HOME SELLER SERVICES
If you are planning to sell your home, it might be a wise decision to make a small investment in a professional appraisal. Unless you study real estate values on a day to day basis, like a professional appraiser does, it's difficult for you to get a handle on real estate values. We aren't talking about how much you have invested in your home, how much you paid for it, or how much you want for it. We're talking about the true market value of your home, which could really pay off for you in the long run!
SELLING YOUR HOME FSBO
More and more homeowners today are choosing to sell their homes FSBO (For Sale By Owner) and foregoing the help of a real estate agent. Selling your home by this method can end up saving you a potential "hefty" commission (industry average is 5-7% of the home's selling price). Plus many FSBO sellers feel that they have more control in the process of selling their home since they're in essence making all the rules. But selling your home on your own will require a significant amount of "homework" if you're going to do it right. One piece of advice that is consistently given by the experts in selling your home FSBO....Do NOT "Overprice" Your Home! It's very hard to be objective about your own home because of your emotional attachment to it. A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.
PRE-LISTING APPRAISAL
If you're working with a real estate agent to list your property, more than likely they'll provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the "Listing Price". This step is vital if you're going to maximize your profit and minimize the home's time on the market.
But even if you're working with the most experienced real estate agent, it's probably in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement. And that's where we come in. We can provide you with a pre-listing appraisal so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps". In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can:
Be a very valuable negotiating tool once you have a potential buyer
Impress buyer's with written proof of your home's condition inside and out
Make you aware of problems and eliminate last-minute repair hassles that might delay a closing
Decrease the chances of unknown problems that cause sales to fall through
Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own
Many people are surprised when they find out that the market value of their home is much more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.
CONSULTATION
Maybe you feel like you don't need an "appraisal" but you'd still like some help gathering local property and sales data. Our reports help you to make an informed buying decision. We understand the complexities of buying a home and know what you are going through and will do our best to make it easier for you by giving you a high quality, professional appraisal that you can depend on!
When you order an appraisal report from us, you can expect. . . .
Prompt response to your initial inquiry:
We will give you personalized information for your particular appraisal need. Just tell us your situation and we will make suggestions.
Quick turnaround time:
Typically one week or less from the date the request is received. If you've chosen to receive a copy of your appraisal or consulting report via the Internet (EDI), you'll receive it within MINUTES of its completion.
Appraisal and consulting reports formats to suit YOUR needs:
When it comes to appraisal and consulting, "One size does NOT fit all!" We offer a variety of report types and delivery methods. Express mail too slow? We can deliver your report attached to a standard email, or notify you of an Internet site to download your report, the MINUTE it's completed!
Quick response to follow-up questions: Our reports are clearly written, understandable, and meet or exceed the Uniform Standards of Professional Practice that governs the appraisal practice. If you have any questions regarding your appraisal, after you've read the report, we encourage you to email or call us!
http://www.bennett4appraisals.com
Bennett Appraisals
1 Woodrush Ct, Bellingham WA 98229
Phone: 360-746-0224
Fax: 360-838-0634
Email: bennettappraisals@comcast.net
Bennett Appraisals provides appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Camano Island, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, Whidbey Island, and all of Whatcom, Skagit, Snohomish & Island Counties. * Time permitted we also serve Point Roberts via the Canadian Border.
Thursday, April 24, 2008
Monday, April 21, 2008
Bennett Appraisals Expands to Island County Washington
The Certified Residential Appraisal Team at Bennett Appraisals is proud to announce their business expansion into Island County, Washington! In addition to providing residential appraisal services to all of Whatcom, Skagit and Snohomish Counties the appraisal team is looking forward to their expansion of appraisal services into Island County.
Bennett Appraisals provides the following residential appraisal services.
Primary and Secondary Mortgages
Mortgage Refinancing
FHA
Reverse Mortgages
REO/ Forclosure
Employee Relocation
Private Mortgage Insurance Removal
Estate Planning
Divorce Settlement
Complex Properties
Waterfront/ Acreage
Bennett Appraisals serves the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Camano IslandCain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, Whidbey Island, and all of Whatcom, Skagit, Snohomish & Island Counties. * Time permitted we also serve Point Roberts.
http://www.bennett4appraisals.com
Bennett Appraisals
1 Woodrush Ct, Bellingham WA 98229
Phone: 360-746-0224
Fax: 360-838-0634
Email: bennettappraisals@comcast.net
The Certified Residential Appraisal Team at Bennett Appraisals is proud to announce their business expansion into Island County, Washington! In addition to providing residential appraisal services to all of Whatcom, Skagit and Snohomish Counties the appraisal team is looking forward to their expansion of appraisal services into Island County.
Bennett Appraisals provides the following residential appraisal services.
Primary and Secondary Mortgages
Mortgage Refinancing
FHA
Reverse Mortgages
REO/ Forclosure
Employee Relocation
Private Mortgage Insurance Removal
Estate Planning
Divorce Settlement
Complex Properties
Waterfront/ Acreage
Bennett Appraisals serves the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Camano IslandCain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, Whidbey Island, and all of Whatcom, Skagit, Snohomish & Island Counties. * Time permitted we also serve Point Roberts.
http://www.bennett4appraisals.com
Bennett Appraisals
1 Woodrush Ct, Bellingham WA 98229
Phone: 360-746-0224
Fax: 360-838-0634
Email: bennettappraisals@comcast.net
Wednesday, April 16, 2008
Homeowner Appraisal Services
Homeowners need appraisals or appraisal reviews for a variety of reasons, including a mortgage refinance, home equity loans, Pre-listing services, and PMI removal. When you order an appraisal or review from us, you can rest assured that you will get the best in professional service, courtesy, and quality.
Refinance / Home Equity
Be sure that you request us if your lender asks you for YOUR choice of appraisal firms. More than likely we are already on their "approved list", and if not we will quickly provide your lender with the necessary documentation to become approved.
For-Sale-By-Owner (FSBO) / Pre-Listing Services
It's very hard to be objective about your own home because of your emotional attachment to it. A Professional Appraiser is objective and will tell you what you need to know, not just what you want to hear. In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal is very valuable as a negotiating tool once you have a potential buyer. It gives you something concrete to show your buyer. It's an independent third party's opinion of your home's value, and not just you saying how much your home is worth. Potential buyers know you have an emotional attachment to your home and will be far more likely to give credibility to a professional appraiser's value opinion than yours.
PMI Removal Appraisals
A popular money saver for homeowners in the last few years is to get the PMI removed from their mortgage loan, thus saving them money on their monthly payments. PMI stands for "Private Mortgage Insurance". Once your mortgage loan amount is down below 80% of the value of your home, in most cases you can apply to the lender to have the PMI removed from your loan, which will make your monthly payments go down. We are experienced in helping folks just like you rid themselves of unneeded and unwanted PMI insurance.
A popular money saver for homeowners in the last few years is to get the PMI removed from their mortgage loan, thus saving them money on their monthly payments. PMI stands for "Private Mortgage Insurance". Once your mortgage loan amount is down below 80% of the value of your home, in most cases you can apply to the lender to have the PMI removed from your loan, which will make your monthly payments go down. We are experienced in helping folks just like you rid themselves of unneeded and unwanted PMI insurance.
Field and Desktop Appraisal Review Services
Have you just received a copy of your appraisal and youd like to have a professional "double-check" it for accuracy or do you need a second opinion without the expense and delay of waiting for a whole new appraisal?
Appraisal Field Reviews: Well check your appraisal for accuracy and provide exterior "field inspections" of the subject and comparable properties for maximum appraisal certainty. Perfect for any situation demanding a second opinion on value.
Appraisal Desk Reviews: In a hurry and just want to "double-check" the facts? Well use our extensive Internet research capabilities and office files to deliver reviews with the highest degree of precision in the industry.
Appraisal Field Reviews: Well check your appraisal for accuracy and provide exterior "field inspections" of the subject and comparable properties for maximum appraisal certainty. Perfect for any situation demanding a second opinion on value.
Appraisal Desk Reviews: In a hurry and just want to "double-check" the facts? Well use our extensive Internet research capabilities and office files to deliver reviews with the highest degree of precision in the industry.
Bennett Appraisals serves the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts.
Informative Quarterly Newsletter: City of Anacortes, Planning Department
The City of Anarcortes planning department puts out a very informative quarterly pdf newsletter concerning upcoming talks and changes in the community. April 2008 subjects include: Old Town design standards, updating development standards, the city's focus on transprotation (with maps of areas arterials), and promoting green building standards.
Check out the link here:
http://www.cityofanacortes.org/Planning/Newsletters/2006/file.asp?ID=11
Bennett Appraisals residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts.
Check out the link here:
http://www.cityofanacortes.org/Planning/Newsletters/2006/file.asp?ID=11
Bennett Appraisals residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts.
Thursday, March 27, 2008
Green Buildings/Project Map in Bellingham
The City of Bellingham has a PDF map of all the green buildings and projects being planned, as of the end of 2007. It is pretty interesting, here is the (large) PDF:
http://www.cob.org/documents/planning/maps/2007-12-green-building-in-bellingham.pdf
City of Bellingham's Green Team
Per city website: The Green Team was created to promote a sustainable community with public and private partnerships, through efficient use of land and building resources, protection of the environment, support of the local economy, and fostering social equity. For information on programs or sustainable building practices, contact the Green Team via email: greenteam@cob.org or visit the Planning Division at 210 Lottie Street.
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Bennett Appraisals works hard to conserve in our office with paperless/ virtual file storage, recycling, low watt high efficiency light bulbs. and driving trip plans to save on fuel.
Bennett Appraisals provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
http://www.cob.org/documents/planning/maps/2007-12-green-building-in-bellingham.pdf
City of Bellingham's Green Team
Per city website: The Green Team was created to promote a sustainable community with public and private partnerships, through efficient use of land and building resources, protection of the environment, support of the local economy, and fostering social equity. For information on programs or sustainable building practices, contact the Green Team via email: greenteam@cob.org or visit the Planning Division at 210 Lottie Street.
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Bennett Appraisals works hard to conserve in our office with paperless/ virtual file storage, recycling, low watt high efficiency light bulbs. and driving trip plans to save on fuel.
Bennett Appraisals provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
Bellingham WA Drivers Beware, I-5 Construction April May 08'
According to WSDOT, drivers in Bellingham, WA can expect many delays on the I-5 corridor April/ May 2008
according to the published article approximately 80,000 drivers use I-5 every day through Bellingham.
The first weekend-long closure is scheduled for April 11 through April 14. I-5 will be reduced to one lane in each direction for three miles. Lanes will close at 10 p.m. Friday and reopen at 6 a.m. Monday.
For full article go to: http://www.wsdot.wa.gov/News/2008/03/27_i5constructiondrawsnear.htm
Bellingham drivers can check traffic conditions online @ http://www.wsdot.wa.gov/traffic/bellingham/
Bennett Appraisals Provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
according to the published article approximately 80,000 drivers use I-5 every day through Bellingham.
The first weekend-long closure is scheduled for April 11 through April 14. I-5 will be reduced to one lane in each direction for three miles. Lanes will close at 10 p.m. Friday and reopen at 6 a.m. Monday.
For full article go to: http://www.wsdot.wa.gov/News/2008/03/27_i5constructiondrawsnear.htm
Bellingham drivers can check traffic conditions online @ http://www.wsdot.wa.gov/traffic/bellingham/
Bennett Appraisals Provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
New Shade of "Green" For Whatcom County Courthouse
Congratulations to the folks down at the Whatcom County Courthouse, who are now certified green. One of the few courthouses to do so in the nation!
Per Whatcom County Website News:
"March 26th, 2008 - The Whatcom County Courthouse in Bellingham has been awarded LEED® (Leadership in Energy and Environmental Design) Certification, an award for high-performance, green operational strategies that is administered by the U.S. Green Building Council. The Whatcom County Courthouse is only the third one in the nation to be certified through LEED® in the Existing Buildings category, and only the sixth existing building of any kind to be certified in Washington State."
For more info on LEED go to: www.usgbc.org/LEED
Bennett Appraisals Provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
Per Whatcom County Website News:
"March 26th, 2008 - The Whatcom County Courthouse in Bellingham has been awarded LEED® (Leadership in Energy and Environmental Design) Certification, an award for high-performance, green operational strategies that is administered by the U.S. Green Building Council. The Whatcom County Courthouse is only the third one in the nation to be certified through LEED® in the Existing Buildings category, and only the sixth existing building of any kind to be certified in Washington State."
