So Punk, Can You Prove Your Adjustments, Go Ahead Prove Them !

[residentialguy]

Pole barns are actually barns built by Polish immigrants. They tend to lean rather than stand straight like other barns because the immigrants were drunk and they looked straight to them.

 

[glenn walker]

The Los Angeles County Fairground has a Pole-Barn

 

[Joe Flacco]

The only method that works is bracketing.

I would say that any reviewer, underwriter, or supervisor that sees an appraisal report with the words "paired sales analysis" in it should just go ahead and throw that paper in the garbage.

Paired sales is great. What it usually gives you is a adjustment range. And then you can reconcile the adjustment within the range. Bracketing causes issues when including a not very similar property to bracket the element of comparison. When the item is bracketed with a property that is actually similar then it is basically demonstrating the paired sale in the sales comparison approach grid. So the whole point of bracketing if done correctly is to demonstrate a paired sale in the grid.

 

[Michigan CG]

15 acres instead of 29 acres.....
You do have imagination!!!!

This week is a house on 43 acres with a very old pole barn, dairy barn and grain silo.

 

[Michigan CG]

I would say that any reviewer, underwriter, or supervisor that sees an appraisal report with the words "paired sales analysis" in it should just go ahead and throw that paper in the garbage.

Bracketing is a simple form of paired sales.

 

[Ahhhh Yeahhhh]

Bracketing is a simple form of paired sales.

Not really. Paired sales is a theory that is never actually applicable as there are no true paired sales.

Bracketing is how the market actually values real estate. For a little more I can buy this bigger better house, or a little less I can buy that house with less GLA and no fence. Bracketing mimicks a more qualitative approach rather than the BS quantitative methods we use because its what is expected of us. Buyers and sellers use a qualitative approach when setting offering and listing prices.

The adjustments we place in the form are simply for the reader to understand our rationale for reconciliation and nothing more.

 

[jay trotta]

Got this email update on Fannie Changes from a very "classy" AMC:

"Yes, there may be revisions! FNMA, states "

the underwriter must determine if the opinion of value is adequately supported". *

Your report should be demonstrating that the scope of work conducted was sufficient to produce credible results.

The following is taken from the FNMA's web site which provides the appraiser and lender, Fannie Mae's expectations and guidance regarding the Analysis of Adjustments.

Analysis of Adjustments:

Adjustments must be market based (the value the market has proven for difference in properties). "

I came from a science background, where the word "proof" meant something. Do you think adjustments can be "proven?"

So, If there is no "Proof", No Adjustments are Warranted ?? (hmmm - interesting) and the UW would have essentially a great job position, as the report would meet FNMA compliance.

 

[Ahhhh Yeahhhh]

If you bracket properly, the adjustments are just for show.

 

[Terrel L. Shields]

why anyone would build a barn just to store poles..

Is that a Polish joke?

 

[Ahhhh Yeahhhh]

I have to store my pole in a barn. Occasionally, there is a need to leave the barn door open.