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 […]
What Is A.G.D.A. And Why Is It Important?
February 14, 2011 By 6 Comments
People outside of the Birmingham, Alabama market area may not know what A.G.D.A. is but they would probably understand its importance. A.G.D.A. stands for Appraiser Group Data Association. It consists of a group of real estate appraisers in the Birmingham metro area that collects data on homes they appraise and share it with one another. […]
Have You Ever Appraised a Pyramid Before?
February 9, 2011 By 4 Comments
Well, it’s not a real pyramid, at least not the kind you find in Egypt. It did remind me of the Egyptian Pyramids, with their unique shape though. I was doing some appraisal work in the Trussville, Alabama area of Birmingham and drove past this home. It made me think of what types of homes […]
What Can Four Years of Birmingham, Alabama Building Permit Statistics Tell Us?
February 7, 2011 By 4 Comments
The Alabama Center for Real Estate (ACRE) recently released residential building permit figures. I have compiled the numbers and charted it as you can see below. These figures keep track of permits issued for construction of new homes. As you can see from the chart, which covers May of 2007 through November 2010, the number […]
Birmingham, AL Real Estate Appraiser FAQ: Can a Conventional Appraisal be Converted to an FHA Appraisal?
February 4, 2011 By 5 Comments
I get this question quite a bit, and the short answer is “yes”. There are some conditions for how this is to be done however, depending on the situation. The most typical case would be where the borrower was purchasing a home with a conventional loan but then changed to FHA financing. If the loan […]
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