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  #1  
Old 03-15-2009, 03:14 AM
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AnonApprsr AnonApprsr is offline
 
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Default Creative Writing and the 1004MC

I'm looking for a little brainstorming regarding the word "comparable" and the 1004MC. The comparable properties I'm gong to draw data from for the "gridding" of the form will of course contain the sales I eventually choose as the most comparable sales, but I did look at many more homes as comparable. Much like the typical buyer looks for a home. They may know they want a home in a certain location, or maybe a certain type of home such as a cape or a 8-4-2.5 colonial. So maybe they're are "20" comparable sales that I would consider when analyzing the market for value trends. That doesn't mean I would consider them all specifically for the value for the Subject property. I of course look at them, but may eliminate them for specific reasons, as an appraiser does.

I'd like to make the reader of the appraisal understand that process, and as a result a destinction between "the comparable sales" and "comparable sales." Such a foolish thing to bind an appraiser with a word on a form, but it is the way of Fannie and Freddie.
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Old 03-15-2009, 07:56 AM
leelansford leelansford is offline
 
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A few brief sentences similar to what you presented here should suffice as an explanation. Seriously.
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Old 03-15-2009, 08:56 AM
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"homes that would compete with the subject". (see the form instructs).
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Old 03-15-2009, 09:18 AM
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George Hatch George Hatch is offline
 
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I'd go with something like this:

Quote:
Please note that in addition to the sales that "locationally, physically and functionally are the most similar to the subject property" such as are included in the Sales Comparison Approach of this appraisal, this market conditions analysis also includes consideration of "those sales that buyers would commonly comparable to the subject property" as per the instructions above. The sales data presented as direct comparables in this appraisal are generally taken from a much smaller geographic area and represent a small subset of the larger dataset used for this market trends analysis.
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Old 03-15-2009, 08:10 PM
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AnonApprsr AnonApprsr is offline
 
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Quote:
Originally Posted by George Hatch View Post
I'd go with something like this...
Thanks George, that's the way I'm going with this. Your help is so appreciated.

Quote:
Originally Posted by leelansford View Post
A few brief sentences similar to what you presented here should suffice as an explanation. Seriously.
Meh, can you select what brief sentences? I'd appreciate you, as my peer, throwing in your say. Thanks.


I'd love for a few more people to help out on this. I feel that a lot of you will be doing this form like this, because it's how I have (and probably you as well) been doing market trends anyway.
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Old 03-15-2009, 08:55 PM
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Thanks George

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