What the heck is LSPG

[DWiley]

Why would they put Landscaping under "design-style" ?

A better question is why do appraisers use such obscure acronyms. In review work I constantly see acronymns that make no sense to me.

We are supposed to write our reports so they are understandable to the intended users. If a group of appraisers can't figure out what the acronym means, how could the intended user?

 

[redfish]

ADDENDUM:

Adjustments derived from list mentor provided in 1998.

**** 1998-my list came off the Ark. That's how I know it's rock solid. Noah had two identical lists one for female appraisers and one for male appraisers.

 

[CANative]

Inherited lists are not always a bad thing. They may represent years of trial and error techniques using such methods as pair sale analysis when and where paired sales could be found or turned up or cost analysis or income analysis. It's no coincidence that adjustments for garage bays are reasonably in the $5,000 range which pretty much reflects market reaction to cost. Or half-baths are in the neighborhood of $2,500 or so. I see these types of adjustments in the appraisals I review and in the AF threads I have read since 2003.

 

[CoorsLight]

It's no coincidence that adjustments for garage bays are reasonably in the $5,000 range which pretty much reflects market reaction to cost. .

Funny this was brought up. A not so local MAI just performed a field review on an appraisal I completed back in December. I received a copy of the review today and glanced over it. He (attempted) to rip me to shreds on my neighborhood boundaries as well as my adjustments. The subject was located in one of the most rural areas in the state and I used the entire county as the neighborhood boundaries. It's fairly typical in the area that buyers look on a county wide basis, and not on a subdivision basis. After trashing my neighborhood boundaries, he utilized a comparable from the next county over. His adjustment gripe was based upon my garage adjustments. The subject had no site-built storage, only a driveway. I adjusted two comparables by -$12,500 due to their 2 car garages. He asserted that market participants paid no more than $2,500 for a 2 car garage over having no garage. Seriously, I doubt any builder is going to take that much of a hit on a 400/sf + attached garage. This is why I stick to non-GSE lending. /rantoff

 

[Ken B]

Everybody knows garage adjustments are $5.20/CU ft.





(For those that are new around here, my sense of humor is sometimes not fully appreciated.)

 

[Smokey Bear]

If all an out of area reviewer can 'rip' you on is the amount of your adjustments and your 'neighborhood' boundaries, both of which require some level of geographic competency, then they're reaching. It's one thing if you have a property in the Upper East Side and are saying that all of Manhattan is your neighborhood, but in a rural are? The guy is trying to justify his fee.

 

[CoorsLight]

He did manage to charge them an extra $100 because it was out of his normal coverage area. I'm assuming that's the same as disclosing the fact that he was geographically incompetent?

 

[LI-Appr]

Call the person up and ask him. I am dieing to know. Lip Service Per Countrywide?

 

[Mr Rex]

Why would they put Landscaping under "design-style" ?

The old form had Design and Appeal. Maybe thats where it came from?