The new Fannie Mae Market Conditions Addendum (Form 1004MC) “will be required with all one- to four-unit property appraisals performed on or after April 1, 2009.”  To help our appraiser custumers with this new requirement, we’ve modified the statistical CMA function in flexmls Web to include some new statistics broken out by the time-frames required by the market conditions reprort.

Current flexmls Web customers can preview this report using your regular login and password on our beta server.  To access the report, do a search to find your comps, choose CMA, and then statistical CMA where you’ll then have the option to include the 1004 MC market conditions stats.

Let us know in the flexmls Web user forums if you see any changes needed.  We expect to have it released before the April 1, 2009, deadline.

6 Responses to Fannie Mae Market Conditions Addendum (Form 1004MC)

  1. Russell Shaw says:

    We have never laid it out quite like this but analysis of the supply – demand in the specific neighborhood has been standard procedure for my office on every comps file and listing appointment for the past 20 years. Actually, it has been “our secret method” for determining the correct price.

  2. Lisa Gorski says:

    When will the CMA statistical data for 1004MC be available?

  3. We’re hoping in the next day or two. However, you can access it now through beta.flexmls.com, which points at your live data.

  4. Lisa Gorski says:

    Michael – Thanks for the response.

    Also – Is it possible to add “Under Contract Date” as an available field to the My Exports section? It is not listed. That field is available in the My views and is needed to run some similar stats/data for the 1004MC utilizing a spreadsheet.

    Thanks again.

  5. Lisa, you will need to discuss that with your MLS and have them make the request.

  6. [...] released a new 1004 Market Conditions option for the statistical CMA in flexmls Web a week ago, and the response has been so positive I thought it was worthwhile [...]

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