Google has made me stupid. I know there are folks who say my stupidity pre-dates Google, but I’m pretty sure I’m correct. Google tells me how to get from Point A to Point B. It tells me the latest batch of brews at my favorite pub and Cee Lo Green’s real name (Thomas DeCarlo Callaway). Don’t know who Cee Lo is? Google him. Continue reading
Over the past few weeks there has been a lot of discussion about the future of Fannie Mae and Freddie Mac, along with the direction of FHA. This is important to all of us in the Housing Industry, as currently the US Government either insures/guarantees or purchases about 90% of all Mortgages originated today. I think we are all in agreement that we would like to see Private Capital come back into the marketplace, but at this time that is coming very slowly. There is no doubt that some changes should take place, but timing is going to be critical. Having the Government pull back to soon and the Housing Recovery would be slowed even further. Continue reading
Revaluation (aka reassessment) seems to be the talk of the town lately and the questions it has raised are plentiful:
- Should I appeal my property revaluation or not?
- Am I being treated fairly?
- Is it true that Fair Market Value, Appraised Value, Insured Value and Assessed Value can be the same? If so, isn’t that a rare occurrence?
Let me start with the last question first. I want consumers to know that the Insured Value is probably the highest and should be given that replacing something is the most difficult task to complete. Insured Value is all about replacement costs, not fair market value. If your home burns to the ground, you need to replace and rebuild.
Now, let’s talk revaluation. Continue reading