[Scott Fleming]

In the area below the grid, where you describe prior sales or transfers of the subject and comps, what do you put in the box where the ask for the "Effective Date of Data Source(s)?

[DB]

"Appraisal Date" or if using M&S, the date of the most recent update...

[Dave Smith]

I insert the date I got the data.

[Ultraviolet]

I'm lucky, the recorder's website shows the last date the affidavits were updated. Today's published update was 6/12/06 which is what I put in the report I just finished.

I'd be careful about making sure the dates you report are accurate. If the last date the source was updated is 3/01/06 (running way behind) and you put today's date as the "effective date" (without a reasonable explanation) you're basically taking responsibility for any activity that may have occurred between the last real effective date of the source and the effective appraisal date.

I know many areas aren't fortunate enough to have frequently updated and current sources of confirmation so advice will vary! :-)

[Ms. Janet]

imo,
the intent of that question is to tell the reader the date the source you utilized was updated when you did your research regarding the sales history. it doesnt mean a whole lot if the effective date of your appraisal and the effective date of your data source are months apart................

[Renee Healion]

I see this in the rare event I get to "re-use" a comp. The old date shows and I do not change it for the reason that Rae mentioned.

[DB]

The way I read it... and see it ... is the best available data, on the date of the appraisal ... and that becomes the effective date .... but I do see Rae's point ... it is well received ..

[Lysander in Charlotte]

Rather than insert a date, I enter the word "current". I've yet to have a stipulation.

[Chris Colston]

I have this comment on my appraisals:

Effective date of the data source is the most recent date the public records were updated on the County Tax Assessor's web site. The subject was not listed for sale or under a purchase agreement in the past 3 years. No direct information on the comparables previous terms of sale could be found as those sales are over 1 year old and only price and date are available. The comparable sales have not been sold within the 12 months prior to the reported sales above.

Classes I took when the forms came out stated the EFFECTIVE DATE of the DATA SOURCE was whenever the records you used to gather the data from were last updated, be it yesterday or 3 months ago.

[Farm Gal]

CORRECT ANSWER: the INTENT of that box as per Fannie is to place the date which the DATA SOURCE was updated, and _not_ the date you acquired the information.

Doug:
"Practically" in many markets you are correct in that it is IMPOSSIBLE to determine the CORRECT answer. Many/most data sources are not maintained in such a manner as to provide the appraiser with the requested information: the last date that the data source changed and they do mean: the date that the datasource for THAT specific comparable was modified. However using your response requires clarification and countermanding the Fannie Form!!!

So just do it! ** next to date...
in comments:
**note: datasource does not provide appraiser with date of updating, date used is date appraiser checked datasource.

SOW.

in this case Fannie asked for a real pig