Tag Archive for: comps

Appraised Value Can’t Exceed Highest Comps; Appraised Value ≠ Market Value; WHY WE NEED AGENTS!

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We had an appraisal come in $40,000 under contract a few weeks ago – and both the buyers and sellers were furious… solely because they did not understand appraisal guidelines.Read More

Appraisal Comps: “Just the facts, Ma’am” – STUFF EVERY AGENT SHOULD KNOW!

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“The story you are about to hear is true; only the names have been changed to protect the innocent.” That was the opening line from the famous 1960s TV series […]Read More

Appraisers Can’t Ignore “Bad” Comparable Sales; Agents Shouldn’t Either

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AGENTS WERE LIVID WHEN APPRAISAL CAME IN LOW We recently had an appraisal come in $25,000 under contract price – and the agents were irate! They sent us comps that […]Read More

When Appraisers Are Right (Which Is Often)

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We have an excellent pool of hand-picked appraisers that I tout often as a competitive edge. I tout them often b/c we used to get burned all the time when […]Read More

Why Agents Need to Share Low Comps Too; When Cat Pee Matters :)

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Agents often share relevant comparable sales data with appraisers to help support value. B/c of this we often share basic appraisal guidelines with agents to ensure they share comps that […]Read More

Why Appraisers Can’t Ignore Comps That Hurt Value

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The 1990s were good and bad for appraisers. They were bad b/c appraisers had to use analog sources (books and printouts) to find comparable sales; they were not online. They […]Read More

What Realtors Can Say To Appraisers- Anything; Comp Guidelines

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Lenders are not ever allowed to communicate directly with appraisers. We are only allowed to order appraisals through our Appraisal Management Company, which in turn contacts the appraiser. Realtors, however, […]Read More

Unpermitted Space is OK – No Value; No Health and Safety Issues

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One of our Realtors asked us about a house in Oakland with 1,800 square feet and 4 bedrooms and 2 baths (per MLS). The problem is that the county records […]Read More