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Appriasals..... It is just one person's opinion!

By
Real Estate Agent with Lion Real Estate 0149496

Appriasals in Fresno CA -  It is just one person's opinion!

 

My husband just passed his real estate exam and is waiting for his license to come in.  I have been having him do odds and ends for me so he learns the business.  I have a new escrow for buyers who are getting a FHA loan on a flip property so there has to be two appraisals.  I made the appointments with both apparisaers and asked my husband to open up the property for both appraisers.  He told the appriasers that he was new and waiting for his license and asked them if they minded if he followed and took notes.  The only thing I asked of him was ask the appriaser if there are any conditions.  First apprasier called out 2 items, second appraiser called out 2 different items.  I was concnerned that the heater did not work and the first appraiser said it goes on and that is all that FHA requires the second said it goes on but has to work also.  Luckily it was something I had mentioned to the seller prior so they were in the process of fixing anyways.

 

So just to confirm, everyone reads values, conditions, etc different.  Be on your toes and be aware of market conditions.  When buying in Fresno CA, please call us with any questions.

Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Stephanie....I always tell my buyers appraisal is more of an art than a science.  Two appraisers will likely come up with two different values.

Feb 26, 2012 09:46 AM
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

It may be only an opinion but to the banks it is only one that counts

Feb 26, 2012 11:07 AM
Winston Heverly
Coldwell Banker Access Realty - South Macon, GA
GRI, ABR, SFR, CDPE, CIAS, PA

I'm with Joyce, if your deal is tight, you better arm yourself a little better than just opening the door. We are all human, so sometimes you sell the facts...

Feb 26, 2012 11:29 AM
Stephanie Greenberg
Lion Real Estate - Fresno, CA
Fresno Homes For Sale

@Christine, so true, it is more of an art than a science.

@Joyce and Winston,  when it comes to values, this is oh so true!.  I knew we would not have a problem with value on this particular one.  The irony I was writing about is how two appraisers can read FHA guidelines and come up with two different sets of conditions.

Feb 27, 2012 09:39 AM
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Stephanie, appraisers, real estate agents, BPO's, they'll all come up with different results. The worst part is, they set them in stone. There's no changing anyone's mind. I don't like that part.

Feb 28, 2012 10:25 AM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

It's only 1 person's opinion, it's just the only person the bank is listening to.

Mar 09, 2012 04:58 PM
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Colorado; Spring is here in the Rocky Mountains

May 10, 2012 01:23 AM
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

 

fairfax county real estate agents Jan and Steve Bachman

 

 

Welcome to an new step in your marriage relationship Stephanie...the huband wife team!

Jul 23, 2012 10:50 PM