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What is a Comp Check? Wikipedia's Full Definition, is edited as follows: Comp Check for Appraisals in Henderson, Las Vegas and Clark County Nevada by Appraisers in Nevada

"A term used by mortgage professionals to request a real estate appraiser to run comparable sales in order to determine the value of a property before the appraiser is actually hired to complete the assignment.

The purpose of a comp check is to get an appraiser to estimate a value before being hired/paid for the assignment; thus, if hired, the appraiser is on the hook for the value they already reported.

Comp Check for Appraisals in Henderson, Las Vegas and Clark County Nevada by Appraisers in Nevada checkThe practice can be highly detrimental to the appraisal profession as it is illegal (see below). Moreover, it can cause harm to buyers and sellers of real estate alike as evidenced by the following article. [2]

Licensed real estate appraisers are bound by a set of laws called the Uniform Standards of Professional Appraisal Practice USPAP, written by the Appraisal Foundation [3]. In the Appraisal Foundation's ADVISORY OPINION 19 (AO-19) [4] the Appraisal Foundation makes clear the following:

An appraiser must perform assignments ethically and competently, in accordance with USPAP Comp Check for Appraisals in Henderson, Las Vegas and Clark County Nevada by Appraisers in Nevada tinyand any supplemental standards applicable to the assignment. An appraiser must not engage in criminal conduct. An appraiser must perform assignments with impartiality, objectivity, and independence, and without accommodation of personal interests.

An appraiser must not accept an assignment that includes the reporting of predetermined opinions and conclusions, and

Further, the MANAGEMENT section of the ETHICS RULE in USPAP states:

It is unethical for an appraiser to accept an assignment, or to have a compensation arrangement for an assignment, that is contingent on any of the following:

the reporting of a predetermined result (e.g., opinion of value);

a direction in assignment results that favors the cause of the client;

the amount of a value opinion;

the attainment of a stipulated result; or

the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose (bold added for emphasis).

Click below for a video from Brian Weaver, Director of the IL Appraisal Dept:
 
What about Zillow? See this link and this news report about Don Foster Scoggins, Appraisers of Las Vegas.com and Zillow.com: 

Here is how you can get a free comp check.  See the following list of several internet services that (in some way or another) provide a rough idea or a free comp check of a property's value in Las Vegas, Clark County, Nevada and nationally.   Buyer Beware! 

Las Vegas value ranges can be provided in an appraisal; however, we usually conclude a point value estimate.

Appraisers of Las Vegas.com conducted a study of a particular house (100 Celia Place, Las Vegas, NV 89145) as of August 3, 2007.  We completed a Limited Appraisal of this property and opined $250,000. We also surveyed all of the following sites as of this date.  The following lists shows the result of our most recent study:

  1. RealEstateABC - $321,000  (Free)                 
  2. Zillow - $279,014 (Free)
  3. Bank of America - $260,000 to $321,000 (Free)
  4. Yahoo - $279,014 to $335,689 (Free)
  5. Reply - 335,689 (Free)
  6. Trulia - N/A (Avg. list price for similar homes: $297,998)
  7. Domania N/A "Value Check By a Local Agent"
  8. Home Gain  N/A "suggested listing price from a local expert"
  9. Home Pages, N/A "Your request will be forwarded to a Licensed Real Estate Professional"
  10. HouseValues.com, N/A Personal information is required.

So, get it from amn appraiser who knows or get it free on-line.  You get what you pay for.  This range of values ($260,00+, $279,014+,  $321,000-, $321,000 and $335,689-) is confusing.  It can not help anyone.

http://appraisalnewsonline.typepad.com/appraisal_news_for_real_e/2006/08/illinois_comp_c.html

Las Vegas Comparable Sales News of Las Vegas Appraisals Relative to Comp Checks
 
CoStar's Daily Deals of Note for Thursday
8/6/2008 9:20 PM
SOUTH FLORIDA AEW Buys 355 Alhambra From JPMorgan by Derrick Bogger AEW Capital Management of Boston has acquired the 223,000-square-foot office tower at 355 Alhambra Circle in Coral Gables, FL, from JPMorgan Investment Management, CoStar News has........
 
