UAD 3.6 discussion

[Fernando]

This is odd. Fernando was a trainee in 2017, according to his license. Trainees don't get to handle business or commercial valuations.

I wasn't a trainee in 2017.
I had among best years during the Great Recession appraising.

 

[Michael Pecora]

"The appraiser must measure the vertical height from adjacent ground or street grade to the front entrance threshold, recording this dimension to the nearest tenth of a foot.
“Documentation must include photographs or sketches illustrating any exterior steps, porches, or walkways leading from the street grade to the front entrance.”
“The presence and materials of walkways or driveways connecting the street to the entrance (such as concrete, blacktop, pavers, or bricks) must be noted in the appraisal report.”
“Stairs or steps providing access to the front entrance must be documented and their impact considered in site condition assessment.”

This will all be wonderful once there's 2 or 3 feet of snow on the ground

 

[Sadie]

"The appraiser must measure the vertical height from adjacent ground or street grade to the front entrance threshold, recording this dimension to the nearest tenth of a foot.
“Documentation must include photographs or sketches illustrating any exterior steps, porches, or walkways leading from the street grade to the front entrance.”
“The presence and materials of walkways or driveways connecting the street to the entrance (such as concrete, blacktop, pavers, or bricks) must be noted in the appraisal report.”
“Stairs or steps providing access to the front entrance must be documented and their impact considered in site condition assessment.”

This will all be wonderful once there's 2 or 3 feet of snow on the ground

And for the cliff houses that are accessed via bridge. Make the reviewers head explode. I think I heard someone say that this might not make it to the final roll out. I do know that this is a prime consideration in my market area, distance from grade that is.

 

[Non Sequitur]

"The appraiser must measure the vertical height from adjacent ground or street grade to the front entrance threshold, recording this dimension to the nearest tenth of a foot.
“Documentation must include photographs or sketches illustrating any exterior steps, porches, or walkways leading from the street grade to the front entrance.”
“The presence and materials of walkways or driveways connecting the street to the entrance (such as concrete, blacktop, pavers, or bricks) must be noted in the appraisal report.”
“Stairs or steps providing access to the front entrance must be documented and their impact considered in site condition assessment.”

This will all be wonderful once there's 2 or 3 feet of snow on the ground

Don't forget the Site/Waterfront reporting that includes:
* Access rights (by permit, deeded, privately owned, etc.)
* Right to build
* Total linear measurement
* ACCESS DEPTH (such as deep water, non-navigable, or shallow water)

And Disaster Mitigation Features like Flood Vents, Impact Resistant Glass, Storm Shutters, etc.

There's more, lots more.

Read it and weep:

https://singlefamily.fanniemae.com/media/43946/display

 

[Sadie]

Don't forget the Site/Waterfront reporting that includes:
* Access rights (by permit, deeded, privately owned, etc.)
* Right to build
* Total linear measurement
* ACCESS DEPTH (such as deep water, non-navigable, or shallow water)

And Disaster Mitigation Features like Flood Vents, Impact Resistant Glass, Storm Shutters, etc.

There's more, lots more.

Read it and weep:

https://singlefamily.fanniemae.com/media/43946/display

I know DWiley keeps saying that appraisers were involved in this process, but with what I have seen, I highly doubt that they are a) residential or b) had ever made a living as a resdential appraiser.

 

[Steelers74]

The more I see, the more it becomes clear my time would be better spent looking for something else to do to get me to retirement rather than trying to keep up with all the bs they are putting into this new form not a form.

 

[Surf Cat]

Don't forget the Site/Waterfront reporting that includes:
* Access rights (by permit, deeded, privately owned, etc.)
* Right to build
* Total linear measurement
* ACCESS DEPTH (such as deep water, non-navigable, or shallow water)

And Disaster Mitigation Features like Flood Vents, Impact Resistant Glass, Storm Shutters, etc.

There's more, lots more.

Read it and weep:

https://singlefamily.fanniemae.com/media/43946/display

Get out the scuba gear appraisers!

 

[DWiley]

I know DWiley keeps saying that appraisers were involved in this process, but with what I have seen, I highly doubt that they are a) residential or b) had ever made a living as a resdential appraiser.

Really? When I appraised waterfront properties all those data points listed were important considerations. Which do you think are extraneous?
I see that you bolded access depth. You don't think that is important (a relevant characteristic) to someone buying a waterfront property with the intention of having a boat?

 

[Fernando]

Really? When I appraised waterfront properties all those data points listed were important considerations. Which do you think are extraneous?
I see that you bolded access depth. You don't think that is important (a relevant characteristic) to someone buying a waterfront property with the intention of having a boat?

No, I'm more worried if the water is polluted.

 

[Sadie]

Really? When I appraised waterfront properties all those data points listed were important considerations. Which do you think are extraneous?
I see that you bolded access depth. You don't think that is important (a relevant characteristic) to someone buying a waterfront property with the intention of having a boat?

I didn't bold it, Surf Cat did. It is making the report more complex than is necessary. How much frontage varies on the time of year for some properties. How deep is deep? again that varies on time of year. It has been my experience that appraisers who appraise waterfront property already address these issues in the report since many times much of the value is in what type of watercraft, if any can be launched from the subject property. Same for the ability to build a dock/boathouse. But this is the least of the issues I have with the new form, not a form.