For more info on LEED go to: www.usgbc.org/LEED
Bennett Appraisals Provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
City of Bellingham, seeks imput on North Bellingham Park
If you live or work in the North Bellingham area, here is your opportunity to voice your opinion about the park being planned in the area
Per the city of Bellingham Website:
"City officials continue to seek input in the master planning for a recently acquired 20-acre park in north Bellingham known as "Cordata Park." More than 30 people participated in the first of a series of meetings to discuss the park and its amenities.
Interested residents are invited to participate in steering committee meetings held on the 2nd Thursday of every month from March through August. Discussion topics will include design elements of the park, naming the park, and trail alignment through the park.
Meetings will continue to be held in the Chapel Room of the Birchwood Community Presbyterian Church, 400 Meadowbrook Court, from 7-8:30 p.m. on the second Thursday of each month as follows:
Thursday, April 10, 2008Thursday, May 8, 2008 Thursday, June 12, 2008Thursday, July 10, 2008Thursday, August 14, 2008 "
For information on the North Bellingham Park and trails go to:
http://www.cob.org/documents/parks/development/projects/north-bellingham-trail-plan-draft.pdf
The City of Bellingham puts out a neighborhood newletter that covers all of the important changes going on in the various 23 neighborhoods. Very good information to keep up to date! See it here at:
http://www.cob.org/documents/mayor/boards-commissions/neighborhood/2008-03-neighborhood-news.pdf
Bennett Appraisals Provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
Per the city of Bellingham Website:
"City officials continue to seek input in the master planning for a recently acquired 20-acre park in north Bellingham known as "Cordata Park." More than 30 people participated in the first of a series of meetings to discuss the park and its amenities.
Interested residents are invited to participate in steering committee meetings held on the 2nd Thursday of every month from March through August. Discussion topics will include design elements of the park, naming the park, and trail alignment through the park.
Meetings will continue to be held in the Chapel Room of the Birchwood Community Presbyterian Church, 400 Meadowbrook Court, from 7-8:30 p.m. on the second Thursday of each month as follows:
Thursday, April 10, 2008Thursday, May 8, 2008 Thursday, June 12, 2008Thursday, July 10, 2008Thursday, August 14, 2008 "
For information on the North Bellingham Park and trails go to:
http://www.cob.org/documents/parks/development/projects/north-bellingham-trail-plan-draft.pdf
The City of Bellingham puts out a neighborhood newletter that covers all of the important changes going on in the various 23 neighborhoods. Very good information to keep up to date! See it here at:
http://www.cob.org/documents/mayor/boards-commissions/neighborhood/2008-03-neighborhood-news.pdf
Bennett Appraisals Provides residential appraisal services to the following areas:Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
Wednesday, January 30, 2008
Faster Appraisals, Online Ordering & Some Helpful Hints.
If you worked with appraisers ten years ago, you know how much technology has changed since then. What you might not realize is that there have been many developments in technology and e-commerce that have improved turnaround times on appraisal assignments. We're taking advantage of them. Are you taking advantage of every opportunity you have to speed up the process? Here are some suggestions.
1. Are you ordering appraisals online? With online ordering, you can recieve automatic e-mail acknowledgements that the assignment was received, and fast, secure .PDF format report delivery. It's the single biggest time saver available to both of us! We don't have to retype information from a fax, and you don't have to wonder whether we received the order.
2. Are you providing complete and accurate information about the subject property? There's nothing like being one number off on the street address to add unnecessary time to an appraisal assignment. And if you have a tax parcel number, plat map number, subdivision name or anything else that uniquely identifies the property
3. Are you letting us know up front any details about the property that might make it unique? . What takes time is analyzing how unique features contribute to or detract from what otherwise would be a property's market value. Let us know up front when you order your report if there are unique features of the home or surrounding area — for example, it's had a recent addition put on, it's subject to zoning restrictions, it's prone to flooding.
4. Are you making the occupants of the home aware of what to expect? One of the most time consuming parts of the appraisal process is setting an appointment with the occupants of the home. Some homeowners are understandably uncomfortable with the fact a stranger wants to come in their house and look around and make notes. Some think they have to make the place spotless before the appraiser comes by, thinking that will make the house appraise higher. So they put off the appointment until they can get around to cleaning. Encourage them to call us if they want to familiarize themselves with our staff and services. And tell them it's in their interest to set the appointment as quickly as possible!
5. Are you using our website as a resource to keep track of your report's status? Phone and fax tag are a thing of the past with up to the minute status updates available online, anytime, 24/7. As each important milestone in an assignment is completed, that information is available to you online. It's never been easier and faster to keep track of your report's status.
Bennett Appraisals Provides residential appraisal services to the following areas:
Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
1. Are you ordering appraisals online? With online ordering, you can recieve automatic e-mail acknowledgements that the assignment was received, and fast, secure .PDF format report delivery. It's the single biggest time saver available to both of us! We don't have to retype information from a fax, and you don't have to wonder whether we received the order.
2. Are you providing complete and accurate information about the subject property? There's nothing like being one number off on the street address to add unnecessary time to an appraisal assignment. And if you have a tax parcel number, plat map number, subdivision name or anything else that uniquely identifies the property
3. Are you letting us know up front any details about the property that might make it unique? . What takes time is analyzing how unique features contribute to or detract from what otherwise would be a property's market value. Let us know up front when you order your report if there are unique features of the home or surrounding area — for example, it's had a recent addition put on, it's subject to zoning restrictions, it's prone to flooding.
4. Are you making the occupants of the home aware of what to expect? One of the most time consuming parts of the appraisal process is setting an appointment with the occupants of the home. Some homeowners are understandably uncomfortable with the fact a stranger wants to come in their house and look around and make notes. Some think they have to make the place spotless before the appraiser comes by, thinking that will make the house appraise higher. So they put off the appointment until they can get around to cleaning. Encourage them to call us if they want to familiarize themselves with our staff and services. And tell them it's in their interest to set the appointment as quickly as possible!
5. Are you using our website as a resource to keep track of your report's status? Phone and fax tag are a thing of the past with up to the minute status updates available online, anytime, 24/7. As each important milestone in an assignment is completed, that information is available to you online. It's never been easier and faster to keep track of your report's status.
Bennett Appraisals Provides residential appraisal services to the following areas:
Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts, via the Canadian Border.
Friday, January 25, 2008
Bennett Appraisals Providing Residential Appraisal Services For Attorneys
Attorneys and Accountants rely on our values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property. We understand their needs and are used to dealing with all parties involved. We provide appraisal reports that meet the requirements of the courts and various agencies.
Estate Appraisals
Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of death. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Divorce Appraisals
As an attorney handling a divorce, your needs oftentimes include an appraisal to establish fair market value for the residential real estate involved. Often the divorce date differs from the date you order the appraisal. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of divorce. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Forclosure
For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" value, to know your potential charge-off liability. At Bennett Appraisals, we have experience in both providing snapshots of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your timeline.
For a list of all our servicies for attorneys go to:
Estate Appraisals
Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of death. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Divorce Appraisals
As an attorney handling a divorce, your needs oftentimes include an appraisal to establish fair market value for the residential real estate involved. Often the divorce date differs from the date you order the appraisal. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of divorce. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Forclosure
For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" value, to know your potential charge-off liability. At Bennett Appraisals, we have experience in both providing snapshots of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your timeline.
For a list of all our servicies for attorneys go to:
Interesting Video on Mortgage Guidelines & How They Affect Everyone.
Check out this link to a very interesting video. Dan Green who puts together the website http://www.themortgagereports.com/ has put together a very helpful and basic video presentation explaining how mortgage guidelines can affect everyone in the real estate industry as well as anyone who has a mortgage. It explains in very common terms (stick figure drawings!) what is happening in the mortgage industry today. Interesting stuff for those of us in the real estate industry!
Link to video: http://www.wellcomemat.com/video/38BAC1820B
Link to video: http://www.wellcomemat.com/video/38BAC1820B
Thursday, January 24, 2008
Bennett Appraisals Adds New Certified Residential Appraiser To Staff
Bennett Appraisals Gets A New Certified Residential Appraiser (edit/delete)
Merrick passes Washington Certified Residential Appraiser exam
Chantale Merrick of Bennett Appraisals passed the Washington Certified Residential Real Estate Appraiser Exam. She had to complete over 2500 hours of on-site appraisal experience and 200 hours of appraisal education before she was permitted to take the rigorous examination. A state certified residential appraiser can appraise one to four residential unit properties without regard to value or complexity.
Merrick passes Washington Certified Residential Appraiser exam
Chantale Merrick of Bennett Appraisals passed the Washington Certified Residential Real Estate Appraiser Exam. She had to complete over 2500 hours of on-site appraisal experience and 200 hours of appraisal education before she was permitted to take the rigorous examination. A state certified residential appraiser can appraise one to four residential unit properties without regard to value or complexity.
Interesting Online presentation, WA Energy Star
If you live in washington and you are interested in energy efficient homes there is a website that you might find very interesting. Energy Star homes are designed, built and performance tested to offer enhanced comfort, healthier indoor air, energy savings and peace of mind. These homes are as much as 30% more efficient than homes simply built to code standards, making them some of the most energy efficient homes on the market today.
Homes that earn the Enegy Star qualification must meet guidelines for energy efficiency set by the U.S. Environmental Protection Agency.
Energy Star Washington Home Tour: http://www.northwestenergystar.com/neea_web/index_WA.html
US Environmental Agency Energy Star Brochure: http://www.energystar.gov/ia/partners/downloads/consumer_brochure.pdf
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
Homes that earn the Enegy Star qualification must meet guidelines for energy efficiency set by the U.S. Environmental Protection Agency.
Energy Star Washington Home Tour: http://www.northwestenergystar.com/neea_web/index_WA.html
US Environmental Agency Energy Star Brochure: http://www.energystar.gov/ia/partners/downloads/consumer_brochure.pdf
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
Recycling What You Cannot Use A Great Idea
A few counties in Washington state are participating in a program that recycles items that are too good to throw away. This is an excellent idea unfortunately not all of Washington's counties are participating ( good on ya, participating Counties!).
Per website info: "2good2toss.com is Washington's online exchange for reusable building materials and household items. The objective of the site is to facilitate the recycling and repurposing of materials and items that would otherwise be disposed at Washington state landfills and waste to energy facilities, in addition to promoting an important environmental ethic."
This is a website where you can place an add to look for or get rid of a perfectly good item many things are free or set at very reasonable prices. No illegal materials. No hazardous materials. Buyer beware. Check out this website: http://www.2good2toss.com/
Bennett Appraisals provides residential appraisal service to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
Per website info: "2good2toss.com is Washington's online exchange for reusable building materials and household items. The objective of the site is to facilitate the recycling and repurposing of materials and items that would otherwise be disposed at Washington state landfills and waste to energy facilities, in addition to promoting an important environmental ethic."
This is a website where you can place an add to look for or get rid of a perfectly good item many things are free or set at very reasonable prices. No illegal materials. No hazardous materials. Buyer beware. Check out this website: http://www.2good2toss.com/
Bennett Appraisals provides residential appraisal service to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
Green Building & Valuation
There has been very little information and or training in the field of "Green Home" valuation and things are starting to change! In Vancouver BC this year an international conference was held on building sustainablity and its effect on valuation. While this pertains primarily to commercial buildings it would hard to imagine that this movement would not funnel down to all aspect of building including residential.
