Saturday, November 1, 2008

Appraisal Update

It's been great getting back to my appraisal business! Since August 26th, there has been a wide variety of assignments; plenty to keep me busy and diverse enough to keep me learning.

The mortgage related work has been scarce, but I have been getting a bunch of referrals from real estate agents. In some cases they are looking for help in pricing a new listing. In others, the agent and the owner are interested in adjusting the price on an existing listing and want a picture of the current market. I've also completed a number of appraisals for potential purchasers, anxious about the market and wanting to make sure they do not overpay for a house they have fallen in love with.

Several homeowners have contracted with me to provide Replacement Cost Estimates to help them and their insurance carriers to determining the level of insurance to maintain. We have been providing Replacement Cost Estimates for the past 5 years. These have been accepted by Citizens Property Insurance and dozens of others companies. In some cases homeowners determined they were dangerously under insured. In others, they were paying for much more coverage than necessary. Give me a call if you have questions.

Since August, I have also contracted with the Florida Division of Real Estate as an Expert Witness. The Division of Real Estate utilizes Expert Witnesses in some of their disciplinary actions against registered, licensed and certified appraisers. It's interesting work and helps me keep up on changes to appraisal standards, laws and rules.

There is much more going on the appraisal world. Keep an eye on this space. I'll do my best to provide updates on a more regular basis.