Ask Your Appraiser

March 7th, 2016 11:18 AM

In order for an appraisal to remain accurate, it must efficiently reflect the current market. Whenever the appraisal is desired for an accurate point of reference, it must be able to show the present state of the market. While there is not an exact expiration date on appraisals, many lenders will only accept an appraisal report that is about 60-90 days old. After that, there are most likely sufficient changes in the market that require an adjustment in the report. If you need a change within this time frame, many appraisers will make adjustment for a small fee.

If an extension is needed on the report, some lenders will allow it with the proper paperwork and documentation. However, in a market that is noticeably declining the time in which the report is valid becomes significantly shorter.

The maximum period of validity for an appraisal is six months, as the market will definitely have changed and it will take more than minor changes on a report to reflect this. 


Posted in:Appraisals and tagged: Appraisals
Posted by on March 7th, 2016 11:18 AMLeave a Comment

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February 10th, 2016 12:24 PM

If you are looking to buy or sell a home for the very first time, seeking assistance from a realtor will be a relationship worth thoroughly developing. Face it, you’ll probably be spending a few weeks and countless hours with this individual to get results in your favor; so it’s important to develop an alliance that’s formulated down to the nitty-gritty. Real Estate experts suggest that it’s best to uncover all sorts of details about your prospective realtor prior to hiring them to be your right-hand man. After all, you don’t have to choose the first realtor you meet.

So in order to ensure a positive experience your first go round, here are 15 questions you should consider asking your realtor:

  1. Can you explain this process to me?
  2. What experience do you have?
  3. Do you work solo or as a part of a team?
  4. May I check your references?
  5. How do your realtor fees work?
  6. How will you market my home?
  7. How will you keep me informed?
  8. Is this area growing or declining?
  9. Can I have a copy of the data collected from the Comparative Marketing Analysis for the area?
  10. How many clients are you currently representing?
  11. How often will you communicate with me?
  12. At what price do you anticipate my house will sell in the current market?
  13. What will be my closing costs?
  14. What do you know about home loans?
  15. How many homes have you closed on in my neighborhood?

Posted in:Tips and tagged: AppraisalsReal Estate
Posted by Michael Anthony on February 10th, 2016 12:24 PMLeave a Comment

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There comes a time in everyone’s life where you’re forced to take on the role of a rookie. Just think about your first day of school—your anxiety level was probably shot through the roof, worried about who you’d befriend and how you’d cope being away from home. Though your first try at learning the ropes was an indescribable experience, you were ironically able to get into the swing of things. You then learned new strategies that helped with making convenient, thoughtful decisions along the way. 

Whether you’re moving off your friend’s couch or finally leaving the apartment you left your mark on throughout college, buying your first property is a huge step. Kudos to you! Almost identical to the first day of school, it’s extremely important to prepare, educate yourself, and be patient. 

Because it can be difficult to know what to expect, we're here to help you with your homework.

Here are 5 tips every first time home buyer should know: 

Save Money


Before you think about owning property, save as much money as you can. Closing on properties require a lot of upfront costs: such as moving expenses, down payments, new furniture, etc. 

Create A Budget


The budget is a critical component when buying a home. Be sure to construct one that corresponds well to your monthly income so the mortgage payments are feasible. Ideally, one would already have a sense of how much they can afford before submersing into a deal. states: by calculating debt-to-income ratio and factoring in a down payment, you will have a good idea of what you can afford, both upfront and monthly. 

Don't Create Any New Debt 


Studies show that if your debt ratio does not exceed .36 percent, take steps to reduce it before seeking out a lender. So first things first, stop buying new things. No need for car payments or getting bamboozled into opening up a new credit card to get .50 percent off your total at a retail store. And also, if it doesn't hinder your down payment, consider settling small debts. There's a goal to stay abreast of.  

Broaden Your Horizons


Yes, location is critical to the value of a home. Now that we have that out of the way, you may have to broaden your horizons simply because homes in your price range may not be available in your target area. This is where research comes in handy. Prepare a plan. If this is the place you plan to settle and start a family in, consider the school systems in the area, the value of the surrounding homes, and the community's development.  

Be Realistic 


First time home buyers often admit that the process is more tedious than what was initially expected. Give up the misconception that it will not be stressful, time consuming, and an overall hassle. Though you'll run into some bumps and bruises, continue to work hard to get the home that you want.  

Posted in:Facts and tagged: AppraisalsReal EstateHome
Posted by Michael Anthony on February 9th, 2016 4:42 PMLeave a Comment

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Happy Tuesday!

As we begin to gain momentum during our 15th year of service, we thought it best to implement a few changes. We’re switching some things around, and we’re excited for you to be a part of our monumental year. Be on the lookout, because there will be something new for everybody each week. We’re sending out news, tips, and trends to make both your day and life just a little easier.

Our first change: #AppraisalWeekly. Each week, we’re throwing our spotlight on a helpful book, app, podcast, or magazine that we feel you should check out. If you have any suggestions for an #AppraisalWeekly spotlight, please feel free to email us with your ideas.

Be sure to follow us on all social media for daily tips, facts, and overall relevant information.


Stay Tuned!



The (7L) The Seven Levels of Communication: Go From Relationships to Referrals

In this best-selling novel, Michael J. Maher chronicles the tale of a real estate agent who is forced to struggle through a down market. The agent, Rick Masters, manages to build a successful business during this time without advertising. The book showcases premium communication skills that undoubtedly come in handy in every industry, not simply real estate. 

Posted in:Appraisals and tagged: Appraisals
Posted by Michael Anthony on February 9th, 2016 3:31 PMLeave a Comment

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Filing bankruptcy can be an extremely stressful process. It dismally misrepresents who you are as a person, your future credit, and character. However, the road to a clean slate should be executed strategically with one factor at the top of the list
 an appraisal.

Appraisals By Michael  is providing insight to why it's necessary to hire an appraiser. 

What Is the Function of a Bankruptcy Appraisal? 

  • A bankruptcy appraisal is an assessment of all possessions owned by a person, including real estate and personal property. The bankruptcy court will use the appraisal to determine if a person has sufficient assets to pay his debts and what, if any, assets will be excluded from creditors.
  • A bankruptcy appraisal gives a person solid information about valuation, which helps to decide what type of bankruptcy to file for.
  • The appraisal should be completed by a certified company, who should then print and sign the report and provide a detailed description of the approach used to determine the valuations.

Posted in:awareness and tagged: Appraisalsdebtrelief
Posted by Michael Anthony on February 2nd, 2016 12:41 PMLeave a Comment

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