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Housing Trends Box

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Ariba

Senior Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Colorado
On page 1 of the 1004UAD what do you consider when checking the One-Unit Housing Trends box? For example, if a market showed an increase in value for the first 6-8 months of 0.05%/mo but has since stabilized and is stable what box to you check? I had a situation were I made a time adjustment for a dated comparable property and explained the time adjustment in the addendum and stating that the market has since stabilized. Apparently, the client/lender wants me to mark the Increase Box on page 1. However, I believe that could be interpreted as misleading since the market has been stable for the past 4-months. What say you.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
"market showed an increase in value for the first 6-8 months of 0.05%/mo but has since stabilized and is stable"
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
On page 1 of the 1004UAD what do you consider when checking the One-Unit Housing Trends box? For example, if a market showed an increase in value for the first 6-8 months of 0.05%/mo but has since stabilized and is stable what box to you check? I had a situation were I made a time adjustment for a dated comparable property and explained the time adjustment in the addendum and stating that the market has since stabilized. Apparently, the client/lender wants me to mark the Increase Box on page 1. However, I believe that could be interpreted as misleading since the market has been stable for the past 4-months. What say you.

point out to client the one page one box is if market In increasing, aka active ver, ongoing increasing , not has it increased. Therefore correct answer is stable ( it is no longer increasing) point out listing and pending trends)

That said, a time adjustment should match what happened, such as if the market stopped increasing 6 months ago, an older sale would be adjusted up to that 6 month date it stopped increasing . These things need a bit more explaining a PITA
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
"Overall Trend" to me means the primary trend. Like year over year or multi-year trend.
 

residentialguy

Elite Member
Joined
Mar 24, 2009
Professional Status
Certified Residential Appraiser
State
Minnesota
btw, the trend box (both on page 1 and the MC) doesn't necessarily have to match up with the indications of the data to the right of it (comps in the neighborhood). In fact, it often doesn't.
 

Dublin ohio

Senior Member
Joined
Mar 20, 2008
Professional Status
Licensed Appraiser
State
Ohio
if a market showed an increase in value for the first 6-8 months of 0.05%/mo

Unless my math skills are decreasing. That would translate into a little over a .4% total increase in 8 months. Hardly indicative of an increasing trend.
 
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