There always seems to be some confusion when it comes to appraisals and HUD homes regarding the insurable code that was assigned to it. For every HUD home listing, the appraiser that did the appraisal determined what it’s going to take for the property to meet HUD’s minimum property standards (MPS). The home has also had an inspection preformed […]

When doing FHA appraisals the appraiser is required to do what is called the “Head and Shoulders” test. The appraiser is required to inspect the attic and basement/crawl space to at least the head and shoulders level. The appraiser should use a flashlight or similar device to illuminate the space being inspected; photographs are required […]

Last year the Appraiser Qualifications Board made changes to the criteria for becoming an appraiser. Starting in January 1,2015 all licensed appraisers wishing to upgrade their license to become a certified and general appraiser will be now have to have a bachelor’s degree from an accredited college. First, I’m all for raising the standards of appraisers, however, […]

At first glance it would seem pretty harmless to have just one piece of siding missing on a house, but that’s unless the birds decided to turn it into their own hotel. All along the back of this house were several holes that the birds burrowed through the sheathing to build their nests. This would […]

For every appraisal done on the Fannie Mae Form 1004 appraisers have to figure out what’s happening with current values (the past 12 months) within a given properties neighborhood and/or market area. Short term market trends differ from long term trends, but Fannie Mae tends to be more concerned with what’s been happening within the past 12 months. Given the […]

Who invented Sheetrock is kind of a trick question, because Sheetrock® is really a product brand invented by United States Gypsum Company, and patented in 1917. However, Augustine Sackett is recognized as the the actual inventor of gypsum board (drywall) in 1894. History Timeline Here’s a brief timeline of the development of drywall as we know it […]

The Tale Of A Low Appraisal It all started on a mid-afternoon day in the middle of January (last year), with the wind howling and the air so cold that your spit would freeze before it hit the ground. The phone was quiet, the dog was snoring, and then I heard the ding of an incoming email. Yahoo! An […]

The last housing trivia post was about who invented the first flush toilet, so I felt it was only fitting to unravel the mystery of who invented toilet paper. Heck, what good is a toilet if you don’t have a fluffy roll of “TP” to go with it. First, I was surprised that there were several […]

I recently finished an appraisal for the sale of a hobby farm that turned out to be fairly difficult. The biggest challenge was to find comparable sales that had a similar out building. This was no ordinary building; it was over 4500 square feet with an insulated shop area, tack room, and eight horse stalls. Typically […]