JVM Lending is currently unable to accept new refinance applications because we have exceeded our loan volume capacity limit and are unable to process new refinance loans until our current pipeline is cleared.

We sincerely apologize for this inconvenience. However, we are still accepting new home purchase applications, as we still have capacity in our purchase division.


Why Appraisers Often Come In So Much Lower Than Homeowner Estimates

We once had clients who spent dozens (if not hundreds) of hours removing the popcorn ceilings from their $950,000 home. B/c they put so much “sweat” into their equity, they were convinced that their home would appraise for substantially more when they were done. But b/c their neighborhood market had recently softened a bit, their […]Read More

Why & When Appraisals Do NOT Equal Market Value

BEATING THE APPRAISAL DEAD HORSE I beat this dead horse more than any other simply because the issue surfaces so often. This week was no exception when a buyer of ours got cold feet when his appraisal came in $25,000 under contract price. This happens from time to time in hot markets whenever there are […]Read More

When “Appraised” Value Is NOT Market Value

B/c the market is heating up again, we have had several appraisal issues recently where there were simply no comparable sales available to support the contract price (despite multiple offers at that price). B/c the agents involved in the transactions were frustrated, I thought it was necessary to repeat this blog. TEN OFFERS OVER $1 […]Read More

“External Influences” (Busy Streets, BART, Cemeteries, etc.) Can Significantly Impact Values

Real estate agents involved in transactions with external influences sometimes under-estimate their effect and get frustrated when appraisers have difficulty supporting value. The most common problem involves properties on busy through-streets. A loud or busy street near a property can shave as much as $50,000 to $100,000 off the appraised value, depending on the price […]Read More

Appraised Value Often Does Not Equal Market Value

I share this story often during our Mortgage 101 Seminars. We once had a transaction in Berkeley 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 b/c there were so many buyers willing to […]Read More

What if an Appraisal Comes in High? Comes in Low???

We have had several FHA Purchases lately involving appraisals that came in way above purchase price. We have a $420,000 purchase, for example, with a $460,000 appraisal. When this happens, our borrowers often think they qualify for better financing, but they don’t. For value purposes, lenders always correlate to the Contract Purchase Price. Appraisals are […]Read More

“Appraised” Value is often NOT “Market” Value

There is a transaction involving a house in Antioch that was listed for $249,000. There were multiple offers for the house, and all of them were over $220,000. In light of the fact that numerous, arms-length, knowledgeable buyers were willing to pay over $220,000, the “market value” is clearly over $220,000. The problem is that […]Read More