Welcome to the new 1004

[Mike Ault]

Maybe for when the data collection apps are used.

I was hoping so until I saw that it was on the sales comparison grid as well. Maybe they will "sell us that data" for the comparables…

 

[CGinMN]

Or maybe they will require that we use lidar scanners?

 

[Mike Ault]

Or maybe they will require that we use lidar scanners?

I'm still waiting for my lidar equipped drone. That would be true "appraisal modernization".

 

[CGinMN]

That’s URAR 4.0

 

[George Hatch]

One other thing that might occur is that when the GSEs go with this level of SR1 analysis and SR2 detail in their reports the market expectations for non-GSE assignments might also increase to match. I might have to ramp up my own formats even though I don't engage in the GSE pipelines. And not just my 1-4 formats.

How would you like to do a non-GSE assignment on a general purpose form and get called substandard when compared to another appraiser who has used this level of data collection in their assignment?

 

[CGinMN]

Brevity is the soul of wit.

 

[chad hampton]

Appraisers as a group are generally open to change and roll with things pretty well. Better than most professions. Not sure there's been a profession with more change in the last 20 years than this one, and we adapt. So most of us will figure it out. I expect most of the problems coming from the computers and upload systems than I do the appraisers.

 

[Mike Ault]

How would you like to do a non-GSE assignment on a general purpose form and get called substandard when compared to another appraiser who has used this level of data collection in their assignment?

I would be eager to see the opposing appraiser demonstrate how they arrived at their adjustments for "window surface area".

 

[DWiley]

Appraisers as a group are generally open to change and roll with things pretty well. Better than most professions. Not sure there's been a profession with more change in the last 20 years than this one, and we adapt. So most of us will figure it out. I expect most of the problems coming from the computers and upload systems than I do the appraisers.

I fear that some will start their first report in the new UAD, and copy and paste their "standard text addendum" into the new UAD.

A report completed in the new UAD should not have a text addendum, because there are are ample comments fields in every section. Putting the text in the relevant section of the report rather than all together in an addendum is a pretty major shift (for many/most?) from how things have been done for the last 30+ years.

If nothing else, having the comments in the relevant section should eliminate the revision requests that occur now when a report has text but a reviewer or UW cannot find that text in a long addendum.

 

[George Hatch]

I would be eager to see the opposing appraiser demonstrate how they arrived at their adjustments for "window surface area".

How are appraisers going to be able to collect some of this data for their comps? If I can't collect that info for my comps there's no point in including that line in my SC grid.