Tag Archive for: appraisals

Appraised Value Can’t Exceed Highest Comps; Appraised Value ≠ Market Value; WHY WE NEED AGENTS!

We had an appraisal come in $40,000 under contract a few weeks ago – and both the buyers and sellers were furious… solely because they did not understand appraisal guidelines.Read More

How Much Power Do Appraisers Have Over Market Values? Holy Rate Volatility, Batman!

Boing, Boing, Boing, Boing The above subheading is the sound of interest rates bouncing up and down, and today they are way up. This is exactly the type of volatility […]Read More

Inspection-Based Appraisal Waivers – Fannie Mae’s Latest Attempt To Eliminate Appraisers

Both Fannie Mae and Freddie Mac are pushing their latest attempt to bypass appraisers – with what are called “inspection-based appraisal waivers” or “Value Acceptance + Property Data Collection” findings. […]Read More

The Dreaded “Declining Market” Box On Appraisals! Ignorance? Pure Evil? Or – Appraisers Just Doing Their Job?

Median = Misleading Chevron is moving its entire headquarters complex from California to the much more business-friendly Houston, TX area. I happen to know a lot of Chevron employees – […]Read More

Appraisal Comps: “Just the facts, Ma’am” – STUFF EVERY AGENT SHOULD KNOW!

“The story you are about to hear is true; only the names have been changed to protect the innocent.” That was the opening line from the famous 1960s TV series […]Read More

Are FHA Loan Appraisals Public?

If you are one of the many homebuyers looking to qualify for an FHA loan to purchase a primary residence, you will need to get an appraisal. An FHA appraisal establishes the value of the property you are purchasing and makes sure that it is safe for its new occupants.Read More

Provide Rental Comp Data to Appraisers (More Important Than You Realize)

We have had numerous deals almost die or come close to dying over the years – solely because our appraisers could not find adequate rental comp data. There are several […]Read More

Why Appraisers Adjust So Little For Size Differences

If a 2,000 square foot house sells for $800,000, the price per square foot is $400. So, if a nearby house is 2,200 square feet, it should be worth an […]Read More

12 Day Close With Appraisal Waiver; CHECK ADDRESS PRIOR TO OFFERS!

We can close conforming (Fannie/Freddie) loans in 12 CALENDAR days – easily – IF we get a “Property Inspection Waiver,” aka PIW aka Appraisal Waiver. Savvy agents know this – […]Read More

#1 Factor Zillow Estimates Get The Most Wrong (Why We Need Appraisers)

I lived in the same neighborhood for over 20 years and did hundreds of loans within the area – so I knew every nuance of the area. As a former […]Read More

Desktop Appraisals Coming Soon

Desktop Appraisals Are Coming! An appraiser recently charged us $2,000 for a basic appraisal in suburbia with a slightly larger lot and a moderately short time frame – because we […]Read More

Appraisers Ain’t A.M.C’s (Explained); Subjective vs. Objective Too

“Hey Rich, I need a $500,000 appraisal to make this refi work; there’s an extra $300 for you if you can push the value to $500,000…” That was the entire […]Read More

WSJ: “Low Appraisals Upend Home Sales”

The WSJ had this front page headline recently: Low Appraisals Upend Home Sales. And, I thought – where have you been, WSJ? Then, I thought… I should blog about this […]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