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#247522 - 09/02/08 03:28 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Major Contributor
Registered: 08/16/07
Posts: 2813
Loc: X
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Are you getting orders that request an appraised value? If this is your case, there is no reason for a BPO other than to verify if occupied(if you can) and to obtain photos to support the current condition of the subject exterior(if indeed the property is still there).
I never have been asked for an appraised value. The AM company can utilize the www in any Country to obtain this information by simply going to the subject's County Appraisal web site. I have never found any Tax Appraised Value that matches market or Appraisal Value. Tax Appraised Value and Appraisal Values are totally different things. If lenders used Tax Appraised Values to make lending decisions, none of my brokerages contracts would ever make it through underwriting.
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#247523 - 09/02/08 03:31 PM
Re: BPO values being changed by
[Re: TB in TX]
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Member
Registered: 08/29/08
Posts: 37
Loc: Montgomery/Harris Co TX
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I never said anything about 'matching' any pricing. I don't understand where you got this information from. Please show me? You mis-understood.
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#247525 - 09/02/08 03:35 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Major Contributor
Registered: 08/16/07
Posts: 2813
Loc: X
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#247526 - 09/02/08 03:36 PM
Re: BPO values being changed by
[Re: TB in TX]
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Member
Registered: 08/29/08
Posts: 37
Loc: Montgomery/Harris Co TX
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#247527 - 09/02/08 03:41 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Veteran Member
Registered: 09/28/07
Posts: 1166
Loc: Land of fruits and nuts.
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It's like...4 posts up. You wrote it, not her.
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#247528 - 09/02/08 03:46 PM
Re: BPO values being changed by
[Re: AliceInReoLand]
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Member
Registered: 08/29/08
Posts: 37
Loc: Montgomery/Harris Co TX
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Exactly/precisely what did I type? Show me in it's entirety, not this cut & paste what you want & leave the rest out routine that you love so well. You can't because it doesn't exist and you simply made a false statement.
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#247530 - 09/02/08 03:50 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Veteran Member
Registered: 09/28/07
Posts: 1166
Loc: Land of fruits and nuts.
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Whatever man.
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#247532 - 09/02/08 03:51 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Major Contributor
Registered: 08/16/07
Posts: 2813
Loc: X
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I said I would not change my values. I never said that I would not explain my decision. Naturally, when I submit my orders, I always provide a subject pricing strategy even when not asked to explain. Don't you?
I never had this happen to me based on documentation of my pricing strategy and all comps that definitely support my value.
I did learn something from Asset V & M a long time ago, "the client does not want an appriased value, the client want the true market value of the subject". These are different you know? What about current local market conditions, supply and demand, inventory/new/never lived in, to be built/under construction, re-sale, reo/foreclosure, # of active competing/similar properties etc...or are you one of the RE agents that doesn't consider all aspects of the subject in order to reflect a true market value?
Yes, the current appraised value must be considered in such valuations but it is not the leading contributing factor. This is why when I look in my current MLS, I see properties that have been on the market for over 1 year due to the fact that they over-priced, they have astronomical DOM and once archive searched, I find the original LP and all price changes thereafter and also find that the same identical property on the same street, built by the same builder sold within 90 DOM with a realistic(market condition/market value)LP.
Each mentioned above and other aspects must be considered and utilized when documenting the true market value which is completely different from an appraised value.
Are you getting orders that request an appraised value? If this is your case, there is no reason for a BPO other than to verify if occupied(if you can) and to obtain photos to support the current condition of the subject exterior(if indeed the property is still there).
I never have been asked for an appraised value. The AM company can utilize the www in any Country to obtain this information by simply going to the subject's County Appraisal web site.
I do know what I am doing in RE. Always happy to help, Conroe!
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#247533 - 09/02/08 03:54 PM
Re: BPO values being changed by
[Re: TB in TX]
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Member
Registered: 08/29/08
Posts: 37
Loc: Montgomery/Harris Co TX
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So what part of that didn't you understand? Show me in detail exactly what you stated that I typed regarding matching anything.
It's not there and can't be there because it doesn't exist.
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#247534 - 09/02/08 03:57 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Veteran Member
Registered: 09/28/07
Posts: 1166
Loc: Land of fruits and nuts.
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Let me help: I never have been asked for an appraised value. The AM company can utilize the www in any Country to obtain this information by simply going to the subject's County Appraisal web site.
I do know what I am doing in RE. To summarize: I've never been asked an appraised value. Any AM can get this simply by going to the auditors site. I am an expert. v. matched, match·ing, match·es v. tr. 1. 1. To be exactly like; correspond exactly. 2. To be like with respect to specified qualities. You're welcome.
Edited by MadHatter (09/02/08 04:19 PM)
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#247539 - 09/02/08 04:13 PM
Re: BPO values being changed by
[Re: AliceInReoLand]
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Member
Registered: 08/29/08
Posts: 37
Loc: Montgomery/Harris Co TX
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I am going to end this communication with you because as I stated before and what you, yourself have provided that does not accommodate/support your false statement you made and are continuously insisting on making.
What does what you cut & paste in your last message have to do with matching anything? MATCHING??? ***matching****?????
Do you see the word matching or match for that matter?
No, because it is not there and never was there.
I can't put it in more plain simplistic english for you. Madame, you made a false statement and you are wrong.
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#247544 - 09/02/08 04:20 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Veteran Member
Registered: 09/28/07
Posts: 1166
Loc: Land of fruits and nuts.
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So Beachbum...how did it work out?
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#247546 - 09/02/08 04:24 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Major Contributor
Registered: 08/16/07
Posts: 2813
Loc: X
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Real Estate Language 101:
Appraisal Value - determined by a licensed appraiser by physically inspecting the property and reviewing market data
Appraised Value - determined by a county employee, generally from behind a desk and often increasing at predetermined times by predetermined multipliers. This does not derive itself in any way from market data or "match" to paraphrase.
AM Company Appraisal Value Request - refers to the Value as determined by an appraiser using market data, NOT to the value given on a county web site.
Capisci? Probably not.
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#247549 - 09/02/08 04:29 PM
Re: BPO values being changed by
[Re: TB in TX]
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Member
Registered: 08/29/08
Posts: 37
Loc: Montgomery/Harris Co TX
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Improper response and evading the proper/correct answer. I know that you don't really want to incriminate yourself however, it is very unfortunate that this has already occurred.
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#247550 - 09/02/08 04:31 PM
Re: BPO values being changed by
[Re: ConroeReoBpoPros]
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Veteran Member
Registered: 09/28/07
Posts: 1166
Loc: Land of fruits and nuts.
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OMGAWD TB INCRIMINATED HERSELF! Someone quick! Call the FBI! Or worse...a lawyer! She disagreed on the internet, and now thanks to her incriminating fingers, prison is in her future.
Edited by MadHatter (09/02/08 04:33 PM)
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This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
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