- thoughts from Central Florida

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Real Estate Appraiser - is Richard Ferris. I am a Florida state certified real estate appraiser serving clients in Lake county, Orange county, Osceola county, Polk county, Seminole county, and parts of Volusia county. My blog concerns local market activities, general thoughts on my real estate world, and technology tips to be more productive as a paperless office.
I recently read an article in the Florida Realtors online blog ( ) 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 proc...
I just got a request to do a desk review.   Just one problem.  I am the appraiser! So yes - had to decline that assignment, with the ordering party apologizing and thanking me at the same time!  Always a funny situation! So now the real question is this : How will I do in the eyes of someone else...
As I am completing so many reviews these days, for appraisals completed in 2006 and 2007 – it is a curious finding to come across a really poorly developed appraisal……only to find that the appraiser no longer has a valid license. In one sense, it makes the job easier – as I don’t really have to ...
A couple of years ago, a prominent lender here in Florida filed bankruptcy and owed me for ONE appraisal fee.   Needless to say, I did not collect that fee, and basically just chalked it up to a loss.  I was certain the homeowner for whom I had performed the appraisal, was far more inconvenienced...
I remember when I first moved to Florida full time.  It was in 2003, before the BOOM in real estate.  I owned a home in upstate New York which was worth about $40,000 at the time but the taxes were outrageous!   Couple that with winters where it was common for 6 feet to 10 feet of snow to accumul...
I downloaded the latest 3rd quarter report for Orlando today, from the National Association of Realtors and saw the very 1st graph which caught my eye:  Click to view large Download this gallery (ZIP, undefined KB) Download full size (52 KB)   I have been seeing of late, some increasing trends fo...
Today's Florida Realtor News highlighted a story about a couple of mortgage brokers who were charged with fraud. On paragrpah stated "Although 16 named individuals took part in varying roles in the complex network - and all are ch...
I was asked today by a friend and local Realtor, how she could go about challenging a recent appraisal which was flawed. This was an FHA appraisal which was valued about $14,000 less than sale price.   Now I have no problem telling someone that the value just isn't there.  But there are other th...
    Is this 'house' really worth $315,000? Insist on a real appraisal      Some lenders and property owners are relying on Automated Valuation Models (AVMs) to determine property values. These computers are located in cities far away and they rely on data gathered from a hodge podge of sources (...
In a recent Fannie Mae Selling Guide update – the GSE addressed this issue of lenders who have been reducing opinions of market value: In the past, Fannie Mae did not provide requirements concerning lenders making changes to the opinion of market value reflected in the appraisal report. During Fa...

Richard D. Ferris

Florida State Certified (FHA) Appraiser
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