Functional Utility

[BRCJR]

All Season or Year Round, for examples, express the utility better than Average or Adequate.

What is Average or Adequate functional utility?

Please define.

 

[Bobby Bucks]

Since there is Q4 and C4, why not use F4 as a description? …..of course it has a different meaning in tropical locales which may be an accurate description of the reports being delivered.

 

[Fernando]

All Season or Year Round, for examples, express the utility better than Average or Adequate.

What is Average or Adequate functional utility?

Please define.

What the hell is All Season or Year Round. Stop confusing with tires.

 

[Fernando]

Am I the only one? I looked favorably at open floor plans and give it some good subjective adjustment. It costs money for the current design concept of the open floor layout. Formal Dining Room is so yesterday.

 

[BRCJR]

What the hell is All Season or Year Round. Stop confusing with tires.

Do a bit of research and you will find these are not uncommon descriptions of and for residential dwellings.
Below, great one, is just one quick find using the invention of the internet.

Quickreads – Washington Guardian

year-round-comfort-home-upgrades-for-all-seasons/

 

[Tom D]

What the hell is All Season or Year Round. Stop confusing with tires.

We have 4 seasons here. In the winter you wouldn't want to there watching your tv if it wasn't warm enough. And when it's hot, at least you could open the windows. That picture has a tv sitting there with couches. That just might push it into a GLA, or because of the rustic vinyl siding on one side you can go with a finished enclosed patio.

I've noticed different terms being used for appraisal things which i've never heard of. It's called colloquial terms you dopes. Sometimes i see terms here that are that. Some of you don't understand your appraisal might be looked at, at the other side of the country where they never heard of your area colloquial term..

 

[Tom4value]

Then what's up with Fannie wanting us to put C & Q ratings instead of Average, Average (-), Average (+), Good, Good (-), .....

Because when it comes to condition and quality, the has accepted definitions. We have defined definition of average quality and good quality, therefore, C4 & C3, Q4 and Q3. We don't have defined definitions for other attributes so we say functional utility is "average".

 

[alebrewer]

In 1004, I know Fannie doesn't like the words - average, good, excellent.

Not true. Per DW (who I know isn't the spokesperson for Freddie, but nonetheless), they only don't like the terms when they're not quantified. Based on that, then, it would be completely acceptable to continue to use them assuming you - somewhere in your report - have quantified the terms.

This does, however, create a bit of a conundrum - if 'average', 'fair', etc. are 'relative' terms (which is reportedly the reason they moved away from them in the first place), then 'quantifying' those terms would make them 'absolute' and not 'relative'. IOW - if I say that 'average' means: "having received adequate maintenance, and with no significant deferred maintenance, yet not having been renovated or remodeled', now 'Average' can be understood in absolute terms. Yet that's not the common usage of the word. The common usage is as a form of comparison - the subject is 'average' compared to other homes that fall within it's market for example.

Also remember that we're still REQUIRED to use those terms to describe the condition of items such as the roof, flooring, walls, windows, etc.

 

[J Grant]

Then what's up with Fannie wanting us to put C & Q ratings instead of Average, Average (-), Average (+), Good, Good (-), .....

Seriously?

Because C nd Q numerical ratings can input for computer code for their UAD data and AVM's

We are a cheap source for their data, which they then use to cut us out of the loop with replacement products as much as possible after we have provided it.

 

[Surf Cat]

Look at Fernando running all around like a puppy in a big yard.