Appraisers Blog

SEPTEMBER 19, 2024

A picture is worth a thousand words but an in person visit (subject/comps) is worth a million. I had a comp in a neighborhood I was well familiar with and after viewing the listing photos I yelled at the agent (in my head of course) where the hell are the pictures of the mountains the house was facing. She had not included one.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 4, 2024

Appraiser who start out with a blank canvas (so to speak), with no asking price information provided to them, — obtaining data only by available visual information and records of the property and improvements itself, to work up the estimate and appropriate comps.

Comps 97

Comps Start-ups Appraisal 97

Law 360 M&A

NOVEMBER 7, 2022

As Elon Musk heads to trial in Delaware Chancery Court to fight claims that he ripped off Tesla shareholders when he was awarded a jaw-dropping $56 billion equity compensation package, the chancery has a rare opportunity to weigh in on the rights of shareholders to contest executive compensation.

Comps 75

Comps Equity 75

Appraisers Blog

FEBRUARY 6, 2024

Or maybe he lives in the heart of the city and takes elevators to provide appraisal services on perfect square boxes with plentiful comps, mere minutes away from the home office. 1-2 hours inspection and comps. Two and three a day appraisers using typing services, outsourcing, comps sharing, click and go pre write.

Comps 98

Comps Appraisal 98

Appraisers Blog

SEPTEMBER 19, 2024

If they really want to make appraising more efficient they need to eliminate the requirement for appraisers to drive to the comps and get pics.

Comps 98

Comps Appraisal 98

Appraisers Blog

JUNE 15, 2023

Three comps of a matching model in the same neighborhood, sales prices 100, 125, 150. Comps selections represent one better, one worse, one similar. The closer one can identify comps, the less the total amount of adjustments that would need applied. The alternative is a classical simple mathematical approach.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 4, 2023

The comps/market and analysis speaks for itself. Is the analysis sound, are the comps conditionally and locationally adequate and relevant to the subject. More redundancy and gobbledygook for USPAP. End of story. Who’s concerned about ethnicity or race and how can one appraise a property on that basis?

Comps 98

Comps Appraisal Marketability 98

Harvard Corporate Governance

MARCH 28, 2024

The TSLA board comp case was vastly interesting and even some fun. Related research from the Program on Corporate Governance includes Paying for Long-Term Performance (discussed on the Forum here ) and Pay Without Performance: The Unfulfilled Promise of Executive Compensation both by Lucian A. Bebchuk and Jesse M. Bebchuk and Yaniv Grinstein.

Comps 150

Comps 150

Appraisers Blog

DECEMBER 24, 2023

In other words you believe that if an appraiser is incompetent and utilizes wrong comps, data, etc. In reply to hammering hank. then he must be racist/biased! smh Never attribute to malice that which is adequately explained by stupidity 1

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 3, 2024

Any good appraiser is already explicitly explaining their comp search, includes a farm list AND discusses specific sales not used that someone might wonder about. How bout a requirement that the underwriter screen any ROV before automatically sending it to the appraiser?

Comps 98

Comps Appraisal 98

Appraisers Blog

FEBRUARY 9, 2024

AS NOTED IN BILL’S REPLY: “If a ROV is requested, an explanation is required from the supplying party/parties as to why the new sales are superior to the appraisers comps.” ” LET US NOT FORGET THIS. Do not reply to ROV’s unless this is included by the lender.

Comps 98

Comps Appraisal 98

Midstreet Blog

APRIL 27, 2022

You may have heard of comparable sales (comps) before in the context of buying or selling a home. Comps are a highly valuable tool to find the value of a home or a business. One of the first steps in planning to sell your business is to get a business valuation.

Comps 40

Comps Business Valuation 40

Appraisers Blog

SEPTEMBER 20, 2024

Im so tired of amateurs claiming ‘driving the comps’ is inefficient or a waste of time. In reply to Dallas Kiedrowski on Facebook. Clearly they haven’t a clue as to what specifically they are supposed to be looking for. Yet they continue to undermine our profession with short sighted, poorly informed suggestions.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 7, 2024

Except for the fact that the home inspection photos will also be analyzed and input in that database, along with all the appraisal photos from the properties you selected as comps, as they were once subject homes themselves. Here comes the automation that the big fintechs are already using, now centralized.

Appraisal 98

Appraisal Comps 98

Appraisers Blog

AUGUST 15, 2023

FHFA has no proof of racial bias by appraisers, relying instead on Census Tract data irrelevant to selecting comps.

Comps 98

Comps Appraisal 98

Appraisers Blog

APRIL 26, 2024

Comps oftentimes are 20 miles +. I refused to adhere. Guidelines ask for best comparable for an area. That’s where the sales are located. I cannot create a market which doesn’t exist. I use the data present and make logical inferences and data to support. Same with the %. It is what it is or reconsider doing business in this market.

Comps 98

Comps Marketability 98

Appraisers Blog

SEPTEMBER 19, 2024

And if the house (comp) has been totally renovated since purchase than the photo it is misleading to the reader of the report. In reply to Dallas Kiedrowski on Facebook. exactly, we can see any location or view differences from the plat maps reviewed.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 13, 2024

It was also in a different neighborhood than the higher comps. Second appraiser used comps of fully renovated homes in an area which sells for a lot more because it’s revitalized. I believe the first appraisal.The property needed to be fully, fully renovated. The area is being revitalized but not where this home is located.

