This needs to be seen by as many Realtors as Possible! Closings MAY be delayed if word does not get out!

Reblogger Missy Caulk
Real Estate Broker/Owner with Missy Caulk TEAM

Notice to Ann Arbor residents, new appraisal guidelines are coming September 1st. 

In my case I have already had appraisers starting to do this on my listings under contract

Appraisers must complete appraisals in what is defined as UAD or Uniform Appraisal Dataset format. This is a GSE Fannie, Freddie requirement. 

Original content by Mary Thompson CR004373

Pass this along to every Realtor you know. Re-blog this post, whatever you can do to get the word out!  

As of September 1, 2011 appraisals will change drastically. We now must complete appraisals in what is defined as UAD or Uniform Appraisal Dataset format. This is a GSE Fannie, Freddie requirement. 

What does this mean for you? The new reports will look foreign to you and your clients with all the codes we have to use in the reports, so you will have to be versed on what the codes mean. Instead of the old days where we described a property as being Good in condition or Good in Quality of Construction, we will now be using codes such as Q=3 and C-2, etc. It will be far less user friendly to read and more automated system friendly. Fannie and Freddie want consistency across the board for all appraisals nationwide and the codes are   the way they are trying to get this accomplished. They have clearly defined what Fair, Poor, Average, Good, Very Good and Excellent Quality and Condition should entail. No more leeway in how appraisers determine this on their own. Lenders are also gearing up for uniform delivery of their loan packages and the UAD is part of this whole process.

If you GOOGLE UAD or Uniform Appraisal Dataset you should find a wealth of information on this topic. Be prepared and prepare your clients! 

What do we as appraisers need from you? One of the big changes is we must know in what YEAR any renovations to the BATHS and KITCHENS were completed. In addition to the comments you already place in FMLS/MLS about renovations, we need the renovation year for the kitchens and baths. If the exact year is unknown then we need a specific range, ie: less than 1year ago, in the past 5 years, in the past 10 years or in the past 15 years. 

If we cannot get this information in FMLS/MLS for the SUBJECT we must contact the owner if available or the Realtor and get this information and this takes time and mayt also delay closings! For all the comparable sales and listings that we use in our reports, we of course cannot contact the owner, so we will be contacting you the Realtor unless you have this information in your comments and photos.  While we do NOT have to indicate year of renovations for the comparables, we really need this information in order to properly compare them to the SUBJECT. So any listing you have, please include as much detail about renovations as possible!

What else do we need from you? We need photos! Lots of them, more the better. Photos of the renovations and if you can add descriptions under your photos, please include the YEAR the renovations to kitchen and baths were completed or use the range noted above. Also needed is extent of renovation! Was it a REMODEL  or just an UPDATE. For appraisal purposes a Remodel means a significant change, Gutting of the bath or kitchen, all new fixtures, flooring, cabinetry, appliances, etc. VS. Updating which brings it to current market appeal and standards without a total REDO! New Paint, Some new fixtures, refacing of cabinets, etc.

We must have this information included in every appraisal report. So if all Realtors add this information in the comments or under your photos, life will be easier for all as the appraisal will be completed SOONER and the deals will closed faster. Win/Win for everyone! Not to mention, the homeowner needs to get full credit for renovations and when they were performed!


I hope this POST is featured as we have to get all Realtors on board with this ASAP! So please pass this along to your Brokers too and let me know if you have any questions.

In Future Posts I will define in more detail the codes (which will look foreign to everyone for awhile) and what they mean and how they are defined in our reports


Thanks guys! 


Mary Thompson

Certified Appraiser




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Marnie Matarese
Showing you the best of Sarasota!

Is this nationwide or just in Michigan.  I know it sounds like a stupid question but before I send it all over Florida, I want to make certain that it applies to us.  Thanks.  Marnie


Aug 24, 2011 02:47 AM #1
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC
Missy Thanks for sharing the heads up on the new appraisal process. Good luck and success. Lou Ludwig
Aug 24, 2011 07:55 AM #2
Kim Boekholder Utah Real Estate
Results Real Estate 801.580.5624 - Draper, UT
Broker, Results Real Estate

great timing I just had an appraiser tell me he wouldn't be available her was in UAD training. Now I know exactly what he is talking about.  thanks for posting this

Aug 24, 2011 08:13 AM #3
Donna Paul
Keller Williams Realty Gold Coast - Dix Hills, NY
Long Island Home Specialist,All About Real Estate

Thanks for rebloging this one Missy. It's really going to make a difference when it's time to close our deals.

Aug 24, 2011 01:27 PM #4
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hey Missy,

Thanks for the heads up on this, I had no idea. All the more reason for REALTORS to do a better job when it comes to info submitted to the MLS. As for appraisers needing to reach these agents...sorry to say I hope they have a better experience than I do (at times) as an agent just trying to re-confirm availablility.

And when it comes to appraisers, I'm amazed to the attitude some take at times...let's hope it improves for the sake of everyone.

Aug 24, 2011 03:54 PM #5
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Thanks for sharing this Missy! Best wishes to you and as one of the top Ann Arbor Short Sale Agents!

Aug 30, 2011 03:13 PM #6
Bob Hertzog
Summit Home Consultants - Phoenix, AZ
Designated Broker

Hi Missy, 

Excellent choice of reblog! Being one of the top Ann Arbor Short Sale Agents, your posts are always a great read. Thanks for sharing this. 

Aug 30, 2011 04:38 PM #7
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Marnie, it is nationwide, not just Michigan. 


Sep 03, 2011 02:19 AM #8
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices


Can't get rid of the feeling that there will be even more frustration. The system based on information to be provided by the Seller/Owner will start spinning the wheels the minute we deal with short sale, where the sellers do not want to remember, and people in foreclosure...

So. what are appraisers going to do when they can't get the answer? I think it is a stupid situation, when the job the appraiser is given depends on the information which they may not be able to get.

Sep 05, 2011 03:13 PM #9
Marisue Mullins
Marisue Mullins Real Estate - Austin, TX


Thanks so much for your post on the appraisals. I am in Austin, Texas and have not heard about this yet. Or if it did come out, I must have missed it. After being in this business for 29 years, the one thing I have learned is that, "Change is inevitable".  This is now the 3rd market crash I've been involved with. The first one seemed that all the pointers were going towards "faulty appraisals" so the hammer came down hard. Looks like it was not hard enough with more requirements around details - as if this is going to solve the Wall Street problem where the markets are still not regulated. They just can't see the forest for the trees - once again!




Sep 17, 2011 06:59 AM #10
Kim & Kristine Halverson, Santa Monica Real Estate :) - Santa Monica, CA

Nice Blog Missy.I will make sure to reblog this and spread it to alot of people.Good stuff here.You're definitely the best Ann arbor short sale agent.

Apr 12, 2012 03:37 AM #11
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Keeping interested real estate buyers and sellers informed in your area  is what 

Missy does well...thinking of buying and selling?  I can definitely recommend Missy Caulk the best Ann Arbor Short Sale Agent. 


Apr 20, 2012 12:54 AM #12
Sidney Kutchuk
Property Management & Sales at REALTY WORKS TEMECULA, CA 92590 (951) 217-6745 - Temecula, CA
Property Management & Sales Experts 951-217-6745

I agree with all their comments here Missy,definitely informative and straight to the point.Easy to understand.Stay the best Ann Arbor Short Sale Agent.


Apr 27, 2012 12:51 AM #13
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Missy Caulk

Savvy Realtor - Ann Arbor Real Estate
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