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  #1  
Old 11-10-2008, 06:24 AM
Mike Seward Mike Seward is offline
 
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Default Fannie Mae new addendum?

Has anyone heard anything about Fannie soon issuing a new addendum to the URAR discussing market conditions?
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Old 11-10-2008, 07:51 AM
shamgster shamgster is offline
 
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Yes. I attended a continuing ed USPAP class and the instructor handed out a copy of the draft addendum that Fannie will be requiring (no date yet as to when). It is called Market Conditions Addendum and the instructor stated that it is very similar to what Rels requires now. The sample form consists of absorption rates of inventory, median sales, listings, DOM, and list-to-sale ratio as well as analysis of seller concessions and foreclosures.
  #3  
Old 11-10-2008, 07:59 AM
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hglenbetts hglenbetts is offline
 
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Originally Posted by shamgster View Post
Yes. I attended a continuing ed USPAP class and the instructor handed out a copy of the draft addendum that Fannie will be requiring (no date yet as to when). It is called Market Conditions Addendum and the instructor stated that it is very similar to what Rels requires now. The sample form consists of absorption rates of inventory, median sales, listings, DOM, and list-to-sale ratio as well as analysis of seller concessions and foreclosures.
All of this has been in my reports for some time. I'd bet, in most of your's too.

Skippies are going to have to find out what an absorption rate is.
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  #4  
Old 11-10-2008, 08:00 AM
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Riick Riick is offline
 
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Post Removed... ^^^^^ he's right, it's already in there
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Old 11-10-2008, 08:16 AM
shamgster shamgster is offline
 
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Yes, it is in our reports now. Guess Fannie wants it reiterated on its own form.
  #6  
Old 11-10-2008, 08:39 AM
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Don Clark Don Clark is offline
 
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Yes, it is in our reports now. Guess Fannie wants it reiterated on its own form.
New form = lower appraisal fee to AMC's. Skippy is salivating.
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Old 11-10-2008, 10:06 AM
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It's because they are too dumb to find it in the report. They want it hand fed to them on a form where they can just go to it and read it.
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Old 11-10-2008, 10:20 AM
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It's because they are too dumb to find it in the report. They want it hand fed to them on a form where they can just go to it and read it.

Im sure its because many dont give the data within their report. Many are just form fillers and have never even thought about absorption, supply, demand, or how it applies to value.
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  #9  
Old 11-10-2008, 11:35 AM
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Im sure its because many dont give the data within their report. Many are just form fillers and have never even thought about absorption, supply, demand, or how it applies to value.

You Think?...............
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  #10  
Old 11-10-2008, 01:21 PM
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Smokey Bear Smokey Bear is offline
 
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Originally Posted by PropertyEconomics View Post
Im sure its because many dont give the data within their report. Many are just form fillers and have never even thought about absorption, supply, demand, or how it applies to value.
Then they should be booted off the list, instead of making more work for the people already doing the work. There are too many appraisers out there, the one's not doing the job should be weeded out.
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