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A thank you from Huntsville, TX for the good, the bad & the ugly!

By
Real Estate Appraiser with Appraisal Pros in Texas

I am a real estate appraiser in Huntsville, TX.  For those that don't know we are about 1 hour north of Houston, well, the northern part of it and about 2.5 hours south of Dallas.  

Another appraiser and I were discussing the current state of appraisal business in this area and commenting about the amount of work that we seem to pass up because we are very busy and the scope of work in appraisals now is much higher than the "good ol' days".  So of course we then discussed how appraisal management companies are pushing for quicker turn times and how hard it is to meet those.

After we hung up I started thinking and one thing came to mind....in our non-disclosure state we have a serious problem trying to obtain data about sales and listings to use in our appraisal reports.  We are being challenged every day to explain our adjustments and how we arrived at them and I realized how much I rely on our local MLS and the agents who post their listings.

You see every time I see a sale that "might" be a good comparable I have to know details about it's condition, updating, quality of materials, age,  gross living area, utility type, heat type, number of rooms  as well as the bed and bath count.  On waterfront properties some  lenders are now asking (and have been for a while) for the water front footage on comparables we use...some want to know how much the subject GLA I measure is different from the county assessor GLA and why.  Many times accurate lot sizes are hard to determine even with those online assessor measuring tools. 

Thank you to those of you who put the survey and list of features with dates of updates in your listings.   Thank you to those of you that put the seller's disclosure in the listing...and thank you for classifying your subject property for what it is...for putting manufactured homes as what they are so I don't sort through meaningless listings looking for comparables.   (Hmmm, I sound a little like Jimmy Fallon on Friday nights with his thank you notes so just imagine that music in your head.. LOL).

Appraisal reports require so much information about the sales I utilize as comparables and of course sometimes I need complete information to determine why I don't have to use a sale (which might hurt the value in the neighborhood).  Sometimes it's hard to explain why a sale that looks good on paper (size, time of sale, lot size, etc.) shouldn't be used.  We need to have back up information to prove what we say.

So to those of you in our area who so diligently fill out the listing completely I honestly thank you from the bottom of my heart.   Thank you for those photos of all of the rooms you put in -- the close up ones that allow me to see how updated (or not) the kitchen and baths are...the type of flooring, any great upgrades and not so great lack of upkeep.  My appraisal report requires I know these things -- the good, the bad and the ugly!  

And to those of you who take my call when I am trying to find out these things - thank you for understanding and being so helpful.  Sometimes you have the information I need and you are the only one who can provide it.   Thank you for understanding that I am trying to do my job the very best way I can!  And the quicker the better I think you are thinking right about now...

And the bottom line to all of this is -- the more information I have readily available the quicker and better I can do my job...

Again, many thanks to you all!  

 

 

 

 

 

Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Hi Alisa McKeel Willson!

Thanks for a great post about the challenges of appraising property - especially in a non-disclosure state!

We like your writing style!

We wish you great success with your blog posts and networking with other members of Active Rain!

We clicked the “Follow” button on your profile so that we will be alerted to your future blog posts and can read and comment on them, and we invite you to "follow us" - should you be interested. There is no requirement or obligation for you to do so, but we would be honored if you choose to do so!

Aug 15, 2016 11:13 PM
Alisa McKeel Willson
Appraisal Pros in Texas - Huntsville, TX
Certified Res. Appraiser

Thank you for your kind comments! I read your about me page and I'd be willing to bet  there aren't many realtors who can say they have closed every listing ...that is impressive and made me want to follow you! I'll be looking forward to your posts.

Aug 15, 2016 11:28 PM