Soon to be replacing 'Comp Checks'

[Mike Garrett RAA]

1.5% per month? Wow, that is declining. IN MY MARKET, comparing Jan - April 2007 to Jan - April 2008 we have experienced a 7.5% drop in average sales price. If using just existing homes, the decline has been 7.2%

One month does not a market make; however, comparing April 07 to April 08, the decline in median sales price was 3.9%. Listings have declined, number of sales have declined, total inventory has also declined, as well as number of real estate agents which is usually a harbinger of a declining market.

So, are we in a declining market? Depends on an analysis of the neighborhood, MLS marketing area, or subdivision. Not all are doing the same thing.

 

[Fred]

"Can you tell me if this (the Subject's) market is a declining market?"

I'm not kidding, I have received about 5 of these calls alone this week,

So, what's the problem? Aren't you are real estate analyst? So analyze.

 

[xmtpedprl]

You're joking, correct?

I will do no such thing just to get an order. I probably would for a sincere, very good client, but for a call in out of the blue?

Would you?

Dave...

 

[Kevin Mc]

That's not only funny, but it WORKS. I know, I know, folks (more specifically McNamara) will call me this and that, ..

Exactly what have I called you Dave? I don't want some random rhetoric. I want to know specifically what I called you. You make an accusation I would expect you to back it up with fact.


McNamara

 

[xmtpedprl]

You're a belligerent individual who spawns belligerence in others, and that's primarily what I mean. You stop at nothing to interject any emotional response you so desire (you fall back on your lengthy resume to justify such actions), and that to the point of derailing any thread you see fit. Will you again prove me correct in this one?

Furthermore, I am answering only because I desire, not because you're demanding. Your demands, much like your assessments of myself and my business model, are meaningless to me.

Dave...

 

[Kevin Mc]

THanks for the response Dave. So in fact I have never called you anything. Carry on....

 

[Brad Ellis]

Dave,

You're joking, correct?

I will do no such thing just to get an order. I probably would for a sincere, very good client, but for a call in out of the blue?

Would you?

Dave...

Actually, yes I probably would. In the markets I used to work in- some are the very same ones you now work in, I had already analyzed such data. I did it when I did my general market research for other assignments.

So, if a potential new client asked me if the market was declining in Round Lake Beach and I knew that, I'd just say so- i.e. the general market is in decline. However, I'd also be quick to point out that a declining market can exist next to one that is not, and that particular property types and price points may show conflicting data so I'd have to actually appraiser the subject to know for sure.

OF COURSE, you already know that these calls may well just be fishing for an appraiser who will just lie for them. But it is possible that one of them might take a flyer and pay yo for an appraisal even knowing of a general market decline. May not be likely but is possible.

Brad

 

[Pamela Crowley (Florida)]

Brad, IMO, you have been out of the fee appraiser world so long now you no longer understand how it really works. You would end up wasting the majority of your time trying to appease those that are trying to rape you, except you would probably be smart enough to have removed yourself from the mortgage broker / lender appraisal client world about this time because they are not worth dealing with ...

Oh!... you did that already... and BEFORE the MB/lender clients became not much more than a bunch of thugs. :new_smile-l:

 

[Fred]

You're joking, correct?

I will do no such thing just to get an order. I probably would for a sincere, very good client, but for a call in out of the blue?

Would you?

Dave...

Not joking. I think the problem is one of perception. It's not that I would do a market analysis FOR and order. A request for a market analysis IS an order. Instead of being shocked, why not just tell them how long it will take and how much money you need.

Adept, you have to appreciate the irony. Appraisers are supposed to be knowledgeable of basic economics. And yet this forum is overrun with posts from appraisers who seem completely confounded every time the market throws a little curve ball in the form of a request for free service. I accept pretty much all requests, but I do have a minimum fee based on one-billable hour. Last time I took my computer in for repairs, I notice the tech had exactly the same policy.

 

[Pamela Crowley (Florida)]

Not joking. I think the problem is one of perception. It's not that I would do a market analysis FOR and order. A request for a market analysis IS an order. Instead of being shocked, why not just tell them how long it will take and how much money you need.

Adept, you have to appreciate the irony. Appraisers are supposed to be knowledgeable of basic economics. And yet this forum is overrun with posts from appraisers who seem completely confounded every time the market throws a little curve ball in the form of a request for free service. I accept pretty much all requests, but I do have a minimum fee based on one-billable hour. Last time I took my computer in for repairs, I notice the tech had exactly the same policy.

Yup.

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