What condition rating

[Tom D]

Maybe it's a c4 for the neighborhood. If your consistent with the comps, your call.
The old days were better:
older
semi-mod
mod
newer
new

 

[alebrewer]

LOL. I did not say that at all. I just said that the condition rating is based on the entire home, not just the kitchen.

As far as I know, appraisers have been assigning condition ratings based on third party data in almost every appraisal report they have done since the UAD was introduced. I mean, how many of the comps have they rated based on personal viewing? A few, but that is the exception.

I'm one of the folks who are happy to assign a condition rating based on the owner's opinion - sight unseen - so long as I'm covered by my reps and warrants.

Just seemed like you were making a case against the use of hybrids - which I know would not have been in line with your stated agenda.

 

[Shawangunk RE]

I would consider it a C3. It looks to be very well maintained with no deferred maintenance noticeable. Quality is a Q4.

 

[DWiley]

Just seemed like you were making a case against the use of hybrids - which I know would not have been in line with your stated agenda.

The only "case" I was making is that the condition ratings apply to an entire property, not a component (like the kitchen). And that is not really a "case" its just a statement of how the condition ratings in UAD actually work.

 

[Surf Cat]

The only indication I can get from the limited info provided is that the home is not a C1 or C2. As I said, that kitchen might be in a C3, C4, C5 or C6. No way to be more specific without more info

Quit dancing.....yes, we know the rating is based on the entire home. For the purpose of this thread, what is "your opinion" of the condition rating of the kitchen, and only the kitchen?

Let's eliminate C5 and C6 too. You're already of the opinion it's not a C1 or C2. So, that leaves us with a C3 or C4....

You've also already stated that we've been doing this a long time based on third-party data. So, this is not your first rodeo....C3 OR C4 and why, based on the expanded ratings.

Choose..... and hurry up.... or your tier rating is going to drop.

 

[DWiley]

Quit dancing.....yes, we know the rating is based on the entire home. For the purpose of this thread, what is "your opinion" of the condition rating of the kitchen, and only the kitchen?

There is no such thing as a UAD condition rating for the kitchen. The condition rating is for the whole house, not components. There is no such thing as C3 kitchen or a C4 kitchen.

 

[alebrewer]

There is no such thing as C3 kitchen or a C4 kitchen.

Of course there is. Those definitions are objective and not relative. As such, they could be applied to pretty much any component I'd think.

To wit:

The kitchen is well-maintained and features limited physical depreciation due to normal wear and tear. Some components, but not every major component, may be updated or recently rehabilitated. The kitchen has been well-maintained.

 

[Surf Cat]

There is no such thing as a UAD condition rating for the kitchen. The condition rating is for the whole house, not components. There is no such thing as C3 kitchen or a C4 kitchen.

Man, you must be walking on eggshells over there at Freddie Mac. Monitoring your computer activity....

 

[CGinMN]

The condition rating is for the whole house, not components. There is no such thing as C3 kitchen or a C4 kitchen.

This is no longer true, as you know. On the new forms the condition rating is broken out for interior and exterior. Besides, even if a comp only has 1 photo of the interior, and it's of the kitchen, it still needs a rating. So what is it?
-C3: A remodeled kitchen, or
-C4: A dated but fully functional kitchen?

 

[DWiley]

Of course there is. Those definitions are objective and not relative. As such, they could be applied to pretty much any component I'd think.

https://sf.freddiemac.com/faqs/uad-FAQ

"The Q and C ratings only apply to the overall condition and quality of the subject property. "