Not bracketed

[glenn walker]

He was either lazy, or knew the only higher price sale he could find was not really a "comp" and shouldn't be on the grid. Which is it? A highly superior or not similar sale gets called a comp, what a joke.
if the only reason it gets put on the report is to bracket a sale price then the appraiser knows it. Some appraisers are brazen and do it as routine. Others won't do it and if their OMV falls below a SC price they stand behind their OMV

So appraisers have to make a choice-imo, some appraisers are so poorly trained or clueless they see nothing amiss about it. If an appraiser deliberately adds a not similar or superior sale for the sole purpose of price bracket to hit a value they understand what they did, but do it anyway. I never could come to grips with what is worse, doing it out of ignorance or out of intent.

How about both - doing it out of ignorance or out of intent.

 

[Fernando]

Welcome to the world of American appraisals where lenders and Fannie set artificial rules for appraisers to write their report.
You see, I do it the Fernando way and if they have a problem, I fix it and appraisal value still doesn't change. Some of their rules are silly but in future, I'll add a comp to bracket to make reviewer happy.
Bracketing is not what a real appraiser does.

 

[Fernando]

The Lender must really really like me.
They sent me another order. They like my work.

 

[Fernando]

I finished my adjustments and came to an appraised value.
Then I looked at my comps and was fortunate to find one comp that was lower. Thank goodness.
I don't need to grab a lower sale to make reviewer happy.

 

[Tom D]

another 5 happy face report for our king. i also admire my work right before i send it in, because i never get stiped.

 

[Fernando]

another 5 happy face report for our king. i also admire my work right before i send it in, because i never get stiped.

That's what I said since I haven't gotten stiped in a long while.
I wanted to test it if lender really cared about bracketing. Apparently they still follow the book whether it makes sense or not.

 

[Fernando]

My appraised value fell believe the first 3 comps. Should I move Comp #4 to Comp #3 to bracket the adjusted comp values?

 

[Fernando]

Fernando's feeling is telling me to change it.
Because reviewers are dumb and look at optics, I will move my Comp #4 to #3 to make them happy. Ugh.

 

[Fernando]

My appraisal report passed with no mention of only one comp below my appraised value.
I know how the game is played.

 

[Amy Perkins]

My subject's appraised value fell out of the comp price range.
I concluded my appraised value and noticed it fell out of the bracket.
Should I grab another one just to bracket it?
No, I'll submit and see what reviewer says.

Just put it in if you have it, if you don't just discuss a matched pair and explain the adjustment from another period of time.