couple things from this thread...

Don't generalize about certain markets. My market is not your market even though both markets are bottom feeders right now.

Some SRA's in Florida suck just as much as some SRA's in Arizona.

There are some people on here that really do care about the industry (my feeling of having my back against the wall is no longer an individual feeling... other people really do want to promote our profession no matter how far we still have to go).

South Florida will batter the egos of many University of Florida alum on 9/11/2010 and their quarterback John Brantley will have a better chance of getting a lap dance at the hospital from a nurse that night than a lap dance from a UF coed that works at Cafe Risque.

Don't hate on all the old timers... one or two of them still have a trick up their sleeve that I can learn from.

 

[Mztk1]

I wish everybody did. Then they would have noticed the subject is not referred to as an REO, just some of the sales used and the local market. :new_all_coholic:

I cheated. The subject property is in my local market area, so I looked it up in the MLS.

 

[Ken B]

Page 1 of the URAR also reports the owner as a bank. One does not need to be Sherlock Holmes.

 

[Mztk1]

Page 1 of the URAR also reports the owner as a bank. One does not need to be Sherlock Holmes.

Yeah, saw that too. It was actually the first tip off. But I was able to verify.

 

[ElvisMiami]

Question: What is the difference between an appraisal review completed by someone in India/Bangladesh and an Arizona appraiser doing a review of a Florida appraisal?

Nothing, both have no clue as to the local market, have no access to MLS data, not familiar with neighborhood, grid adjustments, etc. Both lack knowledge and expertise to comply with the competency rule.

I second that comment. We all get requests from friends and relatives in other states asking for our professional advice on real estate transactions. I believe the best advice is to refer our friends and relatives to a local experienced appraiser. Our professional advice should be limited to how to select a local appraiser. All real estate markets are local.

 

[The Sheriff]

I disagree... The appraiser who completed this report in this instance has a designation, 15+ more years of experience, yadda, yadda, yadda. Based on those facts alone, I would have recommended the appraiser to my friend. After reading the report though, I would have felt extremely guilty for many years after if my buddy got burned on the house (if he had overpaid). Every appraiser should be able to look at another individual's work and determine if the report is fluid (non-value contingent).

 

[Michael Tipton]

Learned a couple things from this thread...

Don't generalize about certain markets. My market is not your market even though both markets are bottom feeders right now.

Some SRA's in Florida suck just as much as some SRA's in Arizona.

There are some people on here that really do care about the industry (my feeling of having my back against the wall is no longer an individual feeling... other people really do want to promote our profession no matter how far we still have to go).

South Florida will batter the egos of many University of Florida alum on 9/11/2010 and their quarterback John Brantley will have a better chance of getting a lap dance at the hospital from a nurse that night than a lap dance from a UF coed that works at Cafe Risque.

Don't hate on all the old timers... one or two of them still have a trick up their sleeve that I can learn from.

UF 38 USF 14. 'nuff said.