My New Blog

As we move into the summer months, I have to say, its as busy as ever during the summer months. This year unfortunately, we are completing more REO appraisals more than ever. As I shopped around the country for prices of standard appraisals, I found huge discounts in California for an appraisal. Here in Hawaii most offices have not regressed and still charge around $500.00. My company has always been for the borrower or client to save money. This summer I am keeping all my standard single family and condo appraisals at $400.00 on the island of Oahu, Honolulu County. As I market to mortgage companies and banks, I get the reaction that, they don't care what the appraiser charges, they make the borrower pay anyway, so why should they care if I'm $400, and the other offices are $500. This always amazed me that in this day with the economy issues with the fuel, food, and just about everything we buy is higher, that mortgage companies don't look to save someone else some money to better there name and reputation. Word of mouth and business reputation is gold. Our company of professionals never want to let that money factor get in the way. I will always be the better priced appraisal company no matter what states we are practicing in. Some say , you get what you pay for and thats absolutely right. A full professional Appraisal of your single family residence or condominium at an affordable price. I'm happy we have a staff that accepts that and believes in high quality, low cost appraisals that will keep Real Value Solution Appraisals in the markets for years to come.

Mahalo for stopping by.

Aloha,

The process of the review is to solidify the previous appraisal report completed by another appraiser. This is where I receive a report from a lender that was completed by another appraiser either in my county or state. Here in Hawaii I receive reports from appraisal companies in the state as I can easily travel to outer Islands on a field report. In California and Colorado I do whats called a desk review. After reviewing numerous appraisals around the state on all islands, I have to say, Am I the last honest appraiser in the State of Hawaii. One of the last.  A report of real property by an appraiser is the opinion of value for that subject based on a few guidelines by USPAP.  (Uniform Standards of Professional Appraisal Practice). I love the stats that we get from the Board of Realtors in sales, Median, trends, increasing/decreasing/stable markets, local papers, and an appraisers due diligence in analyzing a market area. I thought all these were taught in classes to Residential Appraisers of all levels. Apparently some were sleeping during these studies. When you look at an area where a home was built in 1970 and is 1,500 sf of living space and sold last year for $530,000 and now this year a similar homes are selling for $440,000 in the subject area. Would you consider that a market thats increasing? Hmmm. No!  Does it help to massage the truth a bit? No! I get the feeling some appraisers think only a few will ever see the report they turned in. After experience with several Lenders/Banks, that appraisal goes through many hands. with a click of the mouse on PDF format it can be sent to anyone. I've been specializing in review work the past few years and this blog is for local appraisers in the State of Hawaii. A Duck is a Duck, deferred maintenance is visible from the street. and check the external factors that may effect value. I know everyones opinion is different and respect that. Where it becomes almost criminal is the way some have looked away from obvious problems in a SFR/Condo. On the positive note, most of the appraisals I review are outstanding with credible support of value and I'm sure you know who you are and the company your with. Some though, massage the appraisal to death!! need to examine the ethics class again. Its always nice to have business, just keep the business real. This normally wouldn't be a rant, however, Ive been noticing a trend with some reports I have reviewed here in Hawaii. Appraisers, Keep it real, honest, and accurate. If this blog offends, then maybe check yourself, I may have hit a nerve or one of your appraisals.

Mahalo

Here in Hawaii we have a few obstacles when we think of our home. Weather, Bugs, and High cost of maintaining that home. It is necessary for the homeowner to be on top of the weekly, monthly and annual maintenance of your home. When its time to refinance your home or sell it, Folks get picky about every little thing about your house... Flooring, paint, roofing, windows, lighting, Solar or no solar, air conditioning, ceiling fans, I'm sure you get my drift. Most important is the body of the home, Frame, trusses, roofing, sub floor and post and piers/foundation. When we correct cosmetic features of the home, its nice on the outside. To really dig into your investment have a home inspector/construction contractor/building engineer come out and check the body, same as you would a physical. New home development has been steady in Hawaii, however, most homes are over 20 years and really starting to show damage from the weather, sun, and use of the home. I bring this up due to the fact that when someone like me comes out to inspect your home for a lender. The lender wants to know everything about that home, market area, trends, and most of all the overall condition of this hundreds of thousand dollar home. Proper maintenance takes care of all of the problems with a home that could hinder your loan process. For example, we all know it could rain buckets here in hawaii so after a storm, clear out any standing water from your foundation, check your gutters and downspouts for clogs that would back up water on the roof or side of your home, If an area keeps getting saturated in the home after a rainstorm, find out the problem to prevent mold. The problem is water trickles in the smallest holes. Ant holes, pin holes, small breaks in that old shingle roof. Take a slow walk around your home once a month and check for any start to a water saturated problem. Before a storm, check your gutters and downspouts and clear out any leaves/branches. Ensure if your on a hillside that the runoff has a clear path away from your home, check windows and frames for any leakage down the frame into the walls. All this could save you Thousands of $$$.

