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Old 02-18-2009, 07:02 PM
Going Broke Going Broke is offline
 
Join Date: Apr 2005
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 22
Default Has there been any threads on new MC form in Non MLS markets?

I would be interested in reading them or hearing your thoughts on the issue. Thanks
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Old 02-18-2009, 09:54 PM
Howard Klahr's Avatar
Howard Klahr Howard Klahr is offline
 
Join Date: Oct 2004
Location: South Florida
State: Florida
Professional Status: Certified General Appraiser
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You question is addressed in the instruction for the 1004MC form. The following link is for the FAQ document. The information quoted below is on page 5.

Fannie Mae - Frequently Asked Questions

Quote:
Fannie Mae recognizes that all of the requested data elements for analysis are not equally available in all markets. In some markets it may not be possible to retrieve the total number of comparable active listings from earlier periods. If this is the case, the appraiser must explain the attempt to obtain such information.
Quote:
Regardless of whether all requested information is available, the appraiser must provide support for his or her conclusions regarding market trends and conditions.
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