Form 1004MC for a lake front home?

[Mr Rex]

I only know of one MLS that allows searching by "Lake front"

I work 50,000, 20,000, 3,750, and 2,800 acre lakes. The 2 larger ones have their own "area" in the MLS, the smaller ones can be searched by lake name as a subset of the county area, like a subdivision. All of the MLS searches can be refined to waterfront.

 

[Joyce Potts]

You should have paid more attention when you had the chance. In part, you're asking the question.

 

[ethanw]

This is what I put. Rarely does my 1004 MC match the neighborhood section, especially in rural area.

The analysis in portions of this form is limited by the lack of data or research functions of the MLS system. As such when data is insufficient for reasonable analysis, the overall trend was not included above. The accuracy of the data above is solely dependent upon the accuracy of the data obtained through the XX MLS.


Although the conclusions above may differ from the conclusions stated within the neighborhood section of the URAR form, the conclusions within the appraisal report are based on the defined neighborhood as a whole (including all comparable and non comparable properties) and is consistent with the analysis performed. Pending, withdrawn and expired listing were included in the analysis as they are relevant in determining the total number of active listings, median list price and median days on market for the above listed periods. Due to the lack of data available to the appraiser, meaningful analysis cannot be performed.

 

[Wm. Hattaway]

I do the same as Peter if the trend cannot be determined on the MC form.

Personally I don't use the 1004MC to track market trends as it is to limiting in only using comparables. I use the neighborhood boundaries for market trend. Then should the 1004MC show a contrary trend (with its 8 comps over a 1 year time) I will over ride it and explain to the client why it was changed.

 

[Bill Tompkins]

Joyce,
You are brilliant, but you know that.