inflating Home Appraisals

What Part do Appraisers Play in all This..

This Video is Right on...

in my world Appraiser want the buy sell
before they appraise - WHY?
What is Independent about that..
and Appraiser will Say.. What do
you Need it to Come in At?

r

www.SavvyBroker.com

the Stuff your NEED to Know
Before You Buyer

r

Everybody WANTS Paid...

r

Who EVER can Get the HIGHEST
appraisal will get the Deal.. WHAT?

the Appraiser said..

Appraisers act like I am Clueless and maybe I am, I have taken appraial course, I am NOT an appraiser, I know how "Values" work... and I know that Realtors realy do Lie - Cheat and Steal..

Some Realtors ARE even Real Estate Brokers - Real Estate Broker owners. So, though the "Certified appraiserS" are giving me a thrashing. They don't know things from my perspective. the Realtor's Data -the MLS - is NOT Policed or Monitered for Quality Control in Anyway.. In My Experience from My Perspective there is No "Price on a Deed" nor do I believe this is ethically. A price on a deed gives OUT your business to anyone who goes to the courthouse and SHOULD not be allowed, you don't want a buyer knowing your busines... do you?

Also if there is a price on a Deed where does that SOLD come from .. is it from the Title Company or a settlement statement, is the commission - sellers contribution and other costs taken into account, does the Appraiser EVER look at the settlement statement. Appraiser say that they MUST Verify all data, I say that is almost Impossible from my perspective. Yes some data is accurate .. however it can CERTAINLY be manipulated. And there Certainly is a HUGE room for Error.

The latest remark is below in blue...

"USPAP requires us to verify the sale price from the price put on the deed. So we DO KNOW when the realtors falisfy the sales price. THIS IS NOT THE APPRAISERS FAULT for this crisis. Get your facts straight. I do not trust any realtor. Realtors dont influence me. They can try all they want."

If a “Price on a Deed” is Standard then it may be effective,

however I have never seen this. I have taken

an Appraisal Course recently and it said that a Price

on a Deed is a good idea. It did not say anything

about it being law or Standard of Practice.

Realtors do affect real estate data, whether

the appraisers believe it or not is irrelevant.


An Appraiser called me last week and asked me for

a comp around $700,000 – I told him that I did not have one.

I get these calls all the time and appraiser really do believe what the Broker tells them ... though some pretend it just is NOT true.


I am Not Claiming to Know all the Fact,

I do know that NAR and local “Realtor” boards

do not check their data for accuracy

or have ANY quality control measure in place.
I do not Blame Appraiser, my Point is that Realtors

are Not Regulated for “Quality Control”

over the data that they put into their MLS.

Nor are Realtors held accountable when it is

shown that their data is bad, misleading or falsified.

Realtor Do influence appraiser, they are part of

the “transaction history” most of the time at some point in time.

A lender called me the other day, he wanted to “verify”

my “opinion” on what a property was worth so that

he could give a “loan” – said he wanted

to hear it right from the horse mouth.

It Takes One Week to be a Realtor… appraisers

have more training and most likely give more

accurate data most of the time, however they are

working from the Realtors data, most of the time – to start with.

There is NEVER a Reason to use

a Realtor in your real estate transaction.

Do County Records Show Transaction History?

Not in ANY Transaction I have Seen. If County Records have accurate Transaction History, where does this come from? Do Counties keep records of Buy-Sells, Listings, and All things in Realtors Files? The Title Company Does NOT keep anywhere near what they need to for the Consumer to have access to in the future.

So where does the County Get this Supposed Transaction History that Appraisers Claim to Use in Order to assist them in the “value” verification process. Is it From SOLD Deals from the MLS, the banks, Appraisers, or Lenders? Where Does the Transaction History that Some Counties Supposedly have come from ? And do you think this is Accurate Information?

There is Room for Corrupt Data in EVERY Real Estate Transaction.

In my Opinion, Transaction History is Only as accurate as those who supply the Data and Most of the Time that is the Realtor. And if a Title Company is Closing the deal and creating the data – they even have less information to go on.

Realtor Transaction History in the MLS is Worthless when you need it. When you look up the History, if you get to it before the Other Realtor gets wind that your looking and for a particular reason, and you see something “fishy” and bring to the MLS, the Local Association Director’s Attention – you will simply get answers that Choose Sides, Discriminate and Basically Give you nothing.

And when you prove the Transaction History says something about a “Failed Sale” or some information you may need to prove something in a Lawsuit, the Realtor you are Questioning denies that it says what it says and the Association backs them up so the real estate consumer loses.

