- Joined
- Aug 31, 2002
Dear New Friends,
Thanks to those of you who so remarkably fell into discussing, in the purest sense, my concerns over a rent survey ( see Urgent Forum). I decided to go ahead and do the rent survey through my mentor and provide it as an appraisal of a partial right.
I have another question-- less urgent-- more confusing to me, about which I'd love to read your opinions:
In Southern California (San Diego), increases over time are easy to determine and document using pairwise comparisons. On the low end, the rate is 1.4% per month and in some areas it can be documented to be over 2.7% per month increase. It's incredible to see homes doubling in value in a short period of time.
My frustration is that this very real and useful adjustment is not permitted by my mentor for the reason that "lenders do not accept time adjustments."
Please let me know if you find lenders to be unwilling to allow time adjustments. Perhaps if I understand the nuance of time adjustments and the lender's points, I could get over being annoyed at doing the pairwise analyses and not getting to use the data. I know that this has been discussed briefly, but it seems to me that if it can be documented by strong pairwise data, it should be acceptable.
What are your thoughts?
Thanks to those of you who so remarkably fell into discussing, in the purest sense, my concerns over a rent survey ( see Urgent Forum). I decided to go ahead and do the rent survey through my mentor and provide it as an appraisal of a partial right.
I have another question-- less urgent-- more confusing to me, about which I'd love to read your opinions:
In Southern California (San Diego), increases over time are easy to determine and document using pairwise comparisons. On the low end, the rate is 1.4% per month and in some areas it can be documented to be over 2.7% per month increase. It's incredible to see homes doubling in value in a short period of time.
My frustration is that this very real and useful adjustment is not permitted by my mentor for the reason that "lenders do not accept time adjustments."
Please let me know if you find lenders to be unwilling to allow time adjustments. Perhaps if I understand the nuance of time adjustments and the lender's points, I could get over being annoyed at doing the pairwise analyses and not getting to use the data. I know that this has been discussed briefly, but it seems to me that if it can be documented by strong pairwise data, it should be acceptable.
What are your thoughts?