According to the Vancouver Valuation Accord's Website: "The Vancouver Valuation Accord is a response to the evolving importance of sustainability and the need for its implications to be understood in valuations and appraisals. It is a commitment to review sustainability and valuation, including education, standards and practices, with the aim of improving understanding of their relationship. The Accord will be developed and managed through this web site"
If you are interested in all of the aspects of Green Building check out:
http://www.vancouveraccord.org/about.html
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
According to the Vancouver Valuation Accord's Website: "The Vancouver Valuation Accord is a response to the evolving importance of sustainability and the need for its implications to be understood in valuations and appraisals. It is a commitment to review sustainability and valuation, including education, standards and practices, with the aim of improving understanding of their relationship. The Accord will be developed and managed through this web site"
If you are interested in all of the aspects of Green Building check out:
http://www.vancouveraccord.org/about.html
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
City of Mount Vernon's Historic Downtown & Waterfront Redevelopment plan
The City of Mount Vernon WA has started a redevelopment plan for its historic downtown & riverfront area. One of the main goals of this re-development plan is to provide the city's downtown area with 100 year flood protection. Flooding probability has been a big barrier to the investment and business sector in the downtown area in the past. Here is the the latest power point presentation outlining the master plan:
http://www.ci.mount-vernon.wa.us/imageuploads/Media-2110.pdf
For the webpage on City of Mount Vernon's Historic Downtown & Waterfront Redevelopment plan go to:
http://www.ci.mount-vernon.wa.us/page.asp_Q_navigationid_E_652
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
The City of Mount Vernon WA has started a redevelopment plan for its historic downtown & riverfront area. One of the main goals of this re-development plan is to provide the city's downtown area with 100 year flood protection. Flooding probability has been a big barrier to the investment and business sector in the downtown area in the past. Here is the the latest power point presentation outlining the master plan:
http://www.ci.mount-vernon.wa.us/imageuploads/Media-2110.pdf
For the webpage on City of Mount Vernon's Historic Downtown & Waterfront Redevelopment plan go to:
http://www.ci.mount-vernon.wa.us/page.asp_Q_navigationid_E_652
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
City of Bellingham; Research Your Home's Past
Via the City of Bellingham's wonderful (new edition) website; the Whatcom museum of History & Art has put out a four page pdf on how to research the history of your historic home. It shows you where to look to get the pertinent information and it mentions some of the publications that may be handy to your Bellingham specific search ex. R. L. Polk Bellingham City Directories, which date back to the late 1890s and, list the names and occupations of Bellingham residents.
Whatcom Museum of History & Art Tracing the Past Owners of Your Home PDF:
http://www.cob.org/documents/planning/cd/historic/house-hist-research.pdf
For the Whatcom Museum of History & Art Photo Archive Info:
http://www.whatcommuseum.org/pages/archives/archives.htm
Bennett Appraisals provides residential appraisal service to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
Whatcom Museum of History & Art Tracing the Past Owners of Your Home PDF:
http://www.cob.org/documents/planning/cd/historic/house-hist-research.pdf
For the Whatcom Museum of History & Art Photo Archive Info:
http://www.whatcommuseum.org/pages/archives/archives.htm
Bennett Appraisals provides residential appraisal service to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts
Point Roberts, WA Unique In Its Isolation & Beauty
Point Roberts, Whatcom County WA, is an approximately 5-square-mile area located twenty miles south of Vancouver, British Columbia. What makes it unique is that it shares an international border with Tsawwassen, a southern suburb of Vancouver BC. The geographic isolation of Point Roberts from the rest of the United States is the result of a 19th century boundary dispute between the United States and Great Britain. The dispute was finally resolved with a 1846 Treaty, which established the 49th parallel as the international boundary on the western North American mainland. To reach Point Roberts by land from the main body of Washington State first requires driving twenty-three miles from Blaine, Washington across southwestern British Columbia. The trip to Point Roberts requires the customs formalities of passing through two international borders! Thank goodness for Nexus!
Point Roberts Interesting Links
http://www.co.whatcom.wa.us/pds/planning/PointRoberts.htm http://www.co.whatcom.wa.us/pds/planning/documents/pt_roberts_char.pdf http://www.co.whatcom.wa.us/parks/lighthouse/lighthouse.jsp http://www.pointrobertschamber.com/ http://www.pointrobertsmarina.com/ http://www.allpointbulletin.com/
Per the Whatcom County Website; "Point Roberts is a unique area of Whatcom County because of its relatively small size, its mixed development character, its relative isolation, and the constraints on normal growth patterns caused by the international border. This geographic isolation from the remainder of Whatcom County complicates the direct application of other zone districts within Title 20"
See Pdf: http://www.co.whatcom.wa.us/pds/pdf/planning/landuse_brochures/lubroch-H.pdf
For Point Roberts Residential Appraisal call Bennett Appraisals 360-746-0224
www.bennett4appraisals.com
Point Roberts Interesting Links
http://www.co.whatcom.wa.us/pds/planning/PointRoberts.htm http://www.co.whatcom.wa.us/pds/planning/documents/pt_roberts_char.pdf http://www.co.whatcom.wa.us/parks/lighthouse/lighthouse.jsp http://www.pointrobertschamber.com/ http://www.pointrobertsmarina.com/ http://www.allpointbulletin.com/
Per the Whatcom County Website; "Point Roberts is a unique area of Whatcom County because of its relatively small size, its mixed development character, its relative isolation, and the constraints on normal growth patterns caused by the international border. This geographic isolation from the remainder of Whatcom County complicates the direct application of other zone districts within Title 20"
See Pdf: http://www.co.whatcom.wa.us/pds/pdf/planning/landuse_brochures/lubroch-H.pdf
For Point Roberts Residential Appraisal call Bennett Appraisals 360-746-0224
www.bennett4appraisals.com
Foreclosure REO Appraisals in Whatcom, Skagit & Snohomish Counties
Foreclosure/REO appraisal
Homes in foreclosure and homes that have reverted to your institution's ownership present special appraisal challenges. At Bennett Appraisals, we're more than ready and able to help.
For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" value, to know your potential charge-off liability. At Bennett Appraisals, we have experience in both providing snapshots of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your timeline.
Owners of property in foreclosure, of course, present special challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the property already, they may have neglected care of the home for some time -- or worse, caused damage. We have the experience and training to deal with the special dynamics of a foreclosure appraisal, and you should not hesitate to rely on us.
For a property that has already reverted to Real Estate Owned, you likewise will be interested in a quick disposition. But you may want to know and compare three values: As-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the work required to make the property marketable to full market value commensurate with competing properties in the area, and, somewhere in-between, with minimal investment in repairs -- selling the property quickly, probably as a "fixer-upper." Again, we understand your timeline and the unique circumstances of an REO property, as well as the special information you'll need -- competing listings, market trends, and the like.
Please browse our website to learn more about our qualifications, expertise and services offered:
Bennett Appraisals serves the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts.
Homes in foreclosure and homes that have reverted to your institution's ownership present special appraisal challenges. At Bennett Appraisals, we're more than ready and able to help.
For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" value, to know your potential charge-off liability. At Bennett Appraisals, we have experience in both providing snapshots of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your timeline.
Owners of property in foreclosure, of course, present special challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the property already, they may have neglected care of the home for some time -- or worse, caused damage. We have the experience and training to deal with the special dynamics of a foreclosure appraisal, and you should not hesitate to rely on us.
For a property that has already reverted to Real Estate Owned, you likewise will be interested in a quick disposition. But you may want to know and compare three values: As-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the work required to make the property marketable to full market value commensurate with competing properties in the area, and, somewhere in-between, with minimal investment in repairs -- selling the property quickly, probably as a "fixer-upper." Again, we understand your timeline and the unique circumstances of an REO property, as well as the special information you'll need -- competing listings, market trends, and the like.
Please browse our website to learn more about our qualifications, expertise and services offered:
Bennett Appraisals serves the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts.
Homeowner Appraisal Services in Whatcom, Skagit & Snohomish Counties
Homeowner Appraisal Services
Homeowners need appraisals or appraisal reviews for a variety of reasons, including a mortgage refinance, home equity loans, Pre-listing services, and PMI removal. When you order an appraisal or review from us, you can rest assured that you will get the best in professional service, courtesy, and quality.
Refinance / Home Equity
Be sure that you request us if your lender asks you for YOUR choice of appraisal firms. More than likely we are already on their "approved list", and if not we will quickly provide your lender with the necessary documentation to become approved.
For-Sale-By-Owner (FSBO) / Pre-Listing Services
It's very hard to be objective about your own home because of your emotional attachment to it. A Professional Appraiser is objective and will tell you what you need to know, not just what you want to hear. In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal is very valuable as a negotiating tool once you have a potential buyer. It gives you something concrete to show your buyer. It's an independent third party's opinion of your home's value, and not just you saying how much your home is worth. Potential buyers know you have an emotional attachment to your home and will be far more likely to give credibility to a professional appraiser's value opinion than yours.
PMI Removal Appraisals
A popular money saver for homeowners in the last few years is to get the PMI removed from their mortgage loan, thus saving them money on their monthly payments. PMI stands for "Private Mortgage Insurance". Once your mortgage loan amount is down below 80% of the value of your home, in most cases you can apply to the lender to have the PMI removed from your loan, which will make your monthly payments go down. We are experienced in helping folks just like you rid themselves of unneeded and unwanted PMI insurance.
Field and Desktop Appraisal Review Services
Have you just received a copy of your appraisal and youd like to have a professional "double-check" it for accuracy or do you need a second opinion without the expense and delay of waiting for a whole new appraisal?
Appraisal Field Reviews: Well check your appraisal for accuracy and provide exterior "field inspections" of the subject and comparable properties for maximum appraisal certainty. Perfect for any situation demanding a second opinion on value.
Appraisal Desk Reviews: In a hurry and just want to "double-check" the facts? Well use our extensive Internet research capabilities and office files to deliver reviews with the highest degree of precision in the industry.
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts and certain areas of Island County.
Homeowners need appraisals or appraisal reviews for a variety of reasons, including a mortgage refinance, home equity loans, Pre-listing services, and PMI removal. When you order an appraisal or review from us, you can rest assured that you will get the best in professional service, courtesy, and quality.
Refinance / Home Equity
Be sure that you request us if your lender asks you for YOUR choice of appraisal firms. More than likely we are already on their "approved list", and if not we will quickly provide your lender with the necessary documentation to become approved.
For-Sale-By-Owner (FSBO) / Pre-Listing Services
It's very hard to be objective about your own home because of your emotional attachment to it. A Professional Appraiser is objective and will tell you what you need to know, not just what you want to hear. In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal is very valuable as a negotiating tool once you have a potential buyer. It gives you something concrete to show your buyer. It's an independent third party's opinion of your home's value, and not just you saying how much your home is worth. Potential buyers know you have an emotional attachment to your home and will be far more likely to give credibility to a professional appraiser's value opinion than yours.
PMI Removal Appraisals
A popular money saver for homeowners in the last few years is to get the PMI removed from their mortgage loan, thus saving them money on their monthly payments. PMI stands for "Private Mortgage Insurance". Once your mortgage loan amount is down below 80% of the value of your home, in most cases you can apply to the lender to have the PMI removed from your loan, which will make your monthly payments go down. We are experienced in helping folks just like you rid themselves of unneeded and unwanted PMI insurance.
Field and Desktop Appraisal Review Services
Have you just received a copy of your appraisal and youd like to have a professional "double-check" it for accuracy or do you need a second opinion without the expense and delay of waiting for a whole new appraisal?
Appraisal Field Reviews: Well check your appraisal for accuracy and provide exterior "field inspections" of the subject and comparable properties for maximum appraisal certainty. Perfect for any situation demanding a second opinion on value.
Appraisal Desk Reviews: In a hurry and just want to "double-check" the facts? Well use our extensive Internet research capabilities and office files to deliver reviews with the highest degree of precision in the industry.
Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts and certain areas of Island County.
Saturday, June 16, 2007
What exactly is a 100 Year Floodplain?
100-year floodplain - Is another term for a Special Flood Hazard Area, referring to any area that has at least a one percent annual chance of flooding. The term 100-year flood is misleading. It is not the flood that will occur once every 100 years. Rather, it is the flood that has a one percent chance of being equaled or exceeded each year. Thus, the 100-year flood could occur more than once in a relatively short period of time. Because this term is misleading, FEMA has properly defined it as the one percent annual chance flood. This one percent annual chance flood is now the standard used by most Federal and State agencies and by the National Flood Insurance Program. This term signifies that a structure located with the one percent annual chance floodplain delineated on the flood map has a 26 percent chance of suffering a flood during the term of a typical 30-year mortgage.On FEMA's Flood Insurance Rate Maps (FIRMs), these areas are darkly shaded and labeled with zone designations that begin with "A" or "V."
* All information deemed to be accurate but not guaranteed!
* All information deemed to be accurate but not guaranteed!
Port of Bellingham Wins National Boating Access Award
Per Port of Bellingham Press Release on June 07 2007: "The Port of Bellingham has received a national boating access award from the Boat Owners Association of the United States for its efforts to turn Bellingham's industrial waterfront into a boater-friendly downtown. Boat U.S is the nation's most powerful advocate for advancing the interests of boaters.
