Tag Archive for: appraisal guidelines

“It’s Raining Low Appraisals” Why & What To Do

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We have seen an onslaught of low appraisals recently. The primary reason is that the market is heating up in some areas – so offers are coming in that are higher than all of the closed comparable sales in the immediate neighborhood.Read More

What is “Gross Living Area” For A Home (Not Finished Basements)

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When I was a kid growing up in Southwest Minnesota, everyone had basements. Basements initially served as “root cellars” to store potatoes and carrots all winter (which we actually did) […]Read More

6 Things That Terrify Appraisers

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Here are a few things that really scare appraisers. 1. Unusual Properties. Unusual properties include those with acreages, odd structures (e.g. a round house), multiple dwellings on one lot, adverse […]Read More

Why & When Appraisals Do NOT Equal Market Value

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We once had a transaction in Berkeley, CA involving a property that was listed for $850,000, and there were more than ten offers for over $1 million. The market value for that property was clearly over $1 million because there were so many buyers willing to pay over $1 million in an open market.Read More

Appraisal Condition/Health & Safety Issues to Watch For!

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Realtors are often frustrated about “condition” and “health & safety” issues that get called out by appraisers, and they come to us for guidance. They obviously want to avoid getting […]Read More

Why Appraisals Do NOT Reflect Market Values In Hot Markets

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Appraisals don’t always match rising home prices in hot markets. Since appraisers can only use closed sales, fast-moving price increases are often missed.Read More

Loans Follow Guidelines, Not Logic

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Many loans stall not because of borrower risk but due to rigid rules. We explain why logic often takes a back seat to regulation in lending.Read More