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Posts Tagged ‘ appraisal services ’

Coest2Coest – Brian Coester, Fritz Schaper and Toni Bright – How to Handle a Low Appraisal

January 29th, 2018

This Episode of Coest2Coest we had Chief Compliance Officer and Former State Regulator Toni Bright. Toni was fortunate enough to share some tips on how to handle the appraisal rebuttal process in the most efficient manner. Her Tips are below and a link to the episode.

Toni Bright’s Tips for Value Rebuttals:

  1. Remember an appraisal in an opinion of value.
  2. There is a difference in what someone is willing to pay vs. what something is worth.
  3. Look at the rebuttal strictly with facts and from a professional standpoint.
  4. Focus on Data.
  5. Demonstrate due diligence as an agent, and set realistic expectations with your borrower.
  6. Keep in min only one reconsideration of value is allowed per file.

Please click here for the full episode and conversation: https://youtu.be/_J-AJBQVEos

We go into a lot of different aspects of the rebuttal process during this episode and touch things from a lot of different angles.

Enjoy!

Brian

Boston, Massachusetts: Sales Prices Rise as Demand Surpasses Supply

July 5th, 2017

AppraiserSpotlightCoesterVMS-Sandra PendergastAppraiser Spotlight- Sandra Pendergast

Sandra has been an appraiser for the past 15 years, and primarily services the Boston metropolitan area. She decided to enter this field of work when she made a career change after gaining custody of her 2 grandsons. Over the years Sandra has worked through fluctuations in her market, and has seen the changes that have come as a result. Recently, the shortage of inventory in the Boston market has led to an increase in sale prices as bidding wars have driven prices up over the appraised value. In her spare time Sandra enjoys painting and writing, but has remained busy with work in her market. According to Sandra, the key to success as an appraiser is patience. The educational requirements of becoming an appraiser and trainee experience needed is a long process, and patience is essential.

Boston, Massachusetts Market

Sales prices reached new heights in January 2017 for the Boston metropolitan area as demand continues to outweigh supply. The average price for a single-family home increased 7% statewide to $342,500 compared to January of last year, as inventory remained low (The Warren Group). According to The Wall Street Journal, the median sales price for the Boston Market rose from $685,000 in 2015 to $791,000, while rent in the neighborhoods surrounding Fenway Park increased 2.5%. Though inventory is being added to the market, there is a shortage of affordable housing for middle and low income buyers. According to Boston Agent Magazine 80% of the new construction being added to the market is housing, but primarily in the form of luxury apartments and condos. This paired with bidding wars has driven prices up and out of reach for many low-income buyers.

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CoesterVMS – Appraisal Management: http://www.coestervms.com
Brian Coester Website: http://www.briancoester.com
Brian Coester Twitter: http://www.twitter.com/briancoester
Brian Coester Youtube: http://www.youtube.com/bcoester
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CoesterVMS – Appraiser Spotlight – Sales and Home Prices for Atlanta Market are Up

May 28th, 2017

Appraiser Spotlight-William Shields

Appraiser Spotlight- William ShieldsPreferred appraiser William Shields has been an appraiser for 17 years, and was first introduced to the business by this brother. Bill was interested in the profession years earlier, but decided to make the change and go to school to become an appraiser after selling his auto repair business. As a real estate agent, Bill’s brother helped to establish a mentorship for Bill upon graduation. While there, he worked part time to gain additional experience and knowledge before leaving to work full time for an appraisal company. Located just 15 miles outside of Atlanta, Bill has serviced the market for many years and is grateful for the abundance of work both in and out of the city. From high-rise condos in downtown Atlanta to suburban mobile homes, Bill enjoys the diversity and complexity the ever growing market has to offer. According to Bill, the key to success as an appraiser is to plan for the future and build good relationships, as this is an analytic job that requires ongoing training and concentration.

Atlanta, Georgia Market

Atlanta and the surrounding suburban markets continue to flourish as we move deeper into 2017. According to Live Love Atlanta, 2017 is on track to surpass 2016 in both the number of homes sold and the median sales price.  The number of homes sold experienced a 7.7% increase in 2016, and with Atlanta’s strong economy this increase is expected to continue. Competition fueled by inventory shortages in downtown Atlanta and the North Atlanta suburbs have been a main contributor for the increase in sales price.  According to Qualified Mortgage, home prices rose 10.5% last year and are projected to rise 6.3% by the end of 2017.

About CoesterVMS

CoesterVMS is a nationwide appraisal management company that specializes in providing comprehensive management of appraisal operations for mortgage lenders. CoesterVMS’ in-house appraisal management solution combines the best service with the most advanced technology on the market. CoesterVMS guarantees all appraisal reports to fully comply with all regulations and guidelines. The company’s Cloud Control appraisal management technology is the only software of its kind to be built on the award-winning Salesforce.com platform, and its “Coester-Mer” service is earning the company a reputation for the best customer service in the industry. Headquartered in Rockville, Maryland, CoesterVMS was founded as a local appraisal company and has since grown to a formidable nationwide force in the appraisal management segment. For more information please visit CoesterVMS online at www.CoesterVMS.com.

Contact Us

For more information on CoesterVMS services, please contact our sales team email at:
sales@coestervms.com (888) 485-1999 Ext.2.
CoesterVMS – Appraisal Management: http://www.coestervms.com
Brian Coester Website: http://www.briancoester.com
Brian Coester Twitter: http://www.twitter.com/briancoester
Brian Coester Youtube: http://www.youtube.com/bcoester
Brian Coester Instagram: http:www.instagram.com/briancoester