by Michael Bolton on May 7, 2012
The City of Crystal, MN | Market Update
For every appraisal it’s important to determine as to whether values are increasing, decreasing, or are remaining stable (click here for detailed article on how this is done).
The MLS indicates that prices for the city of Crystal, MN decreased for the month of March, as well as year to date. This is for all types of properties that have sold within the city of Crystal, MN. This is not what is happening for 1 1/2 & 2 story design homes over the past 12 months (see below) in the selected neighborhood area.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family 1 1/2 & 2 story design homes within the city of Crystal, MN for the past 12 months; for the exact search criteria see the map above. This market analysis indicates that prices are considered to be increasing as indicated by the chart above. Distressed sales (Bank REO’s & Short Sales) are considered a factor in the market, and they make-up approximately 60% of the sales. The decline in inventory levels (53%) will have a positive impact on values.
by Michael Bolton on May 2, 2012
The Rotary Club of Elk River
presents the 7th Annual
Taste of Elk River
Thursday May 17, 2012
5 to 9 PM Lions Park
1104 Lions Park Drive, Elk River, MN
The cost is $25 per person and tickets can be purchased online or from one
of many participating local stores (click here for more information).
by Michael Bolton on April 30, 2012
The City of Coon Rapids, MN | Market Update
For every appraisal it’s important to determine as to whether values are increasing, decreasing, or are remaining stable (click here for detailed article on how this is done).
The MLS indicates that prices for the city of Coon Rapids, MN decreased for the month of March, as well as year to date. This is for all types of properties that have sold within the city of Coon Rapids, MN. This is not what is happening for rambler design homes over the past 12 months (see below) in the selected neighborhood area.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family rambler design homes within the city of Coon Rapids, MN for the past 12 months, for the exact search criteria see the map above. This market analysis indicates that prices are considered to be stable, or very slightly increasing as indicated by the chart above. Distressed sales (Bank REO’s & Short Sales) are considered a factor in the market, and they make-up approximately 63% of the sales. The decline in inventory levels (54%) will have a positive impact on values.
by Michael Bolton on April 25, 2012
I’m not a home inspector, and I’ve never pretended to be one in real life, or in a movie for that matter. But, it doesn’t take a brain surgeon to realize that we definitely have a water problem with these walls. It always amazes me the “wait and see” attitude people have before an appraiser comes to inspect their home. 
This appraisal was for a conventional mortgage (Fannie Mae), which doesn’t require that the appraiser inspect the attic. Only FHA requires that an appraiser inspect an attic area (follow this link for a detailed explanation of FHA’s requirements). However, for this appraisal it made sense to take a closer look as to what was causing this destruction. There was a lot damage to attic walls and roof, and consequently water had been running down in between the walls for quite some time.
Appraisers are responsible for more than just estimating an opinion of value, they are the eyes and ears for the lender. The lender wants to make sure that if they’re going to loan someone money for 30 years, that the property will last at least that long, which only makes sense.
I always highly recommend getting a home inspection done, even though appraisers are required to inspect more than what was previously required of them, it still isn’t to the level a professional home inspector does.
