Home Appraisal in Mira Mesa

What makes my appraisals different?

First, it is important to understand what the goal is for mortgage appraisals:

1. Lender: Place a loan and sell it on the secondary mortgage market
2. Borrower: Obtain a loan that enables a purchase or refinance with desirable lending terms (e.g. internet rate, down-payment requirements, length)
3. Mortgage Investor: Lend money with an acceptable level of risk

To achieve these goals, the mortgage appraisals need to meet underwriting standards designed to make the loans desirable to investors. These standards are provided to the appraiser when the appraisal is ordered. While market value matters, meeting the underwriting standards matters much more. Accuracy isn't nearly as important either because there is only a specific threshold value that needs to be passed for the loan to be approved. The result is appraisals that are not well analyzed and that result in appraised values that may protect investors and enable the loan, but which may not be market value. Many, if not most, appraisers tend to adhere to common mortgage lending underwriting standards, even when not appraising for mortgages.

In contrast, my singular goal is to provide a thorough, consistent, and defensible appraisal report and reliable appraised value.