Jason Barber
Junior Member
- Joined
- Feb 16, 2006
- Professional Status
- Certified Residential Appraiser
- State
- Michigan
Peer Review & Discussion
05/29/2008
Meeting Minutes
Present
Brian Kirksey, Jason Barber, Hglenbetts, Norma Clement, Tina Whitman, Jessica Schmidt, Paul Schmidt, Timothy Evans, Artemis Fowl, MARKETVALUENOW, Pete Petro, Charley Horse
Work File – What’s in yours?
Brian introduced this topic to the group for open discussion. People shared what was in their work files however, most agreed that there is no definitive answer to the question. Some work files contain hard copies of every document involved in support of the appraisal. Mr. Evans provided a sample of his work file that was very detailed and included an engagement letter, copy of the signed 1004, comparable listings, assessor cards, maps, sticky notes, hair samples of the homeowner, etc. Of course I’m j/k about the hair sample, but it goes to show how detailed Tim’s work files are. Others prefer to store their work files electronically. Most people probably do a combination of these two. We decided in the end to ask a State Board Member what constitutes a work file. See thread on AF entitled “workfile” started by Brian Kirksey.
Declining Market Analysis
This discussion mostly centered around what is considered to be the subject neighborhood. In the case where there is not enough data to perform an analysis on the subject neighborhood, the appraiser must expand the market area to capture relevant data and then discuss this in the addenda. Several different approaches were discussed in actually defining a declining market. The most important point driven home was to make sure you provide hard evidence in your report to support your market analysis. Some appraisers are inserting graphs and/or tables in their reports to display their data and support their market analysis. This was agreed as the preferred method for communicating a clear understanding of a declining market.
Other
There was a long discussion regarding AI and benefits of membership. Also, many appraisers commented on a software tool called "Snagit" to capture screen shots and incorporate them into your reports.
Hand outs
For those that participated, a critique was conducted by the peer group for any appraisal that was submitted earlier in the week.
At the end of our meeting Tim Evans handed out a very informative article detailing how to adjust for GLA based on tightening the range of adjusted sales on the grid. The adjustment factor that produces the lowest range should be considered for your GLA adjustment. This method is similar in concept to paired data analysis.
05/29/2008
Meeting Minutes
Present
Brian Kirksey, Jason Barber, Hglenbetts, Norma Clement, Tina Whitman, Jessica Schmidt, Paul Schmidt, Timothy Evans, Artemis Fowl, MARKETVALUENOW, Pete Petro, Charley Horse
Work File – What’s in yours?
Brian introduced this topic to the group for open discussion. People shared what was in their work files however, most agreed that there is no definitive answer to the question. Some work files contain hard copies of every document involved in support of the appraisal. Mr. Evans provided a sample of his work file that was very detailed and included an engagement letter, copy of the signed 1004, comparable listings, assessor cards, maps, sticky notes, hair samples of the homeowner, etc. Of course I’m j/k about the hair sample, but it goes to show how detailed Tim’s work files are. Others prefer to store their work files electronically. Most people probably do a combination of these two. We decided in the end to ask a State Board Member what constitutes a work file. See thread on AF entitled “workfile” started by Brian Kirksey.
Declining Market Analysis
This discussion mostly centered around what is considered to be the subject neighborhood. In the case where there is not enough data to perform an analysis on the subject neighborhood, the appraiser must expand the market area to capture relevant data and then discuss this in the addenda. Several different approaches were discussed in actually defining a declining market. The most important point driven home was to make sure you provide hard evidence in your report to support your market analysis. Some appraisers are inserting graphs and/or tables in their reports to display their data and support their market analysis. This was agreed as the preferred method for communicating a clear understanding of a declining market.
Other
There was a long discussion regarding AI and benefits of membership. Also, many appraisers commented on a software tool called "Snagit" to capture screen shots and incorporate them into your reports.
Hand outs
For those that participated, a critique was conducted by the peer group for any appraisal that was submitted earlier in the week.
At the end of our meeting Tim Evans handed out a very informative article detailing how to adjust for GLA based on tightening the range of adjusted sales on the grid. The adjustment factor that produces the lowest range should be considered for your GLA adjustment. This method is similar in concept to paired data analysis.
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