3.6 and ACI

[Sandra Koutsopoulos]

"Some" problems. But you do know it can only take information from sources available to it. No one has said anything super positive about it. If it were suddenly talked up like it was the second coming, then Grok might change its mind.

If AI drags info from MLS into the appraisal (as Ala Mode can do) or into their "knowledge base", then there is no hope whatsoever of having accurate information on the properties. I carefully read each MLS sheet and the photo pages, and include them in my work file. While I drive the comps, I make notes of what I see, like garages, roof material, solar, ranch/2-story etc. It is rare that I find all my comps have the correct info in MLS. Missing solar, garages, patio covers, pool, spa, views is common. I had one reviewer argue with me that the comp didn't have a Mtn view; I told him I was THERE, SAW the view & it was likely in the background of the comp photo, and he could take a look at it. MLS sheets taken at face value are often inaccurate. So IMHO, the anticipated results of 3.6 will not be as accurate as the GSE's had expected.

Just yesterday, I called an agent to verify the solar panels I saw on the roof but were not mentioned in the MLS. Just put in 5 minutes ago after the listing??? (unlikely), leased, financed, F&C solar? Agent said "Oh, I didn't think it was that big a deal to say anything about the solar in the MLS." Duh. Idiot. What about the view, covered patio, spa???? WTH. MLS not as reliable as some ppl think. Depends on the human who does the input. GIGO.

 

[Tom D]

None of my direct lenders seem to know about the 3.6, or time line. I haven't had one ask me about it. Their soon to be discomfort will help kill it, or delay it to eternity, or deliver it back to hell where it belongs.

 

[Airstream]

I watched the video with the Appraiser using Total and the programmer from Total. Not all that helpful. I am a Total user. I have done some playing around with the Mobile App 3.6 portion. It isn’t that hard to use. But I use the Total Mobile now so am somewhat familiar with mobile app. Been doing that for 20 years. I would say it has potential, but it needs significant refinements. Hopefully they will have them worked out by November. I have a few friends that use ACI. They really haven’t heard anything and will probably switch to Total. I did use ACI back about 22 years ago. I got rid of it for a number of reasons. But I feel for you ACI guys. ACI is really behind. The reality is in 8 months we all have to be doing 3.6 if we do lender work. That’s not a great deal of time.

Also a fellow appraiser asked a large bank we both work for. They said as of November they are going 3.6.

 

[Airstream]

If AI drags info from MLS into the appraisal (as Ala Mode can do) or into their "knowledge base", then there is no hope whatsoever of having accurate information on the properties. I carefully read each MLS sheet and the photo pages, and include them in my work file. While I drive the comps, I make notes of what I see, like garages, roof material, solar, ranch/2-story etc. It is rare that I find all my comps have the correct info in MLS. Missing solar, garages, patio covers, pool, spa, views is common. I had one reviewer argue with me that the comp didn't have a Mtn view; I told him I was THERE, SAW the view & it was likely in the background of the comp photo, and he could take a look at it. MLS sheets taken at face value are often inaccurate. So IMHO, the anticipated results of 3.6 will not be as accurate as the GSE's had expected.

Just yesterday, I called an agent to verify the solar panels I saw on the roof but were not mentioned in the MLS. Just put in 5 minutes ago after the listing??? (unlikely), leased, financed, F&C solar? Agent said "Oh, I didn't think it was that big a deal to say anything about the solar in the MLS." Duh. Idiot. What about the view, covered patio, spa???? WTH. MLS not as reliable as some ppl think. Depends on the human who does the input. GIGO.

I recently called the MLS office in my area. I kind of pushed back a bit on the crap data on the MLS. I told her (the person in charge of the MLS data) about how really bad agents are about getting things correct. She was a bit shocked. I just don’t see any real evidence yet that agents give a ******. What will get their attention is some buyer or seller suing an agent for misrepresenting their home.

 

[Sandra Koutsopoulos]

If I were a psychic, I'd say "You can bet on many delays in real estate financing and closings" around Oct, Nov etc. But those are typically 'slow' times anyhow.

 

[Sandra Koutsopoulos]

I recently called the MLS office in my area. I kind of pushed back a bit on the crap data on the MLS. I told her (the person in charge of the MLS data) about how really bad agents are about getting things correct. She was a bit shocked. I just don’t see any real evidence yet that agents give a ******. What will get their attention is some buyer or seller suing an agent for misrepresenting their home.

Good points! And especially here in CA, it appears listing agents can't spell worth a darn and know nothing of sentence structure. and how many times do you click on a listing to potentially use as a comp and see the Kitchen or Pool instead of the house? They probably think that's the house's best feature, but I want to see the HOUSE! It's also helpful when shooting comps in rural areas to identify at least the COLOR of the house you're looking for.

If Buyers/Sellers don't realize that the info/lack of info slowed down finding a buyer, or misrepresented including central air in the description in a winter sale in snow-country where the compressor was likely covered by a drift, and only found out after the spring thaw that that lovely central air they expected to be enjoying was never there... yup, they might sue. Probably wouldn't realize the misrepresentations slowed the sale or too much trouble to confront list/sell agents/broker and sue for redress. And so sloppy is typical.

 

[NJ Valuator]

does ACI 3.6 permit the use of Apex sketching?

 

[Sadie]

does ACI 3.6 permit the use of Apex sketching?

They say when they are up and running yes, but not now