Remove Blog Remove Loan Officers Remove Market Value
article thumbnail

The Housing Market Has Become Like the Pymatuning Spillway

Cleveland Appraisal Blog

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. I also developed the replacement value, and I had comparable land sales from the neighborhood. Does this seem healthy to you? www.anchor.fm/cash-appraiserstats.com.

article thumbnail

What’s The Leaven Causing Home Prices to Rise Today?

Cleveland Appraisal Blog

Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value. I remember loan officers telling me that I needed to be “creative” with my appraisals.

Inventory 243
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Loan Officer’s Guide to Appraisals Part 9: New Construction

Riverfront Appraisals

Welcome to the September edition of our blog series, The Loan Officer’s Guide to Appraisals. This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process. This month’s blog post will be all about new construction appraisals.

article thumbnail

The Loan Officer’s Guide to Appraisals, Part 1:  The Final Inspection

Riverfront Appraisals

Welcome to the very first post in our all-new series The Loan Officer’s Guide to Appraisals. In this blog post, we’re starting with the end. The post The Loan Officer’s Guide to Appraisals, Part 1: The Final Inspection appeared first on Riverfront Appraisals.

article thumbnail

4 reasons you’re better off selling your house this spring [INFOGRAPHIC]

Cornerstone

are officially equity-rich, occurring when the combined loan amounts of these homes falls to 50 percent or less of their estimated market value. Once you find a new home you love, your loan officer will be ready and waiting to fast-track your loan to closing. Not only that, but 17.8 Want to move even faster?

Sellers 68
article thumbnail

Help your Borrowers Navigate Recent Home Appraisal Trends

Genworth MI Blog

On the other hand, they’re important for buyers because they may identify physical concerns that either require more qualified inspections or repair and confirm that they are paying the fair market value. Never miss a post by subscribing to the Enact MI Blog! We’ll send you our most up-to-date topics right into your inbox.

article thumbnail

3 Types Of Appraisals Realtors Should Be Aware Of

Birmingham Appraisal

For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes. If you were buying a home and the loan officer told you that they needed to get an appraisal this is what they were talking about.