Matrix the MLS System of MRIS in the Mid-Atlantic Region adds reports for completing 1004MC

[Frank John]

Logged into the MLS yesterday and saw the following. Haven't yet played with the reports but sounds good....

Frank

News



Matrix has New Print Reports
Posted by MRIS
Monday, March 23, 2009


We’ve listened to your requests and created new reports in Matrix! The Print Report section in Matrix now includes Stats Analysis Report and Stats Analysis Detail. These reports are designed to give you the necessary data to complete the Market Conditions Addendum to the Appraisal Report (Freddie Mac Form 71, Fannie Mae Form 1004MC March 2009). Through the use of these reports, you will be able to discover (1) Average list price, (2) Median list price, (3) Average sold price, (4) Median sold price, and (5) Average and Median DOMM and DOMP. These reports are not only for appraisers to use, they are also a great basis for providing statistical information regarding market conditions to buyers and sellers.


Collaboration

This report was created by MRIS and the Appraisers Advisory Group to ensure we provide solutions that meet the needs of our appraiser community.

Rave Reviews

"I am pleased to say these new statistical reports will be extremely helpful to appraisers in preparing the new Fannie Mae/Freddie Mac Form 1004MC. Guided by input from the Appraiser Advisory Group, MRIS has done a superb job of not only extracting the data we need, but in formatting it in such a way that it is easy to use. Furthermore, the reports include additional data that lets us better understand market and submarket trends as well as the previously hidden facts about specific property sales. They enable us to do more refined analyses such as quarter-by-quarter for a particular property type in a given price range within your defined market area. I am sure appraisers will find this new product highly useful, particularly in today’s varied and rapidly changing market conditions."

Beth L. Riedel, President

Maryland Association of Appraisers, Inc.

How to Use

The reports are available once you conduct a search in Matrix. After conducting your search, select the properties you wish to include in the report (try the check all link) and click Print Report. Select either Stats Analysis Report or Stats Analysis Detail from the Print Report list. Next, click Generate to view the report. Using the information generated, complete the Market Conditions Addendum of the Appraisal Report.

Training

Need tips on completing the FNMA Form 1004MC or Form 71? If so, attend the new Market Conditions – For Appraisers class and discover how to find the information you need. The following will be covered; Where to find the necessary information, how to calculate the market absorption rate for various periods of time, and how to find median, average, and list price to sale price ratio. To sign up; click here.

Feedback

Your input counts! These reports were created based on subscriber requests, please submit any feedback regarding these reports using the Feedback link at the bottom of the Matrix screen. Your feedback is compiled to help improve our services!











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[Tim Ferguson]

Frank this is great! I knew before this I was going to have my job cut out for me, cause MRIS did not have this.

[Phil Snyder]

Someone correct me, but isn't the MC asking for median sales/list prices and DOM?

From what I am seeing the MRIS stat report (either one) shows an average. Plus, without lumping them into "prior 7-12" and so on, how will we separate out the dates?

Am I missing something?