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Old 08-04-2007, 01:06 PM
xm72mhd xm72mhd is offline
 
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Default For reference plese see the neighborhood analysis section of the URAR

% built up

Fannie says "built up means sites available and improved.

I think:
In a mature neighborhood where some sites are vacant and some have "scrapers" and some are habitable, those sites that are improved with scrapers and available for redevelopment should rightfully be included in the not built up %.

Fannie wants to know HI/Lo/Mode for prices of SFR. Eliminate extremes.

I think:

The range should only include those transations that are intended for relatively quick single family occupancy. Those transaction that are intended as hold for development or extensive rehab are not reflective of the SFR market.
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Old 08-04-2007, 03:10 PM
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Fannie doesn't care about reality nor common sense........"She" wants THE NUMBER $$$$. The Hi - Lo range is there as a $$ directional sign to Appraisers.
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Old 08-05-2007, 07:29 PM
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Terrel L. Shields Terrel L. Shields is online now
 
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Fannie wants to know HI/Lo/Mode for prices of SFR. Eliminate extremes.

Recent review...a CR reviewer but very high number. Diss'd the appraiser who said area sales were mainly $60K to $250 in neighborhood. Reviewer said $750,000 was high....an extreme sale, one of 2 over $600,000 in 2 years- and was well outside the city limits (the appraisers defined market). Nothing between $600k and 350k, not even a poultry farm, and within the city limits nothing exceeded $250...exactly what the original appraiser said.
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Old 08-06-2007, 10:48 AM
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So....
In a rural area where the landowners are farmers holding property family owned for generations, there may not be a house in sight but it should be 100% built up because there is no land "available"??
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Old 08-06-2007, 11:23 AM
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Quote:
it should be 100% built up because there is no land "available"??
You are pointing out one flaw in that 'built up' methodology. Rural areas don't play well with others. I think you could defend determining the vacant tracts in a section as "built up" but like you point out, that might mean 100% build up or even 30% or 0%. Its pointless in a rural setting & its also predominately ignored by UWs as best I can tell.
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