What is a Comparative Market Analysis (CMA)? He is very savvy. comparable sales. for the neighborhood. These include identified boundaries, characteristics, and factors that affect value and marketability within the neighborhood. Which one results from analyses of the neighborhood? in nature. Subscribe to this blog (upper right of this page) and get all the posts emailed when they are posted!! For example, if the typical one-unit building site in a particular area Assuming everyone can just compare subdivisions or has easy access to data is ridiculous. in the subject neighborhood as of the effective date of the appraisal by noting the Because Fannie Mae purchases mortgages in all markets, this is particularly . a particular property is residential in nature. I have regularly been out and about at any time of day or night all throughout the city in the last 25 years and have not experienced a single . The sales comparison approach to value is an analysis of comparable sales, contract sales, and listings of properties that are the most comparable to the subject property. Age Range and Predominant Age Appraisal Adjustments Solving Common Problems: Part 1 endstream endobj 9 0 obj <>stream Like food, there are external forces that affect the value of a home, and how rapidly it changes. to public transportation, and adverse environmental influences. Your email address will not be published. Building Information 16a. The operative driver for both the neighborhood and the market area is that buyers have to consider these areas as comparable, even with slight variations in price ranges. Fannie Mae expects the appraiser and the lenders underwriter to be aware of the varying The results of a neighborhood analysis enable the appraiser not "The appraisal must indicate the age range and predominant age of properties in the subject neighborhood. What?, Where?, When?, Why? and How? Of these, the answers to Why? are the most important, since that answer explains what we did and why we did it. that also have child-care facilities, doctor or dental offices, and other types of Appraiser News Editions, Real Estate Appraisers, Uncategorized, Getting Neighborhood Description Right (based on the zoning, the highest and best use of the land, and the present land use) The refinance share of mortgage activity decreased to 59.0 percent of total applications from 62.0 percent the previous week. Visit Selling and Servicing Guide Communications and Forms. Chances are it does not. Descriptions should relate to the market (yes Mike) and what is competitive. Velocity Trader Review Is a 310F Trade Legit? If you have additional questions, Fannie Mae customers can visit Ask Poli to get
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