3.6 and ACI

[Surf Cat]

Half of my work is cleaning up garbage data.

As it is now, I have to read the MLS sheet, then scroll through 40 MLS photos to see what the house really is. And at the same time keeping in mind that these photos are the best this house has ever looked. Seems like a lot of human element that is in play.

What the suits and ties who developed the 3.6 seem to not comprehend is that human appraisers provide the necessary oversight (inspection) and interpretation that algorithms cannot replicate and or simulate. They want the system to be machine-readable data over human judgment required for valuations.

Real estate is dynamic, markets do not stay the same..... and neither do the dwellings we inspect and visit curbside.

But hey, maybe they just need "good enough".

 

[cashcatz]

They want the system to be machine-readable data over human judgment required for valuations.

You can have machine readable data points for the quantitative bits.

 

[George Hatch]

What the suits and ties who developed the 3.6 seem to not comprehend is that human appraisers provide the necessary oversight (inspection) and interpretation that algorithms cannot replicate and or simulate. They want the system to be machine-readable data over human judgment required for valuations.

Real estate is dynamic, markets do not stay the same..... and neither do the dwellings we inspect and visit curbside.

But hey, maybe they just need "good enough".

I doubt very much that "they don't understand" that aspect of it.

As I understand it the UAD isn't about improving or expediting the analysis or about what's good for the appraiser. On the appraisers end it appears to be mostly about increasing the level of detail in the SR2 "report". And feeding the data to other uses

 

[Sadie]

I tried the UAD 3.6 for the first time tonight by creating a sample (I have alamode ) and was surprised to find it easy to work with ! Relieved in fact - will try it again over the weekend and next week. I only did a few sections to see what it was like.

Did you get to the grid? For me it was just tedious, then the grid not a grid happened, but I have ACI.

 

[J Grant]

Did you get to the grid? For me it was just tedious, then the grid not a grid happened, but I have ACI.

I only played with it for 15 minutes - to at least see what it was like - I will update when spend more time with it.

 

[Surf Cat]

I doubt very much that "they don't understand" that aspect of it.

As I understand it the UAD isn't about improving or expediting the analysis or about what's good for the appraiser.

Oh, it's quite apparent they don't give a Rats A*s about appraisers. I'm actually quite surprised that they're taking this long to pull the plug.

What I was alluding to (that Chad pointed out) was the powers that be deem the human element in the practice of appraising insignificant....obviously.

Another item is as long as I've been in appraising, it's always been "I need it yesterday" to which I was always flummoxed about. Especially, in regards to purchases as they were typically in a 30-day escrow. AMC's were the worst in this regard with their demand of 24-hour turn time.

As for the 3.6 again, one would think that the powers that be would have "trimmed the fat" and developed a report product that was streamlined. A product which could be developed quickly..... not be an arduous, tortuous task.

That would be an interesting thread actually. What would you trim and take out from the 1004 appraisal? What should be included that's not there?

 

[Alsie35]

After 40 years in the biz, I retired last week. I have no interest in relearning how to complete an appraisal. Good luck to y'all!

DING! DING! DING! We have a WINNER!!!

I've been working for 41 years, "in the biz" for 25 - and by the end of the year I shall be joining you!

 

[Dublin ohio]

You can have machine readable data points for the quantitative bits.

Only if that "data" is accurate. MLS data in my area is hit or miss at the best. GLA, room count etc. depends on how the individual agent enters the data. Our MLS doesn't even show a total room count and always includes finished basement bedrooms and baths it the total count. The way county records displays data even differs between counties. Some include finished basement in the living area. Some don't break out the basement area and it goes on and on. Like others have said, I would spend more time scrubbing data that pretty much makes it a wash on any time saved using the data import tools

 

[Sadie]

I only played with it for 15 minutes - to at least see what it was like - I will update when spend more time with it.

I went through the whole think with the beta ACI. It was ok until the SCA, then it all fell apart.

 

[J Grant]

I went through the whole think with the beta ACI. It was ok until the SCA, then it all fell apart.

might happen here too - will update when I get that far -