Tag Archive for: appraisal

Low Appraisals – 6 Options When Appraisals Come In Low

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive.Read More

Illegal/Commercial Use Of Property Is NOT A Deal Killer As Long As…

Illegal/Commercial Use Of Residential Property We once financed the purchase of a home that was being used as an office for a large paving and concrete contractor. He had a […]Read More

The Appraisal Type Everyone Should Avoid at All Costs! 5 Appraisal Types

Today’s blog was written by JVM’s Appraisal Manager, Taylor Allen. She orders our appraisals, manages our appraisal team, carefully curates and manages our huge stable of appraisers, reviews appraisals, rebuts appraisals, […]Read More

Everything You Need to Know About Appraised Value in Real Estate

Have you ever wondered how appraised value impacts the real estate market and the homebuying process? Whether you're buying, selling, or refinancing a home, understanding the concept of appraised value is crucial. It plays a significant role in determining the worth of a property and affects various aspects of real estate transactions.Read More

Declining Markets Force Banks To Increase Down Payment Requirements; What To Do?

In January, I blogged about appraisers checking “The Dreaded Declining Markets” box on appraisals. I highly recommend re-reading that blog, as the issue is much more prominent now – particularly […]Read More

What is a Real Estate Appraisal?

A real estate appraisal is a professional assessment of the value of a property and is typically conducted by a licensed appraiser.Read More

Condo vs. Townhome vs. PUD

This is another reminder that condos are not distinguishable from PUDs (Planned Unit Development units) by appearance alone. Attached side-by-side two-story units that all touch the ground can be zoned “CONDO” or “PUD.” Complexes with units that “float” (that do not touch the ground) will almost always be zoned condo (PUDs must touch the ground).Read More

Appraisers Can’t Ignore “Bad” Comparable Sales; Agents Shouldn’t Either

AGENTS WERE LIVID WHEN APPRAISAL CAME IN LOW We recently had an appraisal come in $25,000 under contract price – and the agents were irate! They sent us comps that […]Read More

Bedroom Counts And Home Values – A Very Big Deal!

WHAT CONSTITUTES A BEDROOM? I wrote a blog last year called What Constitutes A Bedroom? in response to an agent who was angry because our appraiser refused to deem a […]Read More

Why Appraised Values Have To “Season” After A Purchase

“I just bought the property for $800,000 but it is worth $1,000,000 now, and I would like to refi using the higher appraised value…” We get emails like the above […]Read More

Appraisal Reviews = Collateral Reviews = CDAs = DELAYS (Mostly For Jumbo)

The appraisal review requirement is one of the reasons why jumbo loans take at least a week longer to close than conforming (Fannie/Freddie) loans.Read More

Appraisal Problems – 5 Options When Appraisals Come In Low

Our Zillow rep told us yesterday that searches for new homes are down 25% from recent months, as buyers appear to be “fatigued” and are putting their searches on hold. […]Read More

Do Homebuyers in California Need An Appraisal For The Home They’re Buying?

Unless you plan on paying all cash for your new property, you will likely need a home appraisal in California.  But “appraisal waivers” are becoming increasingly common now for certain types of financing, and we explain why below.Read More

Appraisers Can’t Push Values; Must Avoid Reviews/Cuts

We had an appraisal come in slightly under contract price this week. What made it a surprise was the fact that there seemed to be ample comparable sales to support the value (unusual in this market, to say the least). So, when the appraisal came in low, both agents, the seller and the buyer all expressed extreme frustration with the appraiser. As a result, I got involved and noticed the appraiser was somebody I have known for 25 years. He is a super smart UC Berkeley grad with well over 30 years of experience – so I knew immediately that it was unlikely that he made an error.Read More