Tagged: comparable properties

September 29, 2016

What Do You Suppose Might Have Caused This?

In my area, the Market Conditions data is basically worthless. Folks, One of the data analysis aspects I do in all reports is research sales trends of comparable properties, using MLS data, and making a graph to show report readers the actual market activity that has occurred over a long real estate cycle…usually 4-5 years back from the Effective Date. I use this to supplement, but not replace, the cruddy Market Conditions form, which poorly accounts for only 12 months of activity. In my area, the Market Conditions data is basically worthless. I’m sharing this because in the 8 years...

1004MC / Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM

November 24, 2015

MC Form & Incorrect Reporting of DATA

Appraisers, Wednesday last week (11/18/15) WorkingRE published, via their e-Newsletter, an article I submitted to them as an ‘exclusive.’ I was in a jet to Las Vegas to attend the Appraisal Summit & Expo that day. In case you did not see the article, I’m letting you know about it here. You can access the WorkingRE version of the article here. I want to thank those appraisers who left comments on the WorkingRE site, included below the article, and to those appraisers who wrote me directly. Getting feedback is critical, and appreciated. And kudos to Isaac Peck, Editor and David Brauner, Publisher,...

1004MC / Appraisal / Appraisal News / Appraisers News / UAD / Uniform Appraisal Dataset

November 10, 2015

FHA Appraisal Report & Prior Sales

FHA appraisers, When the new 4000.1 Handbook and associated Data Delivery Guide were released not long ago, astute readers noticed that FHA showed that they wanted the Comparable’s prior transactions to be reported back in time THREE YEARS, not just 1 year as per the form. Well, guess what? That apparently was an error, because the REVISED Data Delivery Guide, Effective Nov. 5, 2015, has that corrected back to ONE YEAR, which ‘sort of’ corresponds with the info on the GSE forms. Eagle eye readers will note there may still be an error with this! The form says …the year prior to...

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

Share Comps: Shared Appraiser-Only Database

January 16, 2015

Comps Exchange Data Base

I’ve always said that I think it’s insane that everyone has access to appraiser-provided data EXCEPT the appraisers who generated the appraisals in the first place. That needs to be fixed. So, we’re creating a system enabling you to seamlessly share comps among yourselves. You’ll have the same data that’s being used to judge you. We’re confident it will be effective: a la mode users alone generate enough appraisals per day to cover the entire market with high quality subject and comp data. With just the existing TOTAL and Aurora users joining in, tens of millions of comps will be available, exactly like in...

a la mode / Appraisal / Appraisal News / Appraisal Software / Appraisers News / Collateral Underwriter