My New Blog

Recently, HUD reported that over the last three months, the volume of FHA mortgage originations has doubled, going up to 181,900 applications.  Since FHA loans are becoming so popular, I am happy to let you know that I am FHA approved.  If you would like to order an FHA appraisal you will need my license number which is 5485415-CR00.  Also, just to let you know, HUD has recently changed and simplified their FHA appraiser guidelines whichs makes it great for all of us.

Thanks for choosing Scott Cloward as your appraiser!

Saturday, 24 May 2008

The Daily Herald posts another article that states "Existing home sales dip in April."

See this article at this link:

http://www.heraldextra.com/content/view/267584/

"Existing home sales fell for the eighth time in the past nine months, a sting of weakness expected to continue as the housing industry, mired in its worst slump in decades, battles falling home prices, tight lending conditions and a weak economy."

Home prices have continued to drop over the past six to nine months.  Many individuals are very frustrated at the lagging economy, rediculous gas prices, and stricted lending requirements.

Many point the finger at the appraiser, the realtor, or even the broker.  Why are any of us to blame for the current economic crisis?  Didn't the lenders make it easier to buy a home on "Stated Income" than it was to buy a "Screen T.V." on credit at your local electrinics store?

Now that the lenders are in such a crunch due to lost investments, what is the solution?  Lending guidelines need to soften up quite a bit.  People with above average credit and good loan to value ratios need to be able to find a loan program that will work for them.

As the appraiser, I am seeing it harder and harder to appraise homes in the area due to limited comparable sales.  The "lender" is wanting closer and more recent sales, as if we didn't include them in the original appraisal report in the first place. 

We all know that property values have dropped, but do you know how much?  My recomendation to you is to get an appraisal on your home NOW!  Don't you keep track of your stocks, roth or 401-K?  I am guessing that your home is one of your biggest assets.  Wouldn't you like to know what your home is worth in todays market?

Please feel free to contact me for an appraisal on your home, investment property, or vacant land.

May 28, 2008

In todays paper "The Daily Herald" there is an article stating that there is "52 Utah properties pu up for auction."  See attached link at http://www.heraldextra.com/content/view/267795/18/