My New Blog

With so much destruction from hurricane Ian in September, many homeowners face the FEMA 50% rule.  This applies to older homes which were built prior to current elevation requirements.  If the damage is over 50% of the market value of the improvements, the home needs to be raised or removed.   The property appraiser assessments are used unless another value is shown by a Certified Appraiser.  I have been performing these in recent weeks and find that the actual value of improvements is typically higher than what is shown by the County Property Appraiser.    If you find you need an appraisal, I am offering this service which hopefully will save homes from possible demolition.   

My fees vary according to where the job is and how complex.  I have offered specials to communities with multiple orders.   Feel free to contact me regarding this type assignment.   

Hurricane Ian is a historic storm and the clean up efforts are amazing.  My thanks to all that have come to our area to help with this massive task.   

I had spent my early years appraising for Robert Williams who recently passed away. His niche in the market was the manufactured homes in Southwest Florida which are in parks both with leased sites and owned sites. Centerstate Bank had contacted me to see if I knew anyone who could do the lease parks. I informed them of my past experience and they have been ordering appraisals for loans. I was not aware of Banks doing lease parks for some time. I am very happy to see Centerstate stepping out there after so many years. 10 years ago Bank of America and First Union Bank were his primary customers for these type parks. For those in leased parks this is good news that the financing is returning. I always enjoyed this type of appraisal and look forward to doing many in the future. Way to go Centerstate. There are only a few residential appraisers who have experience with lease site parks. I was very fortunate to spend 4 years with Bob who gave me his park folders upon retirement back in 2003.

http://leepa.org/Search/PropertySearch.aspx

 

This link will take you directly to the Lee County Property Appraiser property search screen. 

It has recently come to my attention that on insurance appraisals for manufactured homes,  Citizens is requiring a new format and is not allowing the standard appraisal form.  This is in Florida and pertains to those who have done serious renovations on older homes.  Citizens typically on single family has accepted our appraisals showing the replacement cost with the improvements. 

As of this writing nobody will provide the format or information on how to get this format which I have never heard of .  Until that time, I will not be performing insurance appraisals on manufactured homes.  Should anyone out there know what it is they require, please let me know as Citizens has given me the wild goose chase. 

There are many homeowners worried as their homes are only insured for a fraction of what the cost would be.  I see many that have completely changed the home with serious upgrades.  This is typical in the waterfront properties and prime park locations.  As of now, I no longer have the solution. 

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WWW.realtor.com

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This link is a site called TruliaVoices where general real estate information on our area can be located.

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I haven't made posts in some time.  With the implementation of HVCC, I find myself needing to seen on the internet.  This is the new age appraisal process.  I have had customers for years that are no longer allowed to contact me for orders.  Instead we are selected by Appraisal Management Companies.  Appraisals in Ft. Myers, Cape Coral and Lehigh Acres kept this appraiser busy full time.  As of May 1st, we are now a number on a list. 

How many orders have I received?  Since HVCC, I have received 3 orders from appraisal management companies.  I have received FHA orders as my customers can still use me.  Most of the appraisals I have done since May 1st is for manufactured homes to correct insurance coverage, estate appraisals and other litigation appraisals for bankruptcies, divorces etc. 

What I hear from other appraisers is the same.  The mortgage companies are also affected by this legislation.  The result has been low quality reports done by appraisers who are not in the Ft. Myers area at all.  The work is poor quality, and the mortgage companies have to pay more for them.  If they need to send the report to another source, they have to order another one.

We can only home the legislators will hear the outcry and change HVCC to address these issues.  While lender pressure is not welcome, and I understand the need for legislation.  HVCC has had consequences which make matters worse.  Banks are now using only on staff appraisers.  This is a conflict for sure.  Banks also own some of the appraisal management companies.  Seems like another conflict.

Pending sales are stacking up in the Southwest Florida MLS.  We need these to close.   Our recovery is in sight.  HVCC is snuffing it out.

In the mean time,  litigation appraisals and manufactured home appraisals will keep this appraiser independent.   Call your representatives and tell them, HVCC needs to go.

Need an appraisal?  Call me for Fort Myers, Lehigh, Cape Coral, Captiva, or Port Charlotte,  I can' help you with anything but mortgage financing.

 

 

 

For up to date information regarding mortgages, appraisals, and legislative updates,  I recommend going to www.gotmortgagequestions.com

This site will keep you up to date on Real Estate trends affecting the Ft. Myers, Naples and Port Charlotte markets.

I invite comments from local Realtors, Appraisers, and Lenders working in Ft. Myers, Cape Coral and surrounding areas.