Freddie Mac neighborhood market area FYI

[NC Appraising]

Neighborhoods, Market Areas and Market Conditions for Lenders

Buying a home is one of the most important financial investments consumers will make, and getting a professional evaluation of its condition and value before making the purchase is vital.

sf.freddiemac.com

Well done whomever you are. Must have been reading my rant posts on subdivisions and neighborhoods....

Now, how do you get your 60k appraisers to understand this? I thank the GSEs need to require yearly CE for appraisers to be approved to be a able to deliver appraisals to the GESs. The only way the brainwashing and old tales can erased....

 

[Fernando]

When giving descriptions on a neighborhood, I realize I've been putting mostly favorable factors in the description.
Should I put negativities like close proximity (rather subjective) to large cemetery (subjective?)?

 

[djd09]

dont they use the zip code to run ace...

 

[sputnam]

When giving descriptions on a neighborhood, I realize I've been putting mostly favorable factors in the description.
Should I put negativities like close proximity (rather subjective) to large cemetery (subjective?)?

You should describe the neighborhood the way that it is. Do you really think that a reviewer or underwriter won't notice that there is a cemetary... or other potential negative... nearby?

 

[djd09]

there are good neighborhoods...and poor neighborhoods