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Improvements Condition?

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Overimprovement

Thread Starter
Senior Member
Joined
May 31, 2017
Professional Status
Certified Residential Appraiser
State
Kentucky
My question relates to the 1004 form, page 1, improvements section. The condition ratings (floors, walls, trim/finish, etc) that 'seem' to be the norm are simply: poor, fair, adequate, and good. Are there any actual standards or other conventions at play here? The UAD guidelines seem to be silent on these fields, at least per this document, which conspicuously excludes any discussion on these fields:

https://www.fanniemae.com/content/technology_requirements/uad-specification-appendix-d.pdf

Given the UAD overall property condition guidelines of C1--C6, how do you personally match up 4 descriptive ratings above to the 6 UAD condition ratings, which I understand are only for the entire dwelling? Or what descriptors are you using in your reports, if different?

I have personally added in 'very good' and 'new' in the past, and never had a revision request or even had it questioned, but just curious what others think. It stands to reason that if C1--C6 can apply to an entire dwelling, the same criteria could/should apply to individual features as well.

If 'good' is as good as it gets, that would include everything from C1 to C3 then I suppose...
 

Rocky777

Sophomore Member
Joined
Aug 7, 2011
Professional Status
Certified Residential Appraiser
State
Pennsylvania
On page one, using poor, fair, average, good, & new seem to be what most appraisers use, for the sales grid using the UAD overall property condition guidelines of C1--C6 is crap, they are poorly written and jumbles lots of important factors into 1 line. But it is what we got to do. You can always move important factors to their own line in the bottom so its easier to show comparisons between sales for items like kitchen upgrades etc.
 

Tom4value

Senior Member
Joined
Dec 4, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
Sounds like everyone uses the same descriptions. Being from MA, I tried using "wicked pissa" but it didn't catch on in other parts of the country.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
C1 - New
C2 - VG
C3 - GD
C4 - AVG
C5 - FAIR
C6 - POOR
 
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