FNMA selling guide declining trend definition

[PushinValue]

Hello,

No such definition correct?

My problem is with fluctuating and or non linear trends. Elevated one year prior, bounce in the 6 months and slightly lower in the last 3 months. Listings do NOT show a sustained decline, although marketing times have increased slightly. DOM are still sub 90 days and inventory has been under 3 months the entire time.

Given all of this information, do you tend to sway one way more than the other? It can technically be considered "declining" but is not the traditional decline where listings show a continued decline...

 

[shrubberyvaluation]

Hello,

No such definition correct?

My problem is with fluctuating and or non linear trends. Elevated one year prior, bounce in the 6 months and slightly lower in the last 3 months. Listings do NOT show a sustained decline, although marketing times have increased slightly. DOM are still sub 90 days and inventory has been under 3 months the entire time.

Given all of this information, do you tend to sway one way more than the other? It can technically be considered "declining" but is not the traditional decline where listings show a continued decline...

If the overall price trend is declining for the prior 12 months.

 

[Cob]

If the overall price trend is declining for the prior 12 months.

Stop using common sense, it confuses the entities that tell appraisers what to do!

 

[Fernando]

You're the appraiser. You make the call and defend it.

 

[J Grant]

There is no standard benchmark. That is why each appraisal needs its own market analsis

However, bear in mind the question is Declining- (or rising), both are active verbs, which is different than asking if prices declined or rose over the past year. Therefore, imo, the immediate last several months as well as current listing and pending trends are critical,

 

[Tom D]

I hate the flucuating in the middle of a year trend. Hard to say. Was rising but appears to becoming stable. I never look past 1 year.

Then i also hate when the county, zip code, neighborhood and my comps trends don't look similar. Sometimes the comps selection is a trend on it's own.

 

[Fernando]

When in doubt, put stable. Works for me.

 

[DWiley]

When in doubt...

Actually, follow what is in the GSE Guides. Compare prices now to prices a year ago (at least) and select the corresponding box

 

[Fernando]

Actually, follow what is in the GSE Guides. Compare prices now to prices a year ago (at least) and select the corresponding box

When I look at the stock market, a year ago is irrelevant. It fluctuates UP and DOWN greatly throughout the year.
What's most important is current market conditions.

 

[Terrel L. Shields]

Part of my market is so variable I don't know how you even define it. Land sales, for example, 40 acre tracts are selling for $15,000 an acre but a quickee survey and suddenly 10 acre parcels are selling for $29,000 an acre. Houses? Good shape going up 6-10% annually, Manf. Homes increased in value by 200% in 4 years. That makes no sense. Pricing is nuts. What kind of morons have that kind of money to throw around? I saw a 4,000 SF McMansion sell for $900k last year and now it is back on the market. Really? Cannot afford it? Or think you can flip it and buy something better? Who has these kinds of jobs in the Ozarks?

$375,000 for 5 acres and a garbage house? And laughable says it is 10 minutes from NWX airport.... 10 minutes??? You'll have to average 110 miles per hour then. It's 15 miles to the terminal. It's a beauty right?