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V.a. Appraisal - Quote Of The Day

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Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
V.A. Appraisal completed and result was $3,000 shy of the contract price. This message was found on my answering machine from the listing Realtor, who has been around for awhile:

"I am so disappointed. I thought you would have told me first you were having problems reaching the contract price. I could have helped you with some comps"


:unsure:
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Since we all know that whatever a Realtor manages to get on a contract IS the real market value - no matter how far you have to go to 'cherry pick' the comps!!!!

Charlotte, I surprised at you! The comps the Realtors want to supply are always the newest, nearest, most similar, right? Appraiser's just don't 'get it' anymore and old 'number hitter' down the street with his stable full of newbies always gets what we 'need'. Wassamattawitu?

:beer:
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Oh geez, I'm sorry. I did't realize the appraisal request came from you. If only I had known YOU were my client, I would have called. <_<

And yes, I have used that before. B)
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Don't know about your region but here we are instructed to accept what ever comps the REALTOR® has to offer....we just don't have to use them! :rofl: :rofl:

I get the same thing all the time...my response "you know I can't do that" and then I smile. We really do try to work with the real estate community, no sense being a jerk. I also tell them I have been a real estate broker, real estate instructor, and member of the board for more than 30 years. I hold the GRI and CRB designations plus the RAA appraisal designation. I think I can probably select the comps as well as you.....by the way, how long have you been in the business? After more than 8,000 appraisals in this market, I think I know what I am doing. Then I really smile big :lol: :lol: :lol:
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Value Dispute in the works. Realtor was given my appraisal and she provided a very good comp. BUT, that was one that I already had on my appraisal. :blink: Her other 2 came from subdivisions up to 5 miles away. Never mind there were 15 comps right in the subject subdivision. Could it be that none of them matched the contract price? When will they learn?
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Must have been your turn Charlotte. That scenario sounds awfully familiar to me.
:( :twisted:
 

Wally Jones

Senior Member
Joined
Jan 23, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Well, I've been seeing the REMAX teevee commercials where the agent picks up the house and moves it closer to a tree or something. Soooooo........"Ms. Realtor, if you could just pick up the subject and place it in that neighborhood five miles away where all those nice comps you provided are located, we'll see about a reconsideration of value immediately!" :mrgreen: <---remember to take Mike's advice and smile big!
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
:lol:
What is that very old statement? There are 3 things that are important in Real Esate?

1. Location
2. Location
3. Location

Was that it?

Don
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
:redface:
OOPS!

Charlotte,

Forgot to tell you. I came in $41,000.00 below the sales price on a $311,000. sale.

Highest sale in neighborhood was $250,000. Used 1 comp from adjoining comparable neighborhood that set a higher range, and had a pending sale at $315,000. that was similar to subject with the exception that subject had a darn pool(no comps witha pool) and an attached and a detached garage.

I don't think I have came in at a sales price all week. Values are being pushed way to hard. I'm not proud of that fact, but, it is not up to me to create the market, just analyze it.

Don
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Originally posted by Don Clark@May 16 2003, 06:09 PM
:lol:
What is that very old statement? There are 3 things that are important in Real Esate?

1. Location
2. Location
3. Location

Was that it?

Don
No Don; you're WAY behind! You know how everything changes over the years. The three important things in Real Estate were changed by the Realtors to:

1) Commission
2) Commission
3) Commission


Charlotte
 
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