I saw this sign yesterday while driving through the Anatolia neighborhood in Rancho Cordova. What do you think of this marketing strategy?
Can I Use an Appraisal for a Loan Modification? (Question from Search Engine)
Someone found this blog last night by typing in the question, “Can I Use an Appraisal for a Loan Modification?” In case the answer was not found, I’d like to shed some light on the matter. The answer is maybe. When you are doing a loan modification you’ll need to consult with your agent, attorney or bank and do what they say. If you already have an appraisal in your hands that demonstrates fair market value for your property and it was recent (and reliable), you may be good to go. However, if you have an outdated appraisal, it might not be acceptable for your loan modification needs since the market has changed so rapidly over the past several years (and months). An older real estate appraisal is often no longer reliable because the market has very likely shifted down or up since the time the appraisal was completed (down most of the time lately).
I hope this helps to answer the question. Please let me know if you need any clarification and if there is anything I can do for you. I am very familiar with doing loan modification appraisals for attorneys and home owners, so I am glad to provide my services to households in the Greater Sacramento Region. Feel free to contact me at 916-595-3735 or www.lundquistcompany.com or LundquistCompany@gmail.com
What types of repairs does HUD require for an FHA loan in the Sacramento Area?
I find myself doing quite a few FHA appraisals these days in light of the enormous popularity of FHA loans in the Greater Sacramento Region. Sometimes properties are able to easily meet FHA minimum standards, but other times houses might need just a little work (or quite a bit) to bring them up to the level required by HUD.
The primary concern of HUD as it pertains to a property is with safety, soundness and security. The basic gist is that for HUD to guarentee a loan, a property must not have any issues that present a threat to safety, security or soundness. Minor cosmetic issues don’t fall under this category, so a crack in a window or a stain on carpet or a missing doorknob are not a big deal for FHA loans (so long as there is no threat to safety, security or soundness). Other condition issues though such as peeling or chipping paint, an inoperable heating system or a leaking roof are a big deal to HUD because they do impact safety, security or soundness.
At times it is easy to think that appraisers are being knit-picky over minor issues that could easily be overlooked while inspecting a property, but take a look firsthand what FHA requires for repairs (click HERE).
If you ever have questions about FHA-related required repairs or FHA real estate appraisals in the Sacramento Area (multiple counties surrounding Sacramento), you are welcome to contact me at 916-595-3735 or www.lundquistcompany.com or LundquistCompany@gmail.com Lastly, you may find HUD to be very helpful when you call (800)CALL-FHA
Commercial Property Tax Disputes in the Sacramento Region
I have talked on this blog about my property tax appeal company as it relates to residential properties, but now I want to make it a point to mention commercial properties in the Sacramento Region.
What’s the difference in requirements for residential vs. commercial property tax disputes? Not much. The process and timeline for contesting property taxes for commercial properties in the Sacramento area is the same as residential. The exact same application is filled out (Application for Changed Assessment) and the County Assessor asks the commercial property owner to provide the same thing as would be provided in a residential tax dispute – evidence for a true opinion of market value as of January 1, 2009 (that’s where we come in).
Our company at SacramentoTaxAppeals.com handles residential and land property tax appeals for the bulk of our work, but we also collaborate with an experienced General Real Estate Appraiser who handles the commercial properties ordered through our company. Please contact us today so that we can understand your situation and the type of property you have so that we can figure out the depth of work necessary for your tax appeal needs. A full commercial appraisal may not be necessary (we all know how much commercial appraisals can cost). Call us today at 916-595-3735 for more information.
Keep in mind that the time-frame to dispute commercial property taxes in Sacramento County is July 2, 2009 to November 30, 2009 while in Placer County and some surrounding counties the time-frame is July 2, 2009 to September 15, 2009.