Good luck and protect the investment you work so hard to keep.

Mahalo for stopping by.

Aloha

Here in Hawaii we have a few obstacles when we think of our home. Weather, Bugs, and High cost of maintaining that home. It is necessary for the homeowner to be on top of the weekly, monthly and annual maintenance of your home. When its time to refinance your home or sell it, Folks get picky about every little thing about your house... Flooring, paint, roofing, windows, lighting, Solar or no solar, air conditioning, ceiling fans, I'm sure you get my drift. Most important is the body of the home, Frame, trusses, roofing, sub floor and post and piers/foundation. When we correct cosmetic features of the home, its nice on the outside. To really dig into your investment have a home inspector/construction contractor/building engineer come out and check the body, same as you would a physical. New home development has been steady in Hawaii, however, most homes are over 20 years and really starting to show damage from the weather, sun, and use of the home. I bring this up due to the fact that when someone like me comes out to inspect your home for a lender. The lender wants to know everything about that home, market area, trends, and most of all the overall condition of this hundreds of thousand dollar home. Proper maintenance takes care of all of the problems with a home that could hinder your loan process. For example, we all know it could rain buckets here in hawaii so after a storm, clear out any standing water from your foundation, check your gutters and downspouts for clogs that would back up water on the roof or side of your home, If an area keeps getting saturated in the home after a rainstorm, find out the problem to prevent mold. The problem is water trickles in the smallest holes. Ant holes, pin holes, small breaks in that old shingle roof. Take a slow walk around your home once a month and check for any start to a water saturated problem. Before a storm, check your gutters and downspouts and clear out any leaves/branches. Ensure if your on a hillside that the runoff has a clear path away from your home, check windows and frames for any leakage down the frame into the walls. All this could save you Thousands of $$$.

Good luck and protect the investment you work so hard to keep.

Mahalo for stopping by.

Aloha

Most inspections, ah I call it a walkthrough, I don't like "Inspection"  ok walkthrough, here are some thoughts before the appraiser comes to visit.

Have your home clear of clutter, I'm not saying move everything out, just clear of boxes, storage items around the kitchen area. Know that the appraiser may take photos of the Kitchen, Bathroom and Living or family room. Its not really a requirement for interior photos.  Lenders caught on to reports with photos so now its the norm.

Have the exterior free of debris around the walkway or cut/trim trees around the home. This gives the lender a full view of the home. Remove all vehicles from the front of the home.

Pictures show damage as well so if there is something hidden, please do not ask the appraiser not to mention it. Lenders want all the information they can so they can make an educated decision about the thousands of dollars they are approving for a loan. If your home needs repairs, let the Mortgage company Loan Officer know as there are different Loan programs out there for rehab type loans. A straight up Refi or purchase, the home should be well maintained. If possible, make repairs before your walk through and have receipts ready.

Mahalo for stopping by.

Next month I will have information on why we compare the most recent sales in your neighborhood to your home and why you need proper maintenance.

Aloha,

As you know, some markets are in a declining trend as others are gaining momentum. Make sure you do your Due Diligence and get the straight facts of a Market Analysis with a standard 1004, Single Family Residential Appraisal or a 1073, Condominium for your next investment. With the right information, $400.00 does not seem to steep for investments worth thousands. Oahu, Maui, and Kauai, homes are in different phases of the market trend. You owe it to your financial portfolio to spend the effort to make sure your investing in a winner.

Aloha,

With the market changing in Honolulu as well as Maui and Kauai counties, it may be up to you to do your Due Dillagence for a purchase and get a Market analysis or a standard 1004, Single Family Residential appraisal or 1073, Condominium. This gives the buyer a good definition of market trends, subject area values, and knowing that your high priced investment is worth it. The price of these appraisals are $400.00 as used for your investments. Don't be stuck with home in a falling market. Be 100% sure your making the right choice.