Welcome to the new 1004

[Tiffany Gibbons]

Lots of spaces, here's one of the site sections
View attachment 91467
And one of the outbuilding sections…
View attachment 91468

What about the sales grid? That's my issue, no space. The ones I do would actually be better suited to a regular narrative.

 

[Mike Ault]

What about the sales grid? That's my issue, no space. The ones I do would actually be better suited to a regular narrative.

Those are the sales grid, I was just "screenshotting" portions of them…

 

[Surf Cat]

What about the sales grid? That's my issue, no space. The ones I do would actually be better suited to a regular narrative.

From what I gather, the form "evolves" as your inputting data. From the sample that alebrewer posted, there were no deficiencies and or deferred maintenance thus, you did not get the cost to cure section that was on the blank form in the op.

This is a bummer in that with the regular 1004, I was able to make templates for different clients. For example, a hard money client didn't want a contents page. They just wanted a large photo with the summary of the value, the effective date and the course the client name. Right after that, the 1004. They also wanted "lots" of photos.

We'll have to see but, it appears we're losing that freedom of customizing the order of all the contents within the appraisal report.

 

[George Hatch]

What about the sales grid? That's my issue, no space. The ones I do would actually be better suited to a regular narrative.

I think they could reformat those grids to fit on a single page if they wanted to use that density. In my SC grids (letter sized pages) I already cover almost all of those fields, I just don't use (for example) 8 lines of page space for interior/exterior quality/condition when I can stuff those ratings into 2 lines. The only 3 lines I don't cover are "contract date", "attached/detached", "comparable weight", and I don't include a thumbnail pic in the grid. I think I could if I wanted to, though; I'd just have to move my reconciliation to a separate page.

These are legal sized pages. The existing GSE forms runs ~80 lines/page with a line height of about 17pts My letter sized format runs ~50 lines/page with 21pt line heights. I think they could condense the grids +thumbnails on a single page of maybe 70 lines/page if they wanted to.

 

[Mike Ault]

From what I gather, the form "evolves" as your inputting data. From the sample that alebrewer posted, there were no deficiencies and or deferred maintenance thus, you did not get the cost to cure section that was on the blank form in the op.

This is a bummer in that with the regular 1004, I was able to make templates for different clients. For example, a hard money client didn't want a contents page. They just wanted a large photo with the summary of the value, the effective date and the course the client name. Right after that, the 1004. They also wanted "lots" of photos.

We'll have to see but, it appears we're losing that freedom of customizing the order of all the contents within the appraisal report.

It seems to me that they have learned from the "AI ready format" debacle and at least are making a good-faith effort to keep the report comprehensible to the average reader. We may have to keep (gasp) "boilerplate" handy for every conceivable flag which might trigger additional reporting requirements, however, given the fact that they're obviously planning to PAY US SUBSTANTIALLY MORE for completing these, I can live with that.

 

[George Hatch]

From what I gather, the form "evolves" as your inputting data. From the sample that alebrewer posted, there were no deficiencies and or deferred maintenance thus, you did not get the cost to cure section that was on the blank form in the op.

This is a bummer in that with the regular 1004, I was able to make templates for different clients. For example, a hard money client didn't want a contents page. They just wanted a large photo with the summary of the value, the effective date and the course the client name. Right after that, the 1004. They also wanted "lots" of photos.

We'll have to see but, it appears we're losing that freedom of customizing the order of all the contents within the appraisal report.

Your formsware vendors won't be dropping all their other forms. I'm sure you'll still be able to customize for non-GSE clients. The more I think about it the more I lean toward appraisers needing to work off of tablets and enter data directly into the UAD file as they inspect. Having to manually transpose this much data from handwritten field notes into the UAD file is going to be prohibitive.

 

[Surf Cat]

Your formsware vendors won't be dropping all their other forms. I'm sure you'll still be able to customize for non-GSE clients. The more I think about it the more I lean toward appraisers needing to work off of tablets and enter data directly into the UAD file as they inspect. Having to manually transpose this much data from handwritten field notes into the UAD file is going to be prohibitive.

One drop of the tablet and there goes all your work. I also don't use my phone to take photos of the subject and comps. I have a point and shoot CyberShot.

I use Spark so when I get back to the office from the field, I eliminate a couple sales that weren't truly competitive to the subject after curbside inspection and blow the rest into the 1004. My field notes have been a tried and true method for over two decades. You can't note the little intricacies from poking a tablet as you can taking in notes imo. Once I'm done with the report, I scan them into my work file.

The devil's in the details... that's why I don't like the PDC deal. Don't get me wrong, I like technology. If Cubi Casa was proven to be accurate for measurements, I'd use it instead of getting my khakis dirty by scooting by a rusty bike or lawn mower.

My main concern is not the new form or embracing the changes in appraising. It's being compensated fairly for my work product that's the issue.

 

[Digger88]

looks good cant wait to try it out interesting to see how spark will work with this.

 

[Zoe]

JG should appreciate the fee being broken out between appraiser and AMC...

Will that force lenders to disclose it on truth in lending disclosures? What page is that on?

How the hell is the appraiser going to get that data?

 

[Zoe]

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.

yeah, you should realize how diverse some markets are, but they tend to go up and down together related to market trends. Many people work cookie cutterville. Most of Tennessee is not cookie cutterville.