We should be recovering quicker.  We have more buyers than properties to sell.  Interest rates are low.  There are still people out there with solid careers.  So, what's going on?
Back in "the day", sellers would set a price.  If buyers felt their price was fair, they would agree to sell the property at that price.  There may be a bit of negotiation, but ultimately, there would be established a fair market value.  What happened?
Sellers still ask a fair price.  Buyers are willing to pay when the price is fair.  They come to terms and escrow is opened.  Then, the … (2 comments)

appraisals: MY ONE-WOMAN CAMPAIGN AGAINST HVCC - 09/09/09 04:19 PM
In my effort to be the one-woman advocate for a serious change or moratorium of the HVCC, I thought I would share with you an article I just read about this nemesis of the real estate industry. It is an excellent article pointing out the history, intent and resulting difficulties with the new guidelines.  If you have been confused about the HVCC, just click here to read all about it...then write your congress person!

appraisals: HVCC 101 - A WHOLE NEW REAL ESTATE INDUSTRY WORLD!ARGH! - 08/09/09 03:49 PM
There has been a lot of confusion about HVCC and what it means to our industry.  I would like to present a "basics" blog to explain the repercussions of these well intentioned guidelines.
First: a glossary of termsHVCC - Housing Value Code of ConductAMC - Appraisal Management Company Andrew Cuomo - New York Attorney General
Who:In an attempt to ensure lenders could not put undue pressure on appraisers to value a home higher than appropriate, Andrew Cuomo took it upon himself to create a new set of guidelines referred to as HVCC.  He also informed Fannie Mae and Freddie Mac that if … (16 comments)

appraisals: WHAT DO YOU DO???????????????????????????????????????????????? - 07/27/09 04:45 PM
So here I am, accepted offer, 5 ready and willing buyers, seller happy with the results, and it looks like I am going to have to pull the property off the market for 3 months and hope for some comparables to close in the meantime that help us.
In a matter of 36 hours, I put a property on the market and had 5 offers, 4 over the asking price.  We accepted the highest price and put the second highest offer in back up position. The first buyer backed out strickly out of cold feet. The second one wants the property … (17 comments)

appraisals: HOW ARE VALUES EVER GOING TO GO UP? - 06/10/09 04:30 PM
We have a problem.  We are creating the perfect storm.
As Erin Attardi's post "Erin Attardi's Short Sale Experiment" reflects, there are areas where the majority of available properties are short sales (and I suspect a few foreclosures thrown in).  In the new HVCC regulations, appraisers cannot be in communication with Realtors, agents or lenders. It is more important for comparables to be recent than accurate. Allow me to elaborate.  At one time, appraisers would take into account that a property was a foreclosure or short sale when they were doing their appraisal and adjust accordingly.  If we, as Realtors, felt that inappropriate … (13 comments)

Paula Swayne, Realtor-Land Park, East Sac & Curtis Park -Dunniga (Dunnigan, Realtors, Sacramento   (916) 425-9715) Rainmaker large

Paula Swayne

Realtor-Land Park, East Sac & Curtis Park -Dunniga

Sacramento, CA

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Dunnigan, Realtors, Sacramento (916) 425-9715

Address: 4215 Freeport Blvd, Sacramento, CA, 95822

Mobile: (916) 425-9715

Fax: (916) -329-1501

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