| Subject | Date Asked | Expert |
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| Remodel question | 10/10/2008 | Jim Root |
Q: Jim, I am considering remodeling my house to add a small half- bath. One of the few options to do ...
A: Hey BOB-- Wow, you've got a good memory! Some 20 years ago, HUD/FHA's "Minimum Property Standards ...
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| Definition of structures for appraisal purposes | 10/10/2008 | J.R. Cabai, SLA |
Q: I'm pending an appraisal on land, which contains two diplapidated mobile homes which are not ...
A: Jennifer, I am not sure I understand your question as it is written, so let me answer it in this ...
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| New home Appraisal | 10/9/2008 | J.R. Cabai, SLA |
Q: I recently put a contract on a home. Since then, the base price for the home has dropped $30,000 ...
A: Erica, Good question. It would be tough to appraise a home today for more than what the same home ...
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| home improvements a good investment | 10/7/2008 | Jim Root |
Q: We bought our first home last year. It's a 1600Sq ft 3 bedroom, 2 bath with a formal living ...
A: Tiffany-- I guess I didn't make myself as clear as I should have regarding the Kitchen remodeling ...
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| home improvements a good investment | 10/5/2008 | Jim Root |
Q: We bought our first home last year. It's a 1600Sq ft 3 bedroom, 2 bath with a formal living ...
A: "Home improvements a good investment?" Would you accept a "Yes, No & Maybe" answer? "Yes, certain ...
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| manufactured appraisal | 10/1/2008 | J.R. Cabai, SLA |
Q: We have been trying to get a FHA loan but the people doing the appraisal keep saying there are no ...
A: Teri, First, I suggest you get a copy of the appraisal. That should give you plenty of information ...
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| Appraisal Fraud | 9/24/2008 | Jim Kreider |
Q: We signed a contract to have a brand new home built in a new neighborhood in Phoenix in July 2005 ...
A: In response, my first question to you would be, why did you wait until now to review your original ...
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| fha refi appraisal mistakes | 9/23/2008 | Jim Kreider |
Q: We had our house apparaised for a refi fha loan. A few years ago our house was appraised by the ...
A: Your only recourse is to hire a competent local state ceritified appraiser to inspect your home, ...
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| Impacts of going from 2/2 to 1/2? | 9/22/2008 | Jim Kreider |
Q: My wife and I own a fixer home that is 2 bedrooms and 2 bathrooms in 972 sq ft spread across two ...
A: Your question requires a lot of local market research. You should hire an appraiser to answer your ...
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| "As if finished" construction loan appraisal | 9/20/2008 | J.R. Cabai, SLA |
Q: I have never done an "as if finished" appraisal. It is a foreclosed property in bad condition. Do I ...
A: Janet, I have never used the term "as if finished". First, you need to determine the purpose of ...
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| one & two family homes | 9/16/2008 | J.R. Cabai, SLA |
Q: What constitutes a two family home? We have a single family home with a one room mother-in-law ...
A: George, What this boils down to is determining the Highest and Best Use of your property. There ...
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| Texas Tax Deed | 9/16/2008 | Jim Root |
Q: I've discovered that the property next to mine will be coming up for auction soon as the taxes have ...
A: The rules on this vary from State to State, County to County, Town to Town.You need to check with ...
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| Appraisals | 9/16/2008 | Jim Kreider |
Q: Is there an industry standard margin of error for residential realestate Appraisals? ANSWER: Hi ...
A: Peter, If there is a large difference between the two appraisals, then an expert must be called in ...
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| Appraisals | 9/15/2008 | Jim Kreider |
Q: Is there an industry standard margin of error for residential realestate Appraisals?
A: Since an appraisal is based on a research of factual data, there is no "margin of error". The data ...
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| cost of appraisal and is it legal.. | 9/9/2008 | Jim Root |
Q: Could you please comment on the current costs of an appraisal? My lender sent me a sheet to sign ...
A: The "Builder's Rate" of $380 for a Residential Appraisal is a reasonable rate in most Real Estate ...
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| market analysis adjustments | 9/9/2008 | Jim Root |
Q: Is there anywhere on the internet to get adjustment prices for comparative market analyses? For ...
A: Have you noticed that Home Values in various Real Estate Markets across the nation are very ...
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| Land appraisal | 9/8/2008 | Jim Kreider |
Q: I have a single family home on a 75X200 lot. I want to sell the home with a 75X112 land and sell the ...
A: If you are unable to find vacant land to compare to, then you will need to derive your value by the ...
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| Appraising HUD Apartment Complexes | 9/5/2008 | Jim Root |
Q: Jim, I am a state Certified General Appraiser who has appraised several HUD apartment complexes ...
A: KEN-- Contact the HUD Field Office nearest you and obtain the telephone number of the HUD ...
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| Maryland appraisals | 9/5/2008 | Jim Kreider |
Q: Hope this makes sense, but do you know if it legal to have competing loan companies do their own ...
A: As for Maryland laws, I do not know if there are any laws broken in your scenario. However, as for ...
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| Land value | 9/4/2008 | Jim Root |
Q: How do I find out what land is selling for in a certain area?
A: Realtors and Appraisers are usually quite willing to discuss ,in general terms, potential land ...
