This Skippy Masquerade

[Tudor]

I don't disto, tape may take longer, just not comfortable going electronic on that route.

The majority of my time is spent sifting through all the data, there is a lot more BS to sift through these days then in the past. Also not every market in my area is declining, that takes some time to figure out.

When I say "skippy" I am talking about the ones that use only MLS photo's, sign as did inspect (when they never left their office), do comp. checks, gives a heads up if value is not going to be there, accept contingent assignments, ignore important issues, etc... I know there will be some that can do competent, ethical work quickly.

 

[Caligirl]

Why would you DRIVE to get new listings? In our area, realtors have the listing on the MLS within 24 hours of taking the contract. Usually before the sign is in the yard.

As I was taught to do.... always take a spin around the neighborhood. Has something burned down? Is there a remodel underway? A new lease comp? Vacancy? Brand new listing? Etc.

 

[OSU Beavers]

This is a new product. A "Dashtop Appraisal".

I suggest reading an Illustrated Guide to the URAR By Henry S. Harrison.

 

[Frederick]

I just can't slap things together like that. I need time to review and digest all I have observed and the data I have gathered. When I am done I want to know I considered all the possibilities and feel good about the outcome and construction of the analysis. I don't like surprises after the fact.

 

[Bill_FL]

I can certainly understand where he is coming from. I have always been out in front, technologically speaking, in my office. I had digital mapping, photos, plats, etc in 1992. I was told by other appraisers that I was nuts relying on them. Believe me, the first couple of hundred, I double and triple checked. Found out the computer was much more accurate than I was doing those things by hand. Digital photos all by themselves sped up the process by a ton. Remember back when the cameras were $2000 for a Dycam? I had 2 or 3 of them back then.

Today, I can sit in front of my computer and watch the sales that closed yesterday come up in MLS. Typically, the agents in this area take tons of photos, interiors included. I like that. I can get a pretty good sense of what John Doe, Agent calls "completely updated and ready for your final touches" (usually means they painted). I can pull the deed and plats in seconds and the broker is a phone call away. I can look at the hotsheet for all the new listings, and their photos. I use a disto, laid the tape down years ago. I have not found a property, residential or commercial, that I could not accurately measure with a disto. Ran with a pocket PC for a while to let the bluetooth draw the building in the pocket PC Apex. I stopped doing that, because at the time the screens were just way to flipping small to see any detail. Tablets were not around yet. (okay, a couple were but so expensive at the time, was not worth it for me)

As Caligirl said, nothing beats driving the area. I agree. I like to ride around the neighborhood, see what is happening. My own little subdivision appears to be turning around, 10 sales in the last year, only 3 listings. 3 months ago, there were like 12 listings. If you drive around, you will find that most are now FSBO. Gave up on the agents and put it on the market by owner. You wont find that in MLS.(unless you include looking for withdrawn and expired - which I would bet not a lot do).

To the poster who is getting beat up right now over figuring out how to be efficient. Go for it. If you are developing credible reports forget what all the naysayers here are telling you. Every appraiser I know thinks there is one way to appraise, theirs. If it takes you 10 hours less than they take, you are cutting corners, if it takes you 10 hours more than them, you are slow and dumb. In a year or two, they will catch up to where you are now, then tell everyone how good their newest toy/methods are. But don't worry, you will still be out front, and still be cutting corners in their eyes.

 

[Kevin Mc]

Bill, you have stated things that I'd imagine every appraiser has access to. None of that is cutting edge technology and by your own admission it has all been around for quite some time. Mr. Roberts has stated due to all the new technology it has "speeded up the process". I don't find that statement to be true. Sure things like digital photos, public record access online, numerous additional data sources have aided and saved time over the years but the bottom line is a typical report is taking longer than ever these days. Between the numerous data sources, client's requirements and the serious need to research market places and CYA, all the technology isn't going to speed up the process. The process is taking longer these days and technology has nothing to do with it. If one is still churning and burning reports in the same manner they were doing it 5 years ago something is amiss and corners are certainly being cut.

 

[Marcia Langley]

I agree. When one talks about technology making things faster, they need to be clear on the time frame they are talking about.

Just like comparing market trends, if you compare today's values with values 15 years ago, it's a whooping gain. If you compare to last year's values, it's a different story.

Even people who have all the latest bells and whistles and are in the same market disagree on the sustainable volume with credibility that is possible for one appraiser.

 

[Bill_FL]

Kevin,

Not sure how you operate, but do you have your appraisal software set up to download all sales everyday into your database? Do you run multiple monitors so you can simply drag and drop stuff from one screen to another into your appraisal reports? The fact is that some people simply are faster than others. Some just plain ole' think faster than others.

I export raw market data from MLS into excel to do market trending. Since I all ready have the base model set up, updating it is fast and simple. I do not have to spend hours on each appraisal analyzing the market - I all ready have the data and the analysis tool. I spend maybe 2 hours a week updating the data and segmenting it.

The thing is, that on this forum, if someone is just able to simply analyze data faster than others, that person is automatically considered to be doing an inferior job. My question is, why is not the other person just considered slow? Time and quality are mutually exclusive. They have nothing to do with each other. My honest opinion is that if an appraiser has the data access I described in my first post, all at his/her finger tips and can not get a residential appraisal out in 24 hours, 99% of the time (from seeing the property) that person is probably not very efficient at what they do.

Now, in non-disclosure states and people who appraise in areas like Ray Miller's area, all bets are off. I have no idea how long it would take me there because I have never had to do those kinds of areas.

 

[Bill_FL]

You know, there was something nagging at me about this thread, and some others that have been on here recently, that I just have to say. To those who want to talk about how much more time it takes to do your research in "today's market" - you are flat wrong. This is the kind of research you were supposed to have been doing all along, not just checking the "increasing" box.

 

[Ken B]

Periods of instability or declining values require more thorough analysis due to the risk associated with those conditions.