MLS Comp Photos WTF!

[CANative]

I also often include the interior pictures of the comps that I get from MLS.

I thought I was the only one that did that.

Now back to the blah-blah.

 

[DWiley]

Were talking about appraisers that never drive-by the sales, not the exception to the rules....

Actually, I was talking about reviewers making unsupported assertions and demonstrating bias. I do lots of reviews. I see lots of reports with MLS pictures. I make no assumptions about that. I simply report what I find. The reviewer has the same obligations regarding objectivity and impartiality as the appraiser.

I am also talking about reviewng the report rather than the person who prepared it. Just look through this thread and see how many are unconciously (or even conciously) reviewing the appraiser rather than the report.

"If I review you..."

 

[Michigan CG]

I thought I was the only one that did that.

I always include the interior pics of the comps from the MLS. It helps tell the story better.

 

[CANative]

I always include the interior pics of the comps from the MLS. It helps tell the story better.

Yeah, well if I made $158,000 adjustments in the mid-west I'd always be putting in the MLS interiors too.

 

[Webbed Feet]

I might as well state my off the fence position again too.

True, this is not about MLS photos. It is totally about appraiser's lying when they sign SOW and certifications. Either our trade members decide to participate and promote the lie, or we face the fact that not having one single appraiser taken comparable photo, in reports with four, five, six, and more comps... is a dead giveaway. Especially, the moment it shows the same appraiser NEVER has self-taken comp photos in any report at all. The "MLS photos are ok" crowd can continue to kid themselves, but it becomes a bit impossible that no comparable EVER is properly represented by any appraiser taken photo. That ALL of them have to be MLS photos 100% of the time.

If we have nothing to hide, including the self-taken photos in a report along with any MLS photos we want to include, is no problem at all. If we have nothing to hide, at least including self-taken photos in half of our comps should sound pretty darn reasonable. But 100% MLS photos all the time, in all reports? Sorry, but the likelyhood THAT appraiser has something to hide is too high just to ignore.

I would never file a board complaint just due to MLS photos. No, after I personally drive all those comparable... I've never needed to even mention the photos at all to support a very well written and documented state board complaint...



and all of them have resulted in the appraiser involved crashing and burning. It's just too tempting. Once a person starts cutting corners like that, they then cut a few more... then a few more.... then a few more.......then a few more........................................ Now that their personal integrity is out the window, so goes the credibility of their reports along with their duty to remain unbiased towards their client's goals.

 

[Ken B]

VA requires that the distance to comps also include a compass direction from the subject.

Occasionally, I would forget to include the compass direction. Typically, I would get a letter from VA noting the error with a caution that "continued poor performance" could result in suspension or worse.

I was a bad boy. So sue me and yank my license.

Alternatively, if that is the worse thing that could be found wrong with my report, slap me on the back and buy me a beer.

 

[Kevin Mc]

I do lots of reviews. I see lots of reports with MLS pictures. I make no assumptions about that. I simply report what I find.

As do I. I see lots of reports with MLS pictures with no explanation as to why they were utilized. I don't live or die by any standard or rule but I can say that more often than not, reports with all MLS photos typically will have issues beyond the MLS pictures. Bias? nope. Experience?, yup.

 

[BRCJR]

Thanks, but the belligerent part would be not including a silly "proof that I was there" photo. I understand why people do that, but I hate playing the prove I did what I said I did game.

that ole' silly FHA requires one.

 

[Carnivore]

I drive the comps, but I almost never use my own pictures because they are seldom as good as the ones in MLS. I also often include the interior pictures of the comps that I get from MLS.

You can make light of this all you want it still does not change the fact that most of the appraisers who use MLS are doing so because they are not driving around inspecting the neighborhood.

Comparable sale Interior MLS pictures exceed the typical SOW of a URAR. I also do this myself even though I dont need to. You know very well this comes under a best practices policy as opposed to a minimum standards policy of USPAP.

Its easy to tell when an appraisal was developed by cutting every corner possible that has little chance of getting caught. MLS photos in a suburban area are one clue that often leads to many others indicting the credibility of the whole report.

I can not recall ever seeing a well written, well developed residential 1004 report that only used MLS pictures.

I turned down a review the other day because of the Fee being paid was to low. I got a look see of the report under review. First thing I noticed was the MLS pictures the appraiser used. I know the area, and I knew the comps. The stupid appraiser was not even smart enough to realize a total 100% renovation urban center house selling for over 300K was not going to look like a dump as was represented by her pictures. Interestingly she did not even include interior pictures of the subject which was subject to 90k worth of upgrades and repairs. I seriously doubt she even visited the subject. I can not prove it but I would say she used a runner or she used the listing agents pix and sketch.

 

[Stone]

that ole' silly FHA requires one.

If it is a client requirement, and stated so, that is fine. That is different than the reviewer who decides to have his/her own "supplemental standards" so to speak.

And it is still a silly requirement. As if a non-MLS photo proves anything beyond someone took a photo.