Welcome to the new 1004

[alebrewer]

The long awaited update has been released.

 

[Airstream]

Interesting. It seems to me there is a lot of crap to read through. It's going to take longer to fill out simply because there is so much other garbage in the report that has nothing to do with the subject and it is going to be easy to miss something. My guess it will take an extra hour to 2 hours to fill out a report. And then all the call backs and stipulations are going to add more time. One thing I noted, and maybe I missed it. In the certifications it doesn't say anything about visibly inspecting the comparable sales from the street. Did I miss it? Correct me if I did.

 

[alebrewer]

Interesting. It seems to me there is a lot of crap to read through. It's going to take longer to fill out simply because there is so much other garbage in the report that has nothing to do with the subject and it is going to be easy to miss something. My guess it will take an extra hour to 2 hours to fill out a report. And then all the call backs and stipulations are going to add more time. One thing I noted, and maybe I missed it. In the certifications it doesn't say anything about visibly inspecting the comparable sales from the street. Did I miss it? Correct me if I did.

Yeah - several changes to the Cert page. I didn't see current Cert #4 in there either. My guess is that a lot of that info will be auto-populated via the PDC or MLS data mapping. But I agree - seems like this is going to add an hour or two to the report write-up...

 

[Charles West]

I just breezed through the download, 43 pages. Wow.

 

[Airstream]

I just breezed through the download, 43 pages. Wow.

I know. Crazy. Seems like so much will not apply to a property we are appraising. Yet all the verbiage is there. Not sure how this is better. I guess time will tell.

 

[chad hampton]

And to think that when I first heard the word modernization in this profession, I assume they were going to make things simpler.

I’m confident that they will still find a way to create templates. You certainly can’t start a report from scratch with 1000 blank spaces.

But we’ll see. The fact that most of the people that came up with this haven’t performed an appraisal in 20 years, I’m not feeling too confident.

 

[jay trotta]

Nope, not for me, it's too late......not starting school all over again, Good Luck to y'all

 

[CGinMN]

But I agree - seems like this is going to add an hour or two to the report write-up...

Maybe even more for 2-4 unit income properties. Ultimately I think it’ll be better for everyone.

I wonder if software costs will be going up..

 

[chad hampton]

Maybe even more for 2-4 unit income properties. Ultimately I think it’ll be better for everyone.

I wonder if software costs will be going up..

Of course, cost always go up to the appraiser. I’m still wondering what qualifies as modernization? Is it the increase time, the burdensome Web based 100 pages of nonsense, the increase software cost, or the insanity of having two people involved in one assignment where the appraiser hasn’t even trained or the identity of the person performing half the appraisal?

Everything the GSEs touch turns to ****. Those entities must be loaded with people that are just riding the gravy train for as long as they can. Trying to make stuff as complicated as they can just to justify jobs. I’ve been in government before, I know how it works.

 

[CGinMN]

Modernization is anything that involves collecting and reporting more data points in a uniform manner to be used in AVMs.