Welcome to the new 1004

[Mike Ault]

Presumably they can "print" several different report layouts from the data the appraiser submits.

Handy for supporting "bias narratives"..

 

[jay trotta]

Presumably they can "print" several different report layouts from the data the appraiser submits.

All they need is your assistance to gather data. IMO-you are now working for F&F, with no benefits, paid holiday, health insurance, and all related costs are still on you. Now that's appraisal Modernization.

 

[Tiffany Gibbons]

Overkill I think. More data doesn’t mean better results. More accurate data for location, view, condition, and quality is what is needed. IMO

Do they have more spaces for acreage adjustments, inground pools, or outbuildings?

 

[Tiffany Gibbons]

My guess is that this disappeared because many users don't understand the difference between neighborhood and market, and it's more clear (in their eyes) to just stick to 'market' instead of trying to include both.

Like some people said, designed by "appraisers"who haven't done an appraisal in 20 years and software companies that think anyone can do an appraisal so they'll sell more higher priced software to everyone including companies in India

 

[Surf Cat]

For anyone interested - here's one of the samples DW mentioned in a prior post.

I just had a look at this. I was curious on how the cost to cure areas were going to look and they weren't in this sample. I guess if you state "none" for wear and tear, the grid for cost to cure items does not come up.

The sales comparison grid being on separate pages is a mess...so much easier to view it on one page.

"Typical wear and tear" You mean Average?

"Most emphasis is placed on comparables 4 and 5, which although located further away are still within the subject’s market area." That appears to be a subliminal message right there....make everybody equal.

"Most emphasis is placed on the sales comparison approach to value due to an active resale market." Dang.... I've been working way too hard on my reconciliation if that flies.

The comparables provided from the borrower-initiated ROV were reviewed and considered. Two sales were deemed reliable and put in the sales grid, which increased the Indicated Value by Sales Comparison Approach. One was deemed less reliable and added to Additional Properties Analyzed Not Used. 03/15/2024 Reconsideration of Value Reconciliation Due to the increase in Indicated Value by Sales Comparison Approach, the Opinion of Value changed.

Here we go.....the reason for the first subliminal message LOL

Use the sales further away, make the value.

 

[Surf Cat]

The report looks very plain, simple and somewhat elementary to me.

Looks like it was designed for an Apple iPad.

 

[Mike Ault]

Do they have more spaces for acreage adjustments, inground pools, or outbuildings?

Lots of spaces, here's one of the site sections

And one of the outbuilding sections…

 

[Surf Cat]

Do they have more spaces for acreage adjustments, inground pools, or outbuildings?

Stop..... they're missing cocktail hour at 15th Street.

 

[Tiffany Gibbons]

So much for the unethical stakeholders wanting same-day delivery of the report! Look at this mess— the appraiser is going to need a sleeping bag and a lifetime supply of coffee just to survive a 24-hour inspection! Alone! I mean, who knew a simple report could turn into a solo camping trip?

And don't forget, we're supposed to call each agent on every sale to get the division of sales concessions, and make sure buyers agent fees are not included since realtors lump it in or its not disclosed at all. That's sure going to speed things up, right? I've been trying all day to get in a vacant house, that I have a key code to but need "permission".

 

[George Hatch]

It's a lot more work in certain areas. But to be fair I think their guidelines have always included requirements for personal verification, financing concessions, supporting adjustments and such. Only the enforcement has been inconsistent.