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| older homes | 9/3/2008 | J.R. Cabai, SLA |
Q: Why is it that an older home built in 1955 be for sale at a very high price when all of the wiring, ...
A: Esther, Home prices are dependent on location and neighborhood influences. Therefore, what one ...
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| real estate - relocation | 9/2/2008 | Jim Root |
Q: I am grieving my taxes & have been told that I bought my property for well under assessment. I ...
A: Welcome back, BOYD-- Typically, Relocation Companies have a specific Realtor they work through in ...
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| Tenant in Common question | 9/2/2008 | Jim Root |
Q: I am a tenant in common, along with two others. There is little in common, as there has been a ...
A: MARC-- The Dictionary of Real Estate Appraisal,3rd Edition, the Appraisal Institute, defines ...
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| Real Estate Pricing | 8/30/2008 | Jim Root |
Q: My wife and I own a 2008 newly rebuilt fully finished four level townhouse in Brewster, New York ...
A: Real Estate Professionals know that "the most expensive Home in a neighborhood loses value" and ...
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| type of valuations | 8/28/2008 | Jim Kreider |
Q: could you discribe a few types of valuations found on a home appraisal. Thank you
A: Good Morning Debbie, There are three approaches to value involved in residential appraisals: 1) ...
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| taxes relocation company | 8/27/2008 | Jim Kreider |
Q: "Hello Jim, I am grieving my taxes & have been told that I bought my property for well under ...
A: I do not know what state your property is located in, however the following answer is the tyipcal ...
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| real estate - relocation | 8/27/2008 | Jim Root |
Q: I am grieving my taxes & have been told that I bought my property for well under assessment. I ...
A: Although it would be best if FAIR MARKET VALUE and ASSESSED VALUE were always one-and-the-same, ...
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| FHA appraisal | 8/26/2008 | Jim Root |
Q: We have a 12 year old ranch style home. We have a full basement. We have had excessive rain here ...
A: Is excessive rain and a wet basement a common occurrence in your location? Or is this recent excess ...
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| collateral property lien | 8/25/2008 | Jim Root |
Q: I am in default of my loan and have cotten and notice of a "possible lien against the collateral ...
A: DONNIE-- Other than to urge you to seek the advice/guidance of a California-licensed Attorney ...
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| Adding Value to the property | 8/25/2008 | Jim Root |
Q: Currently I own about 93 acres of land, 60 some tillable and the rest pasture, timber and ravine. I ...
A: DAVID-- I'd need to know a lot more about the property, the proposed pond,what buyers will pay for ...
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| fha buyer | 8/25/2008 | Jim Kreider |
Q: I am looking at a bank owned property ready to go into foreclosure, the house has been trashed, no ...
A: Good Morning Mary Ann, FHA does have programs that allow purchases of properties that are in need ...
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| appraisal | 8/23/2008 | Jim Kreider |
Q: i recently paid for an appraisal which to be done for fha and when the appraiser turned it in to the ...
A: Unfortunately, as the borrower, you do not have much recourse as you are not the appraiser's client. ...
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| Real Estate Appraisal | 8/22/2008 | Jim Root |
Q: We recently had our house appraised as part of a refinancing process. The real estate appraiser ...
A: Hey BRIAN-- An Appraiser is required to inspect the Subject Property and describe all of the ...
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| home comparison | 8/21/2008 | Jim Root |
Q: When a New Jersey professional appraiser compares you 27 year old home with 4 or 5 other homes in ...
A: FOLLOW-ON TO ANSWER BELOW & QUESTIONERS COMMENTS ON RATING: With the added info you provided along ...
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| Appraisal report using same neighborhood comps | 8/19/2008 | Jim Kreider |
Q: Recently had 2 appraisal reports completed that "considered but did not use" very recent sales comps ...
A: Good Morning RJ, There are certain standards and criteria that an appraiser must use in determining ...
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| Appraisal Misrepresentation of Property | 8/18/2008 | Jim Kreider |
Q: An Appraiser misrepresented my property location and stated that it was in a flood zone and is not. ...
A: Good Morning Portia, You will need to retain an attorney and provide the evidence you have to the ...
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| Owens Cornin Basement Finishing System | 8/14/2008 | Jim Root |
Q: We just purchased a home in Connecticut. The house was built in 1966 and the property tends to be ...
A: WOW! "..and the property tends to be on the wet side."--"..full basement with a sum pump."--"...pump ...
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| flood vs non flood value | 8/11/2008 | Jim Root |
Q: when purchasing acreage should the flood plain acres be priced the same as the non flood plain? I ...
A: JULIE-- Above you first refer to VALUE, then to PRICE! Although they're "related," there's an ...
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| Market Value | 8/8/2008 | Jim Root |
Q: My Moher passed away and we are selling her house through a lawyer. The lawyer is dragging her feet ...
A: Hey JOHN-- So sorry for your loss! Although 2 years have passed since Mom left you, I'm sure that a ...
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| real estate taxes | 8/2/2008 | Jim Root |
Q: Root, We are considering bidding on a home currently for sale in Hartland Connecticut. My question ...
A: PENELOPE-- As Assessor's Offices across the Nation each operate under regulations & guidelines ...
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