Fannie Mae to Drop 1004MC Form Requirement

Since the 1004MC form came out I have held it produces misleading information the significant majority of the time. I am happy to hear Fannie Mae has finally seen the light.

The form develops market trends and statistics to allow the reviewer and appraiser to understand market conditions better. However, there is seldom, if ever, enough data because it relies on a narrow group of similar properties. It has also been redundant if the appraiser is completing the existing Market Conditions section correctly. 
Brian A. Ward
Certified Residential Real Estate Appraiser
www.brianward.com
(619) 630-9273

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San Diego, CA 92113 Housing Trends as of 04/27/2018

When comparing the most recent 6 month period with the same period last year, the median sale price increased 11.0%. There are currently 1.6 months of housing inventory. Recent market exposure median days: 8 and average days: 22. I anticipate that fewer than 90 days of marketing time will be required to sell a property if offered today.

Brian A. Ward
CA Certified Appraiser
(888) 844-1733
Real Estate Appraisal Services For:
* Estates
* Trusts
* Expert Witness Testimony
* Before Buying and/or Obtaining a Mortgage (critical)
* Before Selling
* Property Tax Appeals
* Intra-Family Home Purchases and Sales
* Bonds, Such as Bail Bonds
* More!

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Point Loma, San Diego, CA Housing Market Trends as of 04/27/2018

When comparing the most recent 6 month period with the same period last year, the median sale price increased 5.0%. There are currently 3.5 months of housing inventory. Recent market exposure median days: 14 and average days: 37. I anticipate that fewer than 90 days of marketing time will be required to sell a property if offered today.


Brian A. Ward
CA Certified Appraiser
(888) 844-1733
Real Estate Appraisal Services For:
* Estates
* Trusts
* Expert Witness Testimony
* Before Buying and/or Obtaining a Mortgage (critical)
* Before Selling
* Property Tax Appeals
* Intra-Family Home Purchases and Sales
* Bonds, Such as Bail Bonds
* More!

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