Using MLS Photos

[Peter LeQuire]

So the realtor is misrepresenting the property. Doesn't surprise me.
Sorry misread your post.
Then it is not useful for that one.

Which emphasizes the necessity of inspecting the comps reasonably currently.

 

[Peter LeQuire]

you drove by it three times in past, seems to satisfy the requirement but that is your call

"Driving by" doesn't satisfy the requirement to "inspect". Or does it?

 

[J Grant]

Driving by implies at least an inspection from street, which is what the cert says. I thought that would be obvious but see now it wasn't.

 

[djd09]

Isn't this horse dead yet? Fannie says you do. got it. or because i'm such a scared cat i should look for other work. got it. socialized appraising what a wonderful world. drove by this property and look just a tee pee

 

[Peter LeQuire]

I've probably "driven by" 90% of the houses in this county that were built prior to 2015. That does not imply that I have slowed down long enough to have sufficient knowledge about their exterior to identify value related differences they might (or might not) have when compared to something I'm going to appraise next month. I would differentiate that from my looking at a house that is actively listed, or that has a "pending" sign in the yard. I'll take a picture of that house, and perhaps look at a listing brief - in which case, I believe I've satisfied the SOW's requirement to "inspect' the house (and FWIW, as of today, I don't have any client who demands the comp photo be taken after the date of the assignment).

I use "inspect" for what we're required to do because "drive by" implies something less than "inspect". And, I get that the appraisers who participate in this forum know what is meant by "drive by": but this is a public forum that non-appraisers look at and form opinions about how appraisers conduct their business. And, as you are well aware, if you write anything here, you're probably going to be parsed.

 

[Functional Obs]

First of all I think most of this photo stuff was created before there were MLS photos. I can remember when I first started appraising our MLS consisted of a book with black and white photos of listings and another book for sales. Very little information. You had to figure out some way to get a photo. Taking an original photo was the only way to do it. Then I remember when the MLS first came out on line. There was just one photo of the house. Then suddenly it expanded to multiple photos. Now I see listings with 20 to 25 photos. It's great. I can actually see what the house looks like inside. I can see the waterfront, etc. Far more accurate than in the old days. I actually told an agent one time exactly what kind of photos appraisers would like when they put stuff in the MLS. She thought it was a good idea.

And now we have overhead photos of houses. I can remember looking at a house from the overhead satellite photo and realized it had a deck and fence in the back yard. Something I couldn't see from the road nor was it in the MLS! (In one photo there as actually a picture of a lady sunbathing in the backyard! I didn't consider her an amenity.). As I said previously about hard to see houses due to trees, now I can see far more about the house from the overhead satellite photo then driving by it.

What I am saying is that the certification on the forms were written when technology was pretty basic. Frankly if an appraiser isn't using overhead satellite photos to look at properties in my area he's absolutely foolish. I don't care how often they have driven by and looked at the driveway they haven't used the available resources to make an adequate inspection. And that doesn't count the fact that in my area the one thing that has the greatest value is the lake front! Can't see that from the street! You better be looking at maps of lake depth etc. Plus calling up the agent and asking for specifics.

So yes I drive by and take photos, only because that's what I sign. Do I think it is adequate? Nope. Do I think it is the end all for appraising. Nope. Necessary. Not really much with all the resources we have today. In fact if that's the fullest extent of your analysis of a comparable sale I would say you are not using the available resources. And I have done many appraisals for people without driving the comparables and taking original photos, and my values were just as accurate because I had other means of acquiring knowledge about the property (like 25 MLS photos!)

Also as to learning the neighborhood. I have driven on most of the roads in my county so many time I know every nook and cranny. I don't need to drive to the comparable to learn the neighborhood. That IS A WASTE OF TIME.

So if the scope of work says to drive the comps do it. If the lender wants non-MLS photos then take them. Charge accordingly. But don't for a minute think that just because you did that you have an adequate knowledge of the property and that somehow you are a superior appraiser. Heck you are living in pre-Internet era at that point.

Sorry for the long epistle.

If you use MLS photos, state that you used MLS photos. Don't crop off the copyright though and later claim that you took the photo--that's the real crime happening with MLS photos...

If the client doesn't allow the use of MLS photos, then don't use them.

It's really simple.

 

[Proactive]

If the client doesn't allow the use of MLS photos, then don't use them.

[SARCASM MODE] But... but... but... how about using original photos of MLS photos? You know, taking a photo of an MLS photo while inspecting it on the computer screen. Then it's an original photo. It can even be date-stamped. Surely, that's acceptable. [/SARCASM MODE]

 

[DWiley]

Don't crop off the copyright though and later claim that you took the photo--that's the real crime happening with MLS photos...

Yes, it is - literally. Removing a copyright notice is a violation of federal copyright law.

 

[CANative]

socialized appraising what a wonderful world

Ding-g-g-g! And there it is again. No one said you HAVE to appraise "for the government."

 

[djd09]

No one said you HAVE to appraise

Do you guys just pass around the same line.