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May 28, 2008 at 1:37 pm #587061
inactiveMemberI don’t want to use the same fellow I used six years ago. So, I would welcome any recommendations and/or insights for thorough, ethical and highly experienced appraisers who provide comprehensive reports in a timely fashion at a reasonable cost.
As always, thanks in advance to the Reader’s who Recommend.
January 11, 2009 at 10:52 pm #625457
charlabobParticipantbump — does the lack of responses to the dood mean there aren’t any such animals? :-) CB wants to know too.
January 11, 2009 at 11:56 pm #625458
beachdrivegirlParticipantWhen I go to work tomorrow I can go through my moving files. I was able to put a reference in for an inspector awhile back from doing that.
January 12, 2009 at 12:05 am #625459
charlabobParticipantI found that thread, with much more info — just added to the first one google gave me. Thanks!
January 12, 2009 at 12:19 am #625460
alki_2008ParticipantCB – are you looking for an appraiser or a home inspector?
January 12, 2009 at 9:31 pm #625461
charlabobParticipantAn appraiser — I want to get a realistic idea of what it’s worth (which, in my view, means what someone would pay for it and, since no one is buying houses, the current answer is $0.) :-)
January 12, 2009 at 9:39 pm #625462
beachdrivegirlParticipantYou could try to do a lease to own option once you get a value. Just a thought….
would you like me to review my records for hte appraiser we used while back?
January 12, 2009 at 9:42 pm #625463
charlabobParticipantThanks BDG — I actually just plan to continue live here with my sweetie and my cats, but it seems like a good time to find out what the alleged value is.
January 12, 2009 at 10:40 pm #625464
inactiveMemberDon’t mean to hijack the thread you guys, but does anyone use Zillow anymore? Had that gone out of favor before the current dive? I found it very odd that last week I received an email from them telling me my house had actually increased in value. I’d made no changes to the profile at all. Had not even looked at it for almost nine months.
So, an increase? Huh? Made no sense to me.
January 12, 2009 at 11:16 pm #625465
alki_2008ParticipantHi wsd, there are a few Zillow imitators out there now – and they can all vary depending on the algorithms they use.
I like to check Redfin, as that site will show the values from all three “home value” sites. The only trick is to make sure the sold homes (of whatever time period your home sold) is selected in the search options.
CB, thanks for the clarification. I got a bit confused because your initial reply to bdg sounded like you found appraiser recommendations in the linked forum post, but all I’d seen there was inspector rec’s.
I don’t even want to know what my place would appraise at now. :-p :-(
January 12, 2009 at 11:42 pm #625466
charlabobParticipantZillow is good for laughs; it always was — even before the crash. I added “spa tub” to my house’s description and the zillow value went up $30K — NOT new bathroom; simply new tub. Imagine if I bought, say, new faucets???
Alki, I just have to know where it is now. (Should I buy new faucets or wait?) One of my neighbors bought about a year ago and their house, according to zillow, has dropped almost 100K.
January 13, 2009 at 12:25 am #625467
inactiveMemberOk. Just wanted confirmation that it was as goofy as ever. Appreciate the input peeps!
And, yes Alki_2008, I’m on Redfin too. I’ve been checking them out regularly and am confident about their info.
Thanks!
January 13, 2009 at 12:43 am #625468
beachdrivegirlParticipantHow do you check your home value on Redfin?
January 13, 2009 at 1:02 am #625469
inactiveMemberBDG –
I was just referring to current comps. If there is an appraiser function on there, I haven’t found it or used it yet.
January 13, 2009 at 2:17 am #625470
beachdrivegirlParticipantJanuary 13, 2009 at 3:51 am #625471
AdmiralJanewayParticipantAsk a loan officer at one of the banks for a recommendation. They may know of a reputable appraiser who works in the area.
January 13, 2009 at 4:34 am #625472
charlabobParticipantGood idea; thanks AJ!
January 13, 2009 at 5:09 am #625473
cruiserMemberEh no, I wouldn’t be taking any recs from a bank for an appraiser. It’s the tight hold banks have over appraisers that has led to a lot of head nodding and winking, which helped drive the loan market to where it is now if ya get my drift.
January 13, 2009 at 5:33 am #625474
inactiveMemberSome banks more than others, right Cruiser?
January 14, 2009 at 12:15 am #625475
FoxyDiamondMemberGreetings! I have a couple questions regarding appraisals. I just contacted my bank as I am thinking about refi the bank told me I would need to spend $750 for an “application” fee but that was mostly for the appraisal process & if I did not pass it would cost me $400. Is this sound kosher for doing a refi? Sorry I do not mean to dilute the topic please forgive. Also, does the appraisal involve the inside of your house or no? I understand why a bank would want to make sure that the $$$ is in the house but in my case the house is pretty old & not in that great of shape however, it is my lot that is multi-family zoned & I regularly get cash offers for selling to folks who want to get rid of my lil’ casa & throw up a condo. Needless to say n o t interested but I AM interested in a refi (any recomendations for a loan) so that I may have a bit of spending cash! Thanks all!
January 14, 2009 at 1:57 am #625476
alki_2008ParticipantFirst – I agree that appraisals during a financing application can be sketchy. They tend to be exactly the same as the purchase offer price…which is lame. However, it’s usually banks that hire appraisers – so they probably DO have a long list to choose from. With that list, you could probably check the BBB or something to see that they don’t have complaints. Not sure how to know if one’s ‘good’ though. The other option is to talk to a realtor, as if you’re interested in selling…but not sure they’re all that un-biased either. Checking nearby comps of similar properties on your own is probably just as reliable. :)
Foxy…a fee for an appraisal is legit. Some banks charge more than others though, and the cost you noted seems reasonable. The appraiser gets paid whether or not you qualify, so that’s why the bank wants the $400…and if you don’t qualify, then the bank doesn’t have to do other paperwork that constitutes the remaining $350. Some appraisers will want to go inside, some will just do a drive-by. Just keep it cleaned up and don’t worry too much about it.
If you want to refi to get a lower rate (and/or lower payments) in the long term, then that’s cool. If you already like your loan terms and just want a chunk of cash to spend, then you might consider a HELOC. I’m starting to look into that as a way to get some cash for the equity in my house, as I kinda like the loan I have now. I’ve heard rumors that HELOC rates are better that mortgages (but I haven’t checked things out yet).
Sorry for the slight thread detour. :)
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