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[Mike Ault]

Mike you may want to think this through a little bit more maybe you have been doing it this way for 30 years but maybe its time to realize this not 30 years ago when only one box was allowed to be checked and that was "Stable" I have no idea who in a increasing or declining environment you dont also run Listings and Pendings. Right now we are strating to se new penings and Listings at lower prices for the first time in 8 years and so its required we look at these. When I was doing Big Chaser Bank default Reviews in 2008 almost all appraisers had no support for their increasing price adjustments and in 2010 the same when it was declining.

This thread started because I described the "price metric" of my search for active listings rather than simply entering zero's in every field. Then it degenerated into "I don't run active listings before I go into the field". Actually for as long as I can remember I print a CMA of everything similar and head out. Once I figure out what I have there I will let my CMA over and hopefully find enough sales to form a credible opinion. If actives and pending's are important to my opinion of "present" market value then I will drive and photo them as well. Rarely happens. My values are based on an analysis of market activity that occurred prior to or as of the date of value. They are not skewed up or down by things that haven't happened yet. They are grudgingly reported to exist if needed for FHA.

 

[Mike Ault]

Big no no to search solely on price range.

Who said "solely on price range". I said "part of the search metric". Where have you been anyway? I thought Glenn might have recruited you into "the movement".

 

[glenn walker]

This thread started because I described the "price metric" of my search for active listings rather than simply entering zero's in every field. Then it degenerated into "I don't run active listings before I go into the field". Actually for as long as I can remember I print a CMA of everything similar and head out. Once I figure out what I have there I will let my CMA over and hopefully find enough sales to form a credible opinion. If actives and pending's are important to my opinion of "present" market value then I will drive and photo them as well. Rarely happens. My values are based on an analysis of market activity that occurred prior to or as of the date of value. They are not skewed up or down by things that haven't happened yet. They are grudgingly reported to exist if needed for FHA.

But you are wrong forget FHA and 1004-MC even if you didn't use it you are required to analyses all sales, actives and pendings conventional, FHA, VA that are available or how else would-you support your market trend you analyzed and your conclusions ? This information if available along with your closed sales should be summarized in the Neighborhood Section of your Fannie Mae appraisal forms. If there are no Listings or Pendings it is what it is--But that's not a N/A which means not Available or not Applicable you Report as a -Zero- ( 0 )

 

[Mike Ault]

But you are wrong forget FHA and 1004-MC even if you didn't use it you are required to analyses all sales, actives and pendings conventional, FHA, VA that are available or how else would-you support your market trend you analyzed and your conclusions ? This information if available along with your closed sales should be summarized in the Neighborhood Section of your Fannie Mae appraisal forms. If there are no Listings or Pendings it is what it is--But that's not a N/A which means not Available or not Applicable you Report as a -Zero- ( 0 )

No, I am right! Here is my analysis of all sales, actives and pending's for the $825,000 property I'm working on today. Hopefully you will see how it provides excellent support for all of the boxes in the "Neighborhood Section" of the URAR. Far better than the data in the 1004 MC. As you can tell at a glance "equity rich Californians" are still flocking to my great state and keeping the market hot.

 

[glenn walker]

Data is data. The Data itself is not misleading. Failure to analyze the data could produce misleading results. As I posted in my prior threads in the past sometimes one has to add commentary to explain the data rather than just throwing the raw data in the grid or on an addendum. That is the value of an appraiser, as opposed to, for example, an AVM. We can think about the data - a machine cannot.

 

[glenn walker]

No, I am right! Here is my analysis of all sales, actives and pending's for the $825,000 property I'm working on today. Hopefully you will see how it provides excellent support for all of the boxes in the "Neighborhood Section" of the URAR. Far better than the data in the 1004 MC. As you can tell that a glance "equity rich Californians" are still flocking to my great state and keeping the market hot.
View attachment 64101

No, I am right! Here is my analysis of all sales, actives and pending's for the $825,000 property I'm working on today. Hopefully you will see how it provides excellent support for all of the boxes in the "Neighborhood Section" of the URAR. Far better than the data in the 1004 MC. As you can tell at a glance "equity rich Californians" are still flocking to my great state and keeping the market hot.
View attachment 64101

If you were also using the 1004-MC that would be te data you would place into it .

 

[Mike Ault]

Data is data. The Data itself is not misleading. Failure to analyze the data could produce misleading results. As I posted in my prior threads in the past sometimes one has to add commentary to explain the data rather than just throwing the raw data in the grid or on an addendum. That is the value of an appraiser, as opposed to, for example, an AVM. We can think about the data - a machine cannot.

I go into narrative mode on the 1004MC. Those graphs are just a supplement to this. From the same appraisal I am working on presently.

 

[glenn walker]

I go into narrative mode on the 1004MC. Those graphs are just a supplement to this. From the same appraisal I am working on presently.
View attachment 64102

Looks Real Good Maybe- Your Saying You Don't Look At Listings and Pending i What was Confusing Because you Do- Maybe just explain it a little better for us low IQ Readers

 

[Mike Ault]

Looks Real Good Maybe- Your Saying You Don't Look At Listings and Pending i What was Confusing Because you Do- Maybe just explain it a little better for us low IQ Readers

Yeah, it got late and this thread ran off the tracks last night.

 

[Sadie]

This thread started because I described the "price metric" of my search for active listings rather than simply entering zero's in every field. Then it degenerated into "I don't run active listings before I go into the field". Actually for as long as I can remember I print a CMA of everything similar and head out. Once I figure out what I have there I will let my CMA over and hopefully find enough sales to form a credible opinion. If actives and pending's are important to my opinion of "present" market value then I will drive and photo them as well. Rarely happens. My values are based on an analysis of market activity that occurred prior to or as of the date of value. They are not skewed up or down by things that haven't happened yet. They are grudgingly reported to exist if needed for FHA.

Actually someone else started the thread. And you were the one who said you relied on the price range. Perhaps you did not mean as the sole parameter, but the statement implied that. Your post #3 indicates a price only search. You later clarified that.