“The unique nature of the subject property necessitates going outside of the typical market area of influence to garner adequate comparable sales data.” In 1994, a really smart appraiser taught me to say that in appraisals whenever it was necessary to go outside of the neighborhood or a 1 mile radius to get comps to support value.
That appraiser is still appraising for JVM, and this is a key reason why we are able to close more deals and close so much faster than other lenders. Highly skilled and intelligent appraisers are essential to the success of any mortgage lender.
This is a major reason why we no longer broker loans – the big wholesale lenders forced us to use national appraisal management companies that had lousy appraisers and horrible service records. Incompetent appraisers killed far too many transactions.
JVM only uses a local appraisal management company that is 100% staffed with highly skilled, local and hand-picked appraisers. Appraisers who exhibit incompetence are removed from the panel.
Jay Voorhees
Founder/Broker | JVM Lending
(925) 855-4491 | DRE# 01524255, NMLS# 335646