Boat U.S. recognized the Port, the City, the Waterfront Advisory Group, and all the project partners for planning to help meet local boating needs while preserving the city's working waterfront and for forging a model for other communities to follow..The planned marina and waterfront redevelopment are the subject of a feature article in the May issue of Boat U.S. Magazine, the world's largest publication in recreational boating with a circulation of nearly 670,000 subscribers. To read this article click here.
The Port is planning to convert Georgia-Pacific's industrial wastewater treatment lagoon into a new marina that includes nearly a mile of new public trails around the breakwater and innovative, salmon-friendly features such as a fish passageway through breakwater opposite the marina entrance. The Port is also planning to put in visitor boating docks along the Whatcom Waterway to help boaters better connect with downtown and the New Whatcom redevelopment area".
Boat U.S. recognized the Port, the City, the Waterfront Advisory Group, and all the project partners for planning to help meet local boating needs while preserving the city's working waterfront and for forging a model for other communities to follow..The planned marina and waterfront redevelopment are the subject of a feature article in the May issue of Boat U.S. Magazine, the world's largest publication in recreational boating with a circulation of nearly 670,000 subscribers. To read this article click here.
The Port is planning to convert Georgia-Pacific's industrial wastewater treatment lagoon into a new marina that includes nearly a mile of new public trails around the breakwater and innovative, salmon-friendly features such as a fish passageway through breakwater opposite the marina entrance. The Port is also planning to put in visitor boating docks along the Whatcom Waterway to help boaters better connect with downtown and the New Whatcom redevelopment area".
Too Much Time On Your Hands? Volunteering Info
Too Much Time on Your Hands?.... Volunteer Resources in Whatcom Co WA
Do you have a skills and or talents that you can share? Don't know where to start? There are a bunch of programs out there to match your skills and talents to specific volunteer work!
Volunteer Match: http://www.volunteermatch.org/bymsa/m860/c/opp1.html
Whatcom Volunteer Center: http://www.whatcomvolunteer.org/
City of Bellingham Parks Volunteer: http://www.cob.org/parks/volunteer/
"Small service is true service"-------William Wordsworth
"Helping out is not some special skill. It is not the domain of rare individuals. It is not confined to a single part or time of our lives. We simply heed the call of that natural caring impulse and follow where it leads" -------------------Ram Dass and Paul Gorman
Do you have a skills and or talents that you can share? Don't know where to start? There are a bunch of programs out there to match your skills and talents to specific volunteer work!
Volunteer Match: http://www.volunteermatch.org/bymsa/m860/c/opp1.html
Whatcom Volunteer Center: http://www.whatcomvolunteer.org/
City of Bellingham Parks Volunteer: http://www.cob.org/parks/volunteer/
"Small service is true service"-------William Wordsworth
"Helping out is not some special skill. It is not the domain of rare individuals. It is not confined to a single part or time of our lives. We simply heed the call of that natural caring impulse and follow where it leads" -------------------Ram Dass and Paul Gorman
WA 2007 First Quarter Housing Stats
WA 2007 First Quarter Housing Market PDF (Washington State University) Info.
The Washington Center for Real Estate Research (WCRER) An excellent resource for those in the Washington State Real Estate Industry.
The Center was created in 1989 by the Washington State University Board of Regents to achieve the university's mission of education, research and service in the real estate Industry.
Per their website: "The Center's objectives under this mission include providing research and educational tools to real estate licensees, offering relevant services to practitioners in related businesses, cooperating with state and local government agencies, and keeping consumers informed about important real estate issues. The ultimate goal of the Center is to provide a wide range of useful and understandable information, analysis and knowledge using academic methods in practical context while reporting findings in common language."
For helpful info go to: http://www.cb.wsu.edu/~wcrer/ (then click on Housing Market Snapshot 1st quarter PDF. for WA County Info)
The Washington Center for Real Estate Research (WCRER) An excellent resource for those in the Washington State Real Estate Industry.
The Center was created in 1989 by the Washington State University Board of Regents to achieve the university's mission of education, research and service in the real estate Industry.
Per their website: "The Center's objectives under this mission include providing research and educational tools to real estate licensees, offering relevant services to practitioners in related businesses, cooperating with state and local government agencies, and keeping consumers informed about important real estate issues. The ultimate goal of the Center is to provide a wide range of useful and understandable information, analysis and knowledge using academic methods in practical context while reporting findings in common language."
For helpful info go to: http://www.cb.wsu.edu/~wcrer/ (then click on Housing Market Snapshot 1st quarter PDF. for WA County Info)
Free/Awsome Online Courses with the US SBA
Awesome & Free Online Courses with the U. S. Small Business Administration
The more we navigate around the U.S. Small Business Administration's website the more information we find! Don't waste money on all of those business model books...when there is so much free info out there! There are courses on the following:
Starting a business
Business Planning
Business Management
Financing & Accounting
Marketing and Advertising
Government Contracting
Risk Management and Cyber Security
E- Commerce
International Trade
Fedreal Tax Training
Small Business Retirement
There are some great online courses available online at the following website:
http://www.sba.gov/services/training/onlinecourses/index.html
P.S. You have to fill out a short form to proceed but it is painless and worth it
The more we navigate around the U.S. Small Business Administration's website the more information we find! Don't waste money on all of those business model books...when there is so much free info out there! There are courses on the following:
Starting a business
Business Planning
Business Management
Financing & Accounting
Marketing and Advertising
Government Contracting
Risk Management and Cyber Security
E- Commerce
International Trade
Fedreal Tax Training
Small Business Retirement
There are some great online courses available online at the following website:
http://www.sba.gov/services/training/onlinecourses/index.html
P.S. You have to fill out a short form to proceed but it is painless and worth it
FHA Loans and Manufactured Homes
According to the FHA Website here are the manufactured home guidelines required for getting a FHA loan:
A Title I loan for a manufactured home requires one of the following:
A certificate label attached to the home, or
A label verification letter. Obtain a label verification letter by visiting the website of the HUD approved contractor, the Institute for Building Technology and Safety (IBTS) A Title II loan requires all of the following:
A certificate label or label verification letter.
The placement of the home on a permanent foundation that complies with the Permanent Foundations Guide for Manufactured Housing (PFGMH).
A certification from a licensed professional engineer verifying compliance with the PFGMH.
The most common permanent foundation errors delaying the approval of an FHA-insured loan for a manufactured home are:
The foundation footings that are not set below the frost line
Dry-stacked piers are used instead of required piers with mortared head and bed joints
The use of ground anchors - because FHA doesn't accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils.
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
The most common errors that may cause a delay are:
The foundation footings are not set below the frost line
The use of dry-stacked piers are used instead of the required piers with mortared head and bed joints
Ground anchors are used, because FHA does not accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure, that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
Disclaimer: Bennett Appraisals does not promote any program or products we just appraise SFR properties in Whatcom, Skagit and Snohomish Counties WA. All information deemed to be accurate but not guaranteed.
A Title I loan for a manufactured home requires one of the following:
A certificate label attached to the home, or
A label verification letter. Obtain a label verification letter by visiting the website of the HUD approved contractor, the Institute for Building Technology and Safety (IBTS) A Title II loan requires all of the following:
A certificate label or label verification letter.
The placement of the home on a permanent foundation that complies with the Permanent Foundations Guide for Manufactured Housing (PFGMH).
A certification from a licensed professional engineer verifying compliance with the PFGMH.
The most common permanent foundation errors delaying the approval of an FHA-insured loan for a manufactured home are:
The foundation footings that are not set below the frost line
Dry-stacked piers are used instead of required piers with mortared head and bed joints
The use of ground anchors - because FHA doesn't accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils.
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
The most common errors that may cause a delay are:
The foundation footings are not set below the frost line
The use of dry-stacked piers are used instead of the required piers with mortared head and bed joints
Ground anchors are used, because FHA does not accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure, that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
Disclaimer: Bennett Appraisals does not promote any program or products we just appraise SFR properties in Whatcom, Skagit and Snohomish Counties WA. All information deemed to be accurate but not guaranteed.
HUD Concept Home Online Video- Check it out.
Check out the online Video Demo of HUD and PATH's Concept Home
http://www.pathnet.org/concepthomedemo/
A Concept Home is an energy efficent, sustainable and affordable alternative:
Reduce building and energy costs by cutting construction building timeand improving the overall energy efficiency of all aspects of the home.
Increase the overall life expectancy of the home by increasing durability and reducing maintenance needs.
Create greater flexibility in the home design to allow adapt it to the changing needs of the occupants.
Reduce the overall impact of the home on the environment, including reducing job-site construction waste
http://www.pathnet.org/concepthomedemo/
A Concept Home is an energy efficent, sustainable and affordable alternative:
Reduce building and energy costs by cutting construction building timeand improving the overall energy efficiency of all aspects of the home.
Increase the overall life expectancy of the home by increasing durability and reducing maintenance needs.
Create greater flexibility in the home design to allow adapt it to the changing needs of the occupants.
Reduce the overall impact of the home on the environment, including reducing job-site construction waste
HUD Unveils America's First Affordable, efficient and Sustainable "Concept Home"
HUD is celebrating their first "concept" home, which is affordable, sustainable and energy efficient.
Per HUD press release: "With the PATH Concept Home, HUD has created a blueprint for the future of the American Dream by using innovative housing technologies that support our goals of sustainability, efficiency and flexibility in an affordable home," said HUD Assistant Secretary Darlene F. Williams. "June is National Homeownership Month and we are excited to showcase a home that is affordable to purchase, maintain and renovate as families and their needs change over time."
for interesting article go to:
http://www.hud.gov/news/release.cfm?content=pr07-082.cfm
For Partnership for Advanced Housing Technology go to:
http://www.pathnet.org/
Per HUD press release: "With the PATH Concept Home, HUD has created a blueprint for the future of the American Dream by using innovative housing technologies that support our goals of sustainability, efficiency and flexibility in an affordable home," said HUD Assistant Secretary Darlene F. Williams. "June is National Homeownership Month and we are excited to showcase a home that is affordable to purchase, maintain and renovate as families and their needs change over time."
for interesting article go to:
http://www.hud.gov/news/release.cfm?content=pr07-082.cfm
For Partnership for Advanced Housing Technology go to:
http://www.pathnet.org/
The Pros and Cons Of Non-Conforming Properties
Non-conformity can work to the advantage or disadvantage of the owner of the non-conforming property.
A house that has not been well maintained but is in a neighborhood of well kept homes will benefit from the overall good impression created by the neighborhood and its desirability. This is an example of the principle of progression.
A House that has been meticulously maintained in a neighborhood of homes in a state of disrepair will suffer from the generally unfavorable impression created. This is an example of the principle of regression.
A house that has not been well maintained but is in a neighborhood of well kept homes will benefit from the overall good impression created by the neighborhood and its desirability. This is an example of the principle of progression.
A House that has been meticulously maintained in a neighborhood of homes in a state of disrepair will suffer from the generally unfavorable impression created. This is an example of the principle of regression.
What Business Plan? WA SBA Has Some Excellent Tips!
The Seattle District of the Small Business Administration puts out a PDF about doing business in Washington State. There is some excellent info on doing business in Washington, start up business checklists and some excellent advice on creating a business plan on pages 10 and 11.
Click on link below:
http://www.sba.gov/idc/groups/public/documents/wa_seattle/2007seargmar.pdf
Click on link below:
http://www.sba.gov/idc/groups/public/documents/wa_seattle/2007seargmar.pdf
Taking Tips From The SBA, Business Management and Planning
Wow there is a ton of information available online....However finding pertinent and accurate infomation can be all so encompassing! We recently found this online info from the Small Business Administration to be helpful.
Small Business Administration, Business Planning and Management Tools:
http://www.sba.gov/tools/resourcelibrary/publications/serv_pub_mplan.html
Small Business Administration, Business Planning and Management Tools:
http://www.sba.gov/tools/resourcelibrary/publications/serv_pub_mplan.html
Land Division: What Is A Short Plat?
Sometimes dividing a property in Whatcom County WA can be tricky.
A Short Plat is a division of land into 4 or fewer lots and by state law anyone wanting to divide a property for purpose of tranfer, sale or lease must obtain approval from Whatcom county or the City of Bellingham (whoever has jurisdiction over the land).