Transaction History is NOT as Important as House History.. You NEED to Know More... www.SavvyBroker.com

Comment from "Certified Appraiser"

The Blue Words are from the "Certified Appraiser"

and the Words in Black are My thoughts

on His Opinion, His Words.

a

"our cause is noble as there are a lot of unscrupulous people in the real estate profession, however i recommend revising your videos.

your example on youtube of someone coming into town and offering more than double what a house is worth for a home that is not for sale.

this is not an arms length transaction, therefore not an indicator of value. "

BULL. If I - when I was a Realtor - had someone walk into to my office as a Realtor, a Broker Owner, and I write up an offer on a property and enter into the MLS, first of all the Appraiser don’t know if the Realtor has a listing on it or not. Secondly, Once the SOLD is their in the MLS – where I enter it, if I was Still a “Realtor” than the Appraiser WILL use it as a Comp. And Not even Know the Arms Length... of it all.

The Appraiser’s Don’t EVER See the Listing. They don’t know how long it was Really Listed, if it is a One time listing, or if it was exposed to the "Open Market" . The Appraiser see's it as Arms Length Because it is in the MLS – a Realtor can Enter whatever dates and information that they want in order to make the Appraiser See what the Realtor NEEDs them to see. It Really is Easy to Create FALSE data and it is a Free For All when there Never is an Auditor from the NAR that Checks the "Realtor's" File for ANY kind of accuracy.

Arms Length is the Least that is Looked

for as a Corrupt Date Indicator.

The Example I Gave on YouTube IS “an Indicator of Value”, many variables lead to Value and the Realtor can create what the Appraiser NEEDS to see to create the Data that the Realtor Wants to Make the Sale Happen.

Just Because the Appraiser

Does Not Believe it - Does NOT Mean

it is Not True

CoR

Arm’s Length..

the “Certified Appraiser” has No IDEA if it is “Arms Length”.

The Appraiser Does not EVER know the Relationships Between a Buyer and Seller, if they are ‘Friends’ , “Family”, Distant Relatives or In-Laws and have somehow staged a Sale.

Interviews… Will NOT get the appraiser the Truth.

The Realtors FAKE “Arms Length Transactions” buy doing a Listing when the Buyer Makes an Offer on the Home for Double… See the Appraiser Does not Know what Really happens in the DATA, the National Association of Realtors Puts a system in place to Let Realtors Sell – Sell – Sell and Create all the Forms and Back up information – data to make it comply to what all parties ( including appraisals) to Make it Work to Get the Paycheck at the End of the Day, EVERY DAY….

My Opinion is NOT up for Revisions. Unless You can Provide information that I, as a Real Estate Whistleblower, Ex-Realtor, Broker Owner have witnessed to Be True.

x

it has not been exposed to the open market ie. being "listed for sale" on mls. so why this data would be on mls, i do not understand.

x

Again, Appraisers are Clueless. Realtors Sell property ALL the time that is NOT for sale in the MLS and then they enter it into the MLS, hence 3 DOM (Days on the Market).

And what is Open Market, if I have a dozen listing for Sale and I am NOT a member of the National Association of Realtor, Hence, NOT in their Database, than as a Real Estate Broker Owner are my listings Exposed to the Open Market?

If a FSBO advertises on the Internet say Craiglist and a Realtor brings a buyer, had that real estate for sale been “Exposed” to the Open Market.

Was it “Listed for Sale” or is the word “Listed” reserved for member of the NAR.

What if I Enter My SOLD data, as a Non-Realtor on Zillow when it sells – is that the “open market”.

This Kind of Data is MOST Definitely On the MLS that The appraiser is looking at to value homes in your neighborhood.

x

"same holds true for someone coming into town and buying a house from someone for half market value who did not expose their dwelling to the market. it is not an indicator of value. "

x

Yes this also creates false data, and again the appraiser would not really know the truth of whether it was Exposed to the Market or Not… Again MLS data says what the Realtor Says it Says.

x

Also with this, this Example WOULD never be used, the Seller, the Borrower, the Realtor and ALL parties looking to get paid – including the Appraiser WOULD never use this comp. they NEED a higher value for that Sale or that Loan to be a Success.

x

"additionally, you will see an appraisal requires multiple verification source. not only mls. i have never used mls data only (to your credit, some fraudulent appraisers may) however this is not the norm"

x

Ok, what other Data Does an Appraiser Use?

Could it be other appraisals that Used the data, could it be

the Broker or a Sellers “interview” – their word for it.

