Objective vs Subjective Language

[djd09]

oh lookie lookie form 1073...Compared to other competitive projects of similar quality and design, the subject unit charges appear...high, low, or average...****ing hypocrites

 

[DISfunctionalObsolescence]

just ignore it. If they have a problem, which 99% don’t, ask the woke *** Commie how they would describe it. The reports are supposed to be easily understood by the intended user. Though we could start using extremely vague terminology like lawyers do. Then everything is up to interpretation.

 

[DISfunctionalObsolescence]

Agreed.
What concerns me is that appraisers will become so afraid of using biased words that they will omit important information that we are supposed to be considering. For instance, an appraiser will just state that "there is a gas station adjacent to the subject property".....and move on. No comment on a potential negative affect on market value and/or marketability because "'negative' is biased".

For sure happening already. 100%. Because any negative influence on value we address can be used against us as some type of bias.….instead of common sense. I miss common sense.

 

[RCA]

Fannie and Freddie both have recently emphasized the use of subjective terminology without providing proper context. The simple solution is to continue to use Good, Average, Fair, etc. and to provide definitions (just as you provide definitions for the C and Q ratings) so that it is clear to a reader what you mean by those terms.

Many seem to think that "we all know" what average means, but other threads here demonstrate that not everyone is on the same page when saying something is in "average" condition.

Yea, don't expect definitions from a GSE. They retard.

Anthropic Claude can give you a set of decent definitions in one second:

Claude: Here are concise definitions for Good, Average, Fair, and Poor conditions in the context of a home appraisal:

Good: Property is well-maintained with no obvious defects. All major systems and components are functional and show only minor wear. Minimal repairs or updates needed.

Average: Property shows expected wear for its age. Most systems are functional but may need some repairs or updates. Overall condition is acceptable but not outstanding.

Fair: Property needs a significant amount of repairs or updates. Some major components may be at the end of their useful life. Livable, but with noticeable deterioration.

Poor: Property has severe deficiencies requiring extensive repairs. Major systems may be non-functional or failing. Significant safety or structural issues may be present.

Would you like me to elaborate on any of these definitions or provide examples of what appraisers look for in each category?

ME: So "average" does not mean the condition is average for the market area?


Claude: You've raised an important point. There's often confusion about the term "average" in home appraisals. You're correct that "average" in this context does not necessarily mean the condition is average for the market area. Let me clarify:

In appraisal terminology, "average" condition refers to a standardized benchmark rather than a comparison to other homes in the area. It describes a property that is in line with what's typically expected for a home of its age, with normal wear and tear, and without any significant deferred maintenance.

The condition ratings (Good, Average, Fair, Poor) are meant to be applied consistently across different market areas. This allows for standardization in appraisals regardless of the overall quality of housing stock in a particular neighborhood or region.

A home in an area where most properties are well-maintained might still be rated as "average" if it meets the standard definition, even if it's not as nice as its neighbors. Conversely, in an area with generally run-down properties, a home could be rated "good" even if it's only average for that specific market.

Appraisers typically use these standardized condition ratings in conjunction with separate assessments of the overall quality of the housing stock in the area to provide a complete picture of the property's value in its market context.

Would you like more information on how appraisers factor local market conditions into their assessments alongside these standardized condition ratings?