Joe Flacco
Elite Member
- Joined
- Jul 31, 2013
- Professional Status
- Certified Residential Appraiser
- State
- Maryland
Just addressed in another thread:
Just to be clear, the 12 month analysis should be the basis for the response on page 1 of the URAR indicating the price trend (stable, increasing or declining). So, if prices have risen over the past 12 months, then the trend would be indicated as "increasing."It was good that Fannie has clarified what it wanted - a 12 month analysis. It's a start in setting a standard for appraisers.
As you noted, this clarification was made because research with appraisers found that no consistent methodology was being applied.
Also, just because the trend is increasing, that does not...
Now that it has been clarified that "overall trend" is the YoY trend, has there been any discussion on what is stable? Would you say 3%+/- change year over year could be reported as stable? We should also discuss what is undersupplied, balanced, and oversupplied.