Many homes are purchased with FHA financing, and unless you’re buying a brand new home, there’s likely some cosmetic issues that need to be fixed...sometime. What does FHA say about these minor issues, commonly referred to as deferred maintenance? Keep reading and find out! But first, let’s briefly define what we’re talking about. When [...]
This week, we appraised a home in Lake Forest. And, with every appraisal we do, we ran stats and market conditions to see what the market is currently doing, as well as what it has been doing over the past several years. We saw some interesting trends coming out of Lake Forest and wanted to [...]
Manufactured home. Double Wide. Trailer. Sectional home. Mobile home. Modular home. These words, for decades, have been used at one point or another, by various individuals, to describe different homes. Sometimes, this can be because of different names used in different parts of the country. Most of the time, though, it’s because there’s so much [...]
Are you planning on selling or buying a home built before 1978? If so, you need to be aware of the possibility of lead-based paint. Since lead poisoning is a serious health concern, checking for the possibility of peeling or chipping paint is a must for any appraiser completing an appraisal for FHA, VA, or [...]
Previously, I wrote a two-part series about how Location is King in real estate. Well, just as location is of utmost importance when it comes to real estate valuation, communication is most important in the day-to-day dealings between homeowners, Realtors and Appraisers. In this very important blog post, we dive into how all parties in [...]
A creed can be defined as “a set of beliefs which guide someone’s actions.” Appraisers are bound to a set of standards, like most professionals, but on a much deeper level, everything we do is based on three guiding principles: that we will be independent, objective, and unbiased. Without these three qualities, we cease [...]
So you listed your house, and in only three short days, you secured a buyer! Yay! The buyer was already pre-approved, so in just a few more days, the appraiser came, and in less than a week the appraisal was done. Wow, things were moving fast! But wait. You contracted with the purchaser to sell [...]
We recently did an appraisal on a home that was under contract. During the inspection portion of the appraisal, we were discussing with the homeowner the next steps of the appraisal process. We’ll send in the report, and you should hear from your lender soon after. If you have any questions, contact your lender. And [...]
It’s time once again for the Year-In-Review post. This is a look back at the previous year’s real estate sales in Daviess County, Kentucky. And what a year it was! The Owensboro, Daviess County area of western Kentucky continues to be a very strong real estate market. In this post we’ll look not only [...]
So this week my 14-year old twins got to tag along with dad on an appraisal. How fun?! Do you ever get to take your kids with you to work? I hope so. It’s such a fun experience! Anyway, the appraisal we did wasn’t just an ordinary appraisal. It was a drive-by. No not that [...]
