Considering filing complaint for lack of market conditions adjustment on stale comps

[Sadie]

And, if you actually read that and do it correctly, it will match.

Maybe if you Twist your data, ok

Are you saying the overall trend on the right is derived from an analysis of the data outputs on the left?

He is implying that it doesn't have to. I was taught that it does.

The hammer to drill the nail in is found in the articles I have posted from the **Appraisal Journal**. Who are you going to believe, the AJ or the GSEs?

Since it's the GSE form, I would follow what the GSE says. The GSE is the entity creating and implementing the form and its associated requirements. The Appraisal Journal is a trade publication and has no official ability to implement, interpret or enforce policy.

 

[George Hatch]

I don't know why this is even a discussion. The GSE's expectation is for the neighborhood trends to reflect the subject's market segment, not that of the actual neighborhood itself. That expectation precedes the 1004MC. For that matter, the conflation of market segment with neighborhood in these forms extends back to before any of us even start appraising. The problem starts with the current design of the form and it will end if/when the forms are revised to make that distinction between the geographic neighborhood vs the subject's market segment by having separate analyses of each.

In the meantime the instructions for this form spell the current expectations out in detail.

 

[Mejappz]

Since it's the GSE form, I would follow what the GSE says. The GSE is the entity creating and implementing the form and its associated requirements. The Appraisal Journal is a trade publication and has no official ability to implement, interpret or enforce policy.

So you are saying that a recognized authority on the valuation of residential, commercial, and industrial property should be disregarded. And we should follow what a bunch of DC politicians and bankers have in store for us. In that, case I will burn all of my appraisal textbooks, courses, designations, etc.

 

[Sadie]

I think we can all agree the 1004MC is a poorly written form with less than clear guidance. It is not in use any more because it was not meaningful and was confusing. None of us have severe reading comprehension problems, yet there is a range of views on how to complete the form. In the now deleted video Fannie provided, it was clear the designers of the form had not been out in the real world appraising.

 

[Sadie]

So you are saying that a recognized authority on the valuation of residential, commercial, and industrial property should be disregarded. And we should follow what a bunch of DC politicians and bankers have in store for us. In that, case I will burn all of my appraisal textbooks, courses, designations, etc.

In this case, they are analyzing the GSE form and its associated requirements. The proper source is the actual GSE and not the unofficial interpreter of the form. This is just a form and the discussion is how to fill out the form and what to do with the information on that form. And I think I will follow the guidance of whoever created that form. They can change their minds and if they do I will then follow the new guidance.

 

[Mejappz]

Everyone tap your feet together and say with me, ‘the appraiser determines the scope of work for secondary market appraisals”,the appraiser determines the scope of work for secondary market appraisals”

 

[George Hatch]

The form is just the form. The instructions for the form are just the form. When appraisers allow the form to drive their development that's on them.

 

[Sadie]

Boy didn't we got off track from the OP

 

[djd09]

that form is junk. not even worth the paper it is written on. median list price

i wonder if that is the same form the gses use when they waive the appraisal

 

[Mejappz]

The form is just the form. The instructions for the form are just the form. When appraisers allow the form to drive their development that's on them.

But the form also is to blame for not flowing logically and consistently. I mean, take a look at the highest and best use. It is buried somewhere in the site section. No, the forms and the so-called “guidelines,” i.e., mandates, have ruined this profession.