Purposely Mis-reporting Form Requirements ?

[Fernando]

Whole neighborhood. Trends is subject's sub market. Which in my market usually mirrors the complete neighborhood

But one section specifically says COMPARABLES, not sales.

 

[Dublin ohio]

Of course, you're a follower and don't question authorities.

yes, I follow the rules and regs as stated. I don't inject my own interpretations or fever dreams

 

[Dublin ohio]

But one section specifically says COMPARABLES, not sales.

Which section would that be?

 

[Dublin ohio]

You two should get a room

 

[Fernando]

Which section would that be?

Page 2 of main report. Reviewers look at that and 1004MC.
They think the figures should correspond.
If not enough comps to do a price trend in1004MC, a larger SALES data is needed to get sufficient data to do a statistical analysis.

 

[Fernando]

You two should get a room

Thank you for your usual helpful suggestions.

 

[sputnam]

The page one neighborhod section is about the neighborhood. Not just about properties that are comparable to your subject.

 

[Surf Cat]

However, I can't ever bring myself to populate the 1004 page 1 "One Unit Housing" section with data that pertains to Competing properties rather than overall "Neighborhood" data, which logically defines "Neighborhood."

Price n age

Don't you download a year or two of data to discern the market trends from the MLS? You can use this data by clicking on top of the each cell and arrange from high to low or low to high of year built, date of sale, price, etc to fill out your trends.

Furthermore, in the neighborhood description, you tell the story. "The neighborhood consists of 20th century 1 and 2 story dwellings of average to good quality construction with multi-family units along major thoroughfares. There is evidence of modernization and some razing of older, smaller units, with new construction as allowed by zoning".

Something like that, that's just off the top of my head.

But one section specifically says COMPARABLES, not sales.

Dude....OP stated "page 1", price and age.

 

[Fernando]

Don't you download a year or two of data to discern the market trends from the MLS? You can use this data by clicking on top of the each cell and arrange from high to low or low to high of year built, date of sale, price, etc to fill out your trends.

Furthermore, in the neighborhood description, you tell the story. "The neighborhood consists of 20th century 1 and 2 story dwellings of average to good quality construction with multi-family units along major thoroughfares. There is evidence of modernization and some razing of older, smaller units, with new construction as allowed by zoning".

Something like that, that's just off the top of my head.

Dude....OP stated "page 1", price and age.

Page 1 defines the neighborhood price range.
Page 2 ask for comparables.
1004MC can go either way and reviewers get confuse how to look at it to the main report.

 

[Surf Cat]

Page 1 defines the neighborhood price range.
Page 2 ask for comparables.
1004MC can go either way and reviewers get confuse how to look at it to the main report.

The 1004MC form has been eliminated as a requirement by Fannie Mae. Although lots of our peers still use it. The requirement for appraisers to analyze and report on market conditions remains.

This analysis must be supported within the Neighborhood section of the appraisal report (page 1) which the OP was referring to.

You went off into the weeds with the comparables and the MC....that's all I was saying.