Feb 4th GSE requirements

[Mike Ault]

Thats pretty easy stuff that a realtor can learn and do.

True. But the square footage figures generated by CubiCasa are not to be relied upon. Ours is.

 

[gorillakimchi]

UW- Thank you for providing a detailed explanation of your methodologies and rationale in support of all your adjustments in the report. Please state how these methodologies and rationale were developed.

I received same revision damn. Is this becuase of Feb 4th GSE Requirements??

 

[Tom D]

Our MLS provids plenty of different macro time/market charts and what's happening. The realtors newsletters provide a lot of useful market data. I also do my own more micro time chart because in urban zip code, can have different value neighborhoods. Some of yous should look for MLS news letters on your MLS, also have a lot of data under the tab market, you just have to look around for it. Also, go to the realtors web site and look around. Without doing anything hard, it's there, except for the micro area you might be doing.

One thing that is important that i put in each report, instead of work file is what has been happening with mort interest rates. Freddie mac has a great mort rate chart that you can set to show 5 years, 10 years, etc. But that me, i use visual aids to break up 30 page of words. Had that class in college for my teaching degree.

 

[Brian D]

Hmmmmmmm...... Isn't the 1004MC addendum acceptable? After all, Fannie Mae did name it the Market Condition Addendum.

 

[chad hampton]

If an appraisal is done properly, not every adjustment will have a mathematical equation or statistical analysis to go along with it.

 

[Tom D]

Hmmmmmmm...... Isn't the 1004MC addendum acceptable? After all, Fannie Mae did name it the Market Condition Addendum.

Lenders are still using it, but fannie threw it into the trash can.

 

[OSU Beavers]

All of these Statistical packages have one big flaw, Garbage In = Garbage Out.

Which Stat Packs available allow the appraiser to correct bad MLS and Public data before running their regression?

 

[weird_limbs]

All of these Statistical packages have one big flaw, Garbage In = Garbage Out.

Which Stat Packs available allow the appraiser to correct bad MLS and Public data before running their regression?

Not sure if this answers your question, but the Valuation Labs tool has filters you can adjust (and it can automatically removes outliers) before running the analysis.

https://valuation-labs.streamlit.app/

Valuation Labs

valuation-labs.com

 

[Fritz in NY]

If Fannie and the VA got rid of the MC report (due to many reasons we know, but our clients have no clue) WHY, are we still talking about it?
I've overheard AMC sales people talking to "Clients" about all the "Extras" they supply in the final product, the MC Report is always one "Extra" they will provide.
These guys must troll appraiser software package's, looking for extra forms they can/could add to make the final reports better than the next AMC. It's all sales on that side. I can't even get orders from my buddy's AMC, the rates are too low to bother. Now we are looking at adding Excel and Charts to prove we know what we are doing.

 

[DWiley]

Which Stat Packs available allow the appraiser to correct bad MLS and Public data before running their regression?

That is certainly an important feature. I am not going to call out any specific software (because I don't want to be seen as endorsing anyone), but most of the good ones I have seen allow for that. The one I used in field 20 years ago allowed for data corrections.