Stip to add specific comp to grid or a different comp within 1 mile of the subject

[Zoe]

I would say I hit contract price maybe 25% of time max (don't hold me to that). I am usually always over or under contract price.

 

[Zoe]

On refinances, I am similar. If owner thinks they would ask $? I am usually over or under what owner thinks they would ask for their property if they were to put it on the market.

I view owner as a market participant. It is important to me to know their opinion. I already know the owner and/or borrower on sale/refinance will get a copy of my appraisal.

I don't discuss my appraisal with them without my client being involved. If they are my client? We can talk freely.

If they have a problem with it, I will say let me look at that. Please let my client know.

 

[Tom D]

if that unused sale was originally used in the report with a lower adjusted value, it doesn't mean it is the cornerstone of values. but now with a lower end range you could have just said the sale price was the value. nobody would argue with you that sp should be lower, or even higher. i have done that, in that sometimes you have a lower adjusted sale price comp that is staring you in the eyes. i always think it's better to bring it up, but that sale may be off for some reason. here i looked at it, but there are other sales that say it could be higher. never a question asked. and always easier to do when you are typing it, then later re opening it. i think you did your report fine, but there is too much data easily available for everyone to be an expert. however, CU showing unused sales is the big whip to hit you with.

 

[Zoe]

if that unused sale was originally used in the report with a lower adjusted value, it doesn't mean it is the cornerstone of values. but now with a lower end range you could have just said the sale price was the value. nobody would argue with you that sp should be lower, or even higher. i have done that, in that sometimes you have a lower adjusted sale price comp that is staring you in the eyes. i always think it's better to bring it up, but that sale may be off for some reason. here i looked at it, but there are other sales that say it could be higher. never a question asked. and always easier to do when you are typing it, then later re opening it. i think you did your report fine, but there is too much data easily available for everyone to be an expert. however, CU showing unused sales is the big whip to hit you with.

Yeah. One sale don't make a market.

 

[Zoe]

Why in the world GSES are not required to share the data licensed appraisers provide them?

I will never know...

I am old enough to remember that GSES were going to pay appraisers for their proprietary rights and somewhat like a patent on the appraiser's property.

Similar to copyright law in some ways. I remember well.

Internet was NOT near as big when that happened. It would have exploded on internet at the time it happened if internet was as big then as now.

 

[Zoe]

I majored in marketing. I know antitrust laws are being broken with other laws being broken.

Appraisers just can't get it together to fight City Hall.

 

[Zoe]

Appraisal Institute was black sheep at one time..

Now they are the white sheep. LOL

They know antitrust laws are being broken. Don't care.

Money honey.

 

[Zoe]

A MAI I worked with a long time always said wait til the next downturn.

That's when things change. Appraisers could do it before then but it would take a bunch of legal fee money and appraisers would be fighting some of their flock that are benefiting from the money in the current system.

 

[TerryRohrer]

if that unused sale was originally used in the report with a lower adjusted value, it doesn't mean it is the cornerstone of values. but now with a lower end range you could have just said the sale price was the value. nobody would argue with you that sp should be lower, or even higher.

This is advocacy, not appraisal practice.

 

[Zoe]

This is advocacy, not appraisal practice.

I advocate for public trust. I know I upset many market participants. I have upset a bunch of people in my life.

My skin is pretty thick.