Fannie Mae and "Multiple Parcels"

[Econobot]

You really need that HBU class, you're clueless and I'm actually doing real appraisal work and my clients are aware of how and why I'm doing it the way I am.

You should stop digging because if you have vacant land sales and you have SFRs on single lots you can compare whether that sum is higher or lower than the SFR on the single large lot. That's not the optimum way to do it, either; but it's better than making the unfounded assumption that the vacant parcel is worth more as a lawn for the SFR than as it's own marketable site.

You really don't want to get into it with me on the valuation of vacant land until you've completed at least a dozen land appraisals on your own - which I know you haven't done yet. I've got 4 land appraisal assignments going right this minute, and you're not qualified/licensed to appraise any of them.

20 acres or raw land with a potential yield of 100 SFR parcels
6-lot assemblage consisting of a small SFR subdivision parcels that were recently mapped
195-acre assemblage to yield 14 estate-sized lots
20-acres of hillside avocado grove that's good for a 4-way lot split+remainder.

Would you please address my method and stop with the egotistical chest beating. How do you know how many land appraisals I have done and who cares. Last I checked this thread was about appraisers solving the problem of valuing 2 parcels with seperate HBU for a lender who wants them on one report. You want to join JGrant and ignore my method and simply attack me? Go ahead, it only proves my point that you're incompetent. Please address my method.

 

[J Grant]

You really need that HBU class, you're clueless and I'm actually doing real appraisal work and my clients are aware of how and why I'm doing it the way I am.

I am "clueless" according to an AMC work newbie,all the high value appraisals I did which were scrutinized and they get 2 appraisals done on them for comparison - carry on with nonsense rants you have zero to contribute to the topic, otherwise you would be actually addressing the topic.

right about one thing - spending too much time here is a waste and better things to do so will cut back, but staying on this thread for now too bad E bot...

 

[Econobot]

You have nothing better to do with your time than post personal rants about me ? Either post content about the subject or stop - but nothing stops it, Some here said my perspective can be "right," other said wrong - Greg B, George Hatch, Mr Rex and others here have explained how it can be done per the fannie example, but you pick on me for saying the same -funnier still that you, doing AMC work newbie call me a form filler - I have mostly direct lender clients ( takes years to get on their panels ) and do a lot high value and complex work - ocean front estates among them as well as reviews.

I anticipate you will continue with personal rants , since unfortunately they are allowed on threads and the one time you actually addressed topic with your pathetic "solution" of HC mush George Hatch shot it down, so you have nothing to offer on the subject except throwing insults at me - carry on very predictable

Go away and let someone who actually understands appraisal concepts become the top poster. You obviously miss the boat on a very basics methods. Thanks for spamming threads with your interpretations and wrong information. I read hatch's reply, he pulled a JGrant and completely ignored my method and instead decided to tell me how great he is.... you do the same pathetic crap because you can't comprehend what I'm saying. You don't even understand why Fannie's "value in use" is trash and in conflict with HBU. Despite another comment regarding interagency guidelines and how anything other than market value is not acceptable. Hatch can speak for himself and I already called him out. For the last time, go away, go take a class. For the sake of this forum. STOP POSTING your ignorant ego filled misinformation.

 

[Econobot]

That's still not how it works. There's nothing hypothetical about a property owner holding and using multiple parcels. Nor is there anything hypothetical about putting an opinion of value on the assemblage. Nor is there anything hypothetical about a lender being willing to encumber them all at a 95% loan if that's what they want to do.

Nor is (invariably) calling the value of the assemblage MV as it relates to each parcel a hypothetical - it's just dishonest.

It's a hypothetical condition that the parcels are merged as to prevent seperate development when they are not actually merged as one, hence the HC.

 

[J Grant]

Ebot when you first joined forum you told several highly experienced appraisers they should leave the profession, Now on this thread elected yourself mayor of the board, who should stop posting, who is incompetent, who needs to take a HBU class etc. It is entertaining at this point . Carry on. .

 

[Econobot]

Ebot when you first joined forum you told several highly experienced appraisers they should leave the profession, Now on this thread elected yourself mayor of the board, who should stop posting, who is incompetent, who needs to take a HBU class etc. It is entertaining at this point . Carry on. .

