OK, so I had a great experience with the VA the other day. They are reputed for being a little difficult and connecting with them can require an investment of time, but that is just the fabric of VA loans. It is of course worth every minute when you need to keep a mortgage deal… Continue Reading Florida Home Appraisals – Everybody in the Pool!
I guess this was sort of inevitable. FHA is an entity that gave little credence to credit scores and has traditionally been more forgiving when it came to loan approval guidelines. Then you add in a little mismanagement, some subprime sludge and a dash of politics and you’ve got a pot of gold that just ran dry.
Update Your Sales to Keep Comps Current Are you entering all your sales into MLS in a timely manner? If not, PLEASE make sure you do so going forward – and here’s why: Appraisers pull data from a variety of sources when researching comparable sales for their reports, and the availability of sales… Continue Reading MLS Sales Data and Appraisals
For buyers, this means a flood of newly renovated properties available for purchase. For the neighbors who are enduring the impact of overgrown and neglected homes in their area, they can look upon the investors as a property rescue squad of sorts. The collateral advantages are also passed along to other sellers. Improved properties impact the value of their comps and therefore beefs up their appraisal (and curb!) appeal.
A mortgage loan requires substantiation of so many seemingly random bits of proof; but they are ultimately synchronized to meet an objective. Having the data that keeps the flow of detailed communication is not intended to put a buyer through the wringer – it is so they come out on the other side of a deal with the loan product that suits their means.