COMP SEARCHES This is how we comply with USPAP and serve our clients as well.  Here are the various ways.

We prefer that you use or form, indicate comp search in the scope of work section special instructions.  You may use your own form, but the more information the better and more reliable the response will be. ORDER FORM

1. SIMPLE

You supply an address; and we will return all SFR, condo, or 2-4 flats in the marketing area. This will be done at no charge, for the first three requests, without an order.

2. SIMPLE with an order

You place an order with an estimated value.  If the estimated value is within the range of homes in the subject’s neighborhood, we will set an appointment, develop an opinion of value and prepare an appraisal report.  If the estimated value is not in the range, we will decline the order, without comment as to why.

3. SPECIFIC HOME VALUE RANGE

We can and do provide our clients with some information on request.  We can give you raw information.  The rules limit the information we can supply to you to market specific requests.  For instance, you may ask how many 3 BR, 1 bath ranch homes with a basement sold within 1/2 mile of 123 Main St.  We can respond to that with a list of sales that match your description; with NO opinion as to likely value within that range, and NO additional filtering.

One would receive a list from the MLS with addresses, list & sale prices, #of bedrooms and baths, that match the criteria that was supplied to us.

This requires that our form be filled out.  ORDER FORM This will be done at no charge, for the first three requests, without an order.  Also, three free with every completed order.

4. FREE ON LINE VALUE ESTIMATES.

These two links provide instant AVMs on line.

http://www.realestateabc.com/home-values/

http://www.zillow.com/

The accuracy of any AVM is questionable, and depends on the similarity of nearby home sales.

5. COPY OF A PREVIOUS APPRAISAL.

If you or your client have a GOOD copy of a previous appraisal, PDF copy preferred; we will review the appraisal, and give an opinion of the value conclusion.  We almost always do this at no charge. 

6. LIMITED RESTRICTED SUMMARY APPRAISAL REPORT WITH SPECIFIC HOME VALUE RANGE

We can do a “limited restricted summary appraisal report”, which does NOT meet FNMA or most other lender guidelines; but is 95% accurate and does meet USPAP requirements.  Currently, we do this for 3 different lenders on a regular basis. It is far more accurate than any AVM, and costs just a bit more than the AVMs that lenders pay for. The cost is $25 each prepaid.  The cost can be deducted from the order if a full appraisal is ordered. One free with every completed full appraisal order! 

The request for this report also requires the use of our form. ORDER FORM The response is in a brief e-mail response giving a most likely value range, and a list of the most likely comparable sales and or listings.  This range is usually plus or minus 5%, if we have good data available and when given the correct information on a property

The e-mail response to this order is returned the following morning or later the same day.

If we cannot give a reliable value range, there is no charge.  In the 8 years I have been doing this limited, restricted appraisal, only 1 time have I over estimated the value.  Most of the under estimates were because of incomplete information about the home especially positive features or updates not mentioned.