UAD/UMDP And Forms Update

[CGinMN]

Looks like they're expanding the UAD to 2-4 units.

 

[The Bob]

I like that they clarify "as is" condition and "subject to" condition.
I also like they want the list price noted. I've been noting "Original or highest list price" since early 2000's

 

[Non Sequitur]

I also like they want the list price noted. I've been noting "Original or highest list price" since early 2000's

I expect they will require much more when it finally rolls out. On their REO/Default side, comp list price along with DOM and CDOM have been required for years, and flood zone too.

 

[Carnivore]

Guidelines are just what the meaning is of guidelines. IOW they are not rules. Another way to put it is that Guidelines when exceeded require some form of explanation. This is consistent with the intended Use of a typical Lending type appraisal. We assist the lender in their Risk Analysis. Other metrics they use are Credit, job stability, income, etc I am not telling you anything you don't already know.

 

[Carnivore]

My State Board is tightening up... Skippidy Do Dah Appraising is over.

http://www.ncappraisalboard.org/disciplinary/Disciplinary%20Action%20Summary.pdf

 

[NC Appraising]

As long as they do not get rid of "screens" in the improvement section....

rolling eyes....

How about rail road tracks in the location section of the grid or flood zone?

How about a topography section in the grid?

Please more Qs and Cs with better definitions.....my gosh appraisers in my market thinks that tract built homes are Q3 quality....and everything is transitional or traditional (they just copy what the MLS has it as).

Rant over.

 

[Carnivore]

I get your point about traditional & transitional. In fairness to many appraisers. Have you recently looked at ow many House Designs there are?

I swear they are coming up with more as I type this post

20 Popular Types Of Houses And Home Styles

We rounded up the most common types of houses and provided their key features, pros, cons and photos so you can find the home style that best fits you.

www.rocketmortgage.com

 

[NC Appraising]

I get your point about traditional & transitional. In fairness to many appraisers. Have you recently looked at ow many House Designs there are?

I swear they are coming up with more as I type this post

20 Popular Types Of Houses And Home Styles

We rounded up the most common types of houses and provided their key features, pros, cons and photos so you can find the home style that best fits you.

www.rocketmortgage.com

Yeah, when it comes to new tract homes/starter houses, traditional will suffice I guess for the most part.

What gets me boiling is when appraisers use traditional or transitional for homes in Myers Park or Dilworth or Historic Districts. Or even in older subdivisions with Georgian or Colonials....not rocket science.

I can only assume that the appraisers are just lazy or are trying to make their score better with Fannie, as all of the other appraisers are using traditional.


I have the Big Book of designer house plans. https://www.thriftbooks.com/w/the-b...vK0aArl7EALw_wcB#idiq=6300812&edition=3311240

Good reference:

https://www.charlottenc.gov/files/sharedassets/city/growth-and-development/planning-and-zoning/documents/hdcdesignstandards.pdf

 

[Carnivore]

Yeah, when it comes to new tract homes/starter houses, traditional will suffice I guess for the most part.

What gets me boiling is when appraisers use traditional or transitional for homes in Myers Park or Dilworth or Historic Districts. Or even in older subdivisions with Georgian or Colonials....not rocket science.

I can only assume that the appraisers are just lazy or are trying to make their score better with Fannie, as all of the other appraisers are using traditional.


I have the Big Book of designer house plans. https://www.thriftbooks.com/w/the-big-book-of-designer-home-plans-500--homes-in-full-color-1200-to-6000-square-feet/643811/item/6300812/?utm_source=google&utm_medium=cpc&utm_campaign=pmax_high_vol_frontlist_$10_$50&utm_adgroup=&utm_term=&utm_content=&gclid=Cj0KCQjw1_SkBhDwARIsANbGpFslMgzJufYkGxJ8leWDLaegCoiGpBBSqpfbPcUBFr0ocwykG_6JvK0aArl7EALw_wcB#idiq=6300812&edition=3311240

Good reference:

https://www.charlottenc.gov/files/sharedassets/city/growth-and-development/planning-and-zoning/documents/hdcdesignstandards.pdf

yep, you and I think alike. I have them both. Dilworth is an interesting Historic District

I know you know this but at one time once you crossed South Blvd going west from Dilworth east Blvd it changed to West blvd there was a change in market segment. The area is called Wilmore. At one time The City of Charlotte was giving $10,000 to Police Officers to use towards purchasing a home in Wilmore and they were also to Drive their Patrol cars home after shift. Due to Revitalization Wilmore is now fairly expensive and the 10K incentive is no more.

 

[shrubberyvaluation]

Pretty Cool. It's not just designed for Boots on the ground Appraisers but also for the human Intended/unintended users of the report. It won't be long before non-human readers will be able to digest and analyze (content) in minute detail.

Is this another step towards eliminating boots on the appraisers? Nope, not even with Artificial Intelligence. Real Property is not static. Quite the contrary it can and is very dynamic.

Looks extensive, gonna guess data collectors will have to collect a lot less data and will be made even more "affordable."