Neighborhood Info Section

[Restrain]

And the above is bureaucrat-speak. The Neighborhood is the neighborhood, be it unitary or mixed, regardless of what a bureaucrat out of DC says. This has been argued between Fannie and practicing appraisers for years. The MC reflects what is comparable to the subject from the Market Area. The Market Area may or may NOT be the Neighborhood.

Example is a 1900's 4000 SF Victorian in a town of 20,000. Your neighborhood may be a portion of the town, say the old 'banker's row' area. The Market may be the town, as well as several competing towns in the overall area.

 

[Meandering]

So are you saying that we actually can appraise non-cookie cutters in non-cookie cutter neighborhoods for Fannie loans?


(Just Kidding)

But you must conform.
Conform because the computers can't handle all zeros on the 1004MC.

As with most things, narrate, narrate, narrate and prepare for more stupid stips for stuff you already narrated, so you can narrate again.

 

[glenn walker]

A neighborhood located in certain urban or suburban areas can be well defined. BUT In rural areas there is no such thing as a neighborhood but more of a general area surrounded by similar types of uses , ranches, farms etc. Extreme example would be in the Los Angeles area. Beverly Hills is a well defined neighborhood and City segregated by certain boundary lines, major arterial streets, police, fire and school districts. YOU are either in Beverly Hills or your not. Call 911 from 400 feet outside the boundary and you may get the LAPD dispatcher. Question is anyone dead ? Call 911 from the City of Beverly Hills and the dispatcher says we have 15 officers , a SWAT team and the Medivac helicopter on it's way. LOL