By: Baggins

Baggins — Sat, 31 Mar 2012 12:53:10 +0000

Great letter. / Of additional note is that the liquidation approach can be inconsistent, depending on the market. Exposure time is key to understanding how long a property must be marketed in order to receive fair market value. Especially when dealing with farm and rural, typical exposure time is oftentimes more lengthy. It’s the constant lender mandates for 30-120 day quick sales that can also drive pricing downward, similar to dated assessment figures, and improperly developed automated price statistic models for home valuations. In a perfect world, an appraiser would be there to identify a wide range of considerations otherwise overlooked in mass assessment, and computer based valuation approaches. That service can be much more valuable than expected if unusual situations are present. Also the appraiser could provide guidance for lenders regarding proper exposure time for individual properties, if only the lenders would not approach their selling time frames towards bank owned sales the same way, regardless of locale and type of home. Sometimes there are too many bank owned homes which create multiple years of stock, and liquidation value & price is a must. Still, that cannot be determined using dated assessment, which by the way, assessment figures are used heavily by multiple popular automatic valuation models available to the public free of charge on the internet. In my areas of CO, reassessment happens every 2 years. I could not imagine having to muddle through complex appraisal analysis in a market where lenders are purveying properties based on highly dated assessment figures.

Comments on: Sentencing Guidelines Proposal

By: Baggins