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Marshall & Swift

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Jo Ann Meyer Stratton, Oct 29, 2013.

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  1. Jo Ann Meyer Stratton

    Jo Ann Meyer Stratton Elite Member

    40
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    Contacted Marshall & Swift about a question today that I had never thought about in the 31 years I have been using their handbook. On the Fannie and Freddie forms I have always typed in the date on the page I was referring to. Turns out I should have typed in the date on the Quarterly Multiplier's page.

    Any body else run into that?
     
  2. Tim Hicks (Texas)

    Tim Hicks (Texas) Elite Member
    Gold Supporting Member

    54
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    I have always put the current date of all quarterly updates as they send quarterly changes.
     
  3. MEL

    MEL Member

    9
    Feb 27, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Massachusetts
    Same here as Tim. I use the date from the quarterly multipliers page.
     
  4. Peter LeQuire

    Peter LeQuire Elite Member

    102
    Jan 3, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    You're supposed to learn something every day - it's early yet: maybe I'll learn two things. Thanks, Jo Ann.
     
  5. Jambalaya

    Jambalaya Junior Member

    5
    Dec 28, 2010
    Professional Status:
    Certified Residential Appraiser
    State:
    Connecticut
    I have always just left it at year. No one questions me. I subscribe to Marshall and Swift. I do no know many appraisers who do.

    / I always assumed most appraisers lied when they put Marshall and Swift down as cost source.
     
  6. Michael Tipton

    Michael Tipton Senior Member

    0
    Sep 25, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I used M & S's on-line web site most recently. I printed out the cost form with the dates listed on the printout, current month if my memory is correct.

    https://www.swiftestimator.com
     
  7. Michael S

    Michael S Senior Member

    17
    Mar 18, 2009
    Professional Status:
    Certified General Appraiser
    State:
    New Mexico
    I've always put the date of that section and page I'm using. I just assumed that the reader would expect that the local and regional multipliers would be the current ones as of the date of value.
     
  8. Jo Ann Meyer Stratton

    Jo Ann Meyer Stratton Elite Member

    40
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    It is time for me to renew my M&S subscription so I called about the Swiftestimator instead of the book. There is a $10 charge every time it is used. There could be a circumstance where you did calculate a Cost Approach and then later you decide you need to re-do it. That would cost another $10. After doing that over 25 times, it becomes much more expensive than buying the book. So I will renew my subscription to the book instead.

    With so many of you saying you have been entering the month and year of the quarterly--I was feeling very dumb. But there seems to be some of you that have been in the same boat I have been, so I don't feel so dumb after all! I used a Cost Manuel developed by the Arizona Department of Revenue for 14 years before using M&S starting 31 years ago and transferred my habits from that and never thought about the quarterlies. Very seldom refer to them any way since prices are so wild in this area. There can be a 20% difference between general contractors building in similar locations, for the same floor plan, buying the materials from the same supplier and using the same sub-contractors. So the Cost Approach is not very reliable here to begin with.
     
  9. Michael Tipton

    Michael Tipton Senior Member

    0
    Sep 25, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Swiftestimator allowed me to edit a completed CE without charging a fee.
     
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