Hybrid appraisal report

[Tiffany Gibbons]

^^^^^ This..... is what was conveyed to me through my mentor doing these hybrids. What you save in driving and inspecting time is gobbled up in digging, analyzing, verifying....and after all that, you're still unsure. Because you didn't inspect the subject, you didn't inspect the comps curbside. Thus, the only plausible solution would be to be on the conservative side on your opinion of value.

The unethical, for profit shills paint this picture; fancy, smancy, sales flowchart, making the unfounded claim of 50% faster.

View attachment 91142

And is the certified broker/agent the listing agent?

 

[alebrewer]

I do believe the inspector picks the comps and the appraiser justs makes the adjustments and comes up with a value and takes responsibility for the whole thing, even the stuff they didn't do.

The PDC report has no valuation analysis.

 

[alebrewer]

the PDC just photos and measures (incorrectly I might add) the subject property.

Actually, the measurements are performed by LiDar technology. They might be wrong, but it's not b/c the PDC missed a measurement. It would be because the technology failed (which I don't think happens that often based on what I've seen).

 

[Tom D]

Beside the lidar sketch cost, i haven't heard anybody here using it. I played with it. Was not easy and didn't seem to do it right. and you need an apple phone, android doesn't have that radar/sonar function.

I would like to hear it being used.

 

[Sadie]

The PDC report has no valuation analysis.

There is a PDC report which is in lieu of anything related to an appraisal and a Property Data Collector who is a person and is used in a hybrid report. From Fannie :

"Property data collection is the act of physically or virtually observing and reporting property characteristics in a fact-based manner. Property data collection is not an appraisal in that it does not involve the development of an opinion of value. The data collection can be performed by a trained and vetted property data collector and must adhere to the Uniform Property Dataset. Once the PDC is collected and passes quality control checks, it must be submitted to Fannie Mae’s Property Data API. Data/images are collected and delivered consistently using the Uniform Property Dataset and Fannie Mae’s Property Data API. The process encourages the use of emerging technologies to capture property information, imagery, and floor plan. (Bold added by me).

Notice how there is nothing that requires any proficiency or competency. It only has to conform to the UPD. That is a check the box kind of thing. I don't want to hang my license on someone who might be trained and vetted.

 

[Sadie]

Actually, the measurements are performed by LiDar technology. They might be wrong, but it's not b/c the PDC missed a measurement. It would be because the technology failed (which I don't think happens that often based on what I've seen).

Lidar is not required. Nothing is required except the floor plan. Its easier/quicker with whatever measuring program you have, but its not required. I have found unless the user is well trained, they are not very accurate.

 

[J Grant]

Who we are referring to in this one is the conduct of the federal govt prior to issuing their final rule.

The feldeal ovement is comprised of people. Wrt their decisions with the final rule, some person or group of influential people were influenced to make a second AMC C and R rule as the final rule.. Or did they all happen to wake up one day and randommly decide to do it?

 

[alebrewer]

Lidar is not required. Nothing is required except the floor plan. Its easier/quicker with whatever measuring program you have, but its not required. I have found unless the user is well trained, they are not very accurate.

Correct. I'm just stating how most of the PDC folks have their processes set up.

 

[alebrewer]

There is a PDC report which is in lieu of anything related to an appraisal and a Property Data Collector who is a person and is used in a hybrid report. From Fannie :

"Property data collection is the act of physically or virtually observing and reporting property characteristics in a fact-based manner. Property data collection is not an appraisal in that it does not involve the development of an opinion of value. The data collection can be performed by a trained and vetted property data collector and must adhere to the Uniform Property Dataset. Once the PDC is collected and passes quality control checks, it must be submitted to Fannie Mae’s Property Data API. Data/images are collected and delivered consistently using the Uniform Property Dataset and Fannie Mae’s Property Data API. The process encourages the use of emerging technologies to capture property information, imagery, and floor plan. (Bold added by me).

Notice how there is nothing that requires any proficiency or competency. It only has to conform to the UPD. That is a check the box kind of thing. I don't want to hang my license on someone who might be trained and vetted.

That's a business decision we're all going to have to make.

 

[George Hatch]

The feldeal ovement is comprised of people. Wrt their decisions with the final rule, some person or group of influential people were influenced to make a second AMC C and R rule as the final rule.. Or did they all happen to wake up one day and randommly decide to do it?

I don't know or have any suspicions other than they used a process of some sort to weigh the forseeable pros and cons