mid day check in
mid day check in
02-08-08, 12:50 PM
#4
Been working on residential appraisals today. I realize now that banks have a very tough time coming to terms that some foreclosures are beyond repair, and they lost some $$$ from that mortgage.
On the plus side, tis a good time to buy if you can afford to w/ all the short sales (foreclosures).
On the plus side, tis a good time to buy if you can afford to w/ all the short sales (foreclosures).
02-08-08, 01:01 PM
#6
Oh- I was refering to BPO's... Basically- a quick appraisal of a foreclosure requested by a bank. Just finished one on some dump in Rochester. Last mortgage was for ~$175K a few years back, and now its probably worth ~$90K or less (more or less the value of the land). I know that if the city were to check the place out, it would be condemned, then promptly torn down.
02-08-08, 01:04 PM
#7
lol I love BPO's... I was given one for a manufactured home that was literally rotting from the inside out. It had been abandoned for some time, all faucets left running... What drywall was left was black with mold... The carpets were covered in several inches thick of mold and it was just a stewing health hazard... And they were trying to give that to my company as a listing once we completed the BPO...
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02-08-08, 01:18 PM
#8
Sounds pretty bad. I've yet to see anything that bad. Last place was probably a drug house over the last few years. There was mold on the walls, exposed septic system, junk everywhere -inside and out, several scrap cars and parts in the yard, moss on the warped roof, exposed electrical outside.... I cant believe 2 people are still residing there.
Been listening to this internet radio station for the last few months... enter any artist/song and it will make a station with that genre of music.
www.pandora.com
Been listening to this internet radio station for the last few months... enter any artist/song and it will make a station with that genre of music.
www.pandora.com
02-08-08, 01:23 PM
#9
That's crazy! I like www.hopecore.com they stream Christian hardcore/punk/alternative/metal music. It's baller! They play a lot of bands I like... And it's the only Christian music I can tolerate. Stuff like MychildrenMybride; Oh, Sleeper; Underoath; Emery; As Cities Burn; Fallstar; Norma Jean; The Almost; there's a whole list of the bands they play on the site.
02-08-08, 01:39 PM
#13
Well it's typically hard to start if it has sat for more than a week... But my battery is smaller than stock and I can tell my starter is getting weak... So it's pretty much tough to start every time now... But worse after it sits a while cuz it will flood. I think I have a bad injector seal
02-08-08, 01:47 PM
#14
Full Member
Been working on residential appraisals today. I realize now that banks have a very tough time coming to terms that some foreclosures are beyond repair, and they lost some $$$ from that mortgage.
On the plus side, tis a good time to buy if you can afford to w/ all the short sales (foreclosures).
On the plus side, tis a good time to buy if you can afford to w/ all the short sales (foreclosures).
02-08-08, 01:52 PM
#15
Full Member
Sorry, premature post there, I got a little too excited, should have read the whole thread, to see you were doing BPO's. Tough time for selling right now. My office is completing about 5-7 REO appraisals a week right now.
02-08-08, 02:07 PM
#16
Yeah it's a slow market for Appraisers and everyone in the market in general, although with the recent interest rate drop a lot of loan officers are getting requests for refinances... But us agents and the appraisers are pretty slow with nothing really selling. I had two deals supposed to close this month, one fell thru due to the land (very odd reasons for non-warrantable property) and the other is progressing well. More people are beginning to buy and list, but still not enough to really boost the market. Chedstar, what is your area of appraisal? Do you only cover vancouver area? I have a friend who owns an appraisal company (Integrity Appraisal) and he covers all of Western Washington 
So he stays plenty busy and actually does a very impressive job of studying and being familiar with the entire Western Washington market...
So he stays plenty busy and actually does a very impressive job of studying and being familiar with the entire Western Washington market...
02-08-08, 02:20 PM
#17
Full Member
We cover the Portland metro area; generally following the counties on the I-5 corridor and those around Portland. I have heard of Integrity, where are they located?
02-08-08, 02:31 PM
#18
They are based out of Everett, WA. Covering every county west of the Cascades in WA. I think there are 4 appraisers altogether working for Integrity, that includes Chris, the owner.
Chris actually came out and appraised a house for a client of mine last week. Said business has been somewhat slow, but its starting to pick up for him. He's had appraisals every day so that's good. Great guy too. Was in a LeTip networking group with him for a while before I resigned from the Home Maintenance company I was managing that was a member of the group
Chris actually came out and appraised a house for a client of mine last week. Said business has been somewhat slow, but its starting to pick up for him. He's had appraisals every day so that's good. Great guy too. Was in a LeTip networking group with him for a while before I resigned from the Home Maintenance company I was managing that was a member of the group
