Help appraisers: List short sale/foreclosure condition in MLS

Editor,

It would help appraisers a lot if a listing Realtor would include more information in the MLS on foreclosures and short sales.

The appraiser tries to identify the condition of a property when including it in as a foreclosure sale in a comparable sales analysis; but too often, few words are devoted to the condition/amenities/view of the property in the MLS.

I have called many Realtors to learn if a foreclosed or short-sale property is in good or poor condition, the state of appliances, etc. “Condition” can vary from having all of the plumbing and HVAC torn out to being in pristine condition.

Too often, when I call, listing Realtors can’t remember or someone on the team only saw a home once. That’s not to say Realtors aren’t helpful ¬– they go out of their way to help appraisers. But if we know a foreclosure or a short sale is in bad shape, we can adjust for it, mitigating the foreclosure price in the market place.

If listings are completed accurately, it would spare the Realtor from those follow-up calls, and it would save the appraiser time in completing the report. This is not a complaint, just a suggestion to help us appraisers accurately assess the market place.

Jeanne Armstrong
State Certified Residential Real Estate Appraiser RD
First Charter Realty Inc.
Sarasota

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