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John Jeffrey, Real Estate Pro in Castle Rock, CO

Is there a valuation feature that can help figure out a home's value for my clients vs. using zillow?

Asked by John Jeffrey, Castle Rock, CO Wed Jan 19, 2011

Thanks to HVCC laws we can't order comps from appraisers and having a client pay $465 for a "maybe" isn't a good option although all of us in lending are in the same boat. If anyone here is in the industry and knows of an effort to repeal the current HVCC law please let me know where I can sign up. Thanks!

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You can always ask a local Realtor for comps. However, don't your investors require an actual appraisal on the property?
0 votes Thank Flag Link Thu Feb 17, 2011
James "hit on" what I was thinking. I will do a market analysis, CMA, for people considering refi's vs sale. It is not a "golden rule", but does give a snap shot of activity and values in the area. I use criteria similar to appraisals as well. If numbers and history warrants an appraisal, then go for it! But, if area averages are lower than expected and the value being considered doesn't match, it may be beneficial to wait.

Best of luck!
Web Reference:
0 votes Thank Flag Link Thu Jan 20, 2011
JJ build raport with a Realtor® in your area. I have a L.O. at a major lender in my area that will come to me on questionable values before she runs them through the appraisal process. I am familiar enough with the area that I can sometimes tell her I don't think they will hit that value while we are on the phone. I always run the broad comps for an area and supply them in a comparison report. I come up with an opinion of value In return she gives me referalls from time to time.
By the way we have been working like this for about 6 years. I normally get a transaction a year from her and when interest rates dropped below 5 last year she did about 3 million in refinance in one month from my clients that bought when rates were 6% and higher.
0 votes Thank Flag Link Thu Jan 20, 2011
Just one of the many changes our government said was in our best interest. Kind of like the Health Care Bill, some good ideas but as a whole very flawed.
0 votes Thank Flag Link Wed Jan 19, 2011
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