PDR Property Data Report

[Sandra Koutsopoulos]

PDR (Property Data Report) requires measurement, sketch with interior walls, inspection and photos of interior, checklists, no appraised value. Designed to make appraisals cheaper for use with appraisal waivers. I've heard today of one done for $150 to appraiser. AMC fee probably got another $150. Sounds like it is a fairly new product that lenders are trying out to see appraiser acceptance/response. Seems to be a government sanctioned device to put more appraisers out of business quickly and permanently if this is widely used/accepted. I'm assuming the valuation part would be done with AI at the push of a button. Appraiser would do the eyes-on part. What would a reasonable fee be to the appraiser doing the eyes-on part? What does the Forum think?

 

[glenn walker]

PDR (Property Data Report) requires measurement, sketch with interior walls, inspection and photos of interior, checklists, no appraised value. Designed to make appraisals cheaper for use with appraisal waivers. I've heard today of one done for $150 to appraiser. AMC fee probably got another $150. Sounds like it is a fairly new product that lenders are trying out to see appraiser acceptance/response. Seems to be a government sanctioned device to put more appraisers out of business quickly and permanently if this is widely used/accepted. I'm assuming the valuation part would be done with AI at the push of a button. Appraiser would do the eyes-on part. What would a reasonable fee be to the appraiser doing the eyes-on part? What does the Forum think?

Most pay $150 to $200 and seem to have no problems finding people to do them so thats is what C & R is now for that product . What you want is kinda irrelevant as long as they have no issues filling the orders.

 

[Johnny X]

PDR (Property Data Report) requires measurement, sketch with interior walls, inspection and photos of interior, checklists, no appraised value. Designed to make appraisals cheaper for use with appraisal waivers. I've heard today of one done for $150 to appraiser. AMC fee probably got another $150. Sounds like it is a fairly new product that lenders are trying out to see appraiser acceptance/response. Seems to be a government sanctioned device to put more appraisers out of business quickly and permanently if this is widely used/accepted. I'm assuming the valuation part would be done with AI at the push of a button. Appraiser would do the eyes-on part. What would a reasonable fee be to the appraiser doing the eyes-on part? What does the Forum think?

Sounds like Trans Human... AI+Sapien.
Measure interior walls sounds like too much work for too little money. Inspection time would last an hour plus travel time. I'd rather write 2 reports and make 450x2= 900 than150x5=750.

 

[chad hampton]

You dont collect data at a property, you are performing an appraisal and acting as an appraiser.

 

[Elliott]

https://sf.freddiemac.com/docs/pdf/report/pdr-dataset-sample.pdf?_gl=1*19w8bqd*_ga*NTU2MjgzNzMxLjE2ODk0NzM3Njc.*_ga_W1VD6NP75S*MTY4OTQ3Mzc2Ny4xLjEuMTY4OTQ3Mzc2Ny4wLjAuMA..

Awful lot of data and inspection time for too little money.

 

[OSU Beavers]

 

[Sandra Koutsopoulos]

"Measure interior walls sounds like too much work for too little money."
I suspect the measurement is similar to interior space as with Condos with walls drawn in for reference only. Too much liability to do interior measurements per room in case somebody might take that as gospel and complain measurement was .2" off so their floor material didn't fit or some stupidity.

"Awful lot of data and inspection time for too little money."
I agree absolutely, Elliott.

 

[Zoe]

The AI part is where many people are going to get sued and sanctioned...etc. The AI will be worse than Zillow on valuation in many many cases. Not all cases but many many cases.

 

[Zoe]

Many appraisers that are involved will be nailed to the wall. Wait til next downturn. Many of those appraisers that will get nailed work for AMCs, GSEs.

 

[Zoe]

NAR may have some members that get nailed too. In TN, NAR members get nailed constantly. Just wait til next downturn.