New Uad Forms

[norapp]

I am curious what your biggest problems were with the existing forms and what change you would make if you could with the new UAD forms. I would like to see a change in the condition class category. Most homes I appraise fall into the C3 or C4 category. I would like to see a +/- added to upgrade or downgrade a class. It would make it a little easier to show and explain adjustments within a class. What would you change?

 

[The Bob]

I would like to see "Marketing Time" corrected to "Exposure Time".

 

[Addie]

Auto Expanding text fields for H&b use, legal, summary of SCA, reconciliation, comments.

Range of value or at least range of value and point.

Only 3 quality catagories and condition. C1,C3,C6. Since an appraisal is based on relativity, the categories don’t matter to us but only the tracking/FNMA. So everything be a C3 and you adjust based on relativity.

Cost tossed cause no one uses it. If Appraisers don’t use it. They have declared it worthless. (Or lazy)

Income tossed.

Concessions line item and financing tossed. Irrelevant. Appraisers don’t understand what actual concessions are. Only line needs adjusted is Non-arms, REO. Etc.

1 yr history of comps tossed. Irrelevant if you do your job correctly in the comment section.

 

[ucbruin]

Auto Expanding text fields for H&b use, legal, summary of SCA, reconciliation, comments.

Range of value or at least range of value and point.

Only 3 quality catagories and condition. C1,C3,C6. Since an appraisal is based on relativity, the categories don’t matter to us but only the tracking/FNMA. So everything be a C3 and you adjust based on relativity.

Cost tossed cause no one uses it. If Appraisers don’t use it. They have declared it worthless. (Or lazy)

Income tossed.

Concessions line item and financing tossed. Irrelevant. Appraisers don’t understand what actual concessions are. Only line needs adjusted is Non-arms, REO. Etc.

1 yr history of comps tossed. Irrelevant if you do your job correctly in the comment section.

Some good points....

 

[bnmappraisal]

Most homes I appraise fall into the C3 or C4 category. I would like to see a +/- added to upgrade or downgrade a class.

I definitely agree and like this idea!

A large majority of my work is within these 2 categories as well. Currently, I use a separate line adjustment to adjust for differences instead of making separate "condition" adjustments for the "same condition"

To me, if all the comps are "C3" but some have been more updated, etc ... I just don't like seeing/making adjustments when all logic tells you "it's the same" (i.e. C3 vs C3 vs C3) If it's the same, why are you adjusting (I know you can just explain it, just as I do with my separate line adjustment category, but I wouldn't mind seeing a subcategory for these two C ratings as they seem to be the most prevalent - I would guess)

 

[bnmappraisal]

Range of value or at least range of value and point.

I don't mind this comment because I almost always supply this to my client in private appraisals. (i.e. $285k - $300k with point value of $xxxK)
I could see it get pretty complicated with the alphabet soup of federal guidelines out there though, so I doubt it would ever be instated

1 yr history of comps tossed. Irrelevant if you do your job correctly in the comment section.

I have to disagree with this. Although it does drive me nuts at times and often adds several minutes to my typing time and research time, I do think the 12 month history is still relevant and necessary. I deal with a decent amount of flips in my market (hence the additional typing/research time). Although it can be frustrating, I think it is relevant and helpful to the User (i.e. underwriters?) to understand what's going on in the market.

 

[Joe Flacco]

I think not only 12 months of prior history should be analyze but the entire history should be analyzed. So much information can be gained from listing history and prior listings of properties.

Entire listing history does not need to be reported but should be analyzed.

 

[Renee Healion]

I like to look at the prior sales of the subject and comps if they were contemporaneous sales at another time. I like it for my own info. It tells me were they comps before; if there is a difference, what caused it (updating you would think but could be external influence change and what's up with that). Yes, I like to do this but I don't like to write about it because I have to answer why I did not bracket the site size when there were only three comps scoured from the earth which were good comps but did not happen to cooperate in that regard, and site size does not matter here in most cases. So I secretly appraise...but keep it to myself lol. True confessions. Not dropping it in the suggestion box.

 

[Mr Rex]

I am curious what your biggest problems were with the existing forms and what change you would make if you could with the new UAD forms. I would like to see a change in the condition class category. Most homes I appraise fall into the C3 or C4 category. I would like to see a +/- added to upgrade or downgrade a class. It would make it a little easier to show and explain adjustments within a class. What would you change?

If you make an adjustment there is a +/- right beside the rating along with a corresponding $ amount.

 

[TRESinc]

Only 3 quality catagories and condition. C1,C3,C6. Since an appraisal is based on relativity, the categories don’t matter to us but only the tracking/FNMA. So everything be a C3 and you adjust based on relativity.

Cost tossed cause no one uses it. If Appraisers don’t use it. They have declared it worthless. (Or lazy)

Income tossed.

the condition ratings are not relative to any other properties, they are absolute to the property. the other two are straight from the skippy handbook.