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How will CU affect the real Estate Industry? How will CU affect the real Estate Industry? How will CU affect the real Estate Industry? How will CU affect the real Estate Industry? How will CU affect the real Estate Industry? How will CU affect the real Estate Industry? How will CU affect the real Estate Industry?

How will CU affect the real Estate Industry?

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How will CU affect the real Estate Industry?

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How will CU affect the real Estate Industry?

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How will CU affect the real Estate Industry?

December 29, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

First, what is “CU”? CU is the acronym for Fannie Mae’s new in-house tool for examining credit risk called ‘Collateral Underwriter’. Fannie Mae is rolling it out to Lenders and, indirectly, to their AMC partners in January 2015. Their objective is to distribute CU to support more proactive management of appraisal quality by empowering lenders to address potential appraisal issues prior to loan delivery.

Starting January 26, 2015, all lenders and lender agents will have full access to the program which includes the CU risk score along with the risk flags (more…)

Data Flaw In Regional County Assessments

December 2, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

If you live in, or own a Split Level, or Split Entry/Bi-level style dwelling within Allegheny, Beaver, Butler, Fayette, Somerset, Washington or Westmoreland Counties, be forewarned.  Your property may be assessed at a higher value than the property should be due to a lack of uniformity. The lack of uniformity is what created the court ordered re-assessment process in Allegheny County and (more…)

How to Prepare For a Real Estate Appraisal

November 6, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

If you are like most and haven’t had an appraisal done on your home recently, one of the first things that may come to your mind is, “What do I need to do to get ready for the appraiser?”  Here are some things you may want to consider prior to the appraiser coming to your home. (more…)

Cheap Appraisers – Should I Risk It?

November 5, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

Well, the short answer is no. However, we will go into the subject in more detail and explain with the long answer.

If you haven’t worked with an appraiser before or it’s been a long time much has changed. You may not realize that all appraisers are NOT the same and can be as different as night and day depending on their experience, education, and familiarity with your market area. This was exasperated in the early 90’s with the advent of Appraisal Certification. (more…)

Why hire a technically advanced appraiser?

November 5, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

We all know them. The guys with pounds of silicon hanging from their belts. Every new gadget that has hit the market in the past 10 years has done time around their waist. Call them geeks. Call them nerds. Call them what you will, but by all means, give them your appraisal business. Why? I’m glad you asked. (more…)

How To Build Home Equity FAST!

October 21, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

One of the best ways to increase the market value of a home is to make structural improvements or add features such as a deck or an extra room. I do want to emphasize if your plan is to enlarge your home, there are some things you may want to consider in your planning. Make sure to read the (more…)

Zillow vs Certified Appraisal

September 12, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

Zillow vs Certified Appraisal. Let us first start out by explaining what is Zillow? Zillow is what is known as an AVM an Automated Valuation Module. Locally in Pittsburgh, Allegheny County and next, the surrounding Counties, we are all too well familiar with an AVM although we don’t know it. This is the same type of computer program that has and is creating each and every properties’ assessed value and we all know how that is turning out. (more…)

Do I need a Pennsylvania Certified Appraiser?

August 10, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

There are four kinds of appraisers in Pennsylvania

Pennsylvania Certified General — These appraisers have met their education and experience prerequisites and passed the general certification exam. They can now appraise virtually all types of property: residential, commercial, both federally related and non-federally related. Pennsylvania Certified General Appraisers work primarily on commercial appraisals which include rental units of 5 or more in a building.

Pennsylvania Certified Residential — These appraisers have also met their education and experience requirements, passed their exam and can appraise all categories of residential property, federally and non-federally related. Pennsylvania Certified Residential Appraisers work primarily on residential appraisals which include single family homes and rental units of 4 or less in a building. (more…)

PUD, Condo, Town, Row, HOA The difference is?

August 5, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

Well, we will start with the easy part. What is the difference between a Row House and a Town House? In a word, nothing. A town house or town home and a row house or row home are the same. The names are only STYLES or DESIGNS of a type of residential dwelling. Both town and row are (more…)

Common Pittsburgh FHA Appraisal Repairs

July 15, 2014 by Bostedo Appraisal Services - the Pittsburgh Appraisers

Some of the most common Pittsburgh FHA appraisal repairs many homeowners are not aware of nor that these common Pittsburgh FHA appraisal repair items will be needed to be addressed with an FHA appraisal for an FHA loan.

The FHA has three main concerns, for FHA  appraisers, they are called the three S’s. The three S’s are Safety, Soundness and Security. A property must meet these three main criteria to qualify for a FHA loan. The most common repair items (more…)

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