03/10/2026
Value Packed Appraisals Class with scott_hamling - Elevations Credit Union
Reconsideration of Value:
• Point out any mistakes in appraisal
• Reach out to listing agents on any adverse material facts that makes it an invalid comp
• Provide a minimum of 3 sold comps that were not included in the appraisal and why those comps are better
• If values are stable or increasing appraisals can go back 12 months
• If values are increasing an appraiser is required to go back and readjust any comp that was sold more than three months ago
• If values are declining the appraiser is required to provide a minimum of three sales that have closed in the last three months
Recommendations for a Listing Agent:
• 1004MC
• Separate Above SqFt and Below SqFt NEVER use Total SqFt
• Base of the window has to be at or above grade on all four walls
• Comps in sqft need to be within 10-20% sqft. No more.
• Print > 1004mc Report Summary

Come up with an Appreciation Rate Adjustment
Ex:
688,500-634,750 = 53,750/634,750 = 0.084679÷12 = 0.00706 : APPRECIATION RATE ADJUSTMENT

In Blue Marker on 1st Page write PP$
On Comps Put Green Star ✅ on Good Comp & Red ❌ on bad comps
Once this system is well oiled > build up an Appraisal Book. Have that packet hard covered and bound with appraiser info on the front page.


The Uniform Appraisal Data Set
Appraisal formats changed to prevent data mining
CU - Collateral Underwriter risk based analysis system that rates and grades all appraised values from 1-5. A machine giving a value opinion
