Appraisal

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, […]

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 […]

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 […]

Every appraisal for a purchase that is done on the Fannie Mae 1004 form, the appraiser is required to analyze the purchase agreement. Some say that the only thing that appraiser’s look for is the sales price so they know what number to hit (or some would say what number not to hit). While it is true […]