The Announcement 8-30 changed from which date the time adjustment is to be made. The old guideline read as follows. “Time” adjustments must be representative of the market and should be supported by the comparable sales whenever possible. The adjustments must reflect the time that elapsed between the contract date (or the date of the “meeting of the minds”) for the comparable sale and the effective date of the appraisal for the subject property. The revised states, Selling Guide, Part XI, Section 406.05D: Date of sale/time adjustment The following is being added to Section 406.05D of the Selling Guide: If in the analysis and completion of the sales comparison approach the appraiser determines that time adjustments are required, the adjustments may be either positive or negative. The adjustments, however, must reflect the difference in market conditions between the date of sale of the comparable and the effective date of appraisal for the subject property. Although I do not do much Fannie Mae work any more I believe this is a big mistake. I can tell you in my market a one or two month period from date of contract to sale date can make as much as a 10-20 thousand dollar difference in value. What is your take on this change.