Please Buy This Book

[Michigan CG]

If you were trained, or currently use some set % or $ adjustment for GLA you need this book.

I have in front of me five residential appraisals from three different appraisers. All of them have GLA adjustments that are set in stone no matter the indicated value at the bottom line. I called one, "where did this adjustment come from", I asked, he replied that they use 25% of the sold $/SF of the comps.

Another one uses $25/SF....period...."that is the way I was trained".

Talking to appraisers they were given the "list". $25/SF for old houses, $50/SF for new houses.

$25/SF for little houses, $50/SF for big houses.

What do you do when you have an old big house???? or a small new house???? m2:

THIS IS ALL WRONG!!!!

The book is Using Residential Appraisal Report Forms by Mark R. Ratterman, MAI, SRA, and is available from the Appraisal Institute.

Anyone involved in this set $/% mindset needs to thoroughly study pages 96-102 and put into your practice.

Two of these appraisals are involved in litigation and I will discredit them in court on this issue along with other issues.

http://www.appraisalinstitute.org/s...m-1004-and-exterior-inspection-form-2055.aspx

 

[Flatlander]

Tim, I agree and I highly recommend this book. It covers the URAR section by section, and it also brought to my attention minor details of areas where I needed to make some changes in my reports. IMO this book should be a requirement for all trainees in the first place!

 

[Smokey Bear]

Great book - I took a class based on this book - it's now filled with tons of notes, post-its etc and is a great resource. The class was recommended for trainees but I think everyone should take it.

 

[Michigan CG]

I just got a bankruptcy case assignment today that will go to court and there will be an opposing appraiser. Wonder if he will use the list or he will get his adjustment from the Market.

Of course I will get to see a copy of his appraisal before I testify.

I won't be sharing the title of this book with him!

 

[Terrel L. Shields]

I worked with an appraiser who was taught that fireplaces etc. were estimated from M & S and depreciated from eff age then used. The SF adjust was always 50% of RCN/SF. She knew it was wrong but did some that way until she could find a better job. Didn't matter. Her super never let her sign them anyway....he's no longer appraising at the request of the state but survived several sanctions over 10 year before the big 'un got him.

 

[PJK03]

Where was the class?

Great book - I took a class based on this book - it's now filled with tons of notes, post-its etc and is a great resource. The class was recommended for trainees but I think everyone should take it.

This sounds like a good book to buy, but if there is a class I could take and receive some CE that would be even better.
Did you take this class online or in person, and where?
Thanks!

 

[Smokey Bear]

It was a 2 day class, in person, offered at Ann O'Rourke's "Appraisal Today" conference. I don't know if she's putting on a conference this year, she skipped last year. It was taught by Corrina Rollins.

I think Ann's too busy playing drums with her band to worry about conferences.

 

[Mr Rex]

Tim, how much for a used copy with Bud and Skoal stains?

 

[Michigan CG]

Tim, how much for a used copy with Bud and Skoal stains?

Well Rex, I will NEVER sell that book. There are about 30 post-it sticky's on pertinent pages. There might be a few dirty finger stains on it, I keep the Budweiser on the chair next to me so if it spills it doesn't get on the project at hand.

I have found the Berry skoal leaves worse stains on paper than the other flavors.

Since my original post I have another court case where I guarantee some "list" adjustment on the opposing appraisal. It is boring to win all the time.

Give my best to your grandmothers, I bet they are Copenhagen girls.

 

[Mr Rex]

My grandmas weren't wussies, they dipped real snuff. One dipped Old Railroad. I don't remember what the other one dipped, but she smoked non filtered Pall Malls at the same time.

FWIW, My Pa smoked non filtered Chesterfields until the ashes fell behind his gums (he didn't have teeth later in life) and chewed Red Coon Plug tobacco and drank shine from a mason jar. I don't smoke or chew, but I did inherit the liver gene from Pa.