Real Estate Industry Blog » Appraisal

Why Appraisers Hate Real Estate Agents

Hank Miller — Tue, 22 Nov 2011 01:03:49 +0000

The reasons why appraisers hate real estate agents (many of them anyway) are both varied and lengthy; almost all have to do with agent ineptitude and ignorance of how appraisals are completed and how data – specifically comps – are selected and utilized. I’m an active certified appraiser since ’89 as well as an active broker; I see [...]

Occupied Distressed Homes Worse for Values than Vacant Homes

Hank Miller — Fri, 28 Oct 2011 04:39:37 +0000

Many areas of Atlanta are experiencing the same issues with foreclosures and distressed properties as others around the country. Distressed homes (foreclosures – short sales – loan mods) and bank owned homes obviously hurt neighborhood value and appeal. Now a study conducted in Cleveland seems to assign tangible impact levels; while far from definitive, it [...]

Another Head Scratching Filthy Foreclosure

Hank Miller — Thu, 01 Sep 2011 13:13:54 +0000

Here’s another nasty foreclosure, the kicker on this one is that it looks like this after clean out. I walked this and seriously wondered how you can live in something like this – living outside in a tent would be cleaner. From an appraisal stand point I called for a total gut job on this [...]

Appraisal Issues? Blame Washington

Hank Miller — Tue, 23 Aug 2011 13:24:17 +0000

Once again appraisers are in the cross hairs, the incessant screaming is that we’re “killing deals” and hampering any real estate recovery chatter is heating up. Low appraisals, incorrect appraisals or appraisers not being familiar with the area in which they work are the topics of conversation around the real estate water coolers. Most of [...]

How to Challenge a Low Appraisal

Hank Miller — Wed, 03 Aug 2011 03:19:44 +0000

As if there weren’t enough land mines to dodge and punji pits to avoid in the current Atlanta real estate market, we continue to see a steady increase in the number of appraisal issues. Low appraisals are most common with refinance loans but over the last year appraisal challenges continue to increase on the sales [...]

Mortgage Fraud in Atlanta – Alive and Very Well

Hank Miller — Mon, 01 Aug 2011 23:01:37 +0000

Mortgage fraud in Atlanta is alive and quite well. Despite all of the meddling from Washington and their involvement in the real estate business, fraud continues. CoreLogic completed an in depth 2010 study that was very interesting and is worth the short read. Although a few months old, it’s amazing (in a bad way) to [...]

Distressed Homes Muddy the “Real” Data

Hank Miller — Fri, 29 Jul 2011 14:54:33 +0000

As has been discussed here and in many other places, the housing statistics that are ubiquitous and continually pounding the life out of everyone must be kept in context. The fact is, unless the data is broken down piece by piece to ensure accuracy and legitimacy, it probably isn’t reliable. Everyone agrees that the real [...]

As Atlanta Foreclosures Grow so does the Mold

Hank Miller — Thu, 21 Jul 2011 12:36:34 +0000

As has been mentioned at least a few hundred times, I’m a broker as well as certified appraiser. Since ’89 I’ve appraised and reviewed thousands of homes, currently I’ve been completing foreclosure assignments all over the Metro Atlanta area. No agent knows the market as well as an appraiser; we are in the field daily, [...]

Understanding Appraisals and Appraised Values

Tina Fountain — Wed, 13 Jul 2011 12:39:01 +0000

An appraisal is required by your lender when you apply for a mortgage or refinance your home. It is merely a report prepared by a certified property appraiser which determines the value of your home based upon the size, lot size, upgrades and amenities, age and room additions. The borrower is required to pay for [...]

Real Estate Losses Surpass the Great Depression – And Why the News Isn’t All Bad

Brian Davis — Mon, 20 Jun 2011 15:48:14 +0000

It’s official: real estate markets nationwide have lost more over the last few years than they did during the Great Depression. Specifically, from 2006 to the first quarter of 2011, nationwide real estate markets have lost roughly 33% in value, compared to the 31% in value lost from 1929 to 1933. And the worse news: [...]