Another over inflated value - 01/27/11 08:21 AM
I just finished reviewing a condominium appraisal in Davenport, Florida from October of 2005.  Another appraiser who over inflated the value by $50,000!   When you have to go 6+ miles for comps, and ignore 222 closed sales within a 5 mile radius…you are REALLY working hard to hit that sales price!

Appraisers are not supposed to ‘hit a number’ or ‘support a sales price’.   They are to be auditors of the transaction. 

Imagine if this buyer, who now has lost this unit to foreclosure and perhaps faces judgments and financial hardship as a result, could have been told, … (12 comments)

Work full time on the 'job' - part time on the fortune - 01/10/11 09:25 PM
Jim Rohn is one of my favorite motivational speakers.  His quote, "I have found a way to work full time on my job, while working part time on my fortune" has always stuck with me.
As real estate professionals, we can call it a "business" if we want, but if we have to show up every day to feed the fire, it's still a JOB. 
And that IS OK!  I am glad for my job!  I just won't lose site that I need to create a 'business' which feeds itself - a self perpetuating cash flow machine!
For me, my secondary project is … (3 comments)

Stalling foreclosure? Florida is a top runner - Stay in Your Home - 01/07/11 10:53 AM
I recently read an article in the Florida Realtors online blog (http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=252076 ) about how Florida is #2 in the nation for longest foreclosure process.  Can you guess who is #1?  New York!  

I lived in New York too and remember their court processes and how often they favored the tenant, the homeowner, etc.   I guess on one had this is a good thing because it can protect the consumer, giving them longer to make other arrangements, try to resolve the situation, etc.   

On the other side of the coin, however, is the investor.  Weather that is … (2 comments)

 
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Richard D Ferris Florida State Certified (FHA) Appraiser

Clermont, FL

More about me…

AmcAppraisalsinc.com

Address: 10535 Summit Lakes Ln, Clermont, FL, 34711

Office Phone: (877) 789-5249 x 1

Cell Phone: (347) 669-4266

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