Mike Garrett RAA
Elite Member
- Joined
- Jan 14, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
Consider the data...what is it telling you? Are REO and short sales "the market"? Using a mix is, in my opinion, the best approach to the problem. Reconcile the data to what is most appropriate. Failure to consider ALL of the data could result in your report being misleading.
For the last year or so I have been including a one line CMA print out showing all of the llstings, pendings, and closed sales that I have considered. This provides the underwriter or reviewer with a better picture of the market than three or four sales that are put on the grid. Granted those sales are un-adjusted but those do provide a broader look the market in general. Those sales are filtered and are the sales reported on the 1004mc.
For the last year or so I have been including a one line CMA print out showing all of the llstings, pendings, and closed sales that I have considered. This provides the underwriter or reviewer with a better picture of the market than three or four sales that are put on the grid. Granted those sales are un-adjusted but those do provide a broader look the market in general. Those sales are filtered and are the sales reported on the 1004mc.
