Public Record Versus MLS

[Terrel L. Shields]

Exactly what 'multiplier" would help determine GLA? Oh burdensome upon my time it may be...

 

[QWERTY Pi]

Exactly what 'multiplier" would help determine GLA? Oh burdensome upon my time it may be...

Don't you sleep dude? If you really want me to go into detail, I request you answer the following questions. 1 -What is your favorite food? 2 -What was the first concert you attended? 3 -Do you think the Dentist, who hunted and killed Cecil the Lion, should be held accountable in Zimbabwe? Please answer the questions above and I shall honour your time with more of my own, i.e., provide you with a logical answer practiced by many valuation aficionados.

 

[Noreen]

I use the most credible information source, and will resist - whether I comment or not - using a source because "CU expects" it.

Yes Peter, 150%!! My position on this is If I have measured a property and I know the GLA I have is accurate, regardless of what anyone else "thinks", why would I want to perpetuate incorrect information because that is what an inanimate object (CU) expects ( I make sure I have the interior photos to back up my information). I think it's a ethics violation to knowingly report incorrect information, that's just me.

 

[Sid Holderly]

Viable room dimensions are less and less likely to be found on the MLS today. Some agents count closets as rooms and add basement rooms to the above ground count.
County data is poor at best and fewer agents actually measure houses. The only measure I am sure of is the one I take.

 

[OSU Beavers]

The GLA figures varied from MLS, building permit and public tax roll records. The most reliable number for each comparable was selected.

 

[Marty Boone]

I am able to access the tax assessment records and look at the footprint detail of almost all of the comparable sales that I use. If the listing sheet's Sq. Ft. source states "public records" and it does not match what the public record actually show, I pick up the phone and call the listing agent. If the listing sheet's Sq. Ft. source states "measured" and it does not match the tax assessment records show, I pick up the phone and call the listing agent. I like to remind the realtors that if they state that they measured the listing and it turns out that their number is different than what the square footage actually is, they may be liable for misrepresenting the property. This goes beyond fluffery.

Use your best source and judgement, call the listing agent and don't even get me started with Bi-Level and Split-Level designs.

 

[Carnivore]

The GLA figures varied from MLS, building permit and public tax roll records. The most reliable number for each comparable was selected.

I like your post because it is coming close to what I think is the only answer to the CU issues on data. Your one line comment is boilerplate. I would guess your using that statement in every one of your appraisals. I essentially do the same thing. I think there is nothing wrong with your method. Some may word your statement differently but I would bet that most of them say essentially the same thing. Statements like yours, I place in the very first page of the report which is my Report Identification page that is found in my Alamode software. This page draws attention to many areas that are a problem when your dealing with CU, AMC Phone Monkeys etc. I do this because there seems to be no right answer to the variance issues of MLS, public records, and private data sources. The only right answer is if you were the one who had actually appraised the comparable sometime in the past.

Another CU question is why is YOUR appraisal subject GLA is different from everyone else; MLS, gis, etc My answer is simple to that one. I would state on page one to anyone reading my reports to Please insure they read the attached "Statement of Assumptions and Limitations" Specifically Statement #2 and #13. This should be sufficient to answer common questions of Subject GLA and Comparable GLA and other areas of the FNMA series(BR, BA, Room count, etc.

Long time ago boiler plate was thought of as a lazy appraisers way of doing things. Now Boiler Plate is back out of necessity, because most people who read our reports are challenged in the 'reading and understanding' skills. i.e. AMC Phone Monkeys, So called UW's, homeowners and computers.

 

[OSU Beavers]

I like your post because it is coming close to what I think is the only answer to the CU issues on data. Your one line comment is boilerplate. I would guess your using that statement in every one of your appraisals.

Actually, I only started using it 10 years ago for one new subdivision where the County Assessor had an "appraiser" who was particularly unskilled in measuring GLA. Identical floorplans (as confirmed by the plans, interviews with the builder, realtors and buyers) had widely different assessed living areas. Many of these homes have turned over once or twice in the past 10 years so the incorrect sqft found their way into the MLS.

A few years ago, AMCs started checking sqft against "public sources" then grabbed the torches and pitchforks if the appraiser had different figures. I am starting to use this CYA statement more and more.

 

[jay trotta]

Don't you sleep dude? If you really want me to go into detail, I request you answer the following questions. 1 -What is your favorite food? 2 -What was the first concert you attended? 3 -Do you think the Dentist, who hunted and killed Cecil the Lion, should be held accountable in Zimbabwe? Please answer the questions above and I shall honour your time with more of my own, i.e., provide you with a logical answer practiced by many valuation aficionados.

Am looking for that explanation; 1) Apples (I consider that a food groupie) 2) Jim Morrison 3) Possibly, I was there in the 60's - quite a place (blow guns in all), remember a lot about Ivory takings;
aficionados ? interesting

 

[bnmappraisal]

The GLA figures varied from MLS, building permit and public tax roll records. The most reliable number for each comparable was selected.

I like this too and have added a similar line!