• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Cdom Or Dom

Status
Not open for further replies.
Actually, to do what is correct and USPAP compliant is to freely turn down the assignment. Nothing illogical about this. They want the DOM which is UAD requirements. UAD compliance is something that you agreed upon when you accepted the assignment. Your comments are part of the appraisal. Look at my example above...it shows the complete history of the comps. That is a completely logical way of doing it and is UAD & USPAP compliant. Yours is neither. As a forum friend, I suggest you change your way on this...it's not even a mole hill that you're making a mountain of.

I will heed your advice actually.

This way it will feed the UAD machine even more garbage. Real DOM is 240, "we" all feed it 60 DOM.

You changed my mind my friend. I'm on board starting tomorrow.

Now I can use listing that have real 240 DOM cause they took off for 10 days a few times and just show only has 60 DOM. Not like anyone going to read my fine print of "has effective 240 DOM and certainly not the UAD machine.
 
I will heed your advice actually.

This way it will feed the UAD machine even more garbage. Real DOM is 240, "we" all feed it 60 DOM.

You changed my mind my friend. I'm on board starting tomorrow.
Glad to hear. If appraisers want to starve the monster, stop making small quantitative adjustments...factor them in with qualitative adjustments. The grid is not the SCA...it's just a tool to help show precise quantitative adjustments that you can show definitive market support. Small adjustments...pass. You can't support em. This will protect you should your report end up in court.

Other ways..don't put active listings on the SCA - talk about illogical and down right misleading! I put a list of the active listings in my comments. Here's an example: (this was a big buck so I included a short MLS page - simple cut & paste)
upload_2017-11-15_22-18-2.png
upload_2017-11-15_22-19-2.png
 
Last edited:
upload_2017-11-15_15-42-15-png.33636



Not trying to distort anything, but according to the "Format" noted, they are only seeking a 12 month History; as in your example over time, the Pricing is in Flex with the market (different rates & other items come to mind) and this is probably my pet peeve. (I do a similar historical search, but do not add it in for the reasons described). Not trying to get you to change your ways, our markets are different and if that works in your area, so be it.
IE: a lot of Clients want specific "time Lines" of 180 days and when you exceed that, they want a blurb as to why you had to exceed Their guidelines, Not anyone else's.
For me, I will peek into the history, but at this time do not feel the need to jump into the "way back" machine and if they desire, they can peek at the history on their end (less work for me), as they have as much access as we do to MLS data (their due diligence).
Just a few thoughts
 
upload_2017-11-15_15-42-15-png.33636


Smartest answer yet. We are to note a 12 month history of the comparables and a 3 year history for the subject. However, if a listing has continually been on the market, listed by same or several firms in succession, i will sometimes note that and try to give the client a reason why. Most of the time however, I will simply use a different comparable. In my market the agents are required to show DOM in their listing of a closed sale. I do check to see if that is correct. Most of the time it is.
Not trying to distort anything, but according to the "Format" noted, they are only seeking a 12 month History; as in your example over time, the Pricing is in Flex with the market (different rates & other items come to mind) and this is probably my pet peeve. (I do a similar historical search, but do not add it in for the reasons described). Not trying to get you to change your ways, our markets are different and if that works in your area, so be it.
IE: a lot of Clients want specific "time Lines" of 180 days and when you exceed that, they want a blurb as to why you had to exceed Their guidelines, Not anyone else's.
For me, I will peek into the history, but at this time do not feel the need to jump into the "way back" machine and if they desire, they can peek at the history on their end (less work for me), as they have as much access as we do to MLS data (their due diligence).
Just a few thoughts
 
CDOM may be reported in compliance with the UAD in the sales grid.
 
CDOM may be reported in compliance with the UAD in the sales grid.
True, if the appraiser uses one of the 3 blank rows at the bottom of the sales comparison grid for that purpose. However, the UAD spec is very specific that it is the DOM that must be reported at the top of the sales grid in the "Data Source(s)" row.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top