Bye-bye 1004MC, Hello Analysis
By Rachel Massey, SRA, AI-RRS
Excerpt: What does this mean to the residential practitioner operating in the mortgage space? It means that the requirement for analyzing the market remains, and it is now up to the practitioner to support their opinion, without the benefit of a flawed format. Appraisers can now choose how they present their analysis, which may include multiple sources to support an opinion. Fannie Mae is clear that the one-unit housing trends section should reflect properties that are directly competitive with the property being appraised. The following information relates to several different ways to support trends, but is not an exhaustive list.
Read the full article here:
My comment: FHA and VA still require 1004mc, plus some lenders and AMCs. Freddie is expected to drop the requirement.
Take Pet Pampering to the Next Level with These Fabulous Dog Houses
Just For Fun!!
My comment: check out the fotos!! Wonder what my cat would think about these Dog Houses? I need a Big Cat House, way up high on a pedestal, with mice ;>
Pets and Homebuying – Animals are family members
Donation Fundraising for Louisiana Appraisers
Thanks (again) to Dave Towne for this info!!
The Louisiana Real Estate Appraisers Coalition (LAREAC) has started a fund raising campaign using PayPal, which will be used to equally provide donated funds to affected appraisers who are suffering as a result of the massive flooding last weekend. PayPal is being used because its administrative fee is less than another more-well-known crowd funding web site.
There are approximately 8-10 presently known appraisers who have had their homes nearly destroyed in the flood.
My comment: last week I wrote about donations to Bill Cobb, whose house was flooded. It is great that this donation method is done also.
8 Colorful Cities that Look Like They Were Designed by Crayola
See the world in a whole new light through these vibrant locales.
Just for Fun!!!
Many cities are known for their distinctive profiles and unique landmarks, but all across the globe there are regions that are landmarks in and of themselves thanks to their insane colorations. From a all-blue town in Spain that is a leftover from a Smurf marketing stunt, to a Venetian island that looks as though it was born of an intense acid trip, some of the most colorful locations in the world aren’t the biggest, just the most eye-popping. Check out eight cities and towns that offer vibrantly colorful views which are just as unforgettable as any big city skyline.
My comment: None are in the U.S. Too conservative I guess…
Great article with lots of photos and comments!!
Poll: Generally speaking, how accurate do you find MLS data in your area?
This week’s poll: “Now that we have been living for some time with all the new rules governing residential appraisal, do you still enjoy doing the actual appraisal work?” Go to www.appraisalport.com and vote!!
My comments: I have no idea why so many people think that MLS data is correct!! Of course, it does vary a lot among MLSs. In my area it is “reasonably accurate”, except public records data is often used (and the source disclosed). For example, on the weekly open house tour last week, an agent had 2 bedrooms in the listing, because “that is what public records says”. The second bedroom was tandem with another bedroom and very small. We all know how (inaccurate) public records are. Somehow, everyone, including some appraisers, think it is accurate. Or, worse, try to make their appraisals match public records to avoid callbacks.
To make a comment, scroll down to the post below and read other appraisers’ comments and post your own!!
10 homes that changed America (PBS – April, 2015)
Excerpt: In its 10 Homes That Changed America, a three-part series, PBS discusses the many ways that America has been shaped by its iconic and important architecture. According to series host Geoffrey Baer, narrowing the millions of houses across America down to ten examples was a challenge. The tv show tours the ten homes that have not only passed the test of time but also paved the way for those that followed.
Here are a few, with photos and brief descriptions at the link below:
– Taos Pueblo, New Mexico (circa 15th century)
– Glidehouse, Novato, California (2004)
– Mid-19th Century Tenement, New York City
My comment: Fascinating!! The first one of the 3-part series has already aired. Be sure not to miss the rest. I will let you know when the first one is available for viewing online.