• Welcome to AppraisersForum.com, the premier online community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

UAD/UMDP And Forms Update

Status
Not open for further replies.
NC Appraising said:
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:
Click to expand...
Yep, FNMA doesn't want accuracy, they want conformity.
 
shrubberyvaluation said:
Yep, FNMA doesn't want accuracy, they want conformity.
Click to expand...


On this one, I disagree. Appraisers are at fault on this one.... I still see some use 2-story....

Instead of making appraisers take meaningless (for the most part, there are some good CE), we should be required to take GSE and FHA CE every year. Proof is in the PUDDING.

UAD:
Design (Style) The appraiser should enter an appropriate architectural design (style) type descriptor that best describes the subject property. Valid descriptions include, but are not limited to, ‘Colonial,’ ‘Rambler,’ ‘Georgian,’ ‘Farmhouse’. Do not use descriptors such as ‘brick,’ ‘2 stories,’ ‘average,’ ‘conventional,’ or ‘typical’ as these are not architectural styles. Design style names may vary by locality. The appraiser should report the name of the design style that is applicable within the local market area. Reporting Format: Design (Style) – Text
 
NC Appraising said:
On this one, I disagree. Appraisers are at fault on this one.... I still see some use 2-story....

Instead of making appraisers take meaningless (for the most part, there are some good CE), we should be required to take GSE and FHA CE every year. Proof is in the PUDDING.

UAD:
Design (Style) The appraiser should enter an appropriate architectural design (style) type descriptor that best describes the subject property. Valid descriptions include, but are not limited to, ‘Colonial,’ ‘Rambler,’ ‘Georgian,’ ‘Farmhouse’. Do not use descriptors such as ‘brick,’ ‘2 stories,’ ‘average,’ ‘conventional,’ or ‘typical’ as these are not architectural styles. Design style names may vary by locality. The appraiser should report the name of the design style that is applicable within the local market area. Reporting Format: Design (Style) – Text
Click to expand...
The last two sentences are significant, and generally ignored/discouraged/prevented because the softwares employed to replace humans cannot be economically programmed to accommodate variability between markets. The result will be scrubbing local customs to facilitate the process, not the truth. The question is, if it doesn't matter (it must not if local reality is being dismissed), why is anyone worrying about it? Useless data should not be collected.
 
chad hampton said:
Does style or type affect value? In my market GLA is everything. Style is more personal preference and adjustments aren’t typical.
Click to expand...
I find the same, except in rare instances. I usually check, since some argue it matters, but rarely find any evidence that it does.
 
chad hampton said:
Does style or type affect value? In my market GLA is everything. Style is more personal preference and adjustments aren’t typical.
Click to expand...
They do in some markets. Tract homes, not so much. My point is that it proves some appraisers are just lazy form filling a holes that cannot follow directions.

The main reason that the design is not really an issue is that most comps are located in a said subdivision with similar designs and year built.

When i have noticed a price difference is when a newer home is built and is a colonial and other homes are french country, new american, farm house, etc. The colonial is not much in demand. Its outdated. Very few are building colonials in the higher end homes. Modern farmhouse is in style at the moment.

You're in my market, I would say the floor plan and layout is king. The only issue is that it is the hardest thing to adjust and then trying to explain the adjustment.

Go and speak to a on-site builders agent. They always have desirable and undesirable models/floor plans.
 

Housing affordability hits another low: report​


they cannot even keep to their mission...and after a 200 billion bailout they are smart enough to regulate you...suckers
 
If the new UAD report is cloud based and "owned" by FNMA/Freddie why should it not be free to use on Appraisal Reports intended for loans sold to them.

I don't think institutions that sell them loans have to pay for the proprierty documents/forms they use.

I may be wrong on that, but don't think so.
 
NC Appraising said:
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.
Click to expand...
I saw an appraisal that had the subject and all comps as Q1. The comps were all in the 500k to 600k range in sales price. I do like it because it throws off their data collection when others do it like that.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com
Back
Top