Appraisal Opinions

FNMA Appraisal Update
July 10th, 2010 7:21 PM

Effective Sept. 1st, Fannie Mae will prohibit lenders who sell it loans from changing appraisers' numbers. Lenders must contact appraisers to "resolve" any disagreements about the valuation. If that's not possible, they should order another appraisal and not just chop the value supporting the real estate contract.Lenders will no longer be able to change the appraiser's valuation simply because they pulled a lower number off a computer.

 

 

(Information was obtained through the St Petersburg Times-The Nations Housing-by Kenneth R. Harney)

Posted by Mark Croteau on July 10th, 2010 7:21 PMPost a Comment (0)

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Tax Cedit Extention
June 22nd, 2010 1:28 PM
The tax extention should help buyers to close in time to receive it but what is going to help more buyers come to market?
Posted by Mark Croteau on June 22nd, 2010 1:28 PMPost a Comment (0)

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Cost Approach
May 23rd, 2010 4:16 AM
Would doing a cost approach for homeowners for insurance purposes be a good idea? Let me know what you think.
Posted by Mark Croteau on May 23rd, 2010 4:16 AMPost a Comment (0)

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Active Rain
April 26th, 2010 8:34 PM
See my new blog at Active Rain. I'm interested to see if this site helps business and contacts or is just another time consuming thing to fill work hours.
Posted by Mark Croteau on April 26th, 2010 8:34 PMPost a Comment (0)

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Restricted Use Appraisal Reports
April 14th, 2010 3:42 PM
I am considering using Restricted Use appraisal reports for buyers and/or sellers to use. Price would be significantly less than a full appriasal report. Do you think there would be any demand for such a product?
Posted by Mark Croteau on April 14th, 2010 3:42 PMPost a Comment (0)

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Declining Values
April 9th, 2010 7:26 AM
After 4/30 when the tax credit expires expect to see prices decline in a "double dip". Jobless rate in Pinellas County and the Tampa Bay area is high and numerous sales now are the under $200,000 price range. Who will be buying houses after the tax credit expires?
Posted by Mark Croteau on April 9th, 2010 7:26 AMPost a Comment (0)

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Sales Rate
March 25th, 2010 1:10 PM
It looks like sales are picking up in March. I hope they continue into AT LEAST April. Sales increase is probably due to tax credit near expiration. I wonder what will happen after April. Will sales fall off a cliff?
Posted by Mark Croteau on March 25th, 2010 1:10 PMPost a Comment (0)

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Appraisals For Buyers and/or Sellers
March 5th, 2010 8:15 AM
A State Certified Residential Resticted Use appraisal can be performed for as little as $200. Would a seller consider this in order to feel more comfortable with their list price? Would a buyer consider this option prior to submitting a contract? Would a Real Estate Agent consider offering this option to a potential client in order to set themselves apart from other agents in order to get the listing or as a buyers agent? Let me know what you think.
Posted by Mark Croteau on March 5th, 2010 8:15 AMPost a Comment (0)

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Appraisal Fees
February 25th, 2010 2:22 PM
Independent appraisal fees for Pinellas County have a median price of $350. New FHA appraisal guidlines state that appraisers shoul be paid "normal and customary fees". Appraisal management companies typical pay appraisers 40-70% of that amount. By doing so, they use inexperienced appraisers or appraisers who were not good enough in most cases to obtain and retain full fees. Tell me what you think.
Posted by Mark Croteau on February 25th, 2010 2:22 PMPost a Comment (0)

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$8,000 Tax Cedit
October 27th, 2009 7:20 AM
Is the tax credit helping to increase number of sales? Will sales slow back to nothing if the credit is not extended? What's your view?
Posted by Mark Croteau on October 27th, 2009 7:20 AMPost a Comment (0)

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