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Are you a cross your fingers type of Baton Rouge REALTOR when it comes to appraisals ?

Do you cross your fingers in hopes that the appraisal doesn’t come in low? My Appraiser Friend and Collegue, Tom Horn SRA in Birmingham AL offers on supporting your listing price.  If you’re a listing agent, and the title of this blog describes the way you prepare for real estate appraisals on your listings, then you’ve come to the right place. Many agents believe that they have no control in the appraisal process but I disagree. While there is no way to influence the appraiser to get a value that you want, there are ways to make sure that the Read more

Baton Rouge Pre-Purchase Cash Sale Appraisals Explained Video

Pre-Purchase Home Appraisals For Cash Sale In Baton Rouge Explained This involves the homebuyer paying cash and obtaining a pre purchase home appraisal, pre-purchase home appraisal or cash sale home appraisal to determine if they’re paying a fair price and if the physical information presented by REALTOR is correct or not. Physical information can be the actual verified living area size, such as is this home really 2,800 sq. ft. of legal heated and cooled sq. ft. or is it really 2,400sf sq. ft. If the average sales price in a market is $110/sf, then that’s a big deal. Sourced Read more

Does one-mile radius of comps in appraisals still apply

Does one-mile radius of comps in appraisals still apply in 2016? Sourced through Scoop.it from: activerain.com Does one-mile radius of comps in appraisals still apply in 2016?  ANSWER: I would strongly recommend watching Fannie Mae’s CU video on comp selection.  I’ve attempted to provide actual Fannie Mae references to help answer this concern.  http://activerain.com/blogsview/4811305/does-one-mile-radius-of-comps-in-appraisals-still-apply-in-2016-

Seeing the forest and the trees in real estate, look at more than 12 months of data

Seeing the forest and the trees in real estate Sourced through Scoop.it from: sacramentoappraisalblog.com Seeing the forest and the trees in real estate by Ryan Lundquist.  Look at more than 12 months of data My comment: Great Point, Ryan! Yesterday, I was completing a SMART Appraiser history graph of median sales price showing +7.8% gain over the past 12 months for sub-market. But, I knew better in this particular market, looked at an 18 month chart of same and saw where even with the +7.8% increase of recent, this market was still down 18.9%. It would have been mistake to apply Read more

Baton Rouge Appraiser Frustration Computers Questioning

Fannie Mae CU or Collateral Underwriter can be frustrating to Home Appraisers when their computer models try to second guess Appraiser’s judgment.  Now computer models tell Appraisers the comps they should use instead of Appraiser Judgment For example, this past week, I performed a foreclosure purchase on a home obviously needing some repairs and on the market for a much longer than average 275 days in two (2) REO listings.  It sold between $25,000 to $30,000 below market…for a reason.  After submitting the report, I received the following revision request: “The appraiser-provided comparables are materially different than the model selected Read more

Baton Rouge Appraiser USDA Rural Development Appraisal

USDA or Rural Development Home Appraisal Requirement follow the most current FHA appraisal requirements. In 2015, FHA increased appraisal standards and requirements for a house to qualify for FHA financing. Assuming the house actually meets each of these standards below, these are the new comments I’ve added to my Baton Rouge USDA Home Appraisal Reports   Sourced through Scoop.it from: activerain.com Baton Rouge Appraiser USDA Rural Development Appraisal Requirements USDA or Rural Development Home Appraisal Requirement follow the most current FHA appraisal requirements. In 2015, FHA increased appraisal standards and requirements for a house to qualify for FHA financing. Assuming Read more

Baton Rouge FHA Appraiser New Report Commentary 2015

In 2015, FHA increased appraisal standards and requirements for a house to qualify for FHA financing. Assuming the house actually meets each of these standards below, these are the new comments I’ve added to my Baton Rouge FHA Home Appraisal Reports .  As with any home purchase, new house or exiting house, I highly recommend a thorough home inspection!  Sourced through Scoop.it from: activerain.com Baton Rouge FHA Appraiser New Report Commentary 2015 In 2015, FHA increased appraisal standards and requirements for a house to qualify for FHA financing. Assuming the house actually meets each of these standards below, these are the Read more

4 REALTORĀ® Tips To Help Your Deals Appraise

There’s been HVCC, now Dodd-Frank, now TRID and Third Party this and Third Party that – AMCs (Appraisal Management Companies) to help create buffers in business between REALTORS® so those that service deals don’t become too cozy. My interpretation of Dodd-Frank law was that it was meant to right the wrongs of HVCC – to bring about more communication between REALTORS® and Appraisers…without us becoming too cozy in influencing eachs professional task. However, dealing with third party AMCs can sometimes make for a lack of follow through and loss of communication. Sourced through Scoop.it from: activerain.com 4 REALTOR® Tips To Read more

Baton Rouge Appraiser Responds: Subjective Views can kill a home sale

Recently, the Washington Post and Ken Harney published, “Appraiser’s subjective view can kill a deal despite accord by buyer and seller”, see link at bottom.  In this article, it talks about recent studies of adjustments to comparable sales used in appraisals and categorizes adjustments into two camps: objective and subjective. Dictionary definitions tend to lump objective into “the facts” versus subjective more into an Appraiser’s opinion or personal bias.   Sourced through Scoop.it from: activerain.com Baton Rouge Appraiser Responds: Subjective Views can kill a home sale  OBJECTIVE ADJUSTMENTS are outlined in pink highlight: living area size, lot size, # of Read more

Lakepark Garden Homes Baton Rouge Be Careful of Pricing

I recently completed a Baton Rouge refinance home appraisal in Lakepark Garden Homes. Lakepark Garden Homes was developed in 1985 with some homes built, stalled building due to U.S. economic meltdown and resumed new homes in approximately 1992-1994. Homes range from 874sf to 2,373 sq. ft. average size 1357sf. The following is my report on the home sales trends that took place and the prices paid for these homes from 09/2014 to 2015. THINKING OF BUYING A HOME IN LAKEPARK GARDEN HOMES? IT’S CERTAINLY A SUBDIVISION I’D STRONGLY RECOMMEND A PRE-PURCHASE HOME APPRAISAL TO AVOID OVER PAYING. Those that paid Read more

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