Discussion in 'Oregon' started by OSU Beavers, Mar 12, 2009.
Anyone figure out the correct way to do this?
NAIFA is offering a class this Wednesday at Clackamas Community College.
If you're a member (with an education certificate) it's only $35 including materials. It's an 8 hour class and supposed to be "in-depth".
Non members can attend as well. Not sure the cost but it's on the website.
Thanks, too far away for me and I already have and appointment then. There are never any classes in Bend darn it. Let me know how much data filtering is required.
Brad Armburst will be in Bend tomorrow.
Just took his class today and believe me he was great!!!!
My entire office took Brad's class and it was a good one. There's currently no "easy" way to do it, Beav. With the RMLS you have to run 6 separate searches - three by list date and three by sold date. Remember the RMLS is going to give you averages, not medians, so you'll need to disclose that. You can muddle through it on your own but I highly recommend a class. The instructors will give you tons of helpful hints and insight as to what Fannie is looking for. I think most will agree it's too much to impart in this forum but hopefully that gets you started!
I b!tched, they answered:
Attention Appraisers: Help With the 1004MC is on the Way
We’re Adding Median Information at the End of the Month
Appraisers, we’ve heard that Fannie Mae is requiring you to fill out a new 1004MC form starting April 1, 2009. Later this month, we are adding the following statistics to the Summary Only report on RMLSweb to assist you in filling out the form:
•Median List Price
•Median Sale Price
•Median % SP/LP
I also sent in a request that RLMS add in a nice lil time saving search feature. Instead of having to enter in the dates, a addition to the drop down list to break it up from current day (and or a window to enter in the inspection date) to 4-6 months and 7-12 months... obviously current to 3 months is allready there.
In addition there is a nice download on the efannie.com site that talks about the new form for those still m2:
Lastly... statisically I dont see how this form is valid. From a Eugene standpoint there isnt really a big enough market segment to give a good measurement. /shrug.
Well, sorry to let you know SOMLS has made all the changes to accomodate the 1004MC as of today!!!
Now what they did is really great and they really worked hard, but the data is not correct.
Brokers do not report concessions and therefore, the 1004MC information is invalid. Really good try.
Read the article on Appraisalscoop.com and make sure you are in compliance with the 1004MC, no matter what the data reflects!!!!
Last I heard, the Board of Directors approved mandatory reporting on SOMLS for realtors to indicate the amount of concessions. They are even having fines for omission of concessions
Wish RMLS did that. Save a heck of alot of time. Fines...might be alil much, but realtors should know that information is pertenant.
On a side note for sales concessions- I still hear about people/appraisers that dont call to find out sales concessions because of some legality awhile back that basically boiled down to realtors not being able to disclose certain info (cant remember what it was cause I personally ignored it and still made my call to ask and they have always given it to me). So a few appraisers used and continue to use that as a scape goat.