MLS Comp Photos WTF!

[Mike Garrett RAA]

Issue becomes..."who does the client believe?"

 

[DMZwerg]

BTW, how can you verify the presence of that patio in rear yard? Up he-ah we all done gut shotguns & ugly dogs & uglier wives!!!

How do you verify a house when all you see is trees and a long driveway?

As for the direct inspection route, verifying from the street would involve angles ... sometimes you can verify it sometimes you can't, but when covered in 2' of snow the answer goes from "sometimes" to "virtually never".

 

[DMZwerg]

I think it's redundant to re-shoot the photos each season because of snow, etc. When you took the original comp photo, you viewed the property, confirmed the exterior condition and the visible exterior amenities. That's what you were supposed to be doing.

Did you enter the comp into your database as well then?
If not, what did you eat for lunch on August 3rd? :laugh:

Some people try to "work ahead" but just having driven by the property is not the same as really inspecting it from the street and older memories tend to be less reliable.

Also, in the case of active comps, in some cases work is done on them after initial listing. Just a point to consider.

Thoretically, the best comp photo would be taken on the date of sale to show the condition at that time. (I know, I know, it's not feasible in the real world - but theoretically it would be the best.)

I've shot comps that have had additions since the date of sale ... that burned down since the date of sale ... etc. All those photos have to be explained out the wazoo.

Yep, that happens too, in which case the older photo or MLS photo may be more indicative and the appraiser would actually be better off using the older or even the MLS photo with a brief explanation as to why.

 

[Joyce Potts]

Issue becomes..."who does the client believe?"

The computer generated AVM estimate of value?

 

[jlabauve]

Zwerg - I agree with you. Sometimes memories fade. Even if I already have the comp photo (I take all my comp photos personally), I think it is wise to refresh my memory by driving past again, if necessary. But many times, I remember the comp very very well. In that case, I don't feel it's necessary to drive past again.

Also, I wasn't talking about shooting active listings. I said theoretically it would be best to shoot the comps on the date of sale, or as soon after the date of sale as possible. (Sorry about misspelling 'theoretically' in the last post).

 

[DMZwerg]

Also, I wasn't talking about shooting active listings. I said theoretically it would be best to shoot the comps on the date of sale, or as soon after the date of sale as possible. (Sorry about misspelling 'theoretically' in the last post).

I agree with that statement as well that, in general, that is true (and the snow gives additional evidence as to why they tend to sell for less seasonally as well).

I would also figure that attending open houses and doing informal inspections of active listings in an area would also make for better reports as well, but that is not always possible

 

[ewwalter]

Wow, a lot of discussion for a simple topic. OK, I've got a comment; WHAT? Please go back to re-habbing homes ASAP.

 

[New Orleans Guy]

Wow, a lot of discussion for a simple topic. OK, I've got a comment; WHAT? Please go back to re-habbing homes ASAP.

I started the thread and am buying a flip in two weeks. I will be declining some work at that point for a while. Too much nitpicking for a few sheckles, I need a break.
m2:

 

[RSW]

Zwerg - I agree with you. Sometimes memories fade. Even if I already have the comp photo (I take all my comp photos personally), I think it is wise to refresh my memory by driving past again, if necessary. But many times, I remember the comp very very well. In that case, I don't feel it's necessary to drive past again.

Also, I wasn't talking about shooting active listings. I said theoretically it would be best to shoot the comps on the date of sale, or as soon after the date of sale as possible. (Sorry about misspelling 'theoretically' in the last post).

Date of sale or date the contract was signed?

 

[jlabauve]

Theoretically, I guess it is best to shoot the comp photo on the date of contract. Of course, that is completely impossible!