Appraisal 98

Appraisal Comps 98

Appraisers Blog

MAY 7, 2024

This extends beyond just the comps in your grid to every single comparable in your model. I use True Adjustmnet Trends from Homeputer. Remarkably, it doesn’t require photos to assess and rate the condition and quality of comparables.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 11, 2024

Three of the four “new” comps were already in the report, and the fourth was a fourplex. In reply to Todd Redington. I wish all ROVs were handled in this manner. I recently completed an appraisal on a duplex and got an ROV within days. This ROV should never have been sent to me, but I had to waste my time on it anyway.

Comps 96

Comps Appraisal 96

Appraisers Blog

FEBRUARY 8, 2024

It said, Comp 2, an older, Traditional dwelling, is in the subject neighborhood…” I am baffled. We were asked today to remove the term “Traditional” from commentary about a comparable.

Comps 98

Comps Appraisal Banking 98

Appraisers Blog

JULY 20, 2024

Imagine being an english professor and still being required to take english comp 101 for literally the rest of your life, and continue to pay for it full price every time. You’d better pair your comps up for extraction and allocation before your irv hits a nerve and the grm hops past your caps. It takes me 2.5

Comps 98

Comps Appraisal 98

BVR

MAY 25, 2023

Finding public comps for valuation purposes can be a challenge, requiring either a fair amount of digging or a considerable expense (and sometimes both). However, finding these data doesn't always have to be a struggle, thanks to Value Analytics. Let's take a closer look at how this platform makes things a little easier.

Comps 100

Comps Equity 100

Appraisers Blog

JUNE 18, 2024

They could ask for a comp search before ordering the appraisal, so the borrower would know ahead of time a reasonable value range of their property’s market value. Or we could go back to mortgage bankers and appraisers having direct communication and meaningful professional relationships, better two way accountability.

Comps 98

Comps Appraisal Technology Marketability 98

Appraisers Blog

APRIL 18, 2022

…a brilliant ‘work around’ to solve the subject & comps adjustment issues, which Fannie Mae thinks is no big deal… Appraisers, I was chatting with an appraiser buddy last week about the ANSI measuring dilemma we all face when doing Conventional lending reports, which ultimately will wind up with Fannie Mae.

Comps 98

Comps Appraisal Marketability 98

Law 360 M&A

JULY 1, 2024

White & Case LLP announced Monday the addition of a second chair for its still-growing global competition practice, elevating a 16-year firm veteran to co-chair the group.

Comps 52

Comps 52

Law 360 M&A

APRIL 17, 2024

The Federal Trade Commission's top antitrust enforcer urged merging parties Wednesday to be fully open and transparent with reviewing staffers, warning that trying to get enforcers to ignore potentially problematic material just makes their jobs more difficult.

Comps 52

Comps 52

Appraisers Blog

FEBRUARY 16, 2024

By not requiring the appraiser to inspect the subject property, comps, and surrounding properties, appraisers are being set-up to be the fall-guy in the next bubble as the industry is being gutted by nonsense.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 3, 2024

Homeowners, Realtors, Lenders are NOT Appraisers yet they can tell you… your value is low AND you need to review these comps (for FREE) and smile about it or lose your license. How many other professions are there where the client or receiver of your services tells YOU what to do. When have they ever told you your value is too HIGH?

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 3, 2023

“This girl runs comps, and in my office our goal is to have each comp take about one minute. When we timed her, she averaged at about one or one and a half minutes per comp. We talked about it and now she’s working to hit one minute per comp. [link] In the above post, the following was stated.

Comps 75

Comps Appraisal 75

Appraisers Blog

FEBRUARY 10, 2024

Bill Johnson – is there a verifiable source for the comment ” If a ROV is requested, an explanation is required from the supplying party/parties as to why the new sales are superior to the appraisers comps?”

Comps 98

Comps Appraisal 98

Appraisers Blog

APRIL 13, 2024

An appraisal is an opinion (among other things) of … Scope of Work The contract The neighborhood The site, including H & BU The improvements (condition, deficiencies, adverse conditions and conformity) The selection and adjustment of comparable sales The analysis of prior subject and comp sales Market Value indicated by the Sales Comparison (..)

Appraisal 98

Appraisal Comps Marketability 98

Appraisers Blog

APRIL 23, 2024

Am I the only one who recognizes that there is insufficient qualitative data points in a URAR 1004 to run a reliable AVM.

Comps 98

Comps 98

Appraisers Blog

MARCH 2, 2024

Bracket your subject with the best comps considering all attributes and then explain why you think adjustment(s) are appropriate. We should try not to go down that rabbit hole. This like many USPAP guidance will go by the wayside. No biggie Lyle Rieke!

Comps 98

Comps 98

Appraisers Blog

JUNE 19, 2023

A number of years ago a friend, was driving on a Saturday viewing some comps for an avigation easement and expansion of LAX, He noted new owner, recent buyer mowing his lawn, and also noted that this buyer paid a seemingly high price. In reply to Michael Ford. My collegiate approached the new owner asking about the price paid!

Comps 98

Comps 98

Appraisers Blog

AUGUST 14, 2024

During the refi boom, most of my work was very difficult rural work where I’d commonly drive 300-400 miles inspecting the property and taking comp photos. In reply to Joseph. I got a few really good fees during that time.

Comps 98

Comps Appraisal 98

Appraisers Blog

MAY 23, 2023

I always use a range of values in my comp search,ie,if a home is contracted for $300,000, common sense dictates that the home is worth more than 200K and less than 400K, I always include the following statement; “In the search for suitable, similar sold comps the contracted sales price is NEVER a comp search criteria or parameter” 1

Comps 76

Comps Appraisal 76