"growth" Checkboxes On Gse Forms

[Ahhhh Yeahhhh]

Hell, I will give you $100 if you can show me how it is anything other than useless. Make that $200. Hell, fuggit... Make it $10000.

Thats a $10000 offer if you can show me how it is anything other than useless. If you can't then you owe me $10000. Deal?

 

[DWiley]

Hell, I will give you $100 if you can show me how it is anything other than useless. Make that $200. Hell, fuggit... Make it $10000.

Thats a $10000 offer if you can show me how it is anything other than useless. If you can't then you owe me $10000. Deal?

If you are that confident, just post your example and collect the easy money

 

[Eli]

It's the conflict between page 1 of the 1004 and the 1004mc. They both should have been revised at the same time.

I can't do everything.

 

[DWiley]

...if you can show me how it is anything other than useless. If you can't then you owe me $10000. Deal?

The dichotomy of your positions in this thread is quite entertaining. On the one hand, you state, "Pretty much everything in this entire section of the 1004 needs to be defined within your report and your rationale explained."

Yet, while you are stating that appraisal reports need definitions for basic terminology, for the understandability of the reader, at the same time you are saying that providing actual support for market conditions is useless ???? Very perplexing. The whole purpose of the 1004MC is simply to provide a standard reporting format for an appraiser to provide actual support for the reported market conditions.

Again I think the primary misunderstanding with the 1004MC is the grid. Many seem to think only of that grid when they talk of the 1004MC. In my area, most (75%+) of the time there would not be a sufficient number of comparable properties in the subject neighborhood to draw credible trend conclusions solely from the data in the grid. That does not make the 1004MC useless, because (1) when there was sufficient data the support was very clear and easy to understand, and (2) when there was limited data the grid served to support the appraiser's need to use less than ideal comparables in the comparison approach or to use dated and/or distant comps, and (3) if the data in the grid is insufficient, then the appraiser is supposed to provide other data (in the 1004MC) to support the reported trends.

My honest belief is that many (not all) of appraisers don't like the 1004MC form because it pulled down their shorts and exposed the fact that they really did not have support for the trends that they were reporting. It is true that some were doing a great job of researching trends, and for them the 1004MC just meant a change in the format for work they were already doing. Some also fall into the camp of an appraiser I spoke with on this topic recently. His report had lots of good data indicating a certain trend in values, but he ignored all that data and reported something else, because "he just knew" that all that data wasn't correct. Now THAT is some credible support. NOT

 

[Eli]

I have no problems with the 1004mc. I have more problems with those managing the appraisal process like AMC's. I have problems with the 1004 too.

I don't like any form of monopsonistic competition if it don't benefit the public. I am a huge fan of truth in lending. I am a free market proponent.

 

[Mr Rex]

There should have been a 4th growth checkbox pre 2006. Cancerous, Rapid, Stable, Slow. or perhaps Malignant, Rapid, Stable, Slow.

 

[Ahhhh Yeahhhh]

I got a $10000 check with your name on it. All you got to do is show that the MC form is better suited for anything other than toilet paper.

 

[Eli]

My biggest problem is fastest and cheapest. Call VA and tell them you want to be the fastest and cheapest appraiser. Just remember in Atlanta that many of them are veterans and certified appraisers with many years in the profession and didn't fall off a turnip truck yesterday.

But call them and say you want to be the fastest and cheapest. Make my day!!!!!

 

[Meandering]

Tell you what - I will make an offer to all Forumites. For the first person who can provide an example of a correctly completed 1004MC form that is useless, I will provide $100 certificate to the CE provider of their choosing. To anyone who takes up this challenge, remember what I have written many times - the grid is only part of the form

I had a circa 1790 log home in the middle of down town Allentown that FINALLY got bulldozed for an office building.

1004MC useless.

I had an 1870 home, slate on grade 1st floor, alongside a creek in a flood zone, with an abandoned municipal water supply well and a 1900's Sears Catalogue Bank Barn.

1 comp in the neighborhood. (READ TOWNSHIP).

1004MC, useless.

.

 

[Ahhhh Yeahhhh]

I did a 1400 sf 3 bedroom 2 bath home in a subdivision of 300 other identical homes built around 2003. 1004MC useless.