In these dynamic mortgage times, the lenders change the criteria Appraisers need to follow. Many instances the closing is held up by unforeseen aspects which arise during the Appraisal Site Visit. Most Realtors are not aware of the FHA Minimum Property Requirements ( MPR ) which are part of the FHA insured mortgages. The FHA Minimum Property Requirements have not really changed much over the past few years, however building code regulations have. Local Building Code Regulations takes precedence over FHA Minimum Property Requirements in terms of Hand railings and required window opening sizes which are required by local and state law.
Metro Residential Appraisers works with Realtors in Burlington, Camden Gloucester and Philadelphia counties with Listing Appraisals which helps identify some of these issues. In future blogs, we will point out many advantages of Listing Appraisals which benefit both the Homeowner, your client and the Realtors who are listing their client's homes which are offered for sale.
Many Realtors contact Metro Residential Appraisals to help with clients who do not wish to accept your professional listing price of their home. In the coming weeks we will be posting actual cases where Listing Appraisals reduce the DOM ( Days on Market ) and get your listings to the closing table.
All of the staff at Metro Appraisals would like to wish everyone a Happy 2015. During the past few weeks as 2014 was winding down and we got the opportunity to spend a little extra time with friends and family. Traveling throughout the area from Cherry Hill, Voorhees, Haddonfield, Marlton, Mt. Laurel and into Philadelphia the sights and sounds of the season was very festive.
New construction is happening all over the area including down at the Jersey Shore in Margate and Longport NJ. Many people are getting new homes constructed as well as rehabilitating old homes for the upcoming summer season.
We are very excited about 2015 and wish all of our friends and family all of the very best for a happy, healthy and prosperous 2015 !!