|
Multi-Family Appraisal reviews
In the current Lending environment it is important that you can trust the appraiser's opinion of market value. Whether you are a Borrower, a Realtor, a Mortgage Broker, a Lender, or a Bank. We at PHOENIX APPRAISAL take our job as your Review Appraiser very seriously. It is our job as appraisers to continually educate ourselves in the most current appraisal techniques and to stay on top of changes in the local Real Estate market.
Here in the Rogue Valley there are many smaller market sectors that make up the whole. As local appraisers we pride ourselves on knowing what makes each smaller market in the valley tick.
It's true what you hear about small towns, everyone is your neighbor. As Real Estate professionals we are fortunate to have the Southern Oregon Multiple Listing Service to bring us together. When a local appraiser needs help comparing Apples and Oranges our Realtor colleagues are just a phone call, or email, or text message away willing to help with necessary transaction data that makes the local Appraiser the most accurate choice for your Multi-Family Review Appraisal.
It seems like 2012-2013 has been a lot of up and down. This is typical in the business cycle as we move through our foreclosure and short sale inventory. It is during these times however that painting a credible valuation picture is challenging as we sift through the data to determine what it is really telling us about the buying and selling public. We at Phoenix Appraisal work efficiently and effectively to ensure the accuracy of your appraisal products.
Multi-Family reviews can be tricky, particularly when the available data doesn't cooperate. By this I mean that sometimes the selling public realizes that they won't be able to achieve the sale price they were hoping for, and because there is income coming in - there is no really good reason to sell. If you know anything about supply and demand you might say, "If the supply is low that means the demand will put upward pressure on the prices, and it's a good time to sell right?!?" It's only a good time to sell if you are going to make back what you invested in the property. Bottom line, unless you have a lot of equity in your income property, you probably won't make back your nut to invest somewhere else. If you're asking "Why?", it's because over the last 6-7 years we've become a lot more savvy as buyers of Real Estate and most everyone knows that an appraisal will tell you what everyone else paid for their income property over the last 6 to 12 months. In other words, if your pal Jack got a screamin' deal on his Fourplex in Grants Pass, Oregon you're not going to want to pay much more than that, right? In the end the buyers and the sellers aren't seeing eye to eye right now, so the market here in the Rogue Valley is stalled when it comes to most income properties. Whether we are completing specialized review forms that conform to your company's needs or utilizing Fannie Mae's Review forms we at Phoenix Appraisal are committed to communicating responsively, and we consistently meet our deadlines. Included in our list of appraisal review products are Fannie Mae's Desk Review and Field Review forms, in addition to a Narrative Review report. |