Measuring comps ?

[Pamela Crowley (Florida)]

Obviously, this is a flawed poll. Keep the comments coming and I'll start another one later that won't be as flawed as this one.

 

[Charles Witt]

Email your fellow appraisers

On quite a few occassions, I have visited a comp to take a photo from the street and doubt the realtors measurement in MLS or even the counties for that matter after looking at it. Then I look up the type of mortgage--- VA, FHA or conventional.
If it is VA I broadcast an email to all of the VA appraisers who I know work in the area. Everytime I have gotten a response with square footage & details and even sometimes a sketch emailed. When I get the info, I email the same group thanking them and invite them to do the same if they have questions
With FHA, I do the same thing but have less luck since everyone is an FHA appraiser now! The appraiser might have been from 90 miles away!
With conventional or FHA, I might call the listing agent to veify info and ask who appraised it. Sometimes they remember, but more often they do not.
Only if agents would put the appraisers name inthe file! Would be a great help with their memory!

 

[realbiz]

I also did not vote, because I have only done this on a few occasions when their was poor data, and I needed to use a comparable with no square footage data. Never asked, just did it. Like someone commented above it has mostly been on multi-family property, and the tenants did not ask any questions.

 

[J in Florida]

Measure?? What is this "Measure" you speak of?

Sincerely,

Your Friendly Mortgage Broker.

 

[Riick]

Once upon a time when I was fresh and new, working in row home neighborhoods, I counted the number of bricks on front & side of corner property to get an idea of GLA.
(( No county data back then, we walked to school 24 miles in the snow, & it was uphill both ways ))

I had a nice raw trainee once, a few years ago, who was working in an area where there was still no GLA available from county.
Taught her about standard width of shingles, and standard siding lengths, and other tricks to get *some* idea of the size of the comp, if you had no idea.

 

[TC]

Once upon a time when I was fresh and new, working in row home neighborhoods, I counted the number of bricks on front & side of corner property to get an idea of GLA.

I had a boss that used to make us measure commercial properties that way. How did you add in the mortar?

He also had us measure our "pace" and we would "walk off" the buildings perimeter.

TC

 

[ockyappraiser]

If I understand the question properly this deals with measuring a house to use as a comparable. . .one you do not have an order for. . one you do not know the owner. . .one you do not have permission to be at.

Are are you guys nuts? The definition of measuring a comp that you do not have permission from the owner to be at and measure is not good appraising. . .it is trespassing and illegal. . .not even skippies do that.

 

[loug56]

Done it many times when no info in Pub Recs was avaialble or seemed inaccurate. Have knocked on doors and asked and if it was new construction or seemed vacant, I procede and keep my business crad handy incase an explanation is needed. Majority of people are helpfull if you explain and smile a little. Normally you can find reasonably accurate size between county records, Building card info in REAP (FARES), and or MLS. I keep a test job loaded in my ACI files and take the sketch available in County records and quickly sketch it out. Between all sources you can generally get a good fell for the size. Did not vote because I have done it many times but only when all else fails. The point in this is to do your research well so while your on the road you can gather what you need instead of finding out while your ready to write.

 

[Michigander]

flawed poll; need to add "occasionally" to the mix.

 

[Jalexi]

I've done it once. New construction couldn't verify square footage of this particular comp so I asked the owner's permission to measure his property. No problem the owner understood what I was doing.