Appraise This

By now we have all at least heard about the new 1004 MC Form - or, as I like to call it, the McForm. 

I took a class about a week ago on using the form, extracting data, and processing the information.  For those who do not already know, a local appraiser created a spreadsheet which will do all that processing for you.  He is letting everybody use the spreadsheet for free.  In fact, he even worked with our local MLS and they gave information about the spreadsheet and how to obtain it, and even set up the pre-formatted Export to get the data out of the system and into the spreadsheet!

Of course, with any data, it takes someone experienced and with an understanding of the statistics involved.  Every appraiser will have to use their expertise to select a data set, and their knowledge of the market and their area to make sure the results are valid.  Even with the spreadsheet doing the heavy lifting, I'm very glad that at Barnes Family Appraisal we began using Comprehensive Market Statistics long before we were forced to by Fannie Mae.  My understanding of the data and the market allows me verify the McForm is reliable and accurate.

I just wanted to take a moment here to thank Don Machholz for his work and his generosity.  Don, you have made crunching numbers painless!  And, most importantly, I want to encourage all users of Don's spreadsheet to send him your thanks.  From what he said, he isn't making ANY money off of this - but I think maybe he would appreciate a Starbucks gift card...  Just think about how much time (and time is money!) this spreadsheet has saved us all - and pay it forward!!!!!