appraisals Archives

$839K Listing Sells For $300K Over; Provides Two Great Appraisal Lessons!

April 3, 2026/in Appraisals, JVM's Daily Blog, Mortgage

Per our client’s agent, there were 22 offers – and our client’s $1,150,000 offer was not even in the running. So, we’re assuming the home sold for close to $1,200,000, but we won’t know for sure until it closes. The home is a 1,600 SF, 3/2 with a 1-car garage, built in 1948. AND – IT PROVIDES TWO EXCELLENT APPRAISAL LESSONSRead More

30% Down Requires No Appraisal Contingency Or Shortfall Funds, UNLESS…

April 1, 2026/in JVM's Daily Blog, Mortgage

This is a reminder that appraisal contingencies and/or proof of funds to cover appraisal shortfalls are unnecessary with large down payments. This is because lenders can easily shift financing from 30% down to 10% down, for example. Buyers can then use the savings from the smaller down payment to cover shortfalls – if an appraisal comes in low. We have, in fact, saved many 10% down purchases by shifting them to FHA financing with only 3.5% down. But there is a huge exception to this rule – and it is also good news!Read More

“Interest Rates” ≠ Mortgage Rates; Inflation Cools, So Woohoo But Not For Long; Banker & Broker; Land-to-Value Ratios

January 22, 2026/in JVM's Daily Blog, Mortgage

“Interest Rates” Are Not Always “Mortgage Rates.” When the media is telling everyone that interest rates are climbing, it does not always mean that mortgage rates are climbing. We have been seeing this play out recently, as the 10-Year Treasury Yield (the benchmark interest rate) has been edging higher, but mortgage rates are holding relatively steady. In other words, the “spread” between mortgage rates and the 10-Year Treasury continues to tighten. Interest rates can in fact refer to many things such as mortgage rates, mortgage-backed security rates (different from mortgage rates), Treasury bond and bill rates, the Prime Rate, the Fed Funds Rate – and more.Read More

Why You Don’t Want Appraisers To Push Values! Rate Cut Nazi: “No Cut For You!”

November 20, 2025/in Interest Rates, JVM's Daily Blog

We had an appraisal sliced to ribbons yesterday by a review appraiser, and that was the impetus for this blog. The appraiser thought he was doing us a favor by coming in at contract price, but unfortunately that was not the case. If the appraiser had come in a bit low to begin with, given the lack of adequate comparable sales to support the contract price, there likely would have been no call for an appraisal review – and we’d now have a much higher value to work with.Read More

Can Appraisers Use Comps From Other Cities? Appraisal Reminders; Fake Rate Quotes

September 22, 2025/in JVM's Daily Blog, Mortgage

Loan officers know they don’t have to honor a rate quote when they are pre-approving a borrower (before the borrower’s even making offers). Hence, many loan officers quote rates that are below market. We saw this happen over the weekend, in fact, when one of our pre-approved borrowers was quoted a below-market rate by a lender with notoriously high rates (prompting me to type this reminder).Read More

Discussing Potential Appraisal Issues When Offers Go Out; “Appraisal Gap Strategy”

September 12, 2025/in Appraisals, JVM's Daily Blog

This is one more reminder that the markets have already priced in the Fed’s impending rate cuts. And that waiting for rates to fall further is often costly.Read More

We’re Seeing Lots of Low Appraisals; Here Are Your Options

September 11, 2025/in Appraisals, JVM's Daily Blog

Appraisals are coming in low more often, but here are six ways to keep deals alive, including smart uses of PMI.Read More

10 Important Appraisal Considerations Every Agent Should Know

August 28, 2025/in JVM's Daily Blog, Mortgage

We’re seeing more low appraisals than in the past - primarily because markets are softer and appraisers are reluctant to push values to the top of the comp range. Agents should prepare their clients – unless the comparable sales are particularly strong.Read More

Condition Issues Are Killing Deals More Than Ever; Why & What To Do?

August 21, 2025/in JVM's Daily Blog, Real Estate

When I was 22 in 1985, I was a ski bum at Copper Mountain in Colorado – and my daily to-do list looked like this: ski, drink beer, ski, drink beer, ski, ski, ski, drink beer, repeat.Read More

What Agents Should Do First Before Listing Or Offering On A Condo

July 30, 2025/in JVM's Daily Blog, Real Estate

This Is the First Thing Every Agent Should Do Before Listing or Offering on a Condo: Make sure the complex/HOA is “warrantable” or approved for financing by Fannie Mae and/or Freddie Mac.Read More

What Is An Appraisal Contingency? Why It Matters

February 25, 2025/in Appraisals, C-Blog Category

Discover how an appraisal contingency protects your investment by letting you cancel or renegotiate a deal if a home appraises below the agreed sales price. This guide explains how appraisal, mortgage, and financing contingencies work together to safeguard your bottom line and ensure your loan amount reflects true market value. Learn practical tips for navigating bidding wars, handling appraisal gaps, and making informed decisions throughout your real estate transaction. With clear explanations and expert advice from JVM Lending, you'll be empowered to move confidently from the purchase contract to closing.Read More