Maybe the Appraiser Uses the Seller’s brother’s appraisal

as “Verification” – I have seen that.

x

Maybe they use bank data, Zillow, or the Talk around Town.
Or is it some other mysterious Market Indicator

that Appraisers “magically” use to Form their

All Knowing Opinion that Sets the Real Estate Market

in their Area and Give the Go ahead for a Sale,

a Home Loan, or a Home Equity Loan.

Multiple Verification Sources…. Lead to the Same Source

r

"either assessor files or deeds typically are
an additional data source. therefore if mls says $350,000
and deed says $340,000 typically there

is a 10k sales concession that needs to adjusted for."

r

Appraisers don’t always look at the deed, and in my limited experience among states,

most I have seen have NO price on the Deed.

R

I think that is Unethical as well for it l

et’s a buyer know what a Seller Paid and it is Nobody’s Business.

Assessor Files ???

They are, the Assesor Files, in my experience hundreds of percents LOWER than I can sell a property for .. so could luck using that as part of the “Verification” Process.

R

By Hundreds of Percents Lower, for Those Who Do Not Understand… What I mean is. If the Assessor says a Ranch is worth $120,000 and I can sell it for 1.2 Million, which happens often, then this is 10 times what the Assessor Thinks it is Worth. So another Words.. for the Math Challenged - if $120,000 is One Hundred Percent of what the Assessor says the Ranch is Worth – than 10 times that is more than a One Hundred Percent Increase and More than a 900 Percent Increase… Hence the Comment “Hundreds of Percents Lower”…

R

real estate data

about commissions. they do not affect value.

real estate confessions

No Commissions DO NOT affect Value in the Current Corrupt System of things.

tell the truth

But they ABSOLUTELY should.

appraisal data
If I charge 4% to Sell a Home and another broker charges 8% to sell a home that is similar by appraisal standards than that is a LARGE difference in One Value to the Next.

Add a Selling Office Commission in and you have ANOTHER huge Cost Adjustment that should be made that the Appraiser is Clueless about.

The Fact that Appraiser Do Not Consider Commission is Corruption in the Data in and of Itself.

x

"concessions do as I’ve identified above. value in an appraisal is what the typical buyer is willing to pay, not what a typical seller is willing to sell for."

x

A “Typical” buyer wants to pay as Low as they Can, a “Typical” Seller wants as much as they can get. The buyer pays what they have to, what the Seller will allow.

r

So VALUE certainly is Created by what the Seller is willing to take. If the Seller sets the agreed on “negotiated” price, and the appraiser puts a value on it based on other SOLD data – so the banks can then lend on it – that price the Seller agreed to Sell for than YES the “Seller being Willing To Sell For…” CERTAINLY does Make, Create VALUE.

I know this is the way things are done. I am saying it is Done Wrong. I know your doing it the way Standards are Set up, I am saying that the Entire Real Estate Industry is a “House of Cards in a Hurricane” and that it NEEDS a Massive and Complete Makeover.

realtor fraud

"sellers pay the commissions not the buyers. so if a seller pays, 3%, 6%, 50% on a $350,000 transaction it doesn't matter. "

x

BULL – the Buyer Pays as Low as the Seller Allows, I am not saying that this is Not Standard or Law… I am Saying it is WRONG and it Definitely DOES create Corrupt Data across the board.
An Who Really Pays the Commission is an argument that could go on for days.

x

I mean the Buyer is the One “willing to pay” as you say and Quite Literally is Really is the Buyers Money, via the Lender that goes to the Title Company that Pays MY commission…

r

The Seller may take less if I the Real Estate Broker was NOT in the transaction so it CERTAINLY does Matter.

x

what matters is what the buyer is willing to pay for that house or a suitable substitute minus concessions. the battle is not with reporting commission, the battle is with reporting concessions.

x

The Battle is All of the Above and then Some.

I am NoT Dissing Appraisers. I am Speaking VERY negatively

about the Realtors and the Data base that appraiser use.
This Data Desperatley NEEDs Quality Control...

NOTE to Post

Buyers Agents use agreements, Buyers Broker Agreements, to Strong Arm Sellers, if the buyers agent does find a FSBO, as they say the can – will and if the Seller finds it the BUYERS agent still demands they get paid, then this is put into the MLS, is this an Arms Length transaction? This goes into the MLS as a FSBO found by a Buyers agent for a seller, will it be used by an appraiser as a Comp? YOU bet it Will… arms length will not come into play if this Comp is Really Needed.

The Real Estate System In Place is Very Very Bad for
Real Estate Consumers.