New 1004

[William K]

The biggest issue I have with the new format (form) is a page where they ask for the sales/listings that were not included in the report and why (If your initial search pulls up 45 sales but you only used 3). During Beta testing, I argued we (appraisers) report to the positive not the negative ( we state a property "has a brick exterior", not that "it doesn't have a frame, cement board, or asbestos shingle siding" for example ) but reviewers and underwriters argued they thought it was a necessary improvement to know which sales were not included and why. My statement was that could be limitless. I can see reviewers using review software that pulls 30 sales asking for inclusion as to why they were not used.

 

[Tom D]

I solved that riddle, i always use 4 comps. In this big city you could pull all sorts of sales, in all sorts of condition within 1/2 mile. As a long habit i do put a list of sales i have look at with a map, easy MLS function to do. Now will there be a way to group and paste those sales in 1 step. Ain't typing in 15 sales. My direct lenders are easy going, but if your lender AMC, have less tolerance. Then it will be all day answering this not included on grid nonsense. If that happens, if not more fee, good bye to profession. The inclusion as to why 30 sales were not used is another appraisal, a range appraisal.

I could live off a$1,000 per appraisal to do all that minutia. Foreclosures are caused by economic situations, not appraised value. What has fannie done to protect itself on the underwriting lending side.

 

[djd09]

I'm glad I'm not the only one who notice that. I keep reminding him that (is it unconscious bias?) he makes appraisers look bias and that's an understatement.

i could use the word pale...if you two find it less offensive

 

[Tom D]

Yes, i like the word pale face, to quote old cowboy movies. However, I prefer using flavors. Like, the neighborhood has different flavors. Interpret that as you like. I would prefer vanilla old appraiser.
I knew you were a thinker who would not want us to mis interpret you thoughts. So at this point action speaks louder than word.

 

[J Grant]

Hopeully they will not expect us to comment on every sale and listing not used ! ( that should double the fee 0

A blanket statement that the sales are not used because they are less comparable to the subject then the ones used DOH should cover it.
The new form adds additional measuring and other minutia and will take longer to complete. For the same stinky fees? A tiny trickle of misled people have completed PAREA. I feel sorry for them. What young person in their right mind would enter on the res side now?

 

[J Grant]

Have the appraiser list the sales and listings they did not use, and explain why.

With that line of reasoning, a doctor should list all the diseases they did not diagnose and explain why, a dentist should list the teeth not drilled and explain why, and an accountant should list all the possible deductions they did not use and explain why, and a lawyer should list all the possible arguments they did not use, and explain why.

 

[djd09]

employers tell their employees what to do...

 

[djd09]

fannie forms, fannie guidelines, fannie jargon, fannie rating system, fannie CU review, fannie certs, fannie limiting conditions...fannie brainwashed

 

[Tom D]

Fannie, wha da. Pretty soon the fannie bite the bullet appraisers philosophy will get to a point where that bullet won't fit, or be swallowed anymore.

Those left to endure this may have a french revolution to give fannie.
Or just say **** it, i'm too old for this. Adios amigos.

 

[Fritz in NY]

As usual, "our" simple forms are being changed by WHO? Not appraisers. Backbones would be nice. I'm with the spineless generation.