FHA Appraiser Program Charlotte, North Carolina

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FHA/HUD News:

As you know, in response to the housing crisis, FHA has expanded its mission to help more Americans facing foreclosure refinance into safer, more affordable mortgages. In late August 2007, President Bush introduced a new product called FHASecure for homeowners who were unable to make their mortgage payments after their interest rate reset. Since then, more than 260,000 families have refinanced with FHA. Hundreds of thousands more will refinance with FHA by the end of the year.

Starting on July 14th, FHASecure will begin to provide additional assistance to subprime borrowers with adjustable rate mortgages, and help to restore liquidity and stability to the markets. It will assist families who have missed up to three monthly mortgage payments over the previous 12 months or have experienced temporary economic hardship, such as loss of overtime or medical needs, as well as those who were affected by payment shock. The expansion will also encourage lenders to voluntarily write down outstanding subprime mortgage principal.

We estimate this plan will help an additional 100,000 families refinance into more affordable FHA-insured loans by the end of the year.

The combination of all efforts under FHASecure will help a total of 500,000 families by year's end. Our monthly refinancings this fiscal year are already more than five times the level of 2006. It is clear people are coming to us as their solution for the future.

As part of this expansion, we are instituting a fairer, more flexible premium pricing structure at FHA. Like any other insurance company, FHA will begin pricing the insurance premiums for these borrowers according to their credit risk. This will eliminate a pricing inequity that treats applicants with a low risk of default the same as those with a high risk of default.

Risk-based pricing will benefit many borrowers, especially lower-income American families. In FHA's portfolio, families with the lower incomes actually have higher FICO scores. These are hard-working American families who live within their means and pay their bills on time. Pricing mechanisms should reflect that fact.

The bill currently moving through the Senate would place a moratorium on risk-based pricing. That would be a big mistake. FHA will have to increase premiums across the board on all borrowers or, alternatively, seek taxpayer funds in October to cover potential losses, or cut back on the program at the very time we are an island of hope for hundreds of thousands of Americans.

In addition to a possible moratorium on risk-based pricing, Congress may require FHA to accept mortgage insurance loans with seller-funded down payment assistance. The option for FHA not to insure such mortgages would be removed. This would not only be costly for FHA but could be expensive for taxpayers, too. Even if FHA raised premiums to a max of 2.25 percent upfront for all borrowers across the board, it would still need to seek an appropriation to cover the losses caused this practice.

We have issued a regulation to address seller-funded down payments. We are in a comment period right now, and I intend to look hard at those comments. Therefore, I do not want to discuss this matter in great detail. The comments are important to us and we will look at them carefully. But the reason for our efforts to regulate in this area is that FHA-backed mortgages with seller-funded down payments go into foreclosure at three times the rate of FHA's remaining portfolio. Because of a lack of equity, losses on these seller-funded down payment mortgages are significantly greater. We remain solvent and in good shape today. But no insurance company can continue to absorb losses of this magnitude.

At the end of the day, I hope reason will prevail. FHA is more important to the mortgage market now than it has been for many years. FHA's volume and market share continue to grow every month. I hope final legislation from Congress would put forward actions that can keep FHA solvent, self-financing, and responsibly able to help homeowners. Taxpayers should not have to absorb preventable, foreseeable losses.

We are looking for the Congress to pass responsible legislation that will help FHA continue to provide stability for the housing market and provide government-backed mortgages for low-and-moderate income families.

Thank you.

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Home, Property Appraiser Iredell County, North Carolina

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The value of real estate in Iredell County, North Carolina has risen dramatically in the past 20 years. Although as demand and supply fluctuates, not every property in Iredell will increase in value at the same rate. The real estate market in Iredell, NC has been appreciating on a linear scale. The major market forces are the population level, the strength of the national, and local economy, and the availability of financing.

Home appraisers in Iredell County, North Carolina examine the four forces that create value. For any real estate or commodity to have value, the four elements that create value must be present. These elements are demand, utility, scarcity, and transferability. The most common type of value that an property appraiser in Iredell County, NC uses is market value. Home appraisers describe market value as "the most probale price which a property should bring in an open and competitive market. The buyer and seller must be motivated, and the sale must have been exposed to the market for a resonable amount of time. Furthermore, the sales must be an "arm's lenght transaction". Other values can also be used, such as, investment value, going concern value, liquadation value, etc.

Property appraisers in Iredell, North Carolina use basic value principles in their appraisal process. The principle of anticipation says that a property's value may be affected by an expectaion of a future event. Such as a residential property turning into a commercail use, or a new highway being built next to a residential subdivision. Appraisals in Iredell must research and anlyaze future uses of other properties.

Real estate appraisers offering appraisals in Iredell, North Carolina must consider the theory or balance. Real estate in Iredell is unique, immovable product. Land will tend to be at its highest value when the four factors of production are in balance, which are land, labor, capital and management. With the appropriate proportion of residential, commerical, and industrail land uses, all properties in Iredell benifit by the ability of the area to attract and keep both residences and business. This might be noted in the appraisal report.

All properties in Iredell are influenced by the economic theory of change. No pysical or econonmic condition remains constant. Natural changes, wear and tear, economic changes, all affect the market value of properties that are located in Iredell County, North Carolina.

Property Appraisers Union County, North Carolina

For a local, professional appraiser in Union County, Waxhaw, Indian Trail, Weddington, Monroe, Matthews, North Carolina, visit www.charlotte-appraiser.net or www.valuation-expert.com

Valuation Experts is your local home appraiser. Oftentimes rural areas that suddenly experience population growth spurts will see extraordinary increases in UNION, North Carolina house values. On the other hand, areas that seem to stagnate when it comes to growth don't see home values rise all that much unless the area is a highly-desirable area, such as Weddington, Waxhaw, Marvin, Indian Trail, North Carolina. And even further down the spectrum you see areas that are splendid where NC house values are strong. The best way to find out the accurate truth is to order an real estate home appraisal from Valuation Experts.







How can you determine UNION, North Carolina Property Values? By hiring a local property appraiser who has extensice experiance appraising UNION, North Carolina Properties. Because of this, the appraiser's job holds great importance to anyone who seeks to buy or sell a home in Union County, as they are the ones who through extensive research determine UNION, North Carolina property value.







Home value is very important in UNION, North Carolina as homes values could be deprecaiting. There is nothing more encouraging than knowing the actual property value of your UNION, North Carolina home. Get your Home Value form a home appraiser who knows UNION County, NC well. Home value is determined by critically examining all of the available data related to a particular home. Many UNION, North Carolina Realtors now have the ability to post all of the listings in the Carolina MLS on their own public websites. Most Multiple Listing Services also upload their inventory to national sites. These numbers can be misleading in a declining market.







A property coupled with an home appraisal equates to UNION County, North Carolina home value. This is accomplished by taking recently sold sales, and active and pending listings of the UNION, County NC home and comparing it to an median set of standards, which are dictated by the NC home values in the area. In its simplest form the home is compared to one House and to another house and from there an estimated home value is determined. Although this is a brief summary at best, it does help to illustrate the principles of home evaluation. Get appraisers in UNION, NC www.valuation-expert.com or www.charlotte-appraiser.net.

Home Appraisers Charlotte, Indian Trail, Weddington, Waxhaw, NC

http://www.valuation-expert.com/Charlotte.html
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www.charlotte-appraiser.net

Home appraisers in CHARLOTTE, North Carolina examine the site of of the property that is being appraised. The purpose of the site analysis of properties that are located in CHARLOTTE is to identify the various site characteristics that affect the marketability of homes prices in CHARLOTTE.

Some of the site analysis that property