What do you all think about this article?

[PL1957]

I didn't read the entire article, just the excerpts. The excerpts appear to recognize the duality of the definition of market value that a lot of appraisers choose to ignore - the fact that there must be a willing buyer AND a willing seller to have a transaction that meets the definition of market value.

This is the time appraisal become FUN guys ... good data and analysis becomes critical and you get to a point where reasonable people can actually disagree on value, with both sides providing well supported positions.

 

[Ross (CO)]

"All that matters is the closing price."............That, depends !

.....and that is why more and more state apprs. boards are recognizing that closer scrutiny of formally recorded selling "prices" is a necessary step in any appraiser's S.o.W. for market data verification.

.....and that concessionary amounts of free-money gifted to a pending contract WILL inject an unwarranted INFLATIONARY impact upon the appearance of the price actually paid for the house+land.

Such inflated prices in formal database repositories become the records that other entities utilize when mass amounts of sold-price information is crunched for alternative valuation processes.....that lack full verification. Misrepresented selling prices then harm the next prospective shopper who is considering a home in that market as they get a skewed picture of "just what houses are going for".

 

[Austin]

I found out years ago that the most popular of all small talk is about real estate home values. "What's it worth?"

This thread just proved that.

 

[CANative]

I was at a very busy pizza parlor last night. We had a big party for my granddaughter who just turned 5. All her friends from pre-school were there along with their parents.

Too noisy for me and kids are toxic. So I spent the time at the bar drinking pints of beer and watching the Patriots game. After a couple or three I had a good buzz and then the people sitting next to me (locals entertaining out of town friends) started talking about real estate in general and what's happening in the Ukiah market.

I didn't dare tell them I was the local appraiser.

 

[Tim The Enchanter]

I was at a very busy pizza parlor last night. We had a big party for my granddaughter who just turned 5. All her friends from pre-school were there along with their parents.

Too noisy for me and kids are toxic. So I spent the time at the bar drinking pints of beer and watching the Patriots game. After a couple or three I had a good buzz and then the people sitting next to me (locals entertaining out of town friends) started talking about real estate in general and what's happening in the Ukiah market.

I didn't dare tell them I was the local appraiser.

I can understand why you wouldn't cop to that.

And you'll not catch me in a Chuckie Cheese. m2:

 

[Ross (CO)]

....copied below

 

[larryhaskell]

I hadn't noticed than mean streak in you before Ross.

 

[Ray Miller]

Wow, Greg, your conversation at the bar could have been so enlightening, and I'm sure it was.

I had a similar chat with the brother of a (not too well known) neighbor at a Christmas cookie party not long ago. He was visiting his sister who lives on my street. (She has her house for-sale right now at a VERY high offering price !) He is a RE agent from big-city Arizona, and he was sharing with me his philosophy on how to "work with appraisers". I played him up a bit, got him to reveal his special tactics on getting the "values he needs".....and then I non-chalantly told him that I was an appraiser.

I waited and timed my stating of such until he had taken a big bite of a very flaky and sugar-powdery cookie. He gasped and choked and spewed-chunks and powder over the hostess's carpet. While he then proceeded to clean up his mess......I walked away. We never did chat again before the evening ended.

Did you tell him you were going to call the appraisal police on him and report him to the AF?????????????

(Flight canceled now, got to book on another one, may get to Denver next year, glad I allowed a full day. Knew I should have drove it.)