Income Property Review

[Dublin ohio]

EVERY market is different, I'm not familiar with the Arizona market, but I know how the Austin area where I work reacts to Duplex and 4-plex properties, the market reaction is for bedroom counts on sales and rentals, parking amenties like garages and caports are also very important in my market, the size of most Duplex and 4-plex properties in the Austin market is not really a factor, it's mainly Bedroom, Bath count and parking.

Similar in my markets. Whatever creates the income. Site has limited impact beyond what is used for parking as it is just an additional expense to maintain. A few "upscale" neighborhoods also react to quality. It' all about the income

 

[Terrel L. Shields]

that's NOT part of my Scope of Work,

And if you claim it was "unavailable during the course of business" and it turns out it WAS???? Then tell that to the board... "Oh the client gave me the info but I ignored it." Sure. Go ahead.

This has to be one of the MOST absurd comments I have seen on AF

You need to get out more then.

So, you studiously considered the MLS as 'data' but not a prior appraisal? Even with a 2055 and the appraisal being the only source of interior description? I mean when doing the OREs in the 2008-11 period, we often had clients with appraisals but no MLS data. And we had no access to the property with a hostile occupant in pre-foreclosure.

 

[George Hatch]

IMO if an appraiser thinks accepting and considering data provided by others threatens either their impartiality or their credibility then this might not be the right business for them.

We commonly tell our own clients "no" if/when required. Compared to them these 3rd parties are of even less influence on our conduct.

 

[Cob]

And if you claim it was "unavailable during the course of business" and it turns out it WAS???? Then tell that to the board... "Oh the client gave me the info but I ignored it." Sure. Go ahead.


You need to get out more then.

So, you studiously considered the MLS as 'data' but not a prior appraisal? Even with a 2055 and the appraisal being the only source of interior description? I mean when doing the OREs in the 2008-11 period, we often had clients with appraisals but no MLS data. And we had no access to the property with a hostile occupant in pre-foreclosure.

****So, you studiously considered the MLS as 'data' but not a prior appraisal? ****

You have no idea what I do and do not do, again, another absurd comment, you don't know me, you've never spoken to me, you have no idea what I consider and don't consider as data.




I have seen TONS of your posts on AF and you have replied to me several times, I'm trying to be as nice as I can here, but I've told you several times on here, you do WHATEVER you want to do, but you seem to be the kind of person that does what they want to do and then lecture others how your way of doing things is the best way to do things.

Again, it's MY OPINION that when I am engaged by a client to complete an appraisal on a property, that's EXACTLY what I do, if they are concerned about another appraisal report completed on the same property, then they can contact the appraiser who completed the appraisal report to answer any questions or concerns, if you want to get involved in looking over someone else's report, that's 100% your right, but you don't need to come on here and lecture me about how I should do it as well, I don't tell ANYONE how they should run their business or what they should and should't do.

And I'm not talking about completing a 2055 or a foreclosure appraisal, I am ONLY talking getting a normal appraisal assignment and having another appraisal report given to me unsolicited, again, you do WHATEVER you want in the course of your business and I'll do what I want, as neither of us answers to the other, have a great day.

 

[ZZGAMAZZ]

****So, you studiously considered the MLS as 'data' but not a prior appraisal? ****

You have no idea what I do and do not do, again, another absurd comment, you don't know me, you've never spoken to me, you have no idea what I consider and don't consider as data.




I have seen TONS of your posts on AF and you have replied to me several times, I'm trying to be as nice as I can here, but I've told you several times on here, you do WHATEVER you want to do, but you seem to be the kind of person that does what they want to do and then lecture others how your way of doing things is the best way to do things.

Again, it's MY OPINION that when I am engaged by a client to complete an appraisal on a property, that's EXACTLY what I do, if they are concerned about another appraisal report completed on the same property, then they can contact the appraiser who completed the appraisal report to answer any questions or concerns, if you want to get involved in looking over someone else's report, that's 100% your right, but you don't need to come on here and lecture me about how I should do it as well, I don't tell ANYONE how they should run their business or what they should and should't do.

And I'm not talking about completing a 2055 or a foreclosure appraisal, I am ONLY talking getting a normal appraisal assignment and having another appraisal report given to me unsolicited, again, you do WHATEVER you want in the course of your business and I'll do what I want, as neither of us answers to the other, have a great day.

Curious: the form report includes "prior appraisal report" as a source of presumably credible data. Does it imply the appraiser's prior report, or a prior report by any licensed peer?

 

[Terrel L. Shields]

the form report includes "prior appraisal report" as a source of presumably credible data.

Exactly.

 

[Cob]

Curious: the form report includes "prior appraisal report" as a source of presumably credible data. Does it imply the appraiser's prior report, or a prior report by any licensed peer?

To me, it means MY prior appraisal report, but again, EVERYONE does things how they want, you can interpret it however you want to, there seems to be a misunderstanding on here about what I am stating, if I am completing an appraisal like a 2055 or a foreclosure and my clent provides my with a previous appraisal that someone else completed, then by all means, I will view it.

What I am talking about is a client engaging me to preform an appraisal for a sale or refinance and them just providing me with someone else's appraisal report from before, that's when I am not interested in view someone else's appraisal report, but some people (not you) on AF post so much that they don't seem to take the time to understand what others are trying to get across, they would rather argue with the wall, simply because they like to think they are correct.

 

[Cob]

Curious: the form report includes "prior appraisal report" as a source of presumably credible data. Does it imply the appraiser's prior report, or a prior report by any licensed peer?

Again, I am NOT talking about a 2055 report, I NEVER mentioned that, someone else did............

Also, the choices on the 2055 form (if this is the form report you speak of) are: Appraisal Files, MLS, Assesment and Tax Records, Prior Inspection, Property Owner, Other.

There is no: "prior appraisal report" option.

 

[George Hatch]

IMO, just because a form does/doesn't have a box doesn't have any bearing on this issue.

If someone handed me a perfect appraisal on a property and I decided to copy/paste, the value conclusion in my appraisal (or appraisal review w/my own opinion of value) occurred when I agreed in the first place that everything was as good as I would be able to do. If/when I come to that opinion it belongs solely to me regardless of how I got there.

Just because I accepted a listing from a broker isn't a representation on my part that I'm going to use that info in my appraisal. All it means is that I didn't arbitrarily ignore that information on the sole basis of not having personally developed it myself. I'm not taking anyone's word for anything, but I'm committed to following up on leads in furtherance of trying to do right by my assignment.

I never ever pass up the opportunity to tell these various parties that I'll look at anything they want to throw into the pot, but I'm only going to use what I think is right. If I'm already looking at 40 listings in order to refine down to the last 5 or 6 I'm presenting in my report then I'm already discarding the other 35 listings that I didn't use. I don't see any difference between discarding 35 vs discarding 45.

I came, I saw, I discarded as being less similar. I are appraiser. Abandon all hope. All your data are belong to me.

 

[Dublin ohio]

Recently i was given a report just recently done for a bridge loan. I was doing the purchase appraisal. It was a five level split. The other appraiser included the partial below grade area as GLA. Obviously not to ANSI specs. Their report will show roughly 460 more sf of GLA than mine. I consider that information that would help me prepare for any push back.