Closures & Layoffs (Aug. 3-9): Six Months of Shrinking Employment
8/7/2008 5:11 AM
In this week's issue: Payroll employment falls again. PolyOne closing six plants. As goes print advertising so goes jobs. Plus we report on company closures and layoffs in: California, Florida, Illinois, Kansas, Massachusetts, New Jersey, New York........
 
Watch List (Aug. 3-9): Unrealized and Unfulfilled Ambitions, There is a Difference
8/7/2008 5:05 AM
In this week’s issue: KKR reveals real estate ambitions. Three REITS form debt investment JV. A Brookfield fund folds. A Carl Icahn homebuilder files Ch. 11. And more homebuilders are on the ropes. Plus, we give you the latest properties on the........
 
Under Contract (Aug. 3-9): CBRE Realty Eyes NoVA
8/7/2008 5:04 AM
In this week’s issue: CBRE Realty Trust makes play for Chantilly, VA, offices. Plus we give you the latest properties Under Contract in: Valencia, CA; Brookfield, CT; Margate and Cortez, FL; Cedar Rapids, IA; Channahon, IL; Brighton, MI; Raleigh, NC........
 
Property Finance (Aug. 3-9): Money Riding on KPMG Renewal
8/7/2008 5:03 AM
In this week's issue: Permanent financing hinges on KPMG re-upping. Plus we give you new property finance deals and a valuable leads list of loans maturing in the next 12 months. Permanent Financing Hinges on KPMG Lease Renewal FSP 303 East Wacker........
 
Expansions & Relocations (Aug. 3-9): Duke, CBRE Rack 'em Up in Ohio, Penn
8/7/2008 5:01 AM
In this week's issue: CBRE puts together a string big deals in Pittsburgh. Duke Realty doing the same in Cincinnati. Rolls Royce rolls into Prince George, VA. Porsche motorin' into Lehigh Valley, PA. Green Mountain Coffee chooses Tennessee valley........
 
CoStar's Retail News Roundup: Aug. 3 to 9, 2008
8/4/2008 2:40 AM
This week in the Retail Roundup, CoStar reports on expansions or new concepts at Coach, Tasti D-Lite; new retail developments in WA, VA, FL and TX; acquisition, merger, loan or sale activity at Steve & Barry's, Pep Boys and Centro Properties Group; closings........
 
Western Funding Sells Office for $1.75M
8/1/2008 3:24 AM
Personal credit institution Western Funding Inc. sold the office building at 720 E. Charleston Blvd. to a private investor for $1.75 M or about $152 per square foot. The seller occupies 1,200 square feet in the building and will continue to lease from........
 
Las Vegas Flex Sells for $3.2M
8/1/2008 1:32 AM
Las Vegas-based developer Offsite Development Inc. purchased the flex building at 1637 W. Brooks Ave. from multiple private trusts for $3.2 million or $396 per square foot. The 8,080-square-foot light distribution building is in the North Las Vegas........
 
Flex Condos Trade for $1.1M in Henderson
8/1/2008 1:23 AM
Hedley Construction and Management Inc., a Costa Mesa, CA-based developer, sold two condo units at the H Biz Center in Henderson to a private trust for $1.13 million, or about $156 per square foot. The 1,993-square-foot and 5,220-square-foot units........


Las Vegas Comparable Sales News of Las Vegas Appraisals Relative to Comp Checks
 
Summerlin Centre Real Estate Developer Halts Progress At Least A Year
8/7/2008 1:10 AM
Summerlin Centre real estate developer halts construction progress for at least a year.  Construction delays on the Las Vegas Strip, including Echelon resort, are sending a ripple effect throughout the valley.  The recent delay involving General Growth Properties’ shopping center, named High Street at Echelon, extends to their retail propert......
 
