Uniform Appraisal Dataset
Tuesday, August 2, 2011 at 7:20AM Uniform Appraisal Dataset is less than a month away from implementation!
This week we thought we’d explore changes to location and view adjustments. Currently on an appraisal, you might see: typical, residential, bay, mountains, good, none, street.
September 1st will bring two components, first, one of three letters: a, b, n followed by up to two standardized and abbreviated descriptors.
A= adverse Example: A;Ind;PwrLn
Meaning: adverse as the view is industrial and of power lines
B = beneficial Example: B;AdjPrk
Meaning: beneficial as it is located adjacent to a park.
N= neutral Example: N;Res
Meaning: neutral as the view is residential, no specific feature
A list of abbreviations can be found on page 37 of Appendix D on the Fannie or Freddie website. And of course questions emerge: What if there are more than two view components? What if one location feature is beneficial and one is adverse? All good questions and it is why we believe appraisers’ narratives will become that more critical in the coming months and why you may see the same descriptor on the grid yet the adjustments
Kim Perotti
Director of Operations
http://www.axis-amc.com
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