Market Value Appraisals for Home Owners, Sellers & Investors

If you are curious and want or need to know the value of your home or residential or income property before you sell or list to sell it,  the staff at Tanner & Associates will make it easy for you and provide a clear valuation to fit your particular needs. This will give you a realistic perspective of the value of your home/property before you buy or sell in an effort to secure a "fair price". Our residential and income property appraisals can also be used if you need to either negotiate a sales price or to secure primary or secondary financing from a bank or private lender. With a certified appraisal in hand you have a tool that will clearly state your property’s value to the lender, buyer or seller.

For potential purchases, a certified appraisal will not only give you a vlaue perspective but  also potentially reveal deferred maintenance items and other possible flaws, such as a crumbling or settling  foundation or mold issues so that you can make provisions for necessary "costs to cure" for whatever repair work may be required. This becomes powerful information and may very well put you in the drivers seat during the negotiation process to either put pressure on the seller to make the needed repairs to discount the value so that you can make these repairs.
 

MAKING HOMES AFFORDABLE

The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Homes Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels. The Making Homes Affordable Refinance Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. FHA- backed loans for the purchase of real estate as well as the refinancing of existing loans are a large part of this new program.

Per U.S. department of Housing and Urban Development Mortgage Letter 2008-39 (December 17, 2008), a new time line and eligibility criteria has been set for the appraisal of all FHA loans. Section 202(f) of the National Housing Act mandates that all appraisers chosen or approved to conduct appraisals of properties that will be security for FHA-insured mortgages must: (1) be "certified" by the State in which the property to be appraised is located; or by a nationally recognized professional appraisal organization, and (2) have demonstrated verifiable education in the appraisal requirements established by FHA. (Note that the term "state" as used throughout this Mortgagee Letter includes U.S. Territories.)

FHA appraisers must follow the strict guidelines and criteria set forth by HUD and adhere to the inspection and reporting requirements outlined in the HUD Handbook-4150.2. Additionally, all FHA appraisers must be listed on the current FHA Appraiser Roster and had a minimum license designation of "certified residential" (AR) appraiser.

Tanner & Associates Appraisals © maintains FHA-approved appraisers on staff, in order to provide you with qualified appraisal services for all FHA transactions. To verify an appraiser is listed on the FHA Appraiser Roster, please visit https://entp.hud.gov/idapp/html/apprlook.cfm. Our staff is experienced and trained in the special appraisal requirements of FHA loans and will provide you with outstanding service, so that you may take advantage of the new programs available to home buyers.

Each home appraisal we perform in California is conducted by a licensed/certified professional appraisal who is in good standing with the Office of Real Estate Appraisers (OREA). We are able to turn around most residential orders within two to three days depending on the complexity of the assignment.

Please give us a call today at (562) 803-8888 to get started.