Appraisers will appreciate this: Bracketing square footage

By
Real Estate Appraiser with East Coast Valuations / W.F. Chesley Real Estate

 

My fellow appraisers, I would love to share with you the following addendum that I added to a report this morning. I know you can appreciate the humor and frustration in this.

 

 

 

 

 

Addendum to Appraisal Dated 4/13/2012

 

Regarding the underwriters request to add two comparables which bracket the subject's square footage.

 

The subject contains 950 SF. The appraisal provides seven (7) comparables that have the exact square footage as the subject (950 SF). As shown in the aerial photo above, the subject's market consists of many 950SF ranch style homes. Using homes outside of this range is not required. In addition, providing additional sales to "bracket" square footage would result in using sales outside of the subject's market  of different style and would be a disservice to the subject, offering confusion rather than clarity to this valuation.

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Topic:
ActiveRain Community
Location:
Maryland Prince George's County Riverdale
Groups:
Appraisers
Broker Price Opinions
Tags:
va
dc
maryland
alisa delice
appraisals
appraisers
comps
square footage bracketing

Comments 44 New Comment

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Rainmaker
46,762
Alisa McKeel Willson
Certified Res. Appraiser
Appraisal Pros in Texas

Wow....I'd sure love to find 7 sales like that...matched pairs could finally be matched pairs... heck, I'd just like to see 7 sales...LOL...I work in a rural lake area...

April 20, 2012 12:30 PM
Rainer
20,126
Alisa Delice
Realtor & Certified Appraiser Luxury, FHA, 203k, H
East Coast Valuations / W.F. Chesley Real Estate

Alisa: Another appraiser named Alisa - Get Outta Town!!

April 29, 2012 04:50 PM
Rainmaker
116,050
Sara Goodwin
Portland, Oregon Appraiser
Ashcroft & Associates

You very eloquantly said 'duh' without saying 'duh' - kudos!

May 08, 2012 12:13 AM
Rainer
20,126
Alisa Delice
Realtor & Certified Appraiser Luxury, FHA, 203k, H
East Coast Valuations / W.F. Chesley Real Estate

Thank you for the comment Sara - I see another appraiser up working into the wee hours of the morning :)

May 08, 2012 12:16 AM
Rainmaker
116,050
Sara Goodwin
Portland, Oregon Appraiser
Ashcroft & Associates

Well, I do have some odd hours, but I am Pacific Time Zone, so it wasn't nearly as late as you!

May 08, 2012 06:34 PM
Anonymous
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Rainer
20,126

Alisa Delice

Realtor & Certified Appraiser Luxury, FHA, 203k, H
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