We had an Appraisal ordered by our lender from a National Appraisal Service company in Indiana for $500 bucks that contracted an appraiser in Arlington WA to appraise our home in Carnation - Indiana paid Arlington $180 bucks! We applied for a refinance loan on our home. Over the last 14 months we had 6 appraisals. $385K - $340K - $379K - $309K after the $309K appraisal we added a lower half bath and laundry plus 80 sqft to the interior living area. 2 Months ago we had another appraisal that came in at $313K and the interior square footage remained the same as if we added ZERO? I paid for an "Appraisal Review" by an independent local appraiser in Kirkland. It was discovered that the $313K appraisal cut out the following valued added features of our home:
1. Interior staircase access between the lower and upper story!
2. Missed noting a Lower half bath!
3. Missing Additional interior SQFT from a lower level laundry and half bath added.
4. $40K of upgrades to the house and landscaping
We submitted the "Appraisal Review" to the mortgage broker & they protested the $313K appraisal - The Servicer ordered another appraisal which came in at $320 showed 1525sqft instead of 1472sqft and much more.
I think this type of nationalized control is like Eminent domain and it takes equity away from all types of real estate - gives banks control over refi's, new loans and much more! The consumer is getting the shaft – Guess who gets the Gold Mine. - Just some things that make ya go HUM? PS: get Review Appraisals if you or your clients think their appraisal is not accurate.
HUD, Shortsales and REO's are still a good way to purchase commercial & residential income. The process takes patience, access to good financing is best and cash buyers will ultimately do much better in this market.
Commercial and residential income investments can be a good way to hedge up your passive income portfolio.
How are others in this group staying up and optimistic in the Seattle Tacoma investment field?
Do you find Social Media and online video PR brings in sellers buyers and investors?
Check these links out:
http://www.allSEATTLElisted.com
http://www.allSHORTSALESlisted.com
http://www.allREOSlisted.com
Free to list property meet buyers and investors and close deals.
Enjoy the week, rick pezzner ceo broker laptop™ real estate, inc. www.VURE.com
We are looking for Commercial and Residential new and pre owned licensees cal or email anytime.
Call 888.633.7333 you will be connected directly live to our office and broker. We assist Shortsale, foreclosures, REO's first time buyers and relocation clients - serving the Greater Puget Sound. Seattle Waterfront
2009 is a Great time to build your real estate business.
Look for brokerages that allow you to think out of the box and:
Adds more to your income bottom line.
Supports you.
Hosts Networks and collaborates with other local, national and international agents and brokers.
Money saving support services - i.e mobile technology and office supply savings etc.
PR Graphics and Web site set up and support services.
Collective effort to helping like minded team members.
Create the Sunny Side of the Street.
Wishing you all the best 2009
rick pezzner, broker
laptop real estate, inc.
5400 carillon point b5000
kirkland wa 98033
M: 425.333.6004
E: pezz2@mac.com
O: support@laptoprealestate.com
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