1004MC-again-with a twist I've never heard of

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Aprazr, Sep 15, 2009.

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  1. Aprazr

    Aprazr Member

    0
    Jan 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    Got a call from the UW wanting to know why the numbers on pg.2 of URAR did not match those on the 1004MC. I said: 'They do'.

    No, she said: when you add up all the sales numbers across the top of the 1004MC it comes out to 29.(sales)

    She was adding the numbers from the 7-12 month + 4-6 month + 3 months to get a total of 29.

    There were 13 sales and 7 active listings in the past 12 months. My 1004MC grid as follows:

    Sales: 7-12 mos=13; 4-6 mos.=12, 3 mos.=4

    Page 2 of my URAR shows exactly the same thing......13 Sales and 7 Listings within the subjct direct sub-division in the past 12 months.

    Am I missing something here? (lol)

    Thoughts appreciated!
     
  2. fifteen

    fifteen Senior Member

    0
    Nov 15, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    They're asking only for the sales during those periods. You're saying there were 13 total in the last 12 months. Then you say 13 happened 7-12 months ago. :)
     
  3. VegasWayne

    VegasWayne Senior Member

    3
    Nov 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Nevada
  4. Aprazr

    Aprazr Member

    0
    Jan 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    Exactly. Please look at the OP again....I broke it down as meant to be.

    7-12 months=13 sales; 4-6 months=12 sales, 3 months=4 sales

    Is this not correct? I have already been to efanniemae.com
     
  5. RSW

    RSW Elite Member

    3
    Feb 18, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    Yes, you are missing something!

    You have to add up all of the sales 7-12 months + 4-6 months + current to 3 months to get the total number of sales for the year.
     
  6. Aprazr

    Aprazr Member

    0
    Jan 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    Thanks guys! I have been there several times(efannie) & guess I mis-understood what the first box meant. I thought it was the entire year and then the next box for that time period, etc.

    I will change it to reflect the proper math.

    Thanks again!
     
  7. VegasWayne

    VegasWayne Senior Member

    3
    Nov 15, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Nevada
    The other thing wrong is that if only 7 properties were listed for sale in the past year, how could there be 13 sales. Weren't these sales listed at some point during the past year.
     
  8. Aprazr

    Aprazr Member

    0
    Jan 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    VegasWayne: there were 13 sales total in the past 12 months. I went to efannie again & re-watched the video.

    Please pass out the handy wipes as the egg is dripping from my face to my chin. I have mis-understood this all along. My thinking was first box: total # of sales within the past 12 months, 2nd box: sales from the prior 4-6 months, etc. I did not realize that the first box was for 'that time frame' only of 7-12 months ago. I see why they were confused, now.

    I re-did it and everything comes out just as they were saying it would (correction: SHOULD) I am glad to have LEARNED something today as I try to do each day.

    Thanks again to all!
     
  9. redfish

    redfish Senior Member

    12
    Sep 2, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Michigan
  10. leelansford

    leelansford Elite Member

    12
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois


    I count 29 comparable sales within the past 12-mo. period.
     
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