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"growth" Checkboxes On Gse Forms

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djd09 said:
The median list price trend is always useful when estimating the median list price.
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Yeah. The fact that list prices for similar properties in an area have been trending down for a year could not possibly be relevant information :) Jeez. What were they thinking?
 
You are right it is a great form. They should be proud. I'm sure all the huge bankers are fighting over the rights to them.
 
Ahhhh Yeahhhh said:
That was the UW's response exactly. But why not mark declining? Its clearly a decline isn't it? If it isn't a decline then what is it and why?
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That looks more like stable. Heck the same house can sell for wider variances with different buyers and sellers Also, remember, these are identical houses...they have variances that contribute to value.
 
residentialguy said:
That looks more like stable. Heck the same house can sell for wider variances with different buyers and sellers Also, remember, these are identical houses...they have variances that contribute to value.
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Thats the problem... There aint an option for "more like stable". If I mark stable and some almighty reviewer says its declining because the math shows a decline, I can't say he is wrong. But if I mark it declining, and the almighty reviewer says its stable then he is making a judgement and I am using facts.

The truth is, the stable box should hardly if ever be marked. If stable markets existed, we wouldn't have a job.
 
Ahhhh Yeahhhh said:
There aint an option for "more like stable ...I can't say he is wrong"
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What you have is stable. Yes, you can say he's wrong. And since when did you let some QC monkey tell you what to do? Grow a pair
 
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The form itself, sucks. It is confusing and is a debacle. It was typical Guberment pressured FHMA halfass fix. 6mo/3mo/3mo....really???? What kind of trend fit's that? 3mo/3mo/3mo/3mo is what is needed. Or better yet, 2 years showing 6mo/6mo/6mo/6mo. Their instructions are wacked and confusing. The term "comparable" on the MC doesn't line up with page 1's One unit properties, yet they want it to match - which is misleading. On the MC form, they have the subject data lining up with the overall trends to make it look like the trend should reflect that data. It's a horrible design and they should have corrected it.

I don't mind that they want to know comp data. While most of the time, the amount of truly comparable sales in the subject's immediate neighborhood is not sufficient to be a reliable indicator of trends, that is good information to know and will support the appraiser needing to go out of the neighborhood or older time frame for additional comps on the SCA. As far as the overall trend, they should have the option to add additional 1004MC form where the appraiser can expand parameters to show support for the overall trends.
 
residentialguy said:
What you have is stable. Yes, you can say he's wrong. And since when did you let some QC monkey tell you what to do? Grow a pair
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I personally subscribe to the school of thought that there is no such thing as a stable real estate market. The market has been in flux since the beginning of time and will constantly and forever be in flux. It will always be either a buyers market or a sellers market or a dead market but it will never be a stable market.
 
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