Million Dollar Luxury Las Vegas Real Estate Sold From July 29-Aug 4
8/7/2008 1:10 AM
Las Vegas Nevada Real Estate Luxury Real Estate Home Sales For July 22 - 28 2008 $1.9 million, Roma Hills in Henderson, Nevada, 6,112 square feet, 4 bedrooms, 4 baths, chef’s dream gourmet kitchen, cherry cabinets, spiraling staircase, poolside barbecue, home theater, resort yard and wonderful Strip view. $1.63 million, North Las Ve......
 
One Queensridge Place Las Vegas Luxury Condos Extends Loan Repayment
8/7/2008 1:10 AM
One Queensridge Place Las Vegas luxury condos receives loan extension until from mortgage lenders until May 2009.  The real estate developer of One Queensridge Place near Summerlin, Nevada is IDB Development Corp. IDB company is also developing the mixed use project, across the street from One Queensridge Place, the Tivoli Village at Queen......
 
Calendar Of Conventions In Las Vegas Nevada Hotels Aug 19-25 2008
8/7/2008 1:10 AM
Calendar of Conventions in Las Vegas Nevada Hotels Las Vegas Convention Schedule For Aug 12 - 18 2008 Accela User Conference 2008 Venetian Las Vegas Strip Hotel Casino      08/19/2008      08/22/2008      600 NISH - Secure Mail/Digital Document Services Hilton Garden Inn     08/19/2008     08/20/2008     20 Nollet ......
 
Echelon Las Vegas $4.8 Billion Hotel On The Strip Stops Construction
8/7/2008 1:10 AM
Echelon Las Vegas $4.8 Billion hotel on the Strip stops construction progress.  Today Boyd Gaming Corp. said the challenging credit markets and difficult economic conditions will delay construction until mid 2009. Market and credit analysts were hoping the megaresorts expected to open in Las Vegas, Nevada during 2009 and hiring of employee......
 
Downtown Las Vegas Opens Doors To New World Market Center Building C
8/7/2008 1:10 AM
Downtown Las Vegas opens doors to new World Market Center building C.  This week, one of the three building campus, opened a $550 million building.  Despite the economic conditions across the country the 17 story building welcomed furniture suppliers and manufacturers. The week marks the summer market a weeklong event, one of two annual, a......
 
Upfront Condos In North Las Vegas Sit Unfinished Due To Foreclosure
8/7/2008 1:10 AM
Upfront condos in North Las Vegas real estate sit unfinished due to a developer foreclosure.  The mid rise condos along Centennial Parkway look abandoned with half completed buildings, broken windows and an empty pool. About 18 months ago units started closing for condo buyers at Upfront.  Since then only eight of the total 75 units have [......
 
Million Dollar Luxury Las Vegas Real Estate Sold From July 22-28 2008
8/7/2008 1:10 AM
Las Vegas NV Real Estate Las Vegas Luxury Real Estate Home Sales For July 15 - 21 2008 $2.18 million, Turnberry Place Las Vegas, 4,103 square feet, 3 bedrooms, 4.5 baths, 35th-floor luxury penthouse condo, entertainment center, custom wet bar and balcony. $1.18 million, Red Rock Country Club Las Vegas, 4,423 square feet, 4 bedrooms,......
 
McCarran Airport Las Vegas Passenger Traffic 7 Percent Fall In June
8/7/2008 1:10 AM
McCarran Airport Las Vegas, Nevada passenger traffic 7 percent decline in June, 2008.  The nation’s current weakened economy puts a damper on the leisure travel industry to Las Vegas residential real estate. The amount of departures and arrivals at McCarran International were approximately 3.9 million.  Year to date totals for passenger tr......
 
