Here is some helpful information on condominiums for FHA/HUD, whether you are in the Sacramento area or elsewhere. I wrote previously about FHA condo issues here. This is straight from HUD:

Effective on Monday, June 14, 2010, all condominium inquiries, telephone and email, must be submitted to the FHA Resource Center at: (800)225-5342 or by email at info@fhaoutreach.com. The FHA Resource Center will provide responses to general inquiries received from consumers and industry partners. Responses requiring technical knowledge will be escalated to the jurisdictional Homeownership Center for review and response.

Before contacting the FHA Resource Center, it is recommended that you use
the following resources to search for answer(s) to your question(s).

1. Check to see if your question is already included in the Condo FAQs currently posted on the web here (pdf).

2. To determine if a project is on the FHA Approved List or to obtain the FHA concentration please visit this web page and input the condominium project name or the Condo ID. It is recommended that only the first few letters be entered to return a complete list. If the project is not listed it will require FHA approval.

3. FHA provides the FHA Concentration percentage information on the Condo List Screen. If the percentage is not identified or incorrect, provide documentation to the jurisdictional Homeownership Center so that the system can be updated. This information would include the first two pages of the appraisal or a letter from the HOA providing the number of units in the project.

4. What is the process for obtaining project approval? For documentation and processing requirements, please refer to ML 2009-46B and ML 2009-46A, which can be found on this website (or directly as a PDF here and here).

Good luck everyone. I hope you find what you’re looking for. Make sure to read all the information from the above links. Keep me posted if there is ever anything I can do.

What does HUD say about water heaters? First and foremost, the water heater must work and must be able to do its job. This is not a revolutionary concept, but if there is no hot water coming out the faucet when there should be, then clearly there is an issue to be solved. Testing the water temperature and water pressure is something that appraisers do during an FHA property inspection. Secondly, if local code states that the water heater must be strapped, then HUD requires a strap. 

If you have any questions about FHA standards or FHA real estate appraisals in the Sacramento Region, give me a call at 916-595-3735 or shoot me an email at info@LundquistCompany.com.

www.SacramentoAppraisalBlog.com What does FHA say about water heaters?

FHA loans are the hot ticket in town these days, aren’t they? If you are involved in loans in the Sacramento Region, you probably find yourself doing quite a few FHA transactions these days in comparison to the past couple of years (I am certainly doing more FHA appraisals).

Since people sometimes ask me how an FHA appraisal inspection differs from a non-FHA appraisal assignment, I wanted to include a few differences below.  A non-FHA assignment could include some or all of the following, but an FHA inspection MUST include the following and more per strict HUD guidelines:   

• Test appliances to ensure in working order
• Test AC and Heat system
• Observe if paint is chipping, peeling, or flaking
• Test water (pressure, heat, smell, taste…)
• Observe the attic
• Observe the crawl space
• Check all electrical switches to ensure lights come on
• Check outlets to ensure they work
• Flush all toilets and run water in all sinks
• Take angled photos of the subject property
• And more….

If anyone has questions on FHA appraisals within the Greater Sacramento Region, give me a call at 916-595-3735 or see www.lundquistcompany.com