Using MLS Photos

[Adios]

Sorry - Try Again!

The SOW doesn't use the word VIEW, it uses the word INSPECT. And furthermore, it doesn't distinguish what type of inspection. Notice in regards to the subject the type of inspection is dictated, but not for the comps. Please note that the word VIEW is not used. It does not say a virtual inspection of the comps is inadequate.

This sounds more like a Monty Python meaning of life discussion.

 

[Adios]

Wait until Ms Trice gets here and supposes that folks with weaselly predispositions are drawn to the appraisal field. Its sad that so many folks would rather parce words rather than do what they know they are supposed to do. It gives the rest of us a bad name, and pizzes me off to no end.

This discussion simply proves my point that due diligence is the most important part of the appraisal process. Evidence of a license does not denote common sense, intelligence or ethics.

 

[Adios]

If that property sold for so "little" it does not fit the definition of market value and is not a comparable and just a sale.

You didn't just say that, right?

 

[Mike Garrett RAA]

This thread is absolute proof you don't have to have common sense to be an appraiser. It reminds me of the argument about changing the word inspection to "observation" or even worse using verbiage that says..."visited the property".

MLS photos, IN MY MARKET, are certainly a benefit for the appraiser...especially 15 or 20 that show nearly every aspect of the property the appraiser is using as a comparable sale. They do not; however, take the place of a personal observation of that property BY THE APPRAISER which may disclose much more information about the property, location, neighborhood, and amenities.

As far as a waste of time...reading a thread that is 300+ post long ranks right up there with watching Honey Boo Boo or the Kardashians!

Attention moderators....PLEASE, PLEASE, PLEASE close this one.

 

[djd09]

You didn't just say that, right?

Joan the definition of market value is the most PROBABLE PRICE. If i have 10 sales between 140,000 to 160,000, a 80,000 outlier sale is not probable. The next lesson there will be a charge.

 

[Michigan CG]

Joan the definition of market value is the most PROBABLE PRICE. If i have 10 sales between 140,000 to 160,000, a 80,000 outlier sale is not probable. The next lesson there will be a charge.

When you made the original statement I decided it wasn't worth my time explaining it to you. But please cool your jets, you are digging a deeper hole. You aren't giving anyone a lesson.

 

[djd09]

You aren't giving anyone a lesson.

Enlighten me. Tell me how outliers fall into the most probable. Step in

 

[Adios]

Joan the definition of market value is the most PROBABLE PRICE. If i have 10 sales between 140,000 to 160,000, a 80,000 outlier sale is not probable. The next lesson there will be a charge.

You aren't appraising the comps. You are verifying the transactions including the terms. It very well may be an outlier . But the example given wasn't really an outlier. It required an adjustment. Thediscussion was inspecting comps. Had the appraiser not driven by that comp one might not have known why the comp sold so low.

 

[residentialguy]

Pete and I agree, do what you say you signed saying you did. When Pete and I agree it is an absolute, like gravity and that the sun rises in the east and sets to the west.

Who are you Bill Clinton? Maybe it depends on what the meaning of is is?

These had me rolling.

 

[djd09]

But the example given wasn't really an outlier.

If it wasn't a outlier maybe it was just a bad comparable sale selection?