Revision Requests -having To Explain Peer Appraiser's Data In My Reports?

[Tom Woolford]

I agree....

But playing devil's advocate here.....

Doesn't it seem "logical" that having the same data set, adjustments made by different appraisers would be nearly exact to one another?????

At least in the mind's of the general public.....

Too many variables. It all depends on if the 1st appraiser even did an analysis or just pulled it out of his nether regions (typical). If actually doing an in-depth analysis, data selection will affect it: how wide is GLA bracketed, were major features the subject has included in the data set analyzed; garage count; age etc. When I select sales for analysis I bracket GLA 200 s.f. either side of the subject. Age, 5 years either side. If it has a pool, I don't use sales that don't have pools. All is explained in the addenda. Both appraisers would only get the same adjustment factor if using the EXACT same data set and actually DOING a statistical analysis.

 

[Terrel L. Shields]

ying to put a little more pressure on appraisers when the value is below the contract price.

Statistically, I bet we could prove this to be pressure that violates appraiser independence. A class action, say 1,000 appraisers, and a top lawyer...I can dream can't I?

 

[Eli]

I agree....

But playing devil's advocate here.....

Doesn't it seem "logical" that having the same data set, adjustments made by different appraisers would be nearly exact to one another?????

At least in the mind's of the general public.....

That would depend on the methodology utilized. Similar to how some people use a methodology of playing devil's advocacy.

 

[Sandra Koutsopoulos]

If appraisers regularly refute the CU complaints re: other appraisers' adjustments, so that the preponderant result is the recognition that the CU nit-picking is virtually worthless waste of everybody's time, the CU would lose its influence, IMO.

 

[J Grant]

I doubt they will dump CU since they spent $ on it would lose face. Which means we are stuck with it.

I use a generic comment that I can not address the other appraiser's adjustments since I did not have access to their work. ( polite way of saying doh) I then re state (again)how/why I adjusted as I did.

Maddening, frustrating, time wasting...

 

[ucbruin]

That would depend on the methodology utilized. Similar to how some people use a methodology of playing devil's advocacy.

"That would depend on the methodology utilized."

Why????

 

[Eli]

"That would depend on the methodology utilized."

Why????

If it is a Recognized Technique or Method, the Methodology is good. If not, the Methodology is Bad.

 

[ucbruin]

If it is a Recognized Technique or Method, the Methodology is good. If not, the Methodology is Bad.

Aren't we assuming that appraisers are employing "recognized technique"????

 

[Eli]

Aren't we assuming that appraisers are employing "recognized technique"????

That would be an extraordinary assumption to some. Especially some hiring appraisers. I could go in to bad mentors too as well as bad clients.

 

[ucbruin]

Too many variables. It all depends on if the 1st appraiser even did an analysis or just pulled it out of his nether regions (typical). If actually doing an in-depth analysis, data selection will affect it: how wide is GLA bracketed, were major features the subject has included in the data set analyzed; garage count; age etc. When I select sales for analysis I bracket GLA 200 s.f. either side of the subject. Age, 5 years either side. If it has a pool, I don't use sales that don't have pools. All is explained in the addenda. Both appraisers would only get the same adjustment factor if using the EXACT same data set and actually DOING a statistical analysis.

I agree with you (and JG).

I don't know about the 2 of you, but for me 90%+ of my appraisals are pretty much based on data prior to subject inspection.

And, if I assume correctly, this would hold true for most appraisers.

Again, using your method (I do the same with some minor differences) then employing the same data set, a non-appraiser would believe that the adjustments, based on technique/method/etc. employed by all appraisers would be the same and the end result would be the same.

I can't blame the non-appraiser for thinking the same....