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This is a pretty niffty detailed chart for finding time adjustments, we are done.

Our November 2024 Selling Guide announcement states “Include an illustration of the methodology used to determine specific comparable sale time adjustments for changes in market conditions.” Since then, we have received several questions as to whether this means appraisers need to include the illustration in their appraisal reports. The answer is no; appraisers are not required to put such a chart in their reports. What we intended to convey is that we have included a link to the illustration in the Selling Guide as a learning aid to provide guidance to lenders and appraisers about how to make time adjustments.

Look for a deeper dive on market condition adjustments in our next newsletter.
 
Our November 2024 Selling Guide announcement states “Include an illustration of the methodology used to determine specific comparable sale time adjustments for changes in market conditions.” Since then, we have received several questions as to whether this means appraisers need to include the illustration in their appraisal reports. The answer is no; appraisers are not required to put such a chart in their reports. What we intended to convey is that we have included a link to the illustration in the Selling Guide as a learning aid to provide guidance to lenders and appraisers about how to make time adjustments.

Look for a deeper dive on market condition adjustments in our next newsletter.
Thanks for the link.

Bottom line ladies and gents, in the near future our reports will look more like AVMs than what we are comfortable with. Minutia will be adjusted for as opposed to small differences being accounted for in a reconciliation. Think I'm crazy? They aren't asking for front door elevation, high speed internet access, comps considered but not used, etc. because they don't think the data points are value drivers.
 
In times like these, the larger houses are simply not selling here. Prices are not changing as much as volume is.
Would you see the drop in volume as a leading indicator for an eventual delta in median/mean price? Theoretically, that would make sense, right? If demand wanes, eventually there will be a new price equilibrium, right?
 
Would you see the drop in volume as a leading indicator for an eventual delta in median/mean price? Theoretically, that would make sense, right? If demand wanes, eventually there will be a new price equilibrium, right?
Not if they're waived! :p
 
Not if they're waived! :p
Or, there's a bunch of seller concessions that go unreported. Not sure how AVMs and waivers deal with that concept in nondisclosure states. "Poorly", I suspect.
 
Or, there's a bunch of seller concessions that go unreported. Not sure how AVMs and waivers deal with that concept in nondisclosure states. "Poorly", I suspect.
Not 100% sure, but I don't think concessions get reported on deeds or liens, so my guess is that - even in disclosure states - the AVM providers aren't getting concessions $. Not sure how much that data point would affect the model(s), but pretty sure they're not capturing it.
 
Not 100% sure, but I don't think concessions get reported on deeds or liens, so my guess is that - even in disclosure states - the AVM providers aren't getting concessions $. Not sure how much that data point would affect the model(s), but pretty sure they're not capturing it.
In theory, they're getting all that information from originations and not from the MLS or public records. So the GSE AVMs might have a leg up on everyone else's.
 
In theory, they're getting all that information from originations and not from the MLS or public records. So the GSE AVMs might have a leg up on everyone else's.
Yes - the GSE's get the loan file, which has the concessions. Public AVM providers (Zillow, Redfin, etc.) don't have the loan file or MLS, and concessions aren't reported in public records.
 
Yes - the GSE's get the loan file, which has the concessions. Public AVM providers (Zillow, Redfin, etc.) don't have the loan file or MLS, and concessions aren't reported in public records.
They "think" they're getting the real loan file, anyway. In reality, double contracting is alive and well and without "boots on the ground appraisers" to keep everyone honest, it will be the same as taking the cop off the beat. "Anarchy" will reign soon enough.
 
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