A new one on me, Marshall and Swift on Comps.

[EDWARD BERRY]

AS i recall, farm home required this (ms the comps)at one time.

 

[Austin]

I think what these people are doing is using you as data gathers. They probably have some type regressionn or AVM program and want you to feed data to it. The way regression works is that if for example you have an equation with up to 16 unknowns, if you can get enought equations with at least one of the unknowns bracketed, then the program can solve for all 16 unknowns. The more unknowns the more sales or equations it takes.
Once they establish the cost schedule for your market then they can calculate a depreciation schedule for their AVM. Then once they get all of the parameters establish they won't need you guys anymore. It is just a matter of time anyway for FNMA, FHA, VA appraisers. It is a circular reference. These agencies created so much crap required for an appraisal that it drove the price of appraisals through the roof. Then because of the high cost and time it takes to assemble all of the crap to satisify their regulations they search for a more efficient and cost effective appraisal system.