UAD Q1 and Q2

[J Grant]

HSW, I agree overall, however, for your own protection when reviewing, if very apparent an OA made a wrong call on condition or quality, address it. You can state that since the appraiser was consistent, it did not affect value, however, due to incompatibly with construction ,/upgrades/age/photos/cost, the C or Q rating was not correct / inaccurate, however you want to state it.

I say this because typically a review has different sections asking about the OA and not all the questions relate to value. They also relate in different sections to the OA not being misleading and accuracy of data for comps or subject. If your review gets reviewed at some point, or the file is contested with review and OA both audited, and your review is deficient because you did not comment on an obvious wrong C or Q rating in an OA, your review can be dinged for failing to do so.

 

[Dale Smalley]

I find myself having to go back a re read them over and over again. I keep a laminated copy at my desk and also include the descriptions in the report. Never been stipped on a review about it. Sounds like fighting words to me.

 

[J Grant]

I re read them sometimes as well...slippery little critters!

 

[Dale Smalley]

Personally I like the Realtors description better.
Mint
Mrs. Clean lives here
Creampuff
Diamond in the rough
Handyman Special
Land Value

 

[Deleted member 128537]

HSW, I agree overall, however, for your own protection when reviewing, if very apparent an OA made a wrong call on condition or quality, address it. You can state that since the appraiser was consistent, it did not affect value, however, due to incompatibly with construction ,/upgrades/age/photos/cost, the C or Q rating was not correct / inaccurate, however you want to state it.

I say this because typically a review has different sections asking about the OA and not all the questions relate to value. They also relate in different sections to the OA not being misleading and accuracy of data for comps or subject. If your review gets reviewed at some point, or the file is contested with review and OA both audited, and your review is deficient because you did not comment on an obvious wrong C or Q rating in an OA, your review can be dinged for failing to do so.

I understand what you are saying, but the quality ratings are really slippery. I might think it is a Q3 and someone else may give it a Q2. Who is right? What if its a 2.5 and I decide to use Q2 and another decides to use Q3? Homes do not fit in nice neat little boxes. And then I have to get in a p....ing match with the original appraiser about a subjective judgment issue. When I do reviews I want objectivity to reign as much as possible. I want to be able to quantify the issues as much as possible. I can say "in my opinion it is Q3." But the other appraiser can say, "in my opinion it is Q2." All we have is an opinion, and opinions differ on subjective matters. Now if it is so obvious as the nose on your face then that's different. Someone gives a Q2 or Q3 rating to a Q5 tract housing then that appraiser should be called on it.

Same thing goes with C3 or C4 ratings. I have talked to appraisers that will give it a C3 rating if it is well maintained but looks like it came out of the 1970's for decor. Since in my opinion condition ratings are part of effective age I tend to go with a C4 rating. Who is right? Well I think I am because part of the C3 rating definition includes updating and rehabilitation. A C4 rating doesn't say that.

Anyway good discussion. That's how I do it now. I may change later the more I think about it. Thankfully I haven't had to do a review where the quality of construction issue was a big deal.

 

[J Grant]

It is subjective to a degree, and then there comes a point where one can easily say this is one category and not the other...some are judgment calls of course. agree overall with your thoughts on that in reviewing, it has to be clear cut and not merely a judgment call.

 

[Peter LeQuire]

Personally I like the Realtors description better.
Mint
Mrs. Clean lives here
Creampuff
Diamond in the rough
Handyman Special
Land Value

Bring checkbook, hammer and positive attitude.
(Insert between handyman special and land value.)

 

[Peter LeQuire]

It is subjective to a degree, and then there comes a point where one can easily say this is one category and not the other...some are judgment calls of course. agree overall with your thoughts on that in reviewing, it has to be clear cut and not merely a judgment call.

I find the M&S discussions of quality helpful, as it mentions specific components of houses that they (M&S) rely upon in setting the parameters of each quality level.

 

[J Grant]

M and S is useful, and then appraisers can look at materials and appliances on both the low end and high end at stores and even online. Look up Viking ranges and see how much they cost, or luxury/designer bath hardware. Buy an issue of Architectural Digest or look at it in library, same for catalogues from Sothebys. Getting familiar with very expensive architecture and fixtures and materials educates your eye to see the difference.