Sale History

[Fernando]

Comp 1
View attachment 106940
View attachment 106939




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.

What's most releveant is in 2025. Price was listed too high and we see high list price was dropped to near market value.

 

[Tom4value]

The minimum requirement for the subject is 36 months. Report older if it is relevant. For instance, in the form, I check “no” for 3 years and leave date and price block empty. In the comments, I write, “It should be noted that the subject property was purchased by the current owners on xx/xx/2025 for $zzz,zzz in an arms length transaction, just over three years ago. The increase from that sales price and the current market value is typical for the time period.” This lets the reader/underwriter know I have reconciled the sales history.

 

[Fernando]

Speaking of 3 years, in one of the boilerplate addendum, I noticed there's a statement that I haven't done an appraisal service on subject in past 3 years.
Why 3 years? If 3 years and 1 month, it's still relevant to disclose. Real appraisers would have no time limit to disclose if ever appraised subject in the past.

 

[Tom4value]

Speaking of 3 years, in one of the boilerplate addendum, I noticed there's a statement that I haven't done an appraisal service on subject in past 3 years.
Why 3 years? If 3 years and 1 month, it's still relevant to disclose. Real appraisers would have no time limit to disclose if ever appraised subject in the past.

Technically, no. For good appraisal practice, yes.

 

[George Hatch]

Speaking of 3 years, in one of the boilerplate addendum, I noticed there's a statement that I haven't done an appraisal service on subject in past 3 years.
Why 3 years? If 3 years and 1 month, it's still relevant to disclose. Real appraisers would have no time limit to disclose if ever appraised subject in the past.

 

[Terrel L. Shields]

You must do a three year sale/transfer history for the subject.

In a government appraisal some agencies want 5 year histories.

once you come to a conclusion you gots to defend it because otherwise everyone is going to walk over you.

I am always right and never lie.

do you remember when mcdondalds was $.10.

I remember when they were 4 burgers for a dollar...fries were 10 ¢.

Why would appraisers put such information if not really relevant.

Half the URAR is filled with stuff that does not impact value. That last one? The original land patent from Jehu Chastain dated in 1854... now that's history, what Realtor do I call to confirm it was on the MLS?

 

[Fernando]

View attachment 106961

Yes that's the comment. Is that from USPAP?
I haven't noticed it until I read it recently. Why stop at 3 year? Real appraiser makes decision how far back? Silly rule.

 

[sputnam]

Speaking of 3 years, in one of the boilerplate addendum, I noticed there's a statement that I haven't done an appraisal service on subject in past 3 years.
Why 3 years? If 3 years and 1 month, it's still relevant to disclose. Real appraisers would have no time limit to disclose if ever appraised subject in the past.

It's three years because that is the requirement. If you choose to report that you provided services 37 months prior to accepting the assignment... you can.

 

[Joe Flacco]

What's most releveant is in 2025. Price was listed too high and we see high list price was dropped to near market value.

That is true, but we also provide an opinion of the price trend.

When is the last time you checked the declining box? Have you ever?

I have no idea how it impacts decision making on the clients end, but the vibe I get is that some on that end don't like it.

 

[Fernando]

That is true, but we also provide an opinion of the price trend.

When is the last time you checked the declining box? Have you ever?

I have no idea how it impacts decision making on the clients end, but the vibe I get is that some on that end don't like it.

Listing price can be listed over market and seller too greedy to lower price down. We should see the history and see mindset of the seller.
I've been watching this house asking $7,000,000 since Oct 2025. I learned that it's a trust sale and one of the siblings is living there rent free and doesn't really want to sell.