The following are examples of unacceptable
What to Look for in
an Orlando Appraiser
When it comes to buying or selling a home in the Orlando
area, one of the most important people involved in the process is the
appraiser. The Orlando appraiser offers the experiences, knowledge and skills
to properly evaluate the property and provide a good appraisal for its value.
The conclusion of the appraiser sets the baseline for the value of the home
from which an informed price can be set.
However, while appraisers are independent parties who have
no vested interest in the home itself, they are still human beings that may
make mistakes or errors in judgment which may translate into thousands of
dollars being lost because of a faulty appraisal. In order to ensure that your
appraisal process is the best possible, you will need the services of the best
The Five Things to
Look for in an Orlando Appraiser
Here are the five aspects you will need to see in the
appraiser you choose in the transaction of buying or selling your home. While
even the best appraisers can make mistakes, they are far less likely to occur
if you get the right one.
Education & Training: The better the education and
training, the better the appraiser will be. Look to see if they received their
education at recommended places such as the Appraisal Institute (AI) which is
arguably the most respected. Otherwise, places such as the American Society of
Appraisers (ASA) or Independent Fee Appraisers are good substitutes.
Experience: Although the number of years of experience is
not too important, it is a good indicator of just how reliable an Orlando
appraiser should be. Since their reputation in terms of providing good services
is a big part of why they are hired, an appraiser who has 10 years or more of
experience with this as their primary form of employment is a good indicator
that they must be doing something right.
Qualifications: Naturally, the proper appraiser must have
all the appropriate licensing and qualifications necessary to hold the
position. This is the minimum requirement for any Orlando appraiser and must be
verified before viewing their other attributes.
Area Knowledge: While good appraisal skills carry over in
all areas of the country, an appraiser that has worked in the Orlando area for
some time will have advantages. They will know far more about the local real
estate market, historic trends and the type of things to look for or pay more
attention to when appraising a home.
References & Reviews: Virtually every appraiser has
references they will have for you to demonstrate the quality of their services.
While references are important, keep in mind that like any good business person
they will only tell you about the ones who really enjoyed their work. If you
can, find reviews of their services from customers and see if there is a
pattern either good or bad that indicates the quality of their work.
Once you have looked over these five aspects of the Orlando
appraiser, you should then check their fees and see which one offers the best
services for the lowest price so that you can get the most for your investment.
Mortgage Rate Trend Index
A substantial majority (80%) of industry experts polled this week by Bankrate.com think rates will continue to go up over the short term. Only 20% think they’ve peaked, and none believe they’ll lower.
WASHINGTON (AP) – June 12, 2015 – Average long-term U.S. mortgage rates jumped this week to their highest levels this year, with the key 30-year rate topping 4 percent for the first time since late 2014.
Rates have been surging amid signs of improvement in the economy, which have pushed bond prices lower and bond yields higher. Mortgage rates often follow the yield on the 10-year Treasury note, which reached a high for the year of 2.49 percent Wednesday. That was up from 2.37 percent a week earlier.
The increase in mortgage rates has come during the height of the spring homebuying season.
Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage climbed to 4.04 percent this week from 3.87 percent a week earlier. It's the first time the benchmark average rate has exceeded 4 percent since last November, when it was 4.02 percent. The rate on 15-year fixed-rate mortgages increased to 3.25 percent from 3.08 percent.
A striking sign of improvement in the economy came last Friday, when the government reported that U.S. employers added 280,000 jobs in May. That was a surprisingly robust tally at a time when consumers are hesitant to spend and some key industries like energy and manufacturing have been struggling.
The report from the Labor Department showed that employers seem confident that the economy is regaining its footing after shrinking at the start of the year and that their customers' demand will accelerate. And the new data led many economists to predict that the Federal Reserve will raise interest rates as early as September because the economy might no longer need the stimulus of near-zero rates. The Fed has kept them at that level for more than six years.
Despite their recent surge, though, mortgage rates remain low by historic standards. A year ago, the average 30-year rate was 4.20 percent and the 15-year was 3.31 percent.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage was unchanged from last week at 0.6 point. The fee for a 15-year loan rose to 0.6 point from 0.5 point.
The average rate on five-year adjustable-rate mortgages increased to 3.01 percent from 2.96 percent; the fee declined to 0.4 point from 0.5 point. The average rate on one-year ARMs fell to 2.53 percent from 2.59 percent; the fee remained at 0.2 point.For information on the loans we provide here through Sunbelt Appraisals, visit our FHA Appraisals page.
Copyright © 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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