If you can't demonstrate HBU analysis then you're a form filler, like yourself. You simply create reports like the lender and probably borrower tell you they want/need. This thread is proof in the pudding, you clearly do "value in use" form filling with no concept of HBU. So let's break it down...where did you learn value in use? I learned about HBU and that's the basis I start from. "Value in use" is a departure from or admonishment of HBU, as others have stated. So by your practice of "value in use" you have departed from appraisal theory (HBU) and moved into uncharted waters where Fannie guidance determines your scope of work and how you value real estate. Any other questions about your incompetence and form filling?

I've lost patience with this forum and the threads I'm seeking input on because of people like you who offer wrong information. I'm on this forum to gather insight and you're a terrible source of that information. It's become personal because over the past 2 months you've trolled this topic on multiple threads with your garbage. If Fannie's guidance was correct about "value in use" why does it keep coming up? Why do the majority of members of this forum claim it's bad advice?? This is the point, you don't even read the posts, you echo what you've already said like it's groundhog day. If you disagree then do that and STOP posting. You obviously don't have the credentials for anyone to believe what you're saying nor do you present any evidence to persuade anyone of anything.

 

[George Hatch]

Ok, so you invent an improper HBU analysis of an appraisal you never saw -

I would say it's FAR more common for the HBU analysis to be completely omitted. Didn't even consider it.

 

[George Hatch]

It's a hypothetical condition that the parcels are merged as to prevent seperate development when they are not actually merged as one, hence the HC.

Still not how it works.

 

[George Hatch]

If you can't demonstrate HBU analysis then you're a form filler, like yourself. You simply create reports like the lender and probably borrower tell you they want/need. This thread is proof in the pudding, you clearly do "value in use" form filling with no concept of HBU. So let's break it down...where did you learn value in use? I learned about HBU and that's the basis I start from. "Value in use" is a departure from or admonishment of HBU, as others have stated. So by your practice of "value in use" you have departed from appraisal theory (HBU) and moved into uncharted waters where Fannie guidance determines your scope of work and how you value real estate. Any other questions about your incompetence and form filling?

I've lost patience with this forum and the threads I'm seeking input on because of people like you who offer wrong information. I'm on this forum to gather insight and you're a terrible source of that information. It's become personal because over the past 2 months you've trolled this topic on multiple threads with your garbage. If Fannie's guidance was correct about "value in use" why does it keep coming up? Why do the majority of members of this forum claim it's bad advice?? This is the point, you don't even read the posts, you echo what you've already said like it's groundhog day. If you disagree then do that and STOP posting. You obviously don't have the credentials for anyone to believe what you're saying nor do you present any evidence to persuade anyone of anything.

You need to figure out how to disagree with people without making it personal or taking it personal.

Every time we talk about each other (like I'm doing right this second) what we are not talking about is the subject at hand. We need to compartmentalize between the ideas being discussed vs the personalities discussing them. This enables someone to agree with me or anyone else in one thread and disagree with me in another on the basis of the topic and not on the basis of me being a poo-poo head.

 

[Econobot]

You need to figure out how to disagree with people without making it personal or taking it personal.

Every time we talk about each other (like I'm doing right this second) what we are not talking about is the subject at hand. We need to compartmentalize between the ideas being discussed vs the personalities discussing them. This enables someone to agree with me or anyone else in one thread and disagree with me in another on the basis of the topic and not on the basis of me being a poo-poo head.

I agree George, but you apparently aren't aware that these threads have been open since late October or early November. I've been dealing with the "top poster" trolling my efforts since this time. She sees fit to not read comments and echo previous statements redundantly over and over. I've said more than once I'm tired of reading her misinformation. She's one of the few appraisers on this forum claiming it's fine to do "value in use". I'm a working appraiser trying to establish best practice on this subject. What I've gathered so far is that Fannie is wrong (opinion of majority of appraisers I've spoken with outside of this forum) and that they will be redacting/revising that guidance very soon (alleged by forum members and some of the appraisers I spoke with outside of this forum). So please, spare me the lecture about JGrant, she needs to back off this site and specifically these threads. If you'll casually read through the threads you might find I'm not the only who has an issue with her misinformation. Moreover, she's been told to stop commenting and start reading others posts by other forum members (CANative recently). For whatever reason she sees fit to endlessly bombard threads like she owns the forum or is the forum expert. She's been proven wrong countless times yet still sees fit to troll the threads with incessant rambling of her own competence (high end/waterfront/etc)... Thanks for your input George but this forum is better suited in providing solid information/analysis/opinions on appraisal theory and practice, not the defense of "top posters". Maybe heed your own advice and tell me how I'm wrong by using an HC and checking NO on HBU....??? Thanks