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1004MC Market Conditions Addendum o o o o o o o o o o o o o o o o o o o Due to the volatile real estate market, Fannie Mae is now requiring that appraisers complete the Market Conditions Addendum
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How to fill out 1004mc market conditions addendum

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How to fill out 1004mc market conditions addendum:

01
Start by gathering the necessary information for the addendum, such as the specific market area and the effective date of the report.
02
Evaluate the market conditions by analyzing the current trends and recent sales data in the area. Consider factors such as the number of active listings, average days on market, and median sales prices.
03
Use the provided form or template to document your findings. Fill in the required sections, including the market area description, neighborhood boundaries, and any noteworthy market characteristics.
04
Calculate the appropriate data for each respective category in the addendum, such as the number of comparable active listings, pending sales, and closed sales within a specific time frame.
05
Present the data in a clear and organized manner, ensuring that all necessary calculations are accurate.
06
Provide an overall analysis of the market conditions based on the data presented. This may include insights on market stability, buyer or seller preferences, and potential impacts on property values.
07
Review and proofread the completed addendum for any errors or omissions before submitting it with the relevant appraisal report.

Who needs 1004mc market conditions addendum:

01
Real estate appraisers: Appraisers typically include the 1004mc market conditions addendum as part of their appraisal report. It helps them provide an accurate assessment of the subject property's market value by considering the prevailing market conditions.
02
Mortgage lenders: Lenders often require the 1004mc addendum to ensure that they are fully aware of the current market conditions when making lending decisions. It helps them assess the risk associated with the property and the overall market stability.
03
Homebuyers and sellers: The 1004mc market conditions addendum may not be directly used by buyers and sellers. However, it provides valuable information about the market that can help them make informed decisions regarding their real estate transactions.
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1004mc market conditions addendum is a form used in real estate appraisals to provide information on market trends and conditions affecting property value.
Real estate appraisers are required to file 1004mc market conditions addendum as part of their appraisal reports.
To fill out 1004mc market conditions addendum, appraisers need to analyze and report on various market factors such as supply and demand, listing and sales prices, and days on market.
The purpose of 1004mc market conditions addendum is to provide an overview of market conditions that may impact the value of the subject property being appraised.
Information such as comparable property sales, market trends, and conditions affecting property value must be reported on 1004mc market conditions addendum.
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Relevant keywords

1004MC Fannie 2009 FHA ACI fieldsnot formsdocs jsp 1004C hudclips MSA 1004D numeric efanniemae 1st alamode marketability sf appraisers Mortgagee valuation appraisals foreclosures commensurate tracts encompass appraiser applicable Addendum bundled

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