Calendar Of Conventions In Las Vegas Nevada Hotels Aug 12-18 2008
8/7/2008 1:10 AM
Calendar of Conventions in Las Vegas Nevada Hotels Las Vegas Convention Schedule For Aug 5 - 11 2008 Extreme Diva Media Edit Live Seminar  Clarion Hotel & Suites - Emerald Springs      08/12/2008      08/15/2008      40 Training Seminar New York-New York Hotel & Casino     08/12/2008     08/14/2008     15 Western S......


Las Vegas Comparable Sales News of Las Vegas Appraisals Relative to Comp Checks
 
GGP Delays Summerlin Centre Opening
1/1/0001 12:00 AM
LAS VEGAS-The opening of the 107-acre mixed-use development here--and several others around the nation--is pushed back to ensure an opening with low vacancy......
 
Vegas Land Sales at Record Low, Prices Retreating
1/1/0001 12:00 AM
LAS VEGAS-Second quarter vacant land sales activity was off nearly 60% from last year despite the $751-million land sale next to the Hard Rock Hotel on Harmon Boulevard......
 
Investor Group Moving Toward Development at Apex
1/1/0001 12:00 AM
LAS VEGAS-With the undeveloped industrial park now part of the City of North Las Vegas, the investors who own the chunk closest to existing utilities is gearing up for development......
 
Boyd Halts Work on $4B Echelon Project
1/1/0001 12:00 AM
LAS VEGAS-Under construction for the past year and scheduled to open in late 2010, the $4-billion development on the Las Vegas Strip will stop and Boyd’s joint venture with Morgans Hotel Group for two hotels on the property will dissolve......
 
Vegas Industrial Vacancy at 7.7%, Heading to 9%
1/1/0001 12:00 AM
LAS VEGAS-Net absorption comes in at nearly 700,000 sf in the second quarter but new construction deliveries total more than twice that amount, pushing vacancy up 60 basis points, according to a new market report......
 
LVSands Corp. Trimming Las Vegas
1/1/0001 12:00 AM
LAS VEGAS-Calling the local market “challenging” and saying it may “continue for some time,” CEO Bill Weidner tells analysts the company will “trim headcount” here by 1,500......
 
Plise COO, CFO Resign, Returning as Advisors
1/1/0001 12:00 AM
LAS VEGAS-Mitchell D. Stipp and James L. Moore resign their respective posts and launch MSJM Advisors, which will provide advisory services to Plise and its affiliates.......
 
2M-SF Nevada Industrial Portfolio Comes to Market
1/1/0001 12:00 AM
LAS VEGAS-Built by Panattoni over the past few years, the seven-building package includes 267,500 sf in Las Vegas, 1.4 million sf in Reno and 337,500 sf in Fernley......
 
Vegas Office Vacancy Hits New Peak: 16.7%
1/1/0001 12:00 AM
LAS VEGAS-Availability is 40% higher than 10-year average and will continue rising if demand can’t offset business contractions and the 3.6 million sf of new projects under construction......
 
Sin City’s Apartment Market May Be Heaven for Investors
1/1/0001 12:00 AM
Despite still dealing with the housing crash's aftermath, Las Vegas’ multifamily market has some interesting upside for investors and developers......


Appraisers of Las Vegas Appraises Houses to High-Rises.   Expert residential and commercial appraisals of all types of real estate by Nevada Licensed and Certified Residential and Certified General Commercial Appraisers in Las Vegas, Henderson, North Las Vegas, Boulder City, Clark County and all of Southern Nevada.  We also provide appraisals in the Clark County communities of Summerlin, Paradise, Aliante, Seven Hills, Anthem, Green Valley, Southern Highlands, Sun City, Spanish Trails, Spanish Hills, Rhodes Ranch and all of the local condo communities.


Stroy, LLC dba Appraisers of Las Vegas 800 N. Rainbow Boulevard Suite #148 Las Vegas, NV 89107
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