(6)  WHAT TO DO IF YOU HAVE AN ISSUE WITH THE REPORT.  An appraiser may only discuss the results of the report with the appraiser’s client (the lender) or parties designated by the client.  If you want any changes contact the appraiser’s client in writing.  (7)  WHAT TO DO IF YOU HAVE AN ISSUE WITH THE APPRAISER.  Appraisers are required to be competent in the geographic area where they are working.  If you suspect the appraiser is not competent contact the lender who ordered the appraisal to share your concerns.  You can also contact the TALCB, the TX Board that governs appraisers.  Again remember REALTORS DO CMAs (Comparative Market Analysis) OR BPO (Broker’s Price Opinion) which is often similar to the appraisal in their results.  They usually go from different angles to come up with SIMILAR RESULTS.

(4)  Appraisers follow the Uniform Standards of Professional Appraisal Practice (USPAP).  These standards are incorporated into Texas law and Texas Appraiser Licensing and Certification Board rules.  They also must follow any additional requirement from the mortgage lender.  (5)  Fannie Mae & Freddie Mac require an appraiser to analyze the sales contract and confirm analysis in the appraisal report.  He reviews the terms of the contract, seller contributions, personal property items with sale.  He/she compare the terms of the contract with what’s typical in the market and verify that the seller is the owner of public record.  Remember Realtors do Comparative Market Analysis (CMA) or Broker’s Price Opinion and NOT appraisals and must reveal that.  MORE TO COME

(1)  WHO PAYS THE APPRAISER?  Usually paid by buyer, but the lender orders it thru the appraiser directly OR thru an AMC (Appraisal Management Company) who orders them on behalf of the lender.  (2)  WHO CAN TALK TO THE APPRAISER?  Anyone who has an interest in the transaction can talk to the appraiser and provide information.  No agent  or other person of interest should intimidate or bribe the appraiser & the appraiser many not disclose any confidential information.  (3)  HOW YOU CAN HELP THE PROCESS?   Collect any relevant documents, such as surveys, deeds, covenants, HOA documents, inspection reports, list of upgrades & recent comparables.  You can meet the appraiser at the property & see if he or she has questions, then STAND BACK.  MORE COMING!

(4)  include financing, inspections and anything you want left on property with original WRITTEN offer and PRIORITIZE and ASK for MORE that you will probably get.  (5) Come with a realistic wish list, then from your lender figure what you can afford and go from there – think about  certain neighbors, house size, amenities.  Rarely the perfect house, so have to be willing to give and take.  (6) Keep other houses in mind, so if house #1 does not work out can go to house #2 or #3.  COMING UP FOR BOTH SELLERS & BUYERS.

(1) GET PRE-APPROVED FOR A LOAN through a reliable local (preferably) lender, as you can walk in the door if any questions or problems arise.  The lender will will tell you how much home you can buy, then you can decide on what your monthly payment you are comfortable with.  (2)  COMMUNICATE THROUGH YOUR AGENT.  This just keeps  the lines of communication consistent and everyone on the “same page”.  (3)  PUT THE DEAL INTO WRITING.  Put any component of the deal and any verbal language into writing, such as the seller will leave the living room OR you can ask for the living room rug to be left at closing.  MORE TO COME ……………….

The 30 year fixed rate mortgage averaged 4.21% this week, the lowest since November 2013,  that Freddie Mac reports in its weekly mortgage market survey.  This includes an average 0.6 point.   15 year fixed-rate mortgages averaged 3.32% again with an average 0.6 point from a low of 2.61%.  The five-year hybrid adjustable-rate mortgages (ARMS) averaged 3.05% with an average 0.5 point – a year ago at 2.61%.  STILL A GREAT TIME TO BUY A HOME!!

Job growth in Texas from March 2013 to March 2014 is 2.8% compared with l.6% in the U. S. according to the Real Estate Center at TX A&M.   The state’s non-government section annual growth rate of 3% compared to 2% for the nation’s private sector.  Texas’ seasonally adjusted unemployment rate fell to 5.5% with the nation’s rate 7.5%.  All Texas industries had more jobs last month than a year ago.  Mining & logging are 1st in job creation, then transportation, warehousing & utilities industry, leisure & hospitality and information.  All Texas metro areas had more jobs, except for two.  EXCITING TO BE IN TEXAS!!

(9)  POSITIVE OUTLOOK – deal with crises in constructive ways.  They look for the silver lining in each dark cloud they meet & stick together.   Strong families believe they can manage & survive any crisis that comes their way.   (10)  ACCEPTANCE OF INDIVIDUAL UNIQUENESS – they look beyond each other’s faults and see each other’s needs.  They accept, appreciate & support each other as a wonderful, one-of-a-kind person.  (11)  INVOLVEMENT WITH FRIENDS & COMMUNITY – willing to help others.  They will admit problems & willing to seek professional & other help.  (12)  FORGIVENESS – healthy families teach & practice forgiveness.  They learn from mistakes & forgive others & themselves.  (13)  FUN TIMES – strong families laugh together.  They have fun together as they genuinely enjoy each others company.  JUST BE A PART OF A STRONG FAMILY AND DO YOU PART!!

(5) GOOD COMMUNICATION SKILLS – members put forth the effort to hear how the other person says and feels.  They are comfortable voicing opinions of their own and open to change.  They don’t always agree, but open to resolve conflicts.  (6)  HEALTHY LIFESTYLE – good nutrition, adequate rest and plenty of exercise for optimal wellness.  Quiet time to help manage stress.  When all members function at their best, the result is a strong family.  (7)  SPIRITUAL STRENGTH – live by the golden rule, treating others in the family as they want to be treated.  Value praying, singing and meditating and share common values.  (8)  POSITIVE OUTLOOK – deal with crises in a constructive way.  They search for the silver lining and stick together. They believe they can handle anything that comes their way.  MORE TO COME!

(1)  COMMITMENT – work to promote each other’s happiness.  They share meaningful experiences by setting family goals and carrying them out.  (2)  EXPRESSED APPRECIATION – express appreciation thru words and actions.  They let one another know how important they are.  (3)  STRONG MARRIAGE – the health of the marriage influences a family’s well-being.  Clear communication,  mutual respect and self-disclosure are signs of a healthy marriage & family.  Crucial for blended families and single-parent families, but can be done.  (4)  TIME TOGETHER – strong families frequently work, play, eat and attend religious and social functions together.  They cut  down on outside involvements in order to have quality time together as a family.  MORE TO COME!