Shoddy Appraisers Are Rampant

[AppraizinAZ]

I just watched an appraiser do my neighbors house (close friend) which is being refinanced. I was pulling out and he was taking photos of the front and street. He had an old camera in his hand, one sheet of paper in the other, he went to the front door and I watched as my neighbor let him in. I was thinking, no pen, no measuring tool? I called my neighbor an hour later and asked her how it went. She said he had an old camera, took no notes, took photos of each room, didn't ask any questions, didn't measure was abrupt and left. He was there for about 5 minutes! He did say he'd been an appraiser for about 4 years because she asked him.

When she purchased the home about 12-13 years earlier, it was much larger than the county assessors drawing. One of the girls from the office I used to work at did the purchase appraisal because she asked me to measure it to be sure. (there have been no appraisals or measures since its purchase so he has no prior knowledge)

Wonder what's gonna happen? BTW the sketch hasn't been updated in the assessors for GLA. I told her to call her lender and let him know.

Either I'm doing wayyyyy too much work at inspections or shoddy appraisers are rampant!

 

[bnmappraisal]

He had an old camera in his hand, one sheet of paper in the other, he went to the front door and I watched as my neighbor let him in. I was thinking, no pen, no measuring tool?

Old camera - as long as it's functional, who cares. Not a deal breaker. We're not "professional photographers" looking for a perfect shot

No pen? strange, but maybe he writes up his notes later based on the pics and his "recollection" of the property again, not a deal breaker

No measuring tool? Well, at least that you saw, but "5 min" at a property, doesn't sound like he measured (although I did measure a 600+ sf SFH today in under 1 min (length x width ... not too difficult)

didn't ask any questions, didn't measure was abrupt and left. He was there for about 5 minutes! He did say he'd been an appraiser for about 4 years because she asked him.

4 yrs or 40 years ... doesn't matter ... again, not a deal breaker

My deal breakers ... (my bold).

You mention it was a refi. ALL clients I have currently require me to measure the subject as part of their SOW for the assignment. I wouldn't doubt this refi is that different.

Didn't as any questions? Why not? that seems odd to me, but Skippy probably doesn't have the time to ask any

Was abrupt and left ... sounds like Skippy to me

 

[AppraizinAZ]

Old camera - as long as it's functional, who cares. Not a deal breaker. We're not "professional photographers" looking for a perfect shot

No pen? strange, but maybe he writes up his notes later based on the pics and his "recollection" of the property again, not a deal breaker

No measuring tool? Well, at least that you saw, but "5 min" at a property, doesn't sound like he measured (although I did measure a 600+ sf SFH today in under 1 min (length x width ... not too difficult)


4 yrs or 40 years ... doesn't matter ... again, not a deal breaker

My deal breakers ... (my bold).

You mention it was a refi. ALL clients I have currently require me to measure the subject as part of their SOW for the assignment. I wouldn't doubt this refi is that different.

Didn't as any questions? Why not? that seems odd to me, but Skippy probably doesn't have the time to ask any

Was abrupt and left ... sounds like Skippy to me

I don't care about the camera either,... but it kind of foreshadows...can't wait till they find out how much larger it is than they think. I think it was around 400SF larger if I remember...but he's in a hurry! I evidentally do wayyy too much work at the property. I don't rush inspections, but I'm very thorough.

 

[ucbruin]

I just watched an appraiser do my neighbors house (close friend) which is being refinanced. I was pulling out and he was taking photos of the front and street. He had an old camera in his hand, one sheet of paper in the other, he went to the front door and I watched as my neighbor let him in. I was thinking, no pen, no measuring tool? I called my neighbor an hour later and asked her how it went. She said he had an old camera, took no notes, took photos of each room, didn't ask any questions, didn't measure was abrupt and left. He was there for about 5 minutes! He did say he'd been an appraiser for about 4 years because she asked him.

When she purchased the home about 12-13 years earlier, it was much larger than the county assessors drawing. One of the girls from the office I used to work at did the purchase appraisal because she asked me to measure it to be sure. (there have been no appraisals or measures since its purchase so he has no prior knowledge)

Wonder what's gonna happen? BTW the sketch hasn't been updated in the assessors for GLA. I told her to call her lender and let him know.

Either I'm doing wayyyyy too much work at inspections or shoddy appraisers are rampant!

"I told her to call her lender and let him know."

It would appear that you and your neighbor are rather friendly.....
So who was the lender???
Come on, we all know you asked!!!

 

[CindyR]

Rampant. I recently helped some friends ROV their VA refi. I won't comment on what was all wrong with the original but it was horrid. still trying to figure out how to offer my review services to VA to help them evaluate all the new folks they added to the panel

 

[bnmappraisal]

but it kind of foreshadows

Not really ... that's been going on for years

I've been at this 12 yrs now (CR since 2009) and I can't tell you the number of times an agent or homeowner has said to me "wow, the last guy didn't measure!"

I evidentally do wayyy too much work at the property.

I don't think you probably do. It sounds like you probably do a professional job/service, like I do for an inspection
(measure, observe, photograph, take notes, talk with the owner/agent, etc)

 

[Gobears81]

Maybe the company that he works for has an old file on the property, which would negate the need for measuring twice unless there's been an addition made, etc.

 

[Overimprovement]

Rampant........but only because lenders let them get away with it.

Is value where we need it? Yes?

Done. Nothing to see here folks.

 

[Overimprovement]

And apparently all Fannie's CU does is normalize the adjustments and boilerplate across thousands of appraisers.

Instead of cultivating creative and sound reports, it penalizes them for being different than the 'norm'.

 

[Tom Woolford]

I just watched an appraiser do my neighbors house (close friend) which is being refinanced. I was pulling out and he was taking photos of the front and street. He had an old camera in his hand, one sheet of paper in the other, he went to the front door and I watched as my neighbor let him in. I was thinking, no pen, no measuring tool? I called my neighbor an hour later and asked her how it went. She said he had an old camera, took no notes, took photos of each room, didn't ask any questions, didn't measure was abrupt and left. He was there for about 5 minutes! He did say he'd been an appraiser for about 4 years because she asked him.

When she purchased the home about 12-13 years earlier, it was much larger than the county assessors drawing. One of the girls from the office I used to work at did the purchase appraisal because she asked me to measure it to be sure. (there have been no appraisals or measures since its purchase so he has no prior knowledge)

Wonder what's gonna happen? BTW the sketch hasn't been updated in the assessors for GLA. I told her to call her lender and let him know.

Either I'm doing wayyyyy too much work at inspections or shoddy appraisers are rampant!

I've done the same thing...........on houses I've done within the last 2 or three years. All my data collection is on an iPad so I verify my previous notes and take new pictures, ask about upgrades and remodeling and hit the door. So yes, I can be in and out in 5 min very occasionally.