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A little blogging on my todo list for 2015

Real Estate Appraiser with Appraisal Pros in Texas

I had not been very active in ActiveRain in 2014 - so busy with appraisals even turning work away.  For 2015 I plan to do better and this is my first post of the New Year!

So, thank you for reading...and possibly commenting.

I was recently having a discussion with the listing agent on a comp I was trying to obtain information about.  Texas is a non disclosure state and realtors are extremely important to appraisers.  You see, as I was explaining to the agent who couldn't understand why I called her, sometimes a comp might be a good comp in an area where there are few sales if and I say IF there is sufficient data for comparison.  This agent did not list if there was a kitchen (yes, I usually assume there is), a dining room or just a nook.


We need this info for one of those pesky boxes we must fill in BUT it is more than that.   IF that is the only difference between 2 similar sales - one has a dining room and one of them does not and we know that it helps us  to isolate a difference in sales price and might make a difference when comparing the comps to the subject.


Now, that might be a minor difference but I've seen other things far more important than  that when looking for comps.  Once my subject was listed as having a garage apartment.  The agent assured me it was  with heat and a/c  and everything.  When I arrived I discovered a detached  storage with a toilet Now imagine what the next appraiser is faced with because he/she thinks  this sale has a garage apartment. The appraiser , if using  this comp  for a sale with no garage apartment will make a negative adjustment which just might work against the value of his subject.  That could contribute to  a lower value opinion!

So, to those of you who carefully list bed/bath/room counts, amenities and upgrades or  lack of them, I thank you! 

Richard L. Sanderson
Richard L. Sanderson Consulting - Kalama, WA
helping improve local property tax systems

Alisa: Thanks for your post. And Happy New Year! There are not many appraisers on ActiveRain, as you have probably found out. I'm optimistic that the importance of the accuracy of real estate data characteristics will improved in the years ahead. They have to in order for data analytics for valuation to be accurate. The majority of my past experience has been in real estate assessments where the validity of a sale affect all other types of properties in the jurisdiction that we being taxes each year!

Jan 02, 2015 11:59 PM