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appraisal: Housing Economy will not fully rebound until 2025 - 04/15/10 05:49 AM
The cities that saw the bubble housing boom in the first decade of the century—cities in California, Florida, Nevada and Arizona especially—won’t see the next big boom until around 2025 according to the financial services company, Fiserv. Fiserv expects other markets in the Northeast and Midwest to take a full ten years before price spikes equivalent to 2006 and 2007 return.
For most of the country some level of normalcy will prevail starting in 2011, but the recovery period will be prolonged almost everywhere in the U.S. Factors that will keep housing cycles from a more historic 10 year pattern are … (1 comments)

appraisal: Barclay’s Take on the Housing Market????? - 04/13/10 05:53 AM
While I'm not sure what they had for lunch, but housing "experts" at Barclay’s Capital are convinced that the worst of the housing market decline is over. A look at the 4th quarter earnings documentation from 20 national and regional banks provided the data that led to Barclay’s conclusion.
The banks all seem to agree that the housing market has stabilized in all but a few parts of the country. The weakest areas where further declines may be seen are Arizona, Nevada and parts of Florida.
Housing still constitutes an area where troubled asset portfolios still trouble many banks, but the … (0 comments)

appraisal: Mortgages to Exceed Value until 2015 to 2020 - 04/06/10 05:31 PM
First American CoreLogic has estimated that even in the healthier markets that are now beginning to heal from the steep price drops of the last three years, homeowners currently with underwater mortgages will continue to have mortgages that exceed value until late 2015.
By the 4th quarter of 2009 First American CoreLogic estimated that over 11.3 million residences with mortgages had negative equity. That’s 24% of all U.S. mortgages.
By using a subset of mortgage holders, CoreLogic was able to project the length of time it will take for the average homeowner to again reach positive equity. The typical borrower will … (26 comments)

appraisal: Appraisers Oppose Use of BPOs for Short Sale Valuation - 03/16/10 05:34 AM
Three national appraisal groups led by the Appraisal Institute have written to the Treasury Department in opposition to the HAFA guidelines that allow use of BPOs to price Home Affordable Foreclosure Alternatives program short sales. The coalition of appraisers believe that BPOs make fraud more likely in HAFA short sale deals and puts consumers and lenders at greater risk of receiving inaccurate valuations.
The Appraisal Institute and its peer groups believe all short sale valuations should conform to the Uniform Standards of Professional Appraisal Practice. The brokers and real estate agents who complete BPOs are generally not specially trained to meet … (3 comments)

appraisal: Moody’s Expects Continuing Home Price Decline - 02/26/10 05:41 AM
Moody’s Investors Service predicts another 8% decline in the housing market in many areas over the coming months. They blame the anemic Home Affordable Modification Program (HAMP) for failing to put a damper on foreclosure and the continuing escalation of foreclosure sales throughout the country for the continuing slide in home prices.
The national home price drop from peak to trough is expected to be 34%. The one bit of good news is Moody’s revised downward the expected total value decline. Previously Moody’s had predicted a 37% total decline. The bad news is, instead of the trough being reached in the … (4 comments)

appraisal: FHA Suspends anti-flipping Rules - 01/30/10 06:55 AM

As Ken Harney put it: "FHA is going to give the opportunity to kill three birds with one stone!"
FHA hoes to help low-downpayment homebuyers, investors who fix-up foreclosures, and communities burdened with too many bank-owned and foreclosed homes - all with one potentially far-reaching policy change.
FHA is revising its long-standing anti-flipping rules starting February 1 and just might score a hit with all three target groups. For many years, FHA has had a strict prohibition: It wouldn't insure a mortgage on a house if the seller had owned it for less than 90 days. The ban was a … (1 comments)

appraisal: Swimming Pools: Value Added?? - 10/16/06 11:20 AM
In Northern VA, swimming pools are most active late May through Labor Day. Then they spend the rest of the year collecting leaves, frogs and an occasional Labrador retriever in search of his next mallard. People who move here from Florida and California are always in search of the perfect house-pool combination, which is rarely available.
Yes, we have in-ground pools in Northern VA, but my question is: do they add value or liability? Over the years, out of many hundreds of Buyer Suspects in my car, I can honestly say that fewer than 10 wanted a pool. Without volunteering an … (11 comments)

appraisal: Appraisals Get Tough When Sales Slide - 09/17/06 05:18 AM
This is every agent's and seller's nightmare scenario: spend thousands sprucing home up, put it on the market, get an acceptable contract, find a new place to live, complete plans to re-enroll kids in new school, make arrangements to move and then the appraisal doesn't support the contact sales price! As a listing agent or buyer agent being asked for help in developing a price range for an offer, how do you value a piece of property when local home sales are down 20% to 40% from last year and all the trend lines are pointing negative?
Some appraiser are going … (6 comments)

 
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Dave Rosenmarkle

Arlington, VA

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Highland Realty

Address: 5317 Lee Highway, Arlington, VA, 22207

Office Phone: (703) 538-2566

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