Certain criteria must be met before a short plat can be approved
1. There needs to be an adequate source of water for each lot.
2. There must be legal/ safe vehicular access available to each lot.
3. Building sites must be outside of shoreline, streams and wetland buffers.
4. Zoning: Lot sizes must be legally permissable
5. Lot of Record Status.
6. Are there critical areas, geological hazards, flood zones?
7. A survey depicting the new lots, their accesses, etc. etc.
8. Time, money and patience!
* Disclaimer all information deemed to be accurate, but (county guidelines change) not guaranteed!!
A Short Plat is a division of land into 4 or fewer lots and by state law anyone wanting to divide a property for purpose of tranfer, sale or lease must obtain approval from Whatcom county or the City of Bellingham (whoever has jurisdiction over the land).
Certain criteria must be met before a short plat can be approved
1. There needs to be an adequate source of water for each lot.
2. There must be legal/ safe vehicular access available to each lot.
3. Building sites must be outside of shoreline, streams and wetland buffers.
4. Zoning: Lot sizes must be legally permissable
5. Lot of Record Status.
6. Are there critical areas, geological hazards, flood zones?
7. A survey depicting the new lots, their accesses, etc. etc.
8. Time, money and patience!
* Disclaimer all information deemed to be accurate, but (county guidelines change) not guaranteed!!
Understanding Reverse Mortgages
There are some excellent resources out there to become familiar with the reverse mortgage process.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
Understanding Reverse Mortgages
There are some excellent resources out there to become familiar with the reverse mortgage process.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
Whatcom County Geographic Information Systems (GIS)
Wondering what the zoning, etc. etc. is on a specific property? Whatcom County has excellent GIS capabilitites online
Geographic Information Systems (GIS) is a system of hardware, software, and procedures set up to support the capture, management, manipulation, analysis, modeling and display of spatially-referenced data for solving complex planning and management problems that involve data which is spatially referenced to the earth.
http://www.co.whatcom.wa.us/pds/planning/gis/index.jsp
Skagit County has the same capabilities w/ IMap:
http://www.skagitcounty.net/GIS/Applications/iMap/asp/iMap.asp
Geographic Information Systems (GIS) is a system of hardware, software, and procedures set up to support the capture, management, manipulation, analysis, modeling and display of spatially-referenced data for solving complex planning and management problems that involve data which is spatially referenced to the earth.
http://www.co.whatcom.wa.us/pds/planning/gis/index.jsp
Skagit County has the same capabilities w/ IMap:
http://www.skagitcounty.net/GIS/Applications/iMap/asp/iMap.asp
Computer Says What? The Limitations of Automated Valuation Models
Lenders and brokers using Automated Valuation Models (AVMs) and homeowners using "free online home values" to determine the value of a property need to know some of the major limitations of those models AVMs have three principal limitations:
First, they are dependent upon the accuracy, comprehensiveness, and timeliness of the data they use. Data issues can include incomplete public records, non arms-length transaction records, insufficient sales of properties with comparable features within a specified geographic area, and a lag between the time when the market data are current and the AVM uses the data to generate an estimate of value.
Second, AVMs cannot be used to determine the physical condition and relative marketability of a property.
Third, AVMs can never fully incorporate the breadth of knowledge and judgment of a skilled appraiser
For more information visit our website:
http://www.bennett4appraisals.com/AboutAVM
First, they are dependent upon the accuracy, comprehensiveness, and timeliness of the data they use. Data issues can include incomplete public records, non arms-length transaction records, insufficient sales of properties with comparable features within a specified geographic area, and a lag between the time when the market data are current and the AVM uses the data to generate an estimate of value.
Second, AVMs cannot be used to determine the physical condition and relative marketability of a property.
Third, AVMs can never fully incorporate the breadth of knowledge and judgment of a skilled appraiser
For more information visit our website:
http://www.bennett4appraisals.com/AboutAVM
Real Property's Life Cycle, Growth, Equilibrium, Decline and Revitalization
In terms of the effects of change on real property, ordinary physical deterioration and market demand have indicated 4 stages through which an improved property will pass:
Growth- When improvements are made and property demand expands
Equlibrium or Stability- When the property undergoes little change
Decline- When the property requires an increasing amount of upkeep to retain its original utility while demands slackens
Revitalization or Rehabilitation- Which may occur if the demand increases, serving to stimulate property renovation.
The first three stages of a property's life cycle are also termed development, maturity and old age. The principle of growth, equilibrium, decline and revitalization can also apply to entire neighborhoods.
Bellingham's neighborhoods are constantly changing it is very interesting to see some of the changes taking place because of new external influences etc.
Growth- When improvements are made and property demand expands
Equlibrium or Stability- When the property undergoes little change
Decline- When the property requires an increasing amount of upkeep to retain its original utility while demands slackens
Revitalization or Rehabilitation- Which may occur if the demand increases, serving to stimulate property renovation.
The first three stages of a property's life cycle are also termed development, maturity and old age. The principle of growth, equilibrium, decline and revitalization can also apply to entire neighborhoods.
Bellingham's neighborhoods are constantly changing it is very interesting to see some of the changes taking place because of new external influences etc.
Ferndale's (WA) Centennial Riverwalk
According to the latest E- Newsletter put out by the City of Ferndale (Spring 2007):
The "Riverview Plaza and Trail Plan", has been re-titled the "Centennial Riverwalk" and has moved from the planning stage to the building stage with the securing of funding to carry out the project. The project is anticipated to provide a long needed spark that will hopefully start a productive period of downtown re-development and revitalization.
See the plan:
Click on plan at the top of the page:http://www.ci.ferndale.wa.us/planning/planning.php
This link may take awhile to load: http://www.ci.ferndale.wa.us/planning/Riverview%20Plaza%20Plan.pdf
The "Riverview Plaza and Trail Plan", has been re-titled the "Centennial Riverwalk" and has moved from the planning stage to the building stage with the securing of funding to carry out the project. The project is anticipated to provide a long needed spark that will hopefully start a productive period of downtown re-development and revitalization.
See the plan:
Click on plan at the top of the page:http://www.ci.ferndale.wa.us/planning/planning.php
This link may take awhile to load: http://www.ci.ferndale.wa.us/planning/Riverview%20Plaza%20Plan.pdf
Excellent Resource Online Interactive Home Loan Education For The Public
The Mortgage Bankers Association (MBA) announced the launch of its updated Home Loan Learning Center (http://www.homeloanlearningcenter.com/), an interactive online resource that provides consumers with critical information on mortgages and the home-buying process.
MBA created the Home Loan Learning Center to inform consumers about options that best fit their life circumstances when buying a home. The Web site provides essential loan, credit and other valuable information using a simple and very user-friendly approach.
Call Bennett Appraisals for all of your appraisal needs 360-746-0224
www.bennett4appraisals.com
Disclaimer: Bennett Appraisals does not promote any other companies or products we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
MBA created the Home Loan Learning Center to inform consumers about options that best fit their life circumstances when buying a home. The Web site provides essential loan, credit and other valuable information using a simple and very user-friendly approach.
Call Bennett Appraisals for all of your appraisal needs 360-746-0224
www.bennett4appraisals.com
Disclaimer: Bennett Appraisals does not promote any other companies or products we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
Mount Vernon's (WA) 20 Year Plan For Re-Development
Mount Vernon's (WA) 20 Year Plan for Re-development and Flood Protection
Last year the city of Mount Vernon started a comprehensive redevelopment plan for its historic downtown area. The goal of that planning effort is to guide the business investment of public and private resources in the downtown area over a period of the next 20 years.
A key issue of this plan is to provide the City's downtown area with 100-year flood protection.
The threat of flooding poses a major barrier to investment in the downtown area and limits the City's efforts to create a vibrant, attractive, and safe waterfront district. In addition to flood protection, the project's goals include enhancing public access to the shoreline and river, promoting a mixed use redevelopment that will generate new jobs, providing an area for both housing and business development to occur in a manner that helps preserve the character of the downtown area.
For more infomration on the city's plan go to:
http://www.ci.mount-vernon.wa.us/page.asp_Q_directoryid_E_652_A_navigationid=652
Last year the city of Mount Vernon started a comprehensive redevelopment plan for its historic downtown area. The goal of that planning effort is to guide the business investment of public and private resources in the downtown area over a period of the next 20 years.
A key issue of this plan is to provide the City's downtown area with 100-year flood protection.
The threat of flooding poses a major barrier to investment in the downtown area and limits the City's efforts to create a vibrant, attractive, and safe waterfront district. In addition to flood protection, the project's goals include enhancing public access to the shoreline and river, promoting a mixed use redevelopment that will generate new jobs, providing an area for both housing and business development to occur in a manner that helps preserve the character of the downtown area.
For more infomration on the city's plan go to:
http://www.ci.mount-vernon.wa.us/page.asp_Q_directoryid_E_652_A_navigationid=652
The Homeowner Summit in Washington DC
In Washington DC - The U.S. Department of Housing and Urban Development hosted a Homeownership Summit with leading stakeholders in the housing community to discuss the impact of risky, high-priced loans, and actions against predatory lending and how modernizing the Federal Housing Administration During the summit, seven areas of agreement were determined for protecting and preserving homeownership:
Homeownership is still the best investment for the long-term.
Every responsible step must be taken to enable Americans to become homeowners.
Lending should be legal, fiscally responsible, and ethical.
Housing counseling is critical and borrowers must read the fine print before buying a home.
There is no place for predatory lending in the housing industry.
Modernization of the Federal Housing Administration is long overdue
A taxpayer-funded bailout will not resolve housing concerns
For the fact sheet about today's summit go to :
http://www.hud.gov/content/releases/pr07-063.pdf
Homeownership is still the best investment for the long-term.
Every responsible step must be taken to enable Americans to become homeowners.
Lending should be legal, fiscally responsible, and ethical.
Housing counseling is critical and borrowers must read the fine print before buying a home.
There is no place for predatory lending in the housing industry.
Modernization of the Federal Housing Administration is long overdue
A taxpayer-funded bailout will not resolve housing concerns
For the fact sheet about today's summit go to :
http://www.hud.gov/content/releases/pr07-063.pdf
Another Coastal City's Plan For Renovation; Big Plans for Everett's Waterfront
Wow, Bellingham is not the only city working to improve its waterfront; there are big changes in store for Everett's waterfront: From a new waterfront neighborhood to a new transportation hub slated for Mukilteo. According to the Port of Everett; it plans on spending approximately $200 million to redevelop the Everett waterfront.
Click on the following links for more infomation on the following projects:
Port Gardner Wharf
New Port Administration Building
Collins Building Redevelopment
12th Street Yacht Basin
10th Street Marine Park Improvements
Marina Recapitalization
Rail / Barge Transfer Facility
Marine Terminals Master Plan
Lehigh Cement Project
Mukilteo Tank Farm
Click on the following links for more infomation on the following projects:
Port Gardner Wharf
New Port Administration Building
Collins Building Redevelopment
12th Street Yacht Basin
10th Street Marine Park Improvements
Marina Recapitalization
Rail / Barge Transfer Facility
Marine Terminals Master Plan
Lehigh Cement Project
Mukilteo Tank Farm
Whatcom County Property Tax Appeals
Whatcom County Property Tax Appeals.... July 1st Deadline
Most localities determine your property tax burden based on an ad valorem assessment of the property's value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.
Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That's where we come in.
There are as many different procedures for appealing assessments as there are property taxing districts, so it's important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your particular jurisdiction.
Please note: It makes sense to do your own research before determining whether to go forward with a property assessment appeal, especially before you make the decision to hire a professional appraiser. However, according to the Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take "shortcuts" -- i.e., your research -- and use it on its face as part of our independent evaluation. When you hire us for an assessment appeal, you're commissioning an independent, third-party professional appraisal report. As such we do our own evaluation, beginning to end. If you're right that your property has been overvalued, an independent report such as ours will be even more persuasive than any other evidence you can marshal on your own. But it depends on our ability to do the work independently.
Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify on your behalf. Be assured that at Bennett Appraisals, we are able to professionally and persuasively testify at appeal hearings. Browse our website to learn more about our qualifications, expertise and services offered.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
For Infomation on Whtacom County Property Tax Appeals: http://www.co.whatcom.wa.us/assessor/taxguides/appeals/process.jsp
Most localities determine your property tax burden based on an ad valorem assessment of the property's value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.
Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That's where we come in.
There are as many different procedures for appealing assessments as there are property taxing districts, so it's important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your particular jurisdiction.
