Measuring partial stone (or brick) veneer/ partial stucco (or siding) homes

[alebrewer]

If this is so, its just another step down the road of the licensed appraiser signing off on others' work. Here's the GLA. Here's the interior 'inspection'. Here's the comps we want you to use. Here is the (ahem, hint, hint) sales price. Just sign here. Your $35 will arrive in 4-6 weeks.

Not for me, sorry. I want to personally gather and verify as much of the info as I can if I am signing my name. We'll just have to cordially disagree on this issue.

lol. I'm not here to convince anyone of anything. And I'm pretty sure we'll see a mass exodus of resi appraisers when the agencies finally roll out their modified SOW in the 'new world' ahead. I really hope that we don't lose so many appraisers that our future is in jeopardy (i.e. the market finds alternative valuation products), but who knows... the only constant in this world is change (I didn't make that quote up by the way).

 

[J Grant]

lol. I'm not here to convince anyone of anything. And I'm pretty sure we'll see a mass exodus of resi appraisers when the agencies finally roll out their modified SOW in the 'new world' ahead. I really hope that we don't lose so many appraisers that our future is in jeopardy (i.e. the market finds alternative valuation products), but who knows... the only constant in this world is change (I didn't make that quote up by the way).

Why do you think there will be a mass exodus? Is the projected fees /web based delivery/turn time so horrible as to be untenable? Or do yous predict a drastic cut back of appraisals of any kind?

If the new SOW is reasonable I would expect some attrition rather than a mass exodus. Now you are scaring me - how bad is what they have planned ?

 

[alebrewer]

Why do you think there will be a mass exodus? Is the project product / fees /software / truly horrible ?

If the new SOW is reasonable there might be attrition but not a mass exodus. Now you are scaring me ! How bad is it what they have planned..??.

I'm sure I don't know much more than you do about what they have planned. I'm basing my estimation of exodus on the general consensus (and toxicity toward change) of this forum - including you, J. From a statistical perspective, however, this sample set may not be reflective of the universal set (of appraisers, that is).

 

[J Grant]

Okay, that is reassuring -

My "toxicity" toward change is based on the idiocy of the 1004P, if it were productive, positive change I would be all for it.

 

[J Grant]

I would expect attrition due to aging of the pool - depending on what the new consists of ( and there will be I assume a transition period/learning curve) it might accelerate it in some cases but not others. Tehre are newbies comping up to replace which is as it should be. But if they come in with a heavy emphasis on 1004 P they will do far fewer field inspections and never gain teh wealth of knowledge experienced appraisers were able to get over the years.

It is the combination of field knowledge and data analysis that makes an appraiser an appraiser - most of the questions posed by newbies ( and even some experienced )are about the properties, not the data. Read the posts, HBU, is it a bedroom or not, a permitted addition, is it one lot or two etc etc - 90% of the questions are about properties and sites ( accumulated field knowledge ) . An appraiser does not spend years as an apprentice/being supervised / struggling with what they see because it takes years to learn how to measure or photo. They spend that time because it takes years ( and we are always learning ) to understand how to evaluate all the aspects of a property when confronted with it. Including so called cookie cutters, which are usually simpler but even they have their issues. And each "cookie cutter " assignment is still hundreds of thousands of $ at stake. Why they are diminishing the product and thus will not develop future generations of appraisers with robust ( ha ha ) field experience is hard to fathom.

 

[jay trotta]

Couldn't agree more. My only point was/is, that if we accept as credible the GLA for the comparable, why would it not be acceptable to do so for the subject? At least unless we have reason to believe the information to be incorrect - as would be the case in your example of changing GLA for comps...

Would agree, in my area the assessor gathers their information (in some cases) from the building dept, as most permits have (rehabs also) or are designed to meet both Heating & Cooling estimates for both new & repaired systems. Therefore, a calculation (Sq. Ft. ) (CFM) is required by the licensed party of the work to be provided, and be submitted with the permit application. Over all the years of practice, only on a rare occasion have I found flaws in the GLA; measuring is always a good practice for that verification, although is doesn't account for any discrepancy for the comps. ?
AN explanation as to how You decide the GLA, is what is required, so that the reader understands how and why you made the determination; if you found a discrepancy in the GLA, whether it is 40 SF OR
500 SF it should have an explanation as to the possible inaccuracy.

 

[Tim Hicks (Texas)]

I think you've hit it with the age thing. I could do a quick data drop and calculate average age around here (at least for sales), but without doing so, I'd guess it's around ~ 25 years or so. Blueprints are submitted to assessors when the homes are built - maybe they weren't in times past? Or maybe the rate of construction of additions/conversions for older homes is higher than for newer homes... at any rate, the discussion begs the question of how relevant 'measuring' the home is, at least in the context of credible assignment results. In almost all situations, the appraiser is using GLA reported on MLS for analysis of the comparables - and yet that almost always is what is reflected in tax records. Does that bring into question the credibility of the comparable sales' information?

It is amazing how many times the wrong plans were submitted to the county in this area (DFW). What area of Texas are you located?

 

[alebrewer]

It is amazing how many times the wrong plans were submitted to the county in this area (DFW). What area of Texas are you located?

North side of dfw. Collin county mainly.