MLS Comp Photos WTF!

[Stone]

I disclose the MLS photo and state that the propery cannot be located without specific directions or that the property address is not marked at the road.

Then how does your question relate to my post (that you quoted)?

 

[JTip]

I use MLS photos in my reports. These photos represent the house on the DAY IT SOLD. What happens when the COMP, wood sided w/single pane windows that sold on 1/1/2009 for $20K now has vinyl siding, new theropane windows and unknown interior updates (using an extraordinary assumption) as of 9/28/2009 and is now worth $35-$40k. That sure would look funny in a report and raise questions. Just one example of many reasons why to use MLS photos.

Yes, yes, I know.....and yes, yes I do, I do each one.....and our MLS shows a watermark on each picture that shows where the photo came from so nobody is trying to be sneaky or misleading...

I have to agree with Joyce:

In my opinion, those photos are generally the least of the appraisal problem, overall.

 

[CANative]

Then how does your question relate to my post (that you quoted)?

I was being over-sensitive.

 

[Stone]

I was being over-sensitive.

Cool. I was being confused. :laugh:

 

[Stone]

FTR - I have to drive all my sales because my clients expect it and my reports say I do. That sometimes means I drive to the end of a dirt road that doesn't actually come close to hitting the property. It also means I cover a huge area at times. However, I'm not opposed to people not driving sales if their SOW, agreed upon with the client, describes that. With the type of work I do, there are many sales in many areas I would be comfortable using without driving to them. However, that just doesn't work for my clients. If it did, that would be a different story.

 

[Pat Butler]

I drive by all my comps because that's what my client wants and that's why I affirm to in the cert pages.

In situations where I drive by and can't take a photo (kids outside) then I'll usually take a photo down the street showing a wide view of the neighborhood so I could prove in the future that I was right there in the neighborhood.

In cases where the subject property now looks different from the time of sale then I'll use the MLS photo but will still have the more recent photo in my work file.

No excuses-- the cert pages say you drove by. Not only that, but even if you know the neighborhood well you can still sometimes find out more about the comp when you drive by. Let's say the new owners are rehabbing it and have all the old kitchen cabinets on the curb for the garbage man. You read the MLS comments that said the property had an updated kitchen. Perhaps the cabinets on the curb would entice you to look into the property condition a little more.

 

[Metamorphic]

Oh yes! With all those high paying AMC fees why can't every appraiser purchase the newest, state of the art laptop and pay all the extra wi-fi fees, etc., so they can provide the most current comparable property photo for every report for every situation.

Anybody who cant calculate GLA off their sketch with a pocket calculator with enough accuracy to qualify potential comparables doesn't deserve an appraiser's license.

Ever have a person sitting or standing in front of your comp that wouldn't move? Ever had a photo malfunction? Ever have bad weather or ran out of daylight or the property sat so far back off the street that you had to open a gate or otherwise tresspass on to the property to get a decent photo?

I love it when there's somebody standing out side of the comp. Great opportunity to confirm the sale and get 1st hand knowledge about anything that may be vague in the MLS description. Bonus!

There are set procedures for circumstances where a useful photo cant be obtained and a MLS photo is used instead. We all know what they are. I also carry two cameras plus my cell phone camera . No chance of not getting a photo that will at least substantiate that I did what I said I did.

In my reviews, I see MLS photos used all the time. In my opinion, those photos are generally the least of the appraisal problem, overall. I'd rather see a well supported, honest, ethical appraisal with a few MLS or tax roll photo short cuts than a complete ***** job with all authentic photos.

I agree, but at the same time.....Even the most dim, poorly trained appraiser can drive by and take a comp photo. If a person is using a MLS photo, without credit, from a house that's nearby and easily found, it says a great deal about their ethics, and work ethic. If they wont drive around the block and flex their index finger, real analysis of the appraisal problem is, I'm sure, out of the question.

I know, I know -- here it comes.

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[Webbed Feet]

USPAP Violations, are you making them?

I once again have a request for me to replace two photos in a report since they appear to be MLS photos, which yes they are, I admit it. What I am wondering (bring flames if you must). How to always have fresh comp photos in every report. For example, the homeowner says "my house is in O.K. shape, a good size, and 3 beds, 2 baths". Obviously he does not know the GLA size of his house, which is understandable, he just lives there and does not care what the "GLA" number means. I look for possible comps that I will need and see that from the range of 3/2 homes in the area there are 28 possible comps from 1200-2300 sqft. I notice that 2 don't have MLS photos so to be safe I go to those after my inspection to look at and take photos of them. Now it's back to the office, 30-45 minutes depending on traffic. Input my sketch, find the GLA size, think about the condition of the subject, then find the 3 or more comps that BEST FIT the subject out of the 28 that sold in the area. After finding them, adjusting them and working up a nice report with low adjustments, am I supposed to take the 1-1.5 hour round trip to photograph the comps I just used? OR, and I supposed to take all 28 comp photos when I am in the neighborhood? I always like to follow USPAP and be as accurate and professional as possible, so I would love to hear how this is done.

P.S. I am very familiar with the subject area and have appraised about 7-8 homes in the same neighborhood over the last 2-3 years. So yes I am competent to work this neighborhood.

P.S.S. This is about half rant for me, but I am open to suggestions

Mr. Panzavecchia, I'm not going to read any more of this thread than your first post.

If you are doing the above while the SOW that you signed off on is the one on the 03/2005 URAR form, you should consider turning in your license and getting out of the business. Before you reply back how insulting my post is, try, for once, reading the SOW statement that YOU agree to abide to that comes with that assignment type. Please post back to me, verbatim, what step three says in that SOW? Post, verbatim, what certification number three says.

I'll leave you to try reading the Ethics Rule on your own. Because there are issues with your own statement, second in red font above, and what you are NOT doing! ... So the only "suggestion" I have is stop cutting corners and try doing what it is that you signed that you are!

 

[Webbed Feet]

I meant that I obey all the rules.

How can you? IF we are discussing 03/2005 URAR preprinted SOW, that is prohibited from being modified by ANY of us.... you admitted in your first post that you are not following the rules.

P.S. Oops! I lied! I did not do what I said I was going to do or said I had done! Gosh, is there anything a CE USPAP update you've taken, or in the USPAP manual that could be applied to that as a case study?

 

[Mike Garrett RAA]

So, can we all agree on the following.

USPAP is moot on taking pictures of the comparables. In fact, it doesn't even say we need to look at them.

USPAP does say we are to produce a credible appraisal and a report that is not mis-leading.

Failure to comply with supplemental standards or guidelines could be considered a violation of the Competency Rule.

Signing an appraisal report the appraiser certifies that he/she observed the comparables from at least the street. Failure to do so would be a violation of USPAP and might even be considered fraud.

Using MLS photos is not prohibited by any of the GSE's, FHA, or VA; however, there should be a good reason why you are not using your own photos such as locked gates, people in the yard, adverse weather conditions, and probably a few more I can't think of at the moment.

The MLS photo may be better and more representative of how the property looked at the time of listing. Most MLS systems allow use of the MLS photo in appraisals.

Using MLS photos is a function of Scope of Work. The appraiser should disclose the photos are from MLS and the reason why they are used.

The fee should not dictate whether or not an appraiser drives the comps. If you say you did then do it.