Please note: It makes sense to do your own research before determining whether to go forward with a property assessment appeal, especially before you make the decision to hire a professional appraiser. However, according to the Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take "shortcuts" -- i.e., your research -- and use it on its face as part of our independent evaluation. When you hire us for an assessment appeal, you're commissioning an independent, third-party professional appraisal report. As such we do our own evaluation, beginning to end. If you're right that your property has been overvalued, an independent report such as ours will be even more persuasive than any other evidence you can marshal on your own. But it depends on our ability to do the work independently.
Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify on your behalf. Be assured that at Bennett Appraisals, we are able to professionally and persuasively testify at appeal hearings. Browse our website to learn more about our qualifications, expertise and services offered.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
For Infomation on Whtacom County Property Tax Appeals: http://www.co.whatcom.wa.us/assessor/taxguides/appeals/process.jsp
What are (EEMs) Energy Efficient Mortgages?
In a time of escalating fuel and energy costs and an increase in energy efficient building practices, materials and appliances-- we wonder if this type of loan program may gain popularity? Here is some infomation we gathered on this interesting and rarely mentioned program:
What is an EEM?
When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEMs provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements. EEMs make it easier for borrowers to qualify for loans to purchase/ refinance homes with specific energy-efficiency improvements.
Conventional EEMs
Conventional EEMs can be offered by lenders who sell their loans to Fannie Mae and Freddie Mac. Conventional EEMs increase the purchasing power of buying an energy efficient home by allowing the lender to increase the borrower's income by a dollar amount equal to the estimated energy savings. The Fannie Mae loan also adjusts the value of the home to reflect the value of the energy efficiency measures.
FHA EEMs
FHA EEMs allow lenders to add 100 percent of the additional cost of cost-effective energy efficiency improvements to an already approved mortgage loan (as long as the additional costs do not exceed $4000 or 5 percent of the value of the home, up to a maximum of $8000, whichever is greater). No additional down payment is required, and the FHA loan limits won't interfere with the process of obtaining the EEM.
VA EEMs
The Veteran's Administration (VA) EEM is available to qualified military personnel, reservists and veterans for energy improvements when purchasing an existing primary home. The VA EEM caps energy improvements at $3,000-$6,000.
HERS, or Home Energy Rating Systems
A HERS report is similar to a miles-per-gallon rating on a car. HERS are program s which provide evaluations of individual primary homes energy-efficiency. A HERS report is prepared by a trained Energy Rater. Factors such as insulation, appliance efficiencies, window types, local climate, and utility rates are used to rate the home and calculate energy costs
To learn more about EEMs contact:
US Dept of Energy: http://www.energystar.gov/index.cfm?c=bldrs_lenders_raters.energy_efficient_mortgage
Fannie Mae: http://www.fanniemae.com/index.jhtml
Freddie Mac: http://www.freddiemac.com/
HUD: http://www.hud.gov/offices/hsg/sfh/eem/eemhome.cfm
Additional information about writing energy-efficient mortgages can be found on the Web sites:
U.S. Department of Housing and Urban Development (HUD) and the Residential Energy Services Network (Resnet)
For all of your FHA insured and Conventional Mortgage Appraisals contact:
Bennett Appraisals http://www.bennett4appraisals.com/
Disclaimer **All information deemed to be accurate but not guaranteed.
Disclaimer** Bennett Appraisals does not endorse any loan programs, we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
What is an EEM?
When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEMs provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements. EEMs make it easier for borrowers to qualify for loans to purchase/ refinance homes with specific energy-efficiency improvements.
Conventional EEMs
Conventional EEMs can be offered by lenders who sell their loans to Fannie Mae and Freddie Mac. Conventional EEMs increase the purchasing power of buying an energy efficient home by allowing the lender to increase the borrower's income by a dollar amount equal to the estimated energy savings. The Fannie Mae loan also adjusts the value of the home to reflect the value of the energy efficiency measures.
FHA EEMs
FHA EEMs allow lenders to add 100 percent of the additional cost of cost-effective energy efficiency improvements to an already approved mortgage loan (as long as the additional costs do not exceed $4000 or 5 percent of the value of the home, up to a maximum of $8000, whichever is greater). No additional down payment is required, and the FHA loan limits won't interfere with the process of obtaining the EEM.
VA EEMs
The Veteran's Administration (VA) EEM is available to qualified military personnel, reservists and veterans for energy improvements when purchasing an existing primary home. The VA EEM caps energy improvements at $3,000-$6,000.
HERS, or Home Energy Rating Systems
A HERS report is similar to a miles-per-gallon rating on a car. HERS are program s which provide evaluations of individual primary homes energy-efficiency. A HERS report is prepared by a trained Energy Rater. Factors such as insulation, appliance efficiencies, window types, local climate, and utility rates are used to rate the home and calculate energy costs
To learn more about EEMs contact:
US Dept of Energy: http://www.energystar.gov/index.cfm?c=bldrs_lenders_raters.energy_efficient_mortgage
Fannie Mae: http://www.fanniemae.com/index.jhtml
Freddie Mac: http://www.freddiemac.com/
HUD: http://www.hud.gov/offices/hsg/sfh/eem/eemhome.cfm
Additional information about writing energy-efficient mortgages can be found on the Web sites:
U.S. Department of Housing and Urban Development (HUD) and the Residential Energy Services Network (Resnet)
For all of your FHA insured and Conventional Mortgage Appraisals contact:
Bennett Appraisals http://www.bennett4appraisals.com/
Disclaimer **All information deemed to be accurate but not guaranteed.
Disclaimer** Bennett Appraisals does not endorse any loan programs, we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
Keeping Up With The Changes: Bellingham WA Neighborhoods
We are so fortunate to live in such a wonderful and beautiful place. Bellingham is constantly changing and as a Real Estate Professional it is imperative to keep up on all of the changes.
One of the best places to start is the City Of Bellingham's website. There is a ton of information about neighborhoods, zoning, zoning changes etc. etc
Here is a link for neighborhood services information:
http://www.cob.org/pcd/planning/neighborhoods/neighborhoods.htm
For neighborhood Planning, Zoning and Map Info information go to:
http://www.cob.org/pcd/planning/Neighborhood-plan-zone.htm
http://www.cob.org/gis/maps/neighborhoods.htm
For Planning and Community Development Info go to:
http://www.cob.org/pcd/index.htm
For detailed info go to the Planning Divison:
http://www.cob.org/pcd/planning/index.htm
For excellent information on Whatcom County go to:
http://www.co.whatcom.wa.us/index.jsp
Here are just a few of the many links available, there is a wealth on information available online!!
For all of your Appraisal Services go to www.bennett4appraisals.com
One of the best places to start is the City Of Bellingham's website. There is a ton of information about neighborhoods, zoning, zoning changes etc. etc
Here is a link for neighborhood services information:
http://www.cob.org/pcd/planning/neighborhoods/neighborhoods.htm
For neighborhood Planning, Zoning and Map Info information go to:
http://www.cob.org/pcd/planning/Neighborhood-plan-zone.htm
http://www.cob.org/gis/maps/neighborhoods.htm
For Planning and Community Development Info go to:
http://www.cob.org/pcd/index.htm
For detailed info go to the Planning Divison:
http://www.cob.org/pcd/planning/index.htm
For excellent information on Whatcom County go to:
http://www.co.whatcom.wa.us/index.jsp
Here are just a few of the many links available, there is a wealth on information available online!!
For all of your Appraisal Services go to www.bennett4appraisals.com
It Isn't Easy Being Green? It is Getting Easier For Builders
It Isn't Easy Being Green?..... It Is Becoming Easier For Builders To Go Green.
Based on a survey of National Association of Home Builders conducted last year by between 40% and 50% of the homes built in 2010 are expected to be green, containing at least three of five green building elements. That represents a major upsurge of activity in the green market.
Last year, according to McGraw-Hill estimates, an estimated 2% - or $7.4 billion - of the residential construction market was green.
There is an enormous market for sustainable, environmentally friendly and recycled building products, along with the greater availability of educational opportunities for builders, has accelerated green building's acceptance rate. By the end of 2007, more than half of National Association of Home Builder's members, who build more than 80 percent of the homes in this country, will be incorporating green practices into the development, design and construction of new homes.
For more information on the NAMB Green Home Building Guidlines go to:
http://www.nahb.org/publication_details.aspx?publicationID=1994§ionID=155
For Information on the Whatcom County Green Home Checklist go to:
http://biawc.com/builtgreen/Whatcom%20BuiltGreen.pdf
Based on a survey of National Association of Home Builders conducted last year by between 40% and 50% of the homes built in 2010 are expected to be green, containing at least three of five green building elements. That represents a major upsurge of activity in the green market.
Last year, according to McGraw-Hill estimates, an estimated 2% - or $7.4 billion - of the residential construction market was green.
There is an enormous market for sustainable, environmentally friendly and recycled building products, along with the greater availability of educational opportunities for builders, has accelerated green building's acceptance rate. By the end of 2007, more than half of National Association of Home Builder's members, who build more than 80 percent of the homes in this country, will be incorporating green practices into the development, design and construction of new homes.
For more information on the NAMB Green Home Building Guidlines go to:
http://www.nahb.org/publication_details.aspx?publicationID=1994§ionID=155
For Information on the Whatcom County Green Home Checklist go to:
http://biawc.com/builtgreen/Whatcom%20BuiltGreen.pdf
What To Expect During an Appraisal Inspection
For homeowners, a real estate appraisal is the linchpin to buying or selling their home. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender.
Before an Appraiser arrives, there are a few things you should know. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, you are entitled to receive a copy of the completed appraisal report from your lender.
To facilitate the appraisal process, it's beneficial to have these documents ready for the appraiser:
Written property agreements, such as a maintenance agreement for a shared driveway
Title policy that describes encroachments or easements
Most recent real estate tax bill and or legal description of the property
Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available)
A copy of the current listing agreement and broker's data sheet and Purchase Agreement if a sale is "pending".
Information on "Homeowners Associations" or condominium covenants and fees.
A list of "Proposed" improvements if the property is to be appraised "As Complete".
Once your appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but you should be available to answer questions about your property and be willing to point out any home improvements.
Here are some other suggestions:
Accessibility: Make sure that all areas of the home are accessible, especially to the attic and crawl space
Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but it is neccesary to see the floors, sinks, crawlspaces etc!!
Maintenance: Repair minor things like leaky faucets, siding, handrails, missing door handles and trim
FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan, be sure to ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: Install smoke detectors on all levels (especially near bedrooms); install handrails on all stairways; remove peeling paint and repaint the effected area; provide inspection access to the attic and crawl spaces.
For an appraisal demo for you or your clients:
http://www.bennett4appraisals.com/InspectionVideo
Before an Appraiser arrives, there are a few things you should know. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, you are entitled to receive a copy of the completed appraisal report from your lender.
To facilitate the appraisal process, it's beneficial to have these documents ready for the appraiser:
Written property agreements, such as a maintenance agreement for a shared driveway
Title policy that describes encroachments or easements
Most recent real estate tax bill and or legal description of the property
Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available)
A copy of the current listing agreement and broker's data sheet and Purchase Agreement if a sale is "pending".
Information on "Homeowners Associations" or condominium covenants and fees.
A list of "Proposed" improvements if the property is to be appraised "As Complete".
Once your appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but you should be available to answer questions about your property and be willing to point out any home improvements.
Here are some other suggestions:
Accessibility: Make sure that all areas of the home are accessible, especially to the attic and crawl space
Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but it is neccesary to see the floors, sinks, crawlspaces etc!!
Maintenance: Repair minor things like leaky faucets, siding, handrails, missing door handles and trim
FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan, be sure to ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: Install smoke detectors on all levels (especially near bedrooms); install handrails on all stairways; remove peeling paint and repaint the effected area; provide inspection access to the attic and crawl spaces.
For an appraisal demo for you or your clients:
http://www.bennett4appraisals.com/InspectionVideo
Friday, April 27, 2007
FHA Reverse Mortgages (HECM) are on the rise, what are the requirements? Call Bennett Appraisals for all FHA appraisal Services.
There is a new popular option for borrowers aged 62 and older; The (HECM) FHA insured reverse mortgage. This is an option for homeowners owners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home. The loan, commonly known as HECM, is funded by a lending institution such as a mortgage lender, bank, credit union or savings and loan association. Interested parties can get help and counseling by a HUD-approved HECM counselor and they will help you see if you qualify. For information on approved counselors go to: http://www.hud.gov/offices/hsg/sfh/hecm/hecmlist.cfm
Homeowners who meet the eligibility criteria can complete a reverse mortgage application by contacting a FHA-approved lending institution such as a bank, mortgage company, or savings and loan association. For a list of HECM FHA approved lenders go to: http://www.hud.gov/ll/code/llplcrit.html
Borrower Requirements:
Age 62 years/older, own your property, live in the property as a primary residence and participate in a consumer information session w an approved HECM councelor.
