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Cdom Or Dom

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Ariba

Senior Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Colorado
What do you put in the Data Source box. How do you calculate DOM? Is it active listing date to contract date or closed sales date?
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I use active listing to contract date
 
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Deleted member 134708

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I use cumulative which counts when a realtor takes off for say 15 days then re-lists so the property isn't stale.

So I do listing to pending date, our realtors use something called confidentiality and negotiating tactics and do not give out contract dates as they follow laws around here.
 

gregb

Elite Member
Joined
Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
I use cumulative which counts when a realtor takes off for say 15 days then re-lists so the property isn't stale.

So I do listing to pending date, our realtors use something called confidentiality and negotiating tactics and do not give out contract dates as they follow laws around here.

So if you make a time or market conditions adjustment, you don't use contract date to closing date?
 

residentialguy

Elite Member
Joined
Mar 24, 2009
Professional Status
Certified Residential Appraiser
State
Minnesota
Does it ask for DOM or CDOM on the form instructions. That should be the answer to your question, in regards to what you should put on the form.
upload_2017-11-15_15-42-15.png




That said, the form is not the whole story. Therefore, I always show much more in my comments.

upload_2017-11-15_15-36-29.png
 
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gregb

Elite Member
Joined
Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
The UAD only defines DOM, with no mention of CDOM.
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Does it ask for DOM or CDOM on the form instructions. That should be the answer to your question, in regards to what you should put on the form.
View attachment 33636




That said, the form is not the whole story. Therefore, I always show much more in my comments.

View attachment 33635

More curious than anything on the time lines; IF the Original Listing was 3 years ago, is it a factor ?? If we are using a 12 month setback for Market Relevance, is it necessary to go further back ?
JMO, have thought of doing that, but then it may come back as a "Take Out Stip" and just waste more time; Have you received any, please take that out requests ?
 

residentialguy

Elite Member
Joined
Mar 24, 2009
Professional Status
Certified Residential Appraiser
State
Minnesota
@jay trotta
It helps show trends, and other things. They can't stip for that...there is no rule saying that you can't be thorough. Some listings end up chasing the market and end up hurting themselves, often the cause for selling below market.
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
I use DOM as shown in MLS, unless I use CDOM as shown in MLS.
So, it depends, and I decide case by case, because sometimes the data is, umm fudged.
Yes, that's the right word beginning with F. :whistle:

Then there is status "Active Under Contract" formerly known as Backup. DOM continues to accrue under this status which I note in the report if applicable.
This is a stupid status, imho. :mad2:
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
More curious than anything on the time lines
These do vary from MLS to MLS/Board to Board. For Example Ft lauderdale/Palm Beach the timeline for CDOM is gaps up to 9 months while Miami is gaps up to 4 months. Still discussing comprise to a point somewhere in the middle so the info for the overall data can be based on the same "rules"

Is it active listing date to contract date or closed sales date?
It depends on what you are trying to define. In terms of DOM/CDOM the time line is list date thru pending date. When compiling data for the 1004MC, Fannie Mae considers pending sales to fall into the active category.

This just one example, of many, where data definitions are different/not uniform and part of why AVMs are not able to adequately process accurate results. Garbage In results in Garbage out.
 
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