MLS PHOTOS------COPY / PASTE ???

[TC]

Jeff,

I have to agree. I have been pulled over too many times by Police and irate mothers while attempting to grab a photo, even with my 200mm telephoto lens. I find it much easier to use the MLS and the county photos that are now public record in my area. I still look at the comps, I just choose not to snap a photo. I worked for the local MLS taking listing photos for about 6 months, talk about over worked and underpaid.

Additionally, the idea of submitting comp photos is to prove to the lender that you viewed the comparables. When that decree came out some 15 years ago a local group of appraisers got together to pay a local photog to set up a data base of comp photos. If you truly looked at the comp, does it matter who shot the photo?

TC

 

[Willie]

A half a$$ed appraisal (not looking at the comps) is still better than an AVM or evaluation. Some clients apparently don't care if we drive by even the subject, much less the comps. Maybe there should be some standard appraisal product where we could inspect the subject and use MLS photos or no photos, and just explain and certify that we did not go and look at the comps. This product would be a little cheaper, faster, and certainly less than a regular URAR appraisal. It still would be much better than an AVM, desk top appraisal, or eval. or whatever they call them these days.

 

[Tim The Enchanter]

just explain and certify that we did not go and look at the comps.

Then you might miss that ugly external ob, or the fact that the buyer scraped the house off to build new. Or...

 

[airphoto]

Correct me, if wrong, folks:

Isn't 'viewing the comps' an underwriting guideline? I agree it's good and excellent practise .. but not mentioned, or required by the PaP!

 

[Restrain]

More than once I have had to use the MLS photo due to camera failure or being off the road and not visible. I don't know about other areas, but around here I AM NOT going to tresspass onto someone's property to take a photo. I can be arrested for that and a photo's not worth it. Again, it comes down to using "the best available data", whatever the source.

Roger

 

[George W Dodd]

The appraiser signs a certification page stating, among other things, that they have inspected the exterior of the comparable sales.

It does not say that the photograph has to be taken by the appraiser.

There are many reasons to look at your comparable sales!

There are many reasons you can't!

Disclose, disclose, ......

 

[Verne Hebert]

Nice Post George!

 

[Steve Owen]

if you did not drive-by the comps, at a minimum you would have to state that in your report.

There is nothing in USPAP that specifically requires you to inspect the comps. That being said, failure to do so could lead to an unreliable or faulty opinion of value; therefore, any failure to do so should be disclosed. (Most second mortgage market investors will not accept your appraisal product if you disclose this.)

The second issue is whether you can use MLS photos instead of taking your own if you did inspect the comps. Sure you can, if you want to be a lazy appraiser. Why would you want to give your competition such an advantage?

Like others in this thread, I have used MLS photos on those rare occasions when it is not possible to obtain my own. (With appropriate explanation and disclosure.)

 

[jtrotta]

MLS - Make Lousy Substitutes 8O

the only way I use em, is if the "Lender" requests it in writting; I make the original call and advise of the poor quality photo potential and then let them decide.

Case Closed :!: :!:

8)

 

[Mike Garrett RAA]

First of all there is no legal reason you cant use an MLS picture IF you are member of the MLS. If that was the case they would not make it so easy to use the photos.

I prefer to "observe" the comparable personally; however, I will not trespass on private property to get a picture. If I cant get a decent one I use the MLS and just explain why in the report. Pictures of gates and fences do little to assist the underwriter in "understanding" the comparable. Same holds true in snow storms. If you cant see the house in the picture...it's worthless.

You could argue the fact that comp photos are not even a requirement of USPAP...but your client generally sets their own requirements.