From the Desk Of:
                        Freddie E. Taylor, MBA
                        Certified Residential Appraiser
                        Chicago, Illinois
                        Subject: How To Select Comparable Properties

 

Dear Colleague,

I am writing you this because I understand how frustrating it can be to not understand how real estate appraisers select comparable properties, and wonder where they get their numbers from. Believe me, it is not magic and you can understand these concepts as well.  I have put a lot of work into making it very easy to understand and follow in this step by step manual. For years, the real estate appraisal process has been shrouded in secrecy. I am sure you have experienced this. You meet the appraiser at the property that is to be appraised, have some casual conversation, and try to engage them in a conversation about value. Only the appraiser begins to withdraw from the conversation and really avoids all of your key questions. What is that all about?

Let me tell you from experience that appraisers are taught from the first day of learning the profession not to discuss value, comparable sales, sale prices, payoff amounts, judgments, or anything else that may have a barring on value with anyone, especially anyone tied to the property that is being appraised. I know this has frustrated many homeowners, real estate agents, buyers, sellers, and investors during my years of appraising in the Chicagoland market. However, this is something that USPAP, Uniformed Standards of Professional Appraisal Practice, takes very seriously and every good appraiser knows not to violate USPAP rules and recommendations.

BUT I DON'T LIVE IN CHICAGO

You might be saying, I don't live in the Chicago area, so how could Picking Comps tell me what appraisers in my market are doing?

You have a valid point, if you are talking about the individual values in your particular market. However, I am not discussing individual neighborhood values in this book. I am covering the procedure an appraiser basically follows or goes through when selecting comparable properties. These uniform procedures are valid in every market from Maine to California and every state in-between.

The neighborhoods might be different, but the procedures you follow as you are weeding out comparable properties are the same sound principals that every appraiser should use. Now over my years of experience as a Certified Residential Appraiser, I have had the opportunity to do some review work for many of the major banks in this country and I can  tell you that some appraisers don't follow these rules all the time. And when they don't, typically the valuation conclusions are questionable.

If you understand what an appraiser should be doing, then you may have some recourse to engage the appraiser and ask them to reconsider in light of the evidence that you put forward. If you understand the lessons taught in Picking Comps, then you will be able to rebut a bad appraisal. If not, you will just have to grin and bare the judgment. Think about how you or your clients would feel if you could present some additional information to the appraiser and get them to change their mind on a valuation conclusion.

Now as an appraiser, I can tell you that at times we make mistakes. It happens. At times, you might over look a potential comparable, miss a bedroom during the inspection, or discount a comparable for whatever reason. In light of this understanding, sometimes I will hear the investor or real estate agent out in their argument for an higher value, but there must be evidence and facts that support this information that was originally missed or discounted.

Don't come to the appraiser talking about the value should be higher because you believe it should be. Prove the value should be higher with facts, evidence, and comps. Picking comps will give you the understanding and insight to do just that. Understand the appraisal and even select comparable properties that may have gone unnoticed by the appraiser.

BUY IT NOW!

HOW PICKING COMPS EFFECT YOU & YOUR BUSINESS

But first, allow me to illustrate how I understand your situation by giving you some examples of the situations that you might be dealing with....depending on where you stand in a transaction.

Real Estate Agents: Imagine you have done the two step, been all over town with a client, dealt with the lender, negotiated with the seller, organized the home inspector, and dealt with the finicky feelings of your buyer only to have the appraisal to come in $25,000 short of the sales price and kill your deal. Frustration only puts how you might feel in this situation lightly.

Yet, if you understood these simple principals outlined in Picking Comps, you would have know to negotiate further with the seller and reason with them with facts. Same result if you were the seller's agent, you would be able to save the deal by specifically showing the seller why they need to lower their price.

Real Estate Investor: Imagine you finding the perfect property. Your plan is to buy a mutli-unit building, complete some cosmetic work, locate a renter, and earn yourself a $1,100 monthly cash flow in the process after PITI, principal, interest, taxes, and insurance. Not a bad deal, right? Well, the appraiser comes out and valuates the property for $15,000 below what you made your purchase bid and the deal falls apart. You are very frustrated with the appraiser, but seems like nothing you can do. You thought the value was going to be one number, but the appraiser found something totally different. What are the appraisers looking for to determine value? You don't have to guess any longer.

Buyers, Sellers, & Refinancers:  Imagine you are in the dark on one of the biggest financial situations of your life. A home is typically the most important purchase any person will make. Doesn't it make sense to learn as much information about this situation as possible. Particularly the elements that determine value. It is the most important element. Once you have this understanding it will continue to benefit you down the road when it is time to move to the next phase of your life.

ISN'T IT TIME YOU STOPPED GUESSING ON VALUES?? YOU AND YOUR CLIENTS DESERVE BETTER. GET YOUR COPY OF PICKING COMPS TODAY!!

Only $19.95

WHY YOU WILL LEARN FROM ME

You will learn from me because I have been a real estate appraiser since 2002 have have over 7 years of experience in this business.

 

YOU WILL GET:

The single most important benefit of purchasing the Picking Comps ebook is the confidence it gives homeowners and buyers. While the professional real estate brokers and investors gain from the understanding, but also from the additional authority it provides them in their industry and networking circles. Authority leads to more business.

	You will get a STEP BY STEP  system to funnel out relevant comparable properties in any market.
	You will get insight into the rationale of the appraiser as real estate comparable properties are selected.
	You will gain credibility and confidence in the marketplace. An increase understanding makes you more insightful when addressing your clients and associates.
	You will get the insight to present the facts to buyers, sellers, and your clients to make the best deal for all parties involved. Everyone is after the win-win, but it sits on top of understanding.
	You will get to stop guessing at values. >
	You will get Picking Comps right a way. NO DELAYS! IMMEDIATELY to your inbox

Only $19.95

 

 

SO, THERE IT IS!! You can finally stop guessing at values?

Everything is laid out in front of you. You are going to learn the foundational steps taken during the valuation process. This will allow you to better identify the properties that determine value. There are some clear principals to be gathered for knowledge base to carry you forward.

And for limited time, if you buy Picking Comps right now, I will throw in a bonus offer of a 30 day, money back guarantee. If you don't learn at least one valuable concept or idea from this buy, your money will be refunded. My charge to you is that you take the process and try it out on real properties, real life situations that you are encountering first, then make a decision on if it works for you. If you do this, I am confident this process will be useful to you.

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BUY IT NOW -  MONEY BACK GUARANTEE FOR 30 DAYS!!!

Only $19.95