It is now taking 1 month to get a full appraisal- all licensed appraisers are very busy and the requirements are often what make the appraisal costly. The house sales in a day the loan approval, lender's underwriting and the appraisal take weeks.
Did you know some appraisers are also brokers, and have additional education of 2000 hours just to the qualified to appraise the property? Besides a college degree, and additional certifications or national appraisal institute education, appraisers have a lot of knowledge of local markets. Chose your appraiser carefully.
WHAT IS THE VALUE OF YOUR PROPERTY? The APPRAISER can help the buyer understand the costs related to the property, and market fluctuations. Sometimes homeowners need a specific type of appraisal because of certain circumstances- banking requirements, lender requirements, refinance ,bankruptcy, death requirements/ inheritance, expert testimonial, or insurance. Sellers may need an appraisal before selling to see the value of their home and understand market changes. I buyers can trust a certified appraiser's opinion over the internet value- which sometimes does NOT reflect our local market. Appraisers can help you understand comparable sales differences. You get what you pay for- Make sure you understand what you need. Call for a consultation or review , if you are not sure what you need. In these escalating market times DON'T wave your appraisal. It is for YOUR protection as a buyer.
Mortgage or No mortgage is the question of the day? As you reach retirement you may be considering this option. Here are some things to consider-Are rates low enough to give you a little extra income each month? It is advisable to refinance before you retire because the W-2 income maker is easier to get approved . The economic climate causes several factors to change also. It influences interest rates, availability of money, status at your job, retirement income pressures, and taxes. Do you want to make a payment during your retirement? Are you staying in your house and committed to continue with the costs of taxes, repairs and maintenance? What type of loan do you have? interest only? how many years are left to pay? Do you know your monthly budgets incase you DO have an emergency? What is your refinance break even cost to gain back the cost of the new loan? That alone should help you make a good decision.
Jeff Patch has been an appraiser since 1986 in Tucson Arizona. Tucson Real Estate Appraisal Team has written thousands of reports , reviewed hundred and consulted on construction, community development, and land. Jeff is a broker, SRA , MAI, and a licensed appraiser in Arizona.
He works for bankers, attorneys, builders, and Appraisal management companies.
He attended the University of Arizona and has a business degree, is a avid Wildcat fan, and has played every golf course in and surrounding Tucson.
If you need an evaluation, consulting ,or an appraisal call.
520-326-6066 office or text 520 906-4503
The appraisal process is a lengthy one due to the underwriter and the lender's requirements. Comparable sales, calculations olocal issues, interest rates and development all influence the appraisal process. Data is required to validate the price and determine the correct value. Measurements, photos, plans, and calculations are just part of the appraisal process. The appraiser gives an independent price using analysis tools, he cannot value a house at a price on a contract, your price(say for a refinance) or a realtor price - it is an independent value to protect the lender's loan. The Tucson market has been in a steady climb the last 6 months increasing in some areas by15% , making Tucson the number ONE most unaffordable community in the country, however we are seeing a plateau and more listings appear on the market for summer.f additions, neighborhood, community, property, market variables,
The Covid-19 pandemic has caused widespread changes in the real estate ,markets around the world and right here in Tucson. The real estate market is faced with fallouts from the pandemic as well, real affects tied into human behaviors. The affects of high density city housing, transportation, home schooling, suburban living, all leaving lasting impressions on housing and what's to come.
A Black Swan event perhaps? unexpected occurrence with widespread significant effects. Primary characteristics are unpredictable, and can have severe consequences. We can not predict or prepare for the outcome. Remember when buying a property protect yourself and your money by using an appraiser and a lender that are both licensed.
With over a thousand of residential and commercial valuations, those of us at Tucson Real Estate Appraisal have the depth of experience required for any size project. As dedicated career appraisers we are committed to maintaining your trust with accurate valuations and timely service.
Residential and commercial properties including homesoffices, apartment, land rentals,investors and retail.
Expert witness testimony.
Land valuations for all types of property. Utilization of proprietary data and stigmatized properties
Founded in 1986 we are a leading provider of appraisals in Southern Arizona and Tucson. We take pride in offering world-class appraisal customer service, quick turnaround times, and only the highest quality appraisals. Our appraisal reports are supported by primary market research, analysis, and seasoned judgement to better guide our clients in their property evaluation needs.
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Tucson Real Estate Appraisal
770 N Country Club
Tucson Arizona 85716
If you have been looking for a rental you know it is expensive and very little is available. Summer time opens up more rentals and hopefully the prices will stabilize. Prices have gone up parallel to the real estate sales market.
Jeffrey Patch MAI SRA
Given so many uncertainties , many people want to lower their liabilities, simplify and reduce their expenses. Understand the value of your property the costs to own , the increases in costs for the future before buying. If you have a 2.5% mortgage and your investments are making 5% you don't want to take money out to use to purchase a home or pay down the mortgage. Remember you should always have a cushion of 3-6 months- Also consider how important the mortgage deduction is before paying off
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Saturday: By appointment