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  #1  
Old 03-01-2009, 06:57 AM
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GTroescher GTroescher is offline
 
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Default Omitting the top of Page 2 (URAR)

When the new 1004MC takes place are we expected to fill in top of page 2 of URAR as well or just put refer to 1004MC. I know it doesn't take much to fill out. I am just trying to see food for thought.

Thanx
GT
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  #2  
Old 03-01-2009, 07:33 AM
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expected to fill in top of page 2 of URAR as well

yes. no different than a pud addendum, sf rental schedule, or other addendum forms. keep in mind that COMPARABLE applies to both pg 2 top & the mc addendum.
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Last edited by Mike Kennedy : 03-01-2009 at 07:43 AM.
  #3  
Old 03-01-2009, 08:40 PM
caghag1 caghag1 is offline
 
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I have been using the form for some time. I fill in the boxes on pg 2, but refer the comment section to the 1004mc form, where I explain the parmeters used and conclusions. No sense in going through it twice.
  #4  
Old 03-01-2009, 08:49 PM
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Woe unto he who hath more comparable sales or listings in one spot than in the other.

.
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  #5  
Old 03-01-2009, 08:50 PM
caghag1 caghag1 is offline
 
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whatever that means.....
  #6  
Old 03-01-2009, 10:56 PM
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Default

Quote:
Originally Posted by caghag1 View Post
whatever that means.....
It means woe to those whose reports are not showing consistent data between the top of page 2 and the new MC form.

Just a friendly warning to form cloners is my guess.
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  #7  
Old 03-03-2009, 10:21 PM
supertens supertens is offline
 
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Default

I had that very problem on the first MC I completed. I had a tough time getting the MLS to do what I wanted it to do. I am in the process of getting the software designed to answer the questions with three searches rather than 20. Wish me luck and if I can get anything done I will pass it on. By the way I explained that the 1004 MC had some different numbers due to search issues. The top of page 2 was the # of actual comparable properties listed and sold in the past year and the MC was an overview of the market within a specific price range. Some of the comps were not comparable. I called and explained my position and they took it. I think most appraisers will start tightening up the boundaries so the search can be more defined.
  #8  
Old 03-03-2009, 10:53 PM
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You can reinvent the wheel if you want, but I've already put together a worksheet that will do everything off a single search. Five minutes or less, once you figure out how to use it.


http://appraisersforum.com/showpost....4&postcount=34
  #9  
Old 03-03-2009, 10:57 PM
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BTW,

The 1004mc is about the market overview. It asks about properties a buyer might consider comparable, which to be sure will include a much wider geographical area and a much wider variety of properties than what an appraiser would consider to be comparable in a Sales Comparison analysis.

IMO, if a lot of appraisers try to make these two datasets appear to match they're just setting themselves for another useless appraisal myth that they and the appraisers who come after them will have to battle for the next 20 years.

A form monkey lets the form drive their process. An appraiser uses the form to communicate their process. There's a big difference between the two.
  #10  
Old 03-03-2009, 11:11 PM
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When I fill out the 'listing line' of the top of page 2, I do a MLS search based on
price range, neighborhood, square footage, and maybe age/condition of the
subject (ie, competitive properties). I use those same parameters to extract
statistics to meet the requirements of the 1004MC. So they are consistent as
possible.

The sales line is based on the sales I've actually selected, and it usually stops at
9 sales, since that about all my appraisal software can hold, and its just silly to
analyze more than 9 sales.
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