What condition rating

[TerryRohrer]

I understand where you are coming from and do not necessarily disagree with you. The gses just screwed it up.

Show me where in the uad it says we cannot use c4 on individual components.

Show me where in the uad or guidelines on what we should use....uad....uniform...

Think about it....condition rating.

Exhibit 1: Requirements – Condition and Quality Ratings Usage
Appraisers must utilize the following standardized condition and quality ratings within the appraisal report.

BUT....we are not allowed to use c's in the actual condition section of the report? OK.

That's the problem. They totally left that blank in the UAD. No instructions.

I could have used tile/pos. Piece of shet.

The guys at fannie mae said to do it this way.....maybe you should ask them.

The FNMA selling guide specifically prohibits that use of UAD ratings. So, there is that. The ramblings of a GSE employee do not override the selling guide.

 

[chad hampton]

The GSE’s have been using that same old worn line of bull**** about comparable sales not being inspected and still determining condition rating. What they forget is we have a confirmed sale price that goes along with each comparable property. So if a home sold for a high price and the photos looked decent, it’s reasonable to assume a C3. Take away that sale price and you are flying blind.

But don’t expect any of them to come here and acknowledge their mistake. All the scams they’ve been pushing on this profession over the last decade are based on that nonsensical premise.

 

[Fernando]

Same bureaucracy and control as government in how we deal with our properties.
GSE telling us how to appraise thinking they know better.
Real appraisers follow their GSE guidelines and crap but continue how they normally appraise before USPAP.

 

[Dublin ohio]

Real appraisers follow their GSE guidelines and crap but continue how they normally appraise before USPAP.

I highly doubt their are many appraisers appraising the same way as was done 37 years ago

 

[glenn walker]

The GSE’s have been using that same old worn line of bull**** about comparable sales not being inspected and still determining condition rating. What they forget is we have a confirmed sale price that goes along with each comparable property. So if a home sold for a high price and the photos looked decent, it’s reasonable to assume a C3. Take away that sale price and you are flying blind.

But don’t expect any of them to come here and acknowledge their mistake. All the scams they’ve been pushing on this profession over the last decade are based on that nonsensical premise.

But you continue on while having to work three side gigs and sending a wife to work. Are we missing something here ? Can't a person just do one job good.

 

[Fernando]

I highly doubt their are many appraisers appraising the same way as was done 37 years ago

Process in appraising still the same. Now real appraisers have to go through the obstacles placed upon them (GSEs and USPAP).

 

[Surf Cat]

But you continue on while having to work three side gigs and sending a wife to work. Are we missing something here ? Can't a person just do one job good.

No......we're old, impatient, and pissed off. Get off my lawn!

 

[Surf Cat]

Yes, per the handbooks, that is correct. My point was that the definition itself can be applied to an individual component just as easily as it can be applied to the overall condition. Taking that position does, however, allow you to avoid Surf's question. I get it.

DOG PILE ON DW! Lol

 

[Surf Cat]

I'll bet you DW is thinking "Geez....I wish the gse's would pull the plug on these guys already!"

 

[DWiley]

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?

My copy of USPAP says "...collect, verify, and analyze all information necessary for credible assignment results."

I don't think think a defense of "but the MLS only had 1 photo," or "I assumed the condition based on the sale price," are what I would want to take to my state board, but YMMV.