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Showing posts from December, 2015

It's the Most Wonderful Time of the Year

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This time of year is special.  Yes, there is commercialism but it is also a time full of good will.  Even though you see the craziness of Black Friday shoppers, you will also see those giving of their time by serving at soup kitchens, homeless shelters, giving to food banks, giving gifts to children and those in nursing homes.   I love this time of year when I can see good, kindness and peace in our world.  There just seems to be a little extra good will in the air. It is also a good time for reflection and review.  Here is a look at our year in review.

It has been an eventful year for Appraisers  and those in Real Estate and Mortgage Lending.  Here are a few things that we have experienced in 2015:
Collateral Underwriter: We began the year with the January Implementation of Collateral Underwriter.  Appraisers went through an adjustment on all appraisals performed that are for mortgage lending geared toward Fannie Mae.  Fannie Mae uses appraisal data and compares the data to other appra…

Taking a Look at New Construction

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New construction has been in the news and is a big part of the housing recovery.   In North Texas, we are seeing growth and a revival of new construction.   Overall, Texas has been showing steady increases as many companies are relocating to Texas bringing jobs and driving demand for housing.


Appraising New Construction


Have you ever wondered how appraisers can perform an appraisal on new construction?  Appraisers can appraiser homes that are not yet built.  This is done by using what is called a "Hypothetical Condition" in appraising.   A hypothetical condition is defined as - that which is contrary to what exists but is supposed for the purpose of analysis- per The Dictionary of Real Estate Appraisal.   When we appraise new construction, we are appraising a property that is not yet in existence.  We are provided the builders plans and specifications which we use to identify what the property will be once constructed.  We will then find similar sales of properties to determi…