Mortgage Amount Based On:
Age of the youngest borrower, current interest rate, lesser of appraised value or FHA insurance limit.
Financial Requirements:
No income or credit qualifications are required of the borrower, No repayment as long as the property is the primary residence, closing costs may be finance in the mortgage.
Property Requirements:
Single Family home or 1-4 unit with one unit occupied by the borrower, HUD approved condos, Manufactured homes and leased land, Must meet FHA property standards and flood requirements.
For more information on FHA and HECM Reverse Mortgages see helpful links below:
http://www.hud.gov/offices/hsg/sfh/hecm/hecmhome.cfm
For information on all FHA loans go to:
http://www.hud.gov/offices/hsg/sfh/insured.cfm
Call Bennett Appraisals for all of your FHA and Appraisal Needs 360-746-0224
Website: www.bennett4appraisals.com
Homeowners who meet the eligibility criteria can complete a reverse mortgage application by contacting a FHA-approved lending institution such as a bank, mortgage company, or savings and loan association. For a list of HECM FHA approved lenders go to: http://www.hud.gov/ll/code/llplcrit.html
Borrower Requirements:
Age 62 years/older, own your property, live in the property as a primary residence and participate in a consumer information session w an approved HECM councelor.
Mortgage Amount Based On:
Age of the youngest borrower, current interest rate, lesser of appraised value or FHA insurance limit.
Financial Requirements:
No income or credit qualifications are required of the borrower, No repayment as long as the property is the primary residence, closing costs may be finance in the mortgage.
Property Requirements:
Single Family home or 1-4 unit with one unit occupied by the borrower, HUD approved condos, Manufactured homes and leased land, Must meet FHA property standards and flood requirements.
For more information on FHA and HECM Reverse Mortgages see helpful links below:
http://www.hud.gov/offices/hsg/sfh/hecm/hecmhome.cfm
For information on all FHA loans go to:
http://www.hud.gov/offices/hsg/sfh/insured.cfm
Call Bennett Appraisals for all of your FHA and Appraisal Needs 360-746-0224
Website: www.bennett4appraisals.com
Sunday, April 15, 2007
Bennett Appraisals Is Ready To Spring Into Action For You!!
Bennett Appraisals is ready to spring into action for you!
Spring is the season for growing real estate financial transactions. As your business grows, keep Bennett Appraisals in mind for all your appraisal needs. We are a local residential appraisal company serving Whatcom, Skagit and Snohomish Counties. You can count on our experience, professionalism, friendly service and dedication to serving you with timely appraisals. We are the "new generation" of appraisers using technology and its advancements to better the profession. We and our staff rise above the rest because we can provide:
Faster turn times on all appraisal orders. We will work overtime to get your orders completed.
Local experience and insight of the area's current market conditions.
Competitive fees on our wide range of residential services.
Online appraisal ordering, fast and seamless: Online appraisal ordering-Sign up here.
Visa and Mastercard payments through Pay Pal.
Excellent communication and updates on appraisal orders.
An office phone that forwards to a mobile phone when we are out of the office.
The latest appraisal technology, computer software, and techniques.
Professional and accurate appraisal reports that cover all the important details. Interior/ exterior photos and floodmaps in URAR forms are always included.
Friendly customer service! Our friendly staff is there to answer any questions you may have.
Professionalism and courtesy towards your clients.
Online video presentations for your clients- explaining an Appraisal Inspection.
We look forward to working with you!
Sincerely,
Jeremy Bennett, Certified Residential Appraiser
Bennett Appraisals
1 Woodrush Court
Bellingham, WA 98229
Phone: (360) 746-0224
Fax: (360) 838-0634
Email: bennettappraisals@comcast.net
Website: http://www.bennett4appraisals.com/
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Technorati Profile
Tuesday, March 20, 2007
Make The Switch To Bennett Appraisals-- Now serving Snohomish County in adiition to Whatcom & Skagit Counties.
Bennett Appraisals is a local residential full service appraisals firm that serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Everett, Ferndale, Fairhaven, Geneva, Glacier, Kendall, La Connor, Lake Stevens, Lynden, Maple Falls, Marysville, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Semiahmoo, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom, Skagit and Snohomish Counties. Time permitting we also service some areas of Island County.
We Offer:
We Offer:
- Fast turn around times
- Competitive fees
- online ordering
- excellent communication and updates on all orders
- The latest technology and software in the appraisal industry
- Friendly customer service
- Local experience and insight of the areas and current market conditions.
- Locally owned and operated business memebers of the Bellingham/Whatcom Chamber of Commerce and the Appraisal Institute.
- Visa and Mastercard payment through Pay Pal.
- Literature and oline videos available for your clients @ http://www.bennett4appraisals.com/InspectionVideo
- Extensive website with up to the minute appraisal info @ http://www.bennett4appraisals.com
- When we are out of our office all calls are forwarded to our cell phones so contact is only a phone call away.
- Certified Residential Appraiser (Jeremy Bennett), Licensed Assistant (Chantale Merrick) and administrative staff are there for any questions you may have.
Call Bennett Appraisals today @ 360-746-0224
Or register online @ http://www.bennett4appraisals.com/ClientLogin
Thursday, March 08, 2007
Home Seller Appraisal Services
HOME SELLER SERVICES
If you are planning to sell your home, it might be a wise decision to make a small investment in a professional appraisal. Unless you study real estate values on a day to day basis, like a professional appraiser does, it's difficult for you to get a handle on real estate values. We aren’t talking about how much you have invested in your home, how much you paid for it, or how much you want for it. We’re talking about the true market value of your home, which could really pay off for you in the long run!
SELLING YOUR HOME FSBO
More and more homeowners today are choosing to sell their homes FSBO (For Sale By Owner) and foregoing the help of a real estate agent. Selling your home by this method can end up saving you a potential “hefty” commission (industry average is 5-7% of the home’s selling price). Plus many FSBO sellers feel that they have more control in the process of selling their home since they’re in essence making all the rules. But selling your home on your own will require a significant amount of "homework" if you're going to do it right. One piece of advice that is consistently given by the experts in selling your home FSBO....Do NOT "Overprice" Your Home! It's very hard to be objective about your own home because of your emotional attachment to it. A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.
PRE-LISTING APPRAISAL
If you’re working with a real estate agent to list your property, more than likely they’ll provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the “Listing Price". This step is vital if you're going to maximize your profit and minimize the home’s time on the market.
But even if you're working with the most experienced real estate agent, it's probably in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement. And that’s where we come in. We can provide you with a pre-listing appraisal so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps". In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can:
Be a very valuable negotiating tool once you have a potential buyer
Impress buyer’s with written proof of your home’s condition inside and out
Make you aware of problems and eliminate last-minute repair hassles that might delay a closing
Decrease the chances of unknown problems that cause sales to fall through
Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own
Many people are surprised when they find out that the market value of their home is much more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.
CONSULTATION
Maybe you feel like you don't need an "appraisal" but you'd still like some help gathering local property and sales data. Our reports help you to make an informed buying decision. We understand the complexities of buying a home and know what you are going through and will do our best to make it easier for you by giving you a high quality, professional appraisal that you can depend on!
When you order an appraisal report from us, you can expect. . . .
Prompt response to your initial inquiry: We will give you personalized information for your particular appraisal need. Just tell us your situation and we will make suggestions. Quick turnaround time: Typically one week or less from the date the request is received. If you've chosen to receive a copy of your appraisal or consulting report via the Internet (EDI), you'll receive it within MINUTES of its completion.
Appraisal and consulting reports formats to suit YOUR needs: When it comes to appraisal and consulting, "One size does NOT fit all!" We offer a variety of report types and delivery methods. Express mail too slow? We can deliver your report attached to a standard email, or notify you of an Internet site to download your report, the MINUTE it's completed!
Quick response to follow-up questions: Our reports are clearly written, understandable, and meet or exceed the Uniform Standards of Professional Practice that governs the appraisal practice. If you have any questions regarding your appraisal, after you've read the report, we encourage you to email or call us!
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties. Now services are available in Snohomish County.
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If you are planning to sell your home, it might be a wise decision to make a small investment in a professional appraisal. Unless you study real estate values on a day to day basis, like a professional appraiser does, it's difficult for you to get a handle on real estate values. We aren’t talking about how much you have invested in your home, how much you paid for it, or how much you want for it. We’re talking about the true market value of your home, which could really pay off for you in the long run!
SELLING YOUR HOME FSBO
More and more homeowners today are choosing to sell their homes FSBO (For Sale By Owner) and foregoing the help of a real estate agent. Selling your home by this method can end up saving you a potential “hefty” commission (industry average is 5-7% of the home’s selling price). Plus many FSBO sellers feel that they have more control in the process of selling their home since they’re in essence making all the rules. But selling your home on your own will require a significant amount of "homework" if you're going to do it right. One piece of advice that is consistently given by the experts in selling your home FSBO....Do NOT "Overprice" Your Home! It's very hard to be objective about your own home because of your emotional attachment to it. A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.
PRE-LISTING APPRAISAL
If you’re working with a real estate agent to list your property, more than likely they’ll provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the “Listing Price". This step is vital if you're going to maximize your profit and minimize the home’s time on the market.
But even if you're working with the most experienced real estate agent, it's probably in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement. And that’s where we come in. We can provide you with a pre-listing appraisal so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps". In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can:
Be a very valuable negotiating tool once you have a potential buyer
Impress buyer’s with written proof of your home’s condition inside and out
Make you aware of problems and eliminate last-minute repair hassles that might delay a closing
Decrease the chances of unknown problems that cause sales to fall through
Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own
Many people are surprised when they find out that the market value of their home is much more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.
CONSULTATION
Maybe you feel like you don't need an "appraisal" but you'd still like some help gathering local property and sales data. Our reports help you to make an informed buying decision. We understand the complexities of buying a home and know what you are going through and will do our best to make it easier for you by giving you a high quality, professional appraisal that you can depend on!
When you order an appraisal report from us, you can expect. . . .
Prompt response to your initial inquiry: We will give you personalized information for your particular appraisal need. Just tell us your situation and we will make suggestions. Quick turnaround time: Typically one week or less from the date the request is received. If you've chosen to receive a copy of your appraisal or consulting report via the Internet (EDI), you'll receive it within MINUTES of its completion.
Appraisal and consulting reports formats to suit YOUR needs: When it comes to appraisal and consulting, "One size does NOT fit all!" We offer a variety of report types and delivery methods. Express mail too slow? We can deliver your report attached to a standard email, or notify you of an Internet site to download your report, the MINUTE it's completed!
Quick response to follow-up questions: Our reports are clearly written, understandable, and meet or exceed the Uniform Standards of Professional Practice that governs the appraisal practice. If you have any questions regarding your appraisal, after you've read the report, we encourage you to email or call us!
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties. Now services are available in Snohomish County.
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Wednesday, January 17, 2007
Understanding the Approach to Value
ValueThere are three ways to determine the value of anything, and each plays a part in property appraisal. The most widely-used and accepted in residential practice is the sales comparison approach. This approach bases its opinion of value on what similar properties in the vicinity have sold for recently, with appropriate adjustments for time, acreage, living area, amenities and so on. It is these adjustments where the expertise of the professional appraiser becomes necessary -- no computer can tell you how much or little to mark up for a fireplace without knowing the neighborhood or even talking to Realtors and recent buyers in the area about how important that amenity is in that particular location.
Another approach is the cost approach. How much would a property cost to replace, that is, rebuild, minus "accrued depreciation," that is, depreciation that has occurred since the property actually was built? The cost approach includes concepts like "economic life" and "effective age" that are mostly of use in determining the value of special use properties, special purpose properties or properties where subsequent structural improvements greatly impact value.
