As appraisers are dropping out and retiring from the appraisal field due to strict guidelines on qualifications and education requirements the AQB (Appraiser Qualifications Board) has been rethinking the current set of standards applied to Licensed and Certified Appraisers. The … Read More..
Fannie Mae has a new automated underwriting system called the “enhanced property inspection waiver” program. Fannie Mae’s no appraisal offer applies to refinance loans on single family homes or condos up to $1 million and Fannie Mae must have a … Read More..
When people talk about the value of their homes there is a wide variety of terminology…one home could have many different values. Between, the appraised value, listing price, market value and assessed value, who can keep it straight? But like … Read More..
LOAN NOT APPROVED! This is the last thing a potential buyer wants to hear from a bank when trying to purchase a home, but now with Fannie Mae easing the financial standards of the debt to income (DTI) ratio. The … Read More..
Already this year we have seen a shortage in the supply of homes on the market. With the beginning of the spring season upon us buyers are waiting with bated breath ready to pounce on the purchase of their new … Read More..
Buying new construction has decision making every step of the way…what floor plan to choose, what options, what trends will last and should I wait and upgrade that myself rather than paying the builder such a premium? From an appraisal … Read More..
We all want to live the “suite” life….but this one involves a change in your life to include your aging parents moving in with you. As the Baby Boomer generation is getting older we see more multi generational families living under … Read More..
A relocation report is very different from the traditional mortgage appraisal. Appraising a property for a relocation company is a specialized field for appraisers. Appraisers that are willing to broaden their traditional methodology of appraising real estate could benefit by … read more
Appraising a Manufactured Home…or is it a Mobile??…maybe it’s a Modular?? Manufactured homes, mobile homes and modular homes are homes that terms that people (sometimes appraisers) incorrectly use interchangeably. Hopefully the following information will help differentiate the varying types of … read more
Where have all the appraisers gone? The Appraisal Institute has performed a demographic survey of the population of real estate appraisers. The trend showed a continued 3% decline per year for the past 5 years. Younger workers are not choosing the … read more
Waterfront homes, flood zones, flood plains, lowlands….when do you need flood insurance and when are you required to get flood insurance? Flood insurance is specific insurance coverage against property loss from flooding. To determine risk factors for specific properties, insurers … read more
We have all watched the programs on HGTV to see the transformation of an old space revamped, renovated or remodeled into a new modern space that reflects the current housing trends that yield the highest payoff or return. Awe struck … Read More..