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Love Them Realtors & Their MLS

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Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Looking at new listings and saw a MH in a small town...but when I pulled it up, it was actually in a town 20 miles away. So I emailed the agent and said, wrong town, clearly it plots, its school, and legal are in the other town. She emails back "I know but the office manager said it was in the public record that way so leave it."....

So i check the assessor's website and no the field card does not mention the town. But their compiled records indicate the billing address to the tax payer is in that town. So Realist pulls up the right address, assigns the wrong town due to the taxpaying owners home, and nobody knows how to fix it...Boy, going to be fun for some appraiser to explain to an idiot in India why a town 20 miles away has nothing to do with an assignment that gives that town the address. (BTW, put that address in Google earth and it plots on yet another town halfway between.)
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
Old trick ** The property may get more lookers because it's listed in a larger community. I see this about 3-4 times a year * Don't agree but it happens.
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
We have (2) Towns with the same Zip Code; 99% of the time the Order that comes thru is in the wrong town and they Claim it's what USPS pulls from records.
Short story, at one period of time one of the area's was part of the other town, when the zip codes went into play; a Trade was made for Tax Purposes and this small area was traded, zip code never changed. It drives Lenders bat sheit, so we boots on the ground appraisers always need to explain the why and make them correct the Order form.
Have yet to find a Lender OR AMC that can read a Deed, which basically tells you where the property is Located, they can pull everything up on a computer but the right address. This is over the past 20 years and is a constant for that particular area.
Most of the towns I work in have "Villages" created many years back (some have different zip codes), but they are under the municipality and Not a separate town. This will make automated research a bit special and very easy to miss the marketability factors tied to an appraised value. Hmmm
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Another day - can't get anything done from laughing at Realtor listings. One claims lots were selling for "$50,000 in this area"... in fact, his was the lowest sale at $20,000 and two others were $21,000 and $22,500 respectively. There has been no $50,000 lots in this small town - not even in the boom. Another sale I mused with some satisfaction. One of my biggest clients would not use me for two builders who complained about my values. I noticed that one of them bite the big enchilada six years ago and the bank finally got rid of one of their small commercial buildings that basically was their last harrah... sold for $34,000. A little frame standup 600 SF "office" that was completely out of the main trade area. Been on market since 2011 when the bank "ate it"... And two more commercial buildings a local builder whose wife is a Realtor sold for near the appraised value which they proclaimed was "way under valued" by me. Yeah, right. So why are you selling then? They were both fully leased income property according to your listing.

And every god forsaken lot within 10 miles of town has "development potential"...I guess.
 

Vermonter

Senior Member
Joined
Mar 21, 2007
Professional Status
Certified Residential Appraiser
State
Vermont
We have (2) Towns with the same Zip Code; 99% of the time the Order that comes thru is in the wrong town and they Claim it's what USPS pulls from records.
Short story, at one period of time one of the area's was part of the other town, when the zip codes went into play; a Trade was made for Tax Purposes and this small area was traded, zip code never changed. It drives Lenders bat sheit, so we boots on the ground appraisers always need to explain the why and make them correct the Order form.
Have yet to find a Lender OR AMC that can read a Deed, which basically tells you where the property is Located, they can pull everything up on a computer but the right address. This is over the past 20 years and is a constant for that particular area.
Most of the towns I work in have "Villages" created many years back (some have different zip codes), but they are under the municipality and Not a separate town. This will make automated research a bit special and very easy to miss the marketability factors tied to an appraised value. Hmmm

Omg exact same thing here. Probably every other assignment has a zip that doesn't jive with the physical town. Tried fighting it for too long, but gave up and I just use the USPS address and have a blurb in the addendum about the physical.
 

Noreen

Senior Member
Joined
Feb 5, 2011
Professional Status
Certified Residential Appraiser
State
New Hampshire
Omg exact same thing here. Probably every other assignment has a zip that doesn't jive with the physical town. Tried fighting it for too long, but gave up and I just use the USPS address and have a blurb in the addendum about the physical.

This has to be a " New England" thing, same thing in No MA & some in So NH.. I get so sick of explaining " there is no such incorporated municipality as blah, blah, blah"....UGH
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
From a listing for a duplex in Tujunga, miles from the ocean. I think it goes under category of You Can't Fix Stupid. :mad2:

DISCLOSURES: Accessory Dwelling Unit, 3rd Party Rights, Bankruptcy, Beach Rights, Cautions Call Agent, CC And R's, City Inspection Required, Coastal Commission Restrictions, Coastal Zone, Conditional Use Permit, Court Confirmation, Death on Property < 3 yrs, Earthquake Insurance Available, Easements, Environmental Restrictions, Exclusions Call Agent, Flood Insurance Required, Flood Zone, Historical, Home Warranty, Homeowners Association, Incorporated, LA/Owner Related, Licensed Vacation Rental, Listing Broker Advantage, Manufactured Homes Allowed, Methane Gas, Mineral Rights, Moratorium, No Lake Rights, Oil Rights, Open Space Restrictions, Pet Restrictions, Principal is RE Licensed, Private Transfer Taxes, Property Report, REAP, Redevelopment Area, Rent Control, Section 8 Approved, Seismic Hazard, Seller Will Pay Sec. 1 Termite, Slide Zone, Special Study Area, Subject to Estate Ruling, Tenants in Common - DRE Pink, Tenants in Common - DRE White, Trust/Conservatorship, Unincorporated, Water Rights, Well Log Available
 

Vermonter

Senior Member
Joined
Mar 21, 2007
Professional Status
Certified Residential Appraiser
State
Vermont
This has to be a " New England" thing, same thing in No MA & some in So NH.. I get so sick of explaining " there is no such incorporated municipality as blah, blah, blah"....UGH

It's any place with older housing. Northern VA had some spots too. With all the mortgage paperwork issues over the years, you would think banks would favor the physical town name rather than some historical zip code name from 100+ years ago.

Town I live in has less than 300 people, but 2 zip codes. My zip corresponds to the town to the south. Neither is the name of either town, but some historical part of the towns from days long past.
 

Noreen

Senior Member
Joined
Feb 5, 2011
Professional Status
Certified Residential Appraiser
State
New Hampshire
It's any place with older housing. Northern VA had some spots too. With all the mortgage paperwork issues over the years, you would think banks would favor the physical town name rather than some historical zip code name from 100+ years ago.

Town I live in has less than 300 people, but 2 zip codes. My zip corresponds to the town to the south. Neither is the name of either town, but some historical part of the towns from days long past.

I typically will advise them to look to the tax bill, what municipality is the taxing entity. There are times I wind up beating my head against the wall.
 
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