Why I Use MLS Photos

[J Grant]

I always used to include interior photos even when they were not required (though a few lenders asked to have them taken out..go figure)

Documenting improvements of a subject so the lender can see what they are, is different than photographing comps just to prove you were there. (in gated communities, none of the comps can be photod, MLS photos used with disclosure)

Terrels question, why not take a photo...people standing on lawn, traffic, dangerous area, house not visible or gated etc.

It is a good idea to take photos, yes. But if the lender allows MLS photos and an appraisers chooses to use them, taking photos just to prove you drove is an individual choice.

 

[JTip]

This is why some lenders are requiring aerial photos, MLS sheets of the comps, MLS CMA printouts, etc., and now the UAD because of corner cutting appraisers.

More assignment conditions only means more MONEY. I love À la carte pricing. MLS sheets are $** each, aerial photo $**.

"Have it your way"

 

[Smokey Bear]

which can import MLS photos faster than I can copy/paste my photos. And you would turn me in because you make the unsupported ASSumption that if you use an MLS photo, it's because you didn't take your own?

I stated that Datamaster imports the photos, and it's faster. I prefer my own pictures, but it takes more time, especially when I take multiple shots of the comps, to make sure I get info on features like the roof (zoom in), my zoom in on the address, zoom in on the windows, etc.

Also, anyone driving their comps, NOT taking a picture while your there, and using a MLS photo only to gamble on having to explain that in the future, is too stupid to be an appraiser.. Period.

My guess is that you've never appraised in a 'dicey' area, never been chased down by a big guy in a big truck, or a small guy with Napolean syndrome, in a big truck, or been cornered in a cul-de-sac by a couple of big guys, and that, of course, you're a guy yourself, better able to defend yourself against these idiots. And some of these idiots are in the better neighborhoods.

Oh, wait! I take it you've also never had a comp in a gated community you couldn't get into, or up a private drive you couldn't get into or couldn't see a way to turn around on without pulling into their driveway, etc. Or even had the sun in your eyes so bad that you just couldn't get the photo, from any angle.

 

[residentialguy]

Agree, the churn and burn, corner cutting appraisers ruined that.

No, the lack of punishing bad appraisers and throwing a web around all appraisers ruined it.

 

[Smokey Bear]

When will we wake up and realize they want quality reports with no corner cutting?

If they wanted quality reports, they'd only hire quality appraisers instead of making a bunch of dumb rules to try to force the low quality appraisers into the quality appraiser mold.

And the first place I'd look to determine quality is the form, then the comments and addendum, NOT the comp photos. Most lousy appraisers use only boilerplate and don't really analyze the market, the comps, the neighborhood, and their support for the value.

I can pick out errors in an appraisal without knowing the neighborhood, and without looking at the comp photos. The lousy appraisers don't understand that their report must be consistent, that the numbers on the top of page 2 of the URAR are a subset of the neighorhood data on page one (unless you STATE that your market area is larger than your neighoborhood), and that your comps need to fit into those boundaries as well. They don't understand that boilerplate isn't sufficient, and that they actually have to describe the specific area, talk about WHY the comps are inferior or superior, etc.

Just sorting through some of the appraisers' work and culling out the ones that don't do any analysis would improve the gene pool, without creating a bunch of dumb rules to follow.

 

[Mr Rex]

 

[J Grant]

While it is impressive how concerned some are about photos, the problems in vauation are neither caused nor cured by the use of original, or MLS photos. Many appraisals with fraudulant or misleading values, have original photos. Concern for the profession is good, but the intensity of concern around photos seems misplaced.

 

[Mr Rex]

Misuse of MLS photos is a symptom of a larger problem. Like being a little pregnant or having just a touch of cancer.

 

[J Grant]

Mr Rex, I don't agree. I did a fair number of reviews at one time (still do some) and did not find this to be true. I saw many good apprasiasl with MLS photos that had great research and support and comp selection, as well as a bunch of lousy ones (more lousy appraisals end up in review, of course). Same thing for using original photos...saw some excellent reports and a bunch of lousy ones using original photos.

I do agree orig photos shows more effort and transparancy in driving the comps. I don't agree that using MLS photos is a symptom of a larger problem, and that the appraiser thus cut corners or improperly developed the report (though that of course could be true).

A good appraisal with well developed supported values is a good apprasial, whether it uses MLS or original photos, and a misleading or poorly developed appraisal is lousy whether it uses MLS or original photos.

That is my take on it, the subject seemst to bring up polarizing views.

 

[Mr Rex]

Having done a fair number of reviews myself, I can say unequivocally that MLS photos and deliberately misleading reports go hand in hand. Similarly, MLS photos and poor quality goes hand in hand. YMMV