housing market: Do not watch this video if you have high blood pressure! - 04/05/11 01:11 PM
If you have ever wondered if big corporations are playing fair…..you SO have to watch this clip from CBS’ 60 Minutes.
 http://tv.yahoo.com/60-minutes/show/28491/videos/24782614
 

 
 
All one can say is…..WOW.
 
Now, after you pick your jaw off the floor – GET EMPOWERED!   If you are facing foreclosure…..FIGHT!

 
(4 comments)

housing market: Hey New Yorkers - is it time to buy in Florida? - 12/13/10 07:26 AM
I remember when I first moved to Florida full time.  It was in 2003, before the BOOM in real estate.  I owned a home in upstate New York which was worth about $40,000 at the time but the taxes were outrageous!   Couple that with winters where it was common for 6 feet to 10 feet of snow to accumulate – and it was an easy decision to make the move to Florida!  Sure, the median priced home was around $200,000 – but taxes were WAY lower (no state income tax, lower sales tax and lower real estate taxes!) and from a … (8 comments)

housing market: Are prices increasing or recovering? - 11/29/10 03:30 PM
I downloaded the latest 3rd quarter report for Orlando today, from the National Association of Realtors and saw the very 1st graph which caught my eye: 
Click to view large Download this gallery (ZIP, undefined KB) Download full size (52 KB)
 
I have been seeing of late, some increasing trends for home sales.  Yet when you look at the longer view - it is quickly apparent that the markets are really just getting back to ground zero! 
The report showed a lot of really good data, which I have been tracking ‘on the ground' in real estate appraisals here … (1 comments)

housing market: Appraisers Must Be Competent? - 07/08/10 08:42 AM
A recent article from Mortgage Orb referenced the latest Fannie Mae letter to lenders, stating that
"appraisers must have the "requisite knowledge" to perform a professional-quality appraisal for the specific geographic location and particular property types"
So rather than bring an appraiser from out of the county, or from 4 counties away to appraiser something where a local appraiser exists....lenders (via AMCs) should select local, competent appraisers.
Part of the article stated:
Fannie further noted that it does not allow the same flexibility as the Uniform Standards of Professional Appraisal Practice, which allows an appraiser who does not have the appropriate knowledge … (6 comments)

housing market: Not everyone moves out - 06/25/10 10:33 AM

I came across this at one of my inspections the other day for a recent foreclosure.  The home wasn't SO bad...but the pool.....can you say "yiiiccckkk!!"  ?
What impact on value does a pool in this condition have for prospective buyers?  Would the site of this turn off a buyer beyond the "how much to repair" question?!  Mental images play a big part in purchases!
Suggestion for the bank - pay the money to drain, clean and treat this sucker!  You will reap HUGE payback in this market for a clean, blue pool as compared to ......."Yiiiicccckkkkk!!!"
(8 comments)

housing market: Walking away: Moral, Ethical, Just Business? - 05/12/10 09:48 AM
This is a great video from CBS' 60 Minutes about the growing trend of people walking away from their home and mortgage, even though they can afford to stay - meaning they have enough income to stay.
Watch CBS News Videos Online
A couple of things which caught my eye about this video, is the struggle of conscience people have and the steps they must take within themselves to embrace the "it's just a business decision" stance.
I myself struggle with the tension between personal responsibility for choices made in a market and contract situation and the business decisions to cut … (6 comments)

 
Richard D. Ferris, Florida State Certified (FHA) Appraiser (AmcAppraisalsinc.com) Rainmaker large

Richard D. Ferris

Florida State Certified (FHA) Appraiser

Clermont, FL

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AmcAppraisalsinc.com

Address: 10535 Summit Lakes Ln, Clermont, FL, 34711

Mobile: (347) 669-4266

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