Graphs & Charts & Explaining Appraisal Adjustments

Who are appraisers including all these new files in their reports for? Are they really necessary? Could they be part of the plan to help eliminate appraisers? A discussion about why appraisers now have to "prove" their adjustments and what the GSEs and big banks have to do with it.

[ponygirl]

Yesss!! Thank you for voicing this! Rural eastern Ky appraiser here. Our homes are so different from one another, I'm finding it extremely difficult to have enough data to prove every adjustment. I've been spending hours trying to so I can have " proof" in my file. The results are weak at best. It's maddening.

[darrellhill]

Very good in your analysis regarding supporting your conclusion outside of a graph..

[FourthDimensionalHillBilly]

20 years appraising in Maryland. While we do have areas of homogeneous properties. Most areas are have a variety of homes styles, age ect. I’m being asked right now to add GSE explanations for adjustments on one such home. I love my career but I make the same per appraisal or less than 20 years ago and takes twice the time to complete 😂 gotta love it!

[robertcarullo]

agree 100% 38 years in this business. I also sell real estate

[rayseanreaves]

Great video Hamp. I took a CE course and you were the instructor. I searched up Explaining appraisal adjustments and when i clicked on this video i was like i know this voice lol

[Detached_AZ]

Hi @hamp Thanks for the good info. I have a question. If you have a subject property 1, 500 sf and a comp 1, 700 (all being equal); however, the footprint on the larger home is obviously more lot square footage to accomodate the property. So, you do an adjustment on the living space +/_. Do you ALSO do an adjustment +/- on the land. Isn't that "double dipping"?

[robertcarullo]

Thats right, knowledge in that market, and selling in that market. you know why one is paying for a certain property. agree 100%

[robertcarullo]

look at what zillow did, they tried to buy property on averaging, and they lost there shirt. You cannot buy, residential homes based on averaging, that is why the 1004mC was kicked out.