Birmingham Appraisal Blog

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Entries Tagged as 'MPR'

Are these FHA required repairs?

January 20th, 2012 by Tom Horn · No Comments · Appraisal, Appraisal Tips, Education, FAQ's, FSBO Tips, Home Improvement, Realtor Tips

I was doing some work recently for a novice property investor and he was asking me some questions about FHA required repairs.  He wanted to prepare the house he just purchased so that if the buyers were going to use FHA financing there wouldn’t be any issues at the last minute to hold up the [...]

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Dude, Where’s My Porch?

October 27th, 2011 by Tom Horn · 3 Comments · Appraisal, Photos From The Field

Remember the movie “Dude, Where’s My Car?”, with Ashton Kutcher?  I didn’t think so, it was not very memorable.  These days Ashton Kutcher has more things to worry about than bad movies from his past, but the movie did come to mind when I saw this house.   As you can see, it is missing [...]

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What Red Flags Can Kill A Birmingham, AL Area FHA Appraisal?

October 18th, 2011 by Tom Horn · 2 Comments · Appraisal, Appraisal Tips, FAQ's

Have you ever wondered if a house would pass an FHA appraisal inspection?  FHA does have more stringent appraisal guidelines than conventional loans but if you know what to look for then you can be ready before any problems come up.  I have included some of the top problems I have seen in my 20+ [...]

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FHA Repair Item…or Not?

July 5th, 2011 by Tom Horn · 2 Comments · Appraisal, Appraisal Tips, FAQ's, Home Improvement, Realtor Tips

I get a lot of questions about FHA appraisals and what types of repairs are required, and which ones are not.  As I have stated in a previous blog post, most items of repair in an FHA appraisal are related to safety, soundness, and security. Some items will definitely need to be repaired before the [...]

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FHA Appraisal Inspections Revisited- Crawlspace and Peeling Paint Under The Spotlight

April 22nd, 2011 by Tom Horn · 4 Comments · Appraisal, FAQ's

FHA inspections encompass various items that must be inspected to qualify a home for financing by HUD (Housing and Urban Development).  Two common items I wanted to discuss today are the crawlspace and peeling paint.  For those homes with a crawlspace the home must be inspected for the presence of water that may be collecting [...]

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FHA Appraisal Red Flag: Water In The Basement

February 16th, 2011 by Tom Horn · 2 Comments · Appraisal, Photos From The Field

I recently did an inspection on a property that was being purchased with FHA financing.  I’m always asked by real estate agents, buyers, sellers, and mortgage lenders, “what do you look for when you do an FHA appraisal compared to a conventional one?”  One of the items we look for is moisture in either the [...]

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Birmingham, Alabama Real Estate Agent Tips: What is an MPR?

October 27th, 2010 by Tom Horn · 9 Comments · Appraisal Tips, FAQ's

I talk with real estate agents quite a bit in my day to day work as a real estate appraiser.  It seem like FHA appraisal requirements are the most confusing to them in relation to what appraisers look for during our appraisal inspections.  By knowing what an appraiser looks for, the agent can better prepare [...]

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FHA Tip: Turn The Water On To Save Your Borrower Money

March 14th, 2010 by Tom Horn · 4 Comments · Appraisal Tips

I recently did an FHA appraisal on a property.  The home was relativily new so there were not major issues with peeling paint, inadequate electrical service, or other typical concerns.  The only issue was the fact that the water had not been turned on.  The property was a foreclosure so this is not untypical, however [...]

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Is Peeling Paint Killing Your FHA Loan?

February 27th, 2010 by Tom Horn · 7 Comments · Appraisal

I recently did an inspection for an appraisal on an FHA refinance loan.  It was an older home that had been undergoing some updates and renovations.  One of the biggest   problems I see on older homes, and one which this home had, is peeling and chipping paint.  This is not an issue with conventional loans [...]

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