Sale History

[Joe Flacco]

I always report the prior sale. It is good information.

 

[J Grant]

I always report the prior sale. It is good information.

?? Why is a 10 year old sale relevant as good information?

 

[Tom D]

I used to report old dates, since it reminded me of my long long time appraising. Kinda reminiscing about how inexpensive things were long ago. But that's a sure sign that you're getting old. Hey, do you remember when mcdondalds was $.10. To increase my production time when i was really busy, i gave up those early years on the grid.

 

[Joe Flacco]

Comp 1


Comp 2


Comp 3


Comp 4


Comp 5




When the publics general consensus is that prices are much higher than 10-15 years ago, the prior sales can help support your value that no one is going to be happy with.

These are all two bedroom condos in the same building. The neighborhood as a whole does not look like this, but in this building, 2025 prices are the lowest it has ever been. Comps 1-3 are 2025 sales and they are all selling for less than what they sold for 10-15 years ago. Comps 4 and 5 are 2024 sales and even as of 2024 prices were holding up.

It is useful and relevant information to me.

 

[George Hatch]

I use the parallels in the past to connect to their recent. If the prior for S#1 occurred in the same time frame as the subject's prior sale we can consider how they related to each other back then.

 

[Surf Cat]

These are all two bedroom condos in the same building.

Is comp 5 an end unit or upper floor? What happened to comp one? Pretty wide swing from the two previous sales.

 

[Bobby Bucks]

I also report all future sales.

I only consider that for prospective reviews, I believe the OP is performing a retrospective review.

 

[John Hassler]

But that's a sure sign that you're getting old. Hey, do you remember when mcdondalds was $.10.

Or when you would oooh and aaaw when the “billions sold” number out in front at the Golden Arches would get changed?

That reminds me, I need to see if my SS check has hit.

 

[Joe Flacco]

Is comp 5 an end unit or upper floor? What happened to comp one? Pretty wide swing from the two previous sales.

Comp 1






This is the listing history for comp 1. Prices are just going down.

Looks like comp 5 is the same plan and tier as comp 2. Comp 5 has a renovated kitchen in 2019.

This is not from a appraisal report. Just a random example.

 

[Fernando]

USPAP minimum is 3year history of the subject. Optional if a more dated past sale is relevant to include. Some appraisers include every past sale, which Imo is inane -in the camp of those that add pages and pages of boiler plate to pad volume.

Optional? Why would appraisers put such information if not really relevant.
The reason is that the old appraisal I'm looking at has many details such as dating back prior sales and yet chose too many comps and many not in the neighborhood.
The characteristics of subject was thorough as I would imagine UAD 3.6 would require but failed in getting good comps for analysis.
The much fluff same as in UAD 3.6 is too much and doesn't make the report better.