Reconsideration of value / Appears back to business before crash

[Deleted member 80407]

Has anyone else been receiving these? In the past couple of weeks, I have received 3 which all were all nonsense.

One of the request's was for a small 2-story house located in Pinal County. I was asked to review 5 comparables which 3 were of one story ranches and 2 being of 2-story houses with inground pools. It appeared that the author of the reconsideration of value was trying to influence my opinion of value.

Another request was for a 2 story renter occuppied house in Pinal County. This was very different RCV in that it included MLS listing sheets & tax records. The author cited that my adjustment for difference in appeal for a purchase between a renter occupied house and a owner occupied house does not adhere to appraiser certification #4. The difference in sales prices of my 3 primary sales (renter occupied) and sales 4 &5 (owner occupied) as well as listing comps 1 & 2 clearly show the difference. The author also supplied 3 listing sheets of properties to be considered of which 2 of the properties were fairly similar but with inground pools having different appeal as well as the typical buyer being different. The 3rd sale was that of a similar 2 story but an REO transaction. I am wondering if anyone has ever received a reconsideration of value with listings & tax data?????

The 3rd request (from a different client) was for a 1 story ranch with an inground pool in Pinal County. The author was asking for review of 2 sales which one of the sales was already in my report. The author made a typo error on the address of this sale (stated 657 when address should be 5657). The other sale was of a similar property, however, was located within a subdivision without a HOA having more appeal than that of the subject location within a HOA. The author was also demanding that I change the BR count for Comp 4 from 4BR's to 3BR's. Please note, listing sheet reports 4BR's.

 

[Mike Kennedy]

http://appraisersforum.com/forums/t...that-are-not-comps.206564/page-3#post-2581338

 

[erockinaz]

Has anyone else been receiving these? In the past couple of weeks, I have received 3 which all were all nonsense.

Yes, I've had two in the past two weeks, after only having one in the previous 6 months. The first was on a sale that was priced above the market. The agent met me at the home and said several times that she was worried about it appraising for sales price. Then I got hit with the ROV that she initiated, with the same crappy sales she gave me at the house. She wanted me to use one that backed to a lake (in Ocoltillo Lakes), one in a gated community, and another from Fulton Ranch, all superior to the subject. Never mind that four of the five comps I used were from the same sub and two model matches.

The second was a refi, and the homeowner initiated the ROV. She found some 'comps' on Zillow, but several were more than 9 months old and the one she really insisted that I use backed to a mountain preserve. I included it in the appraisal, but after the view adjustment, it didnt affect the appraisal at all.

I heard from a Realtor friend that his office was being told by their broker to be more aggressive with ROVs and, possibly complaints to the board, on appraisals that 'kill the deal'.