This is a pretty niffty detailed chart for finding time adjustments, we are done.

[Mike Ault]

I heard others were decline/got rid of. During recession, my line of credit was left opened.
AI must be doing their job well knowing who were credit worthy.

Your saying the computers did a good job of predicting credit worthiness during this period?

Question: How much did the 2008 market crash cost?

Answer: Between 2007 and 2009, U.S. households lost over $16 trillion in net worth, the value of the stock market fell by half, and unemployment reached 10% as the crisis turned into the Great Recession..

How much did the 2007 2008 financial crisis cost the world economy - Google Search

 

[Tom D]

The feds knew that the 2008 market was going to crash a year before it did. They admitted it. But did they start rising the rates slowly at the point they realized a big problem. No, they never do. The savants over there never seem to get it right. They are totally to blame with the help of banksters. Hey, it's a protected class, banksters and the fed.

 

[Doug Bennett]

Beginning in February 2025, appraisers will be required to provide support for time value adjustments for comparable sales (comps) and market conditions—and also include an illustration of the methodology used.

If we can have a program that says and does this and puts in the numbers, life gets easier. If you have to figure out yourself all this and write it, no extra pay for extra time spent. Also, this is showing you that fannie has the program to burn you. And of course, their avm will have this. Another domino falls to end of appraisers.

View attachment 94533

Are these changes a function of price per sq ft? If not, how do you know that it was changes to the market or changes as a function of location, amenities, etc??

 

[TerryRohrer]

Are these changes a function of price per sq ft? If not, how do you know that it was changes to the market or changes as a function of location, amenities, etc??

You don't need to know a thing. Just cite the FHFA housing price index and make an adjustment. In limited testing so far, I have found it to mostly overstate gains when comparing two sales of the same home. Fortunately, I haven't seen any overstatements by more than about 35% yet. It should go a long ways toward over estimating values in minority neighborhoods and minimizing appraisal gaps.

 

[Fernando]

The feds knew that the 2008 market was going to crash a year before it did. They admitted it. But did they start rising the rates slowly at the point they realized a big problem. No, they never do. The savants over there never seem to get it right. They are totally to blame with the help of banksters. Hey, it's a protected class, banksters and the fed.

Housing market was getting weak early 2008. Prices were starting to decrease.
I remembered that summer was the Olympics in China.
Can't help to think that China kept the world economy "stable" until after the Olympics was over.
By then the organic course of world downturn eventually occurred.

 

[Tom D]

You don't need to know a thing. Just cite the FHFA housing price index and make an adjustment. In limited testing so far, I have found it to mostly overstate gains when comparing two sales of the same home. Fortunately, I haven't seen any overstatements by more than about 35% yet. It should go a long ways toward over estimating values in minority neighborhoods and minimizing appraisal gaps.

First time see this interesting site. It's not the easiest to find the micro info that you need. Our MLS provides year and quarterly price indexes in a more county, zip code, chart friendly understanding way. The realtor's site provides trend data too. Seems like it there, but there are appraisers who just do the minimum. Fannie CU has all that data, but they don't share it, it's used to find your mistakes, not to help you be better.

 

[Non Sequitur]

Fannie CU has all that data, but they don't share it, it's used to find your mistakes, not to help you be better.

I wonder why?

 

[Non Sequitur]

Posted today in a Facebook group:

 

[jay trotta]

In the Spring Catalog, er, Selling Guide, we will get a chart of adjustments that will meet policy (makes me think I need to build an outhouse). Then everyone can be consistent with policy. No one will be appraising, but in government, if it is on paper, it is golden!

ahhh, the book of adjustments has reared its head once again........

 

[Tom D]

What's so hard. We got 10 fingers and 10 toes. That's more than we need for each month adjustment. It's called the 'rule of thumb' adjustment.