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Bad advice from Fannie--"Multiple Parcels" from Dec. 2019 'Appraiser Update'

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Render unto Fannie the things that are Fannie's........We still have to do what we have to do.
 
J Grant said:
Doesn't matter if it is a refinance, since the SCA is a hypothetical sale. We can not say the market is not combining the two just because it is a refinance ! the SCA is a presumed/hypothetical sale, even when there is in actuality no "sale " in a refinance or divorce appraisal.

Getting past that, the valuaiotn and HBU issues - assume res zoning, and a nice house contributing to value.

HBU of the whole property- existing residential, the house contributes to its site and also contributes to the whole. There is no reason to demolish the house to make its site vacant.

Explain that the house conveys with the adjacent vacant lot. The vacant lot has a potential HBU as a salable and build able lot. However, on the of effective date, the lot was not listed for sale and had no listing activity the prior year. The owner is holding it for future appreciation as an investment, which is noted that a pool of typically motivated buyers would do, thus the lot value at present effective date is value in use the use is hold until the future time when owner might want to sell the lot or build on it. The adjacent lot and house ares conveyed under a single lien and mortgage encumbrance.

The total value - ?? That would need to be developed in the appraisal. It would not be easy...but doable.
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You continue to skirt around the issue.

Cut with the malarkey of "potential HBU".

Who cares--other than you and perhaps the loan officer that your seem to have more concern with than proper appraisal methodology--that the "adjacent lot and house are conveyed under a single line and mortgage encumbrance."

What's this nonsense "the lot was not listed for sale and had no listing activity"?

Why don't you just admit that if you do the proper H&BU analysis and correctly report that the answer (given the incorrect way that you would value the two as though they are one) to the question is the "H&BU as improved the current use?" is NO and having the result that the appraisal and the loan DOA.

You're all over the place running away from correctly addressing the issue. Any competent appraiser who read the scenario that was presented to you [ post 231 ]and your response would, well, would have to be amazed. I shouldn't think this, but, I'm embarrassed for you.

And--as you offered in an earlier post--you want to 'school' 3 former members of the ASB on the "error" in their thinking on this topic? If only your hubris was matched by your competency on this issue, you'd be just fine.
 
leelansford said:
You continue to skirt around the issue.

Cut with the malarkey of "potential HBU".

Who cares--other than you and perhaps the loan officer that your seem to have more concern with than proper appraisal methodology--that the "adjacent lot and house are conveyed under a single line and mortgage encumbrance."

What's this nonsense "the lot was not listed for sale and had no listing activity"?

Why don't you just admit that if you do the proper H&BU analysis and correctly report that the answer (given the incorrect way that you would value the two as though they are one) to the question is the "H&BU as improved the current use?" is NO and having the result that the appraisal and the loan DOA.

You're all over the place running away from correctly addressing the issue. Any competent appraiser who read the scenario that was presented to you and your response would, well, would have to be amazed. I shouldn't think this, but, I'm embarrassed for you.

And--as you offered in an earlier post--you want to 'school' 3 former members of the ASB on the "error" in their thinking on this topic? If only your hubris was matched by your competency on this issue, you'd be just fine.
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I see you've deserted your other post. Please come back. I promise to play easier. I didn't realize you were so sensative.
 
leelansford said:
I see that you have much to offer :).
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I promise to sincerely try to help you in your appraisal education. Just come back to YOUR thread. There is no shame in admitting you have much to learn, padawan.
 
alebrewer said:
I promise to sincerely try to help you in your appraisal education. Just come back to YOUR thread. There is no shame in admitting you have much to learn, padawan.
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Nonsense.

You think yourself too clever.
 
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