Comments for Home Appraisal News

Comment on Where can I sell or have an appraisal on a rare document? by Landlord

Landlord — Fri, 11 Dec 2009 03:34:59 +0000

It does not have his signature, it has a copy of his signature. Unless the signature is truly ink and you can prove he actually touched it personally it is nice, but not rare, it was mass produced. Your local VA administration might know of museums looking for pieces, but without an actual signature don't expect it to be highly valuable.
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Comment on Where can I sell or have an appraisal on a rare document? by zeynoo

zeynoo — Fri, 11 Dec 2009 03:18:59 +0000

auctions.
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Comment on Appraisals By Craig – Real Estate Appraiser In Chicopee, MA by TheAdultDemographic

TheAdultDemographic — Wed, 09 Dec 2009 11:43:22 +0000

I love it. Finally …
I love it. Finally, another appraiser embracing technology. My name is Benjamin. I work as an AT (20 more reports to AL) in Beverly Hills. I would love to see if we could increase some long ditance referals. My supervisory is an AG with a great attitude. I subscribed to your channel, and will be coming up with my own you tube appraisal channel. Keep up the great work. Maybe think about renting studio time to do some green scrren work. See ya!!

Comment on What to offer the bank on a foreclosere property? by Janet P

Janet P — Tue, 08 Dec 2009 19:37:59 +0000

The bank will certainly appraise the house, expect to pay around 95% of the appraised value.

Ignore Zillow. Since appraises are not public information your 156k is some other number, maybe taxes, ignore that too.

Have your agent run a comp report and bid from that information.
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Comment on What to offer the bank on a foreclosere property? by Franklin

Franklin — Tue, 08 Dec 2009 19:22:59 +0000

Simply put, make an offer that they can resist. I’ve learned some techniques on dealing properties under foreclosure from http://www.ReverseThatForeclosure.com

Hope you find this interesting and helpful
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Comment on What to offer the bank on a foreclosere property? by acermill

acermill — Tue, 08 Dec 2009 18:58:59 +0000

The lender involved will definitely get an appraisal, as well as a broker’s opinion relative to the market value of the property. The lender will want to get market value or very close in a sale. From your POV, you need to find a real estate agent who will give you current market value for guidance. On such a property, market value is determined by what the house should sell for, if all repairs were made. Then the cost of the repairs is deducted from that market price.

That the bank only bid up to $136,000 at the auction is irrelevant. That’s all it HAD to bid to get the property under its ownership. Apparently no one else wanted to bid more, so the bank bought it back at its highest bid.

Disregard Zillow as an accurate source. More than not, it’s pretty far off from proper market values. I’m not sure what you mean by ‘property appraisers, but if you are using any sort of tax assessment valuation, THAT doesn’t necessarily reflect market value either.
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Comment on What to offer the bank on a foreclosere property? by godged

godged — Tue, 08 Dec 2009 18:37:59 +0000

The lender will obtain an appraisal, a BPO and a value assessment from the Realtor they eventually choose to list the property. The Zillow value is not a factor, and I don’t know where your $156,000 value comes from. All you can do is make your offer and see what happens. But bear in mind that there are a bunch of eyeballs doing the exact same thing you are doing, looking for the magic bullet offer to get the house.
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Oregon Realtor

Comment on MIAMI-DADE COUNTY TEAM METRO STRIKS AGAIN!! by chargermopar

chargermopar — Sat, 05 Dec 2009 15:43:27 +0000

Wanna bet he put …
Wanna bet he put those there himself?

Comment on Home appraisal valuation question? by Expert Realtor

Expert Realtor — Tue, 01 Dec 2009 20:32:59 +0000

You are generally correct…things like foreclosures, short-sales, and other distressed properties are NOT supposed to be used for an appraisal, and too many unknowledgeable people in the industry think that they should be.

However, there is ONE exception to the rule.

If you live in a neighborhood where a substantial number of homes ARE distressed properties, then an appraiser has no choice but to reflect that in the value.

California has been particularly hard-hit with with downgrade in the market due to tons of interest-only loans and declining property values.
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Many, many years experience as a Realtor, mortgage broker and former underwriter…and always followed by my 7 "thumbs down" Y!A stalkers

Comment on Home appraisal valuation question? by LOCKNLOAD1

LOCKNLOAD1 — Tue, 01 Dec 2009 20:03:59 +0000

If you’re after a lower rate only and not interested in any cash out you may want to look into a modification of your loan. Even if you’re not late on your payments you can usually still qualify, I know this because I did one on my home.
It lowers your existing fixed rate or locks in your adjustable rate a little longer so your value recovers and your payment remains manageable.
All of this without the high cost of a refinance.
Worth looking into… let me know if you need to post another question for more information.
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