The third approach to value is called the income approach. Some properties generate income for their owners -- the most obvious examples being rental properties such as apartment buildings, non owner-occupied houses and duplexes and the like. The rental income an owner might reasonably expect from a property is part of its value. For a purely owner-occupied residential property, this may not be applicable, but it can be important if the property is to be rented out or used otherwise to generate income, such as a storage facility, cell tower rental and office building.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
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Another approach is the cost approach. How much would a property cost to replace, that is, rebuild, minus "accrued depreciation," that is, depreciation that has occurred since the property actually was built? The cost approach includes concepts like "economic life" and "effective age" that are mostly of use in determining the value of special use properties, special purpose properties or properties where subsequent structural improvements greatly impact value.
The third approach to value is called the income approach. Some properties generate income for their owners -- the most obvious examples being rental properties such as apartment buildings, non owner-occupied houses and duplexes and the like. The rental income an owner might reasonably expect from a property is part of its value. For a purely owner-occupied residential property, this may not be applicable, but it can be important if the property is to be rented out or used otherwise to generate income, such as a storage facility, cell tower rental and office building.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
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Thursday, December 21, 2006
What is an "Appraisal"?
View a sample appraisal
A home purchase is the largest, single investment most people will ever make. Whether it's a primary residence, a second vacation home or an investment, the purchase of real property is a complex financial transaction that requires multiple parties to pull it all off.Most of the people involved are very familiar. The Realtor is the most common face of the transaction. The mortgage company provides the financial capital necessary to fund the transaction. The title company ensures that all aspects of the transaction are completed and that a clear title passes from the seller to the buyer.So who makes sure the value of the property is in line with the amount being paid? There are too many people exposed in the real estate process to let such a transaction proceed without ensuring that the value of the property is commensurate with the amount being paid.This is where the appraisal comes in. An appraisal is an unbiased estimate of what a buyer might expect to pay - or a seller receive - for a parcel of real estate, where both buyer and seller are informed parties. To be an informed party, most people turn to a licensed, certified, professional appraiser to provide them with the most accurate estimate of the true value of their property.The InspectionSo what goes into a real estate appraisal? It all starts with the inspection. An appraiser's duty is to inspect the property being appraised to ascertain the true status of that property. He or she must actually see features, such as the number of bedrooms, bathrooms, the location, and so on, to ensure that they really exist and are in the condition a reasonable buyer would expect them to be. The inspection often includes a sketch of the property, ensuring the proper square footage and conveying the layout of the property. Most importantly, the appraiser looks for any obvious features - or defects - that would affect the value of the house.Once the site has been inspected, an appraiser uses two or three approaches to determining the value of real property: a cost approach, a sales comparison and, in the case of a rental property, an income approach.Cost ApproachThe cost approach is the easiest to understand. The appraiser uses information on local building costs, labor rates and other factors to determine how much it would cost to construct a property similar to the one being appraised. This value often sets the upper limit on what a property would sell for. Why would you pay more for an existing property if you could spend less and build a brand new home instead? While there may be mitigating factors, such as location and amenities, these are usually not reflected in the cost approach.Sales ComparisonInstead, appraisers rely on the sales comparison approach to value these types of items. Appraisers get to know the neighborhoods in which they work. They understand the value of certain features to the residents of that area. They know the traffic patterns, the school zones, the busy throughways; and they use this information to determine which attributes of a property will make a difference in the value. Then, the appraiser researches recent sales in the vicinity and finds properties which are ''comparable'' to the subject being appraised. The sales prices of these properties are used as a basis to begin the sales comparison approach.Using knowledge of the value of certain items such as square footage, extra bathrooms, hardwood floors, fireplaces or view lots (just to name a few), the appraiser adjusts the comparable properties to more accurately portray the subject property. For example, if the comparable property has a fireplace and the subject does not, the appraiser may deduct the value of a fireplace from the sales price of the comparable home. If the subject property has an extra half-bathroom and the comparable does not, the appraiser might add a certain amount to the comparable property.In the case of income producing properties - rental houses for example - the appraiser may use a third approach to valuing the property. In this case, the amount of income the property produces is used to arrive at the current value of those revenues over the foreseeable future.ReconciliationCombining information from all approaches, the appraiser is then ready to stipulate an estimated market value for the subject property. It is important to note that while this amount is probably the best indication of what a property is worth, it may not be the final sales price. There are always mitigating factors such as seller motivation, urgency or ''bidding wars'' that may adjust the final price up or down. But the appraised value is often used as a guideline for lenders who don't want to loan a buyer more money than the property is actually worth. The bottom line is: an appraiser will help you get the most accurate property value, so you can make the most informed real estate decisions.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
A home purchase is the largest, single investment most people will ever make. Whether it's a primary residence, a second vacation home or an investment, the purchase of real property is a complex financial transaction that requires multiple parties to pull it all off.Most of the people involved are very familiar. The Realtor is the most common face of the transaction. The mortgage company provides the financial capital necessary to fund the transaction. The title company ensures that all aspects of the transaction are completed and that a clear title passes from the seller to the buyer.So who makes sure the value of the property is in line with the amount being paid? There are too many people exposed in the real estate process to let such a transaction proceed without ensuring that the value of the property is commensurate with the amount being paid.This is where the appraisal comes in. An appraisal is an unbiased estimate of what a buyer might expect to pay - or a seller receive - for a parcel of real estate, where both buyer and seller are informed parties. To be an informed party, most people turn to a licensed, certified, professional appraiser to provide them with the most accurate estimate of the true value of their property.The InspectionSo what goes into a real estate appraisal? It all starts with the inspection. An appraiser's duty is to inspect the property being appraised to ascertain the true status of that property. He or she must actually see features, such as the number of bedrooms, bathrooms, the location, and so on, to ensure that they really exist and are in the condition a reasonable buyer would expect them to be. The inspection often includes a sketch of the property, ensuring the proper square footage and conveying the layout of the property. Most importantly, the appraiser looks for any obvious features - or defects - that would affect the value of the house.Once the site has been inspected, an appraiser uses two or three approaches to determining the value of real property: a cost approach, a sales comparison and, in the case of a rental property, an income approach.Cost ApproachThe cost approach is the easiest to understand. The appraiser uses information on local building costs, labor rates and other factors to determine how much it would cost to construct a property similar to the one being appraised. This value often sets the upper limit on what a property would sell for. Why would you pay more for an existing property if you could spend less and build a brand new home instead? While there may be mitigating factors, such as location and amenities, these are usually not reflected in the cost approach.Sales ComparisonInstead, appraisers rely on the sales comparison approach to value these types of items. Appraisers get to know the neighborhoods in which they work. They understand the value of certain features to the residents of that area. They know the traffic patterns, the school zones, the busy throughways; and they use this information to determine which attributes of a property will make a difference in the value. Then, the appraiser researches recent sales in the vicinity and finds properties which are ''comparable'' to the subject being appraised. The sales prices of these properties are used as a basis to begin the sales comparison approach.Using knowledge of the value of certain items such as square footage, extra bathrooms, hardwood floors, fireplaces or view lots (just to name a few), the appraiser adjusts the comparable properties to more accurately portray the subject property. For example, if the comparable property has a fireplace and the subject does not, the appraiser may deduct the value of a fireplace from the sales price of the comparable home. If the subject property has an extra half-bathroom and the comparable does not, the appraiser might add a certain amount to the comparable property.In the case of income producing properties - rental houses for example - the appraiser may use a third approach to valuing the property. In this case, the amount of income the property produces is used to arrive at the current value of those revenues over the foreseeable future.ReconciliationCombining information from all approaches, the appraiser is then ready to stipulate an estimated market value for the subject property. It is important to note that while this amount is probably the best indication of what a property is worth, it may not be the final sales price. There are always mitigating factors such as seller motivation, urgency or ''bidding wars'' that may adjust the final price up or down. But the appraised value is often used as a guideline for lenders who don't want to loan a buyer more money than the property is actually worth. The bottom line is: an appraiser will help you get the most accurate property value, so you can make the most informed real estate decisions.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
Monday, December 11, 2006
The Truth About Using Automated Valuation Models
Lenders and brokers using Automated Valuation Models (AVMs) and homeowners using "free online home values" to determine the value of a property need to know what those results aren't telling them.
1. Whether the house is really there. A computer can't so much as drive by a house to see if it's actually located where it's supposed to be, has four walls and a roof, and really is a four bedroom split level and not a one bedroom shack.
2. Whether unique features of a property might add to or detract from market value. So a computer returns an estimated value of $150,000. Did it account for the sewage treatment station next door? The railroad tracks nearby with trains that blow their whistles every night? The school district? The desirability of its tree-lined street versus the next street over?
3. How long ago the property was assessed. Many AVMs and free online services rely on public assessment records. In many states, for example, assessments may only be required every three years — the value may be nearly three years old in that case. Some states mandate that an assessed value not increase beyond a certain percentage, even if sales activity indicates the property has appreciated far more. When you use an AVM or free online service, you risk a lower value than reality.
4. What makes the comparables comparable. A computer might compare your subject property to another property with similar square footage sold three months ago a quarter of a mile away. Even if that "comparable" property is in a different, less desirable school district, fronts a four-lane, 55 M.P.H. street, and is flood-prone. Or even if the property was sold under duress, such as in a divorce situation, or not at arm's length, such as to a family member. A computer simply does not know all the adjustments that might need to be made to a "comparable" property's sales price.
5. Whether a market is declining. Automated valuations use data from recent, nearby sales. If those sales were completed at the peak of a local housing market, the computer will think the trend is going up. Even if a professional appraiser knows that the overall neighborhood is beginning to experience a downturn. As a lender, don't get stuck with a property that's been overvalued by a computer.
6. Whether there is a conflict of interest. Free online home values are often farmed out to real estate agents in your area, who use the service to get your listing when you decide to sell. The best way to do that is to impress you with their confidence that they can get a higher price for your property. If they tell you your property is "worth" the high end of what they believe they can sell it for, the theory goes, you're more likely to sign a listing agreement. With most things, it's best to "under promise and over deliver" — but the opposite is true when you use a free online home value service.
7. What qualifications, designations, experience and education the preparer of the value has. When you work with an appraiser, you can be confident we're highly qualified, ethical and prepared to complete your assignment professionally and with good judgment. Most of the time, you don't know the qualifications of whoever is behind those free online values, and they couldn't compare to an appraiser's if you did. And if you're relying on an automated valuation, you're cheating yourself out of an appraiser's education, experience and expertise.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties.
1. Whether the house is really there. A computer can't so much as drive by a house to see if it's actually located where it's supposed to be, has four walls and a roof, and really is a four bedroom split level and not a one bedroom shack.
2. Whether unique features of a property might add to or detract from market value. So a computer returns an estimated value of $150,000. Did it account for the sewage treatment station next door? The railroad tracks nearby with trains that blow their whistles every night? The school district? The desirability of its tree-lined street versus the next street over?
3. How long ago the property was assessed. Many AVMs and free online services rely on public assessment records. In many states, for example, assessments may only be required every three years — the value may be nearly three years old in that case. Some states mandate that an assessed value not increase beyond a certain percentage, even if sales activity indicates the property has appreciated far more. When you use an AVM or free online service, you risk a lower value than reality.
4. What makes the comparables comparable. A computer might compare your subject property to another property with similar square footage sold three months ago a quarter of a mile away. Even if that "comparable" property is in a different, less desirable school district, fronts a four-lane, 55 M.P.H. street, and is flood-prone. Or even if the property was sold under duress, such as in a divorce situation, or not at arm's length, such as to a family member. A computer simply does not know all the adjustments that might need to be made to a "comparable" property's sales price.
5. Whether a market is declining. Automated valuations use data from recent, nearby sales. If those sales were completed at the peak of a local housing market, the computer will think the trend is going up. Even if a professional appraiser knows that the overall neighborhood is beginning to experience a downturn. As a lender, don't get stuck with a property that's been overvalued by a computer.
6. Whether there is a conflict of interest. Free online home values are often farmed out to real estate agents in your area, who use the service to get your listing when you decide to sell. The best way to do that is to impress you with their confidence that they can get a higher price for your property. If they tell you your property is "worth" the high end of what they believe they can sell it for, the theory goes, you're more likely to sign a listing agreement. With most things, it's best to "under promise and over deliver" — but the opposite is true when you use a free online home value service.
7. What qualifications, designations, experience and education the preparer of the value has. When you work with an appraiser, you can be confident we're highly qualified, ethical and prepared to complete your assignment professionally and with good judgment. Most of the time, you don't know the qualifications of whoever is behind those free online values, and they couldn't compare to an appraiser's if you did. And if you're relying on an automated valuation, you're cheating yourself out of an appraiser's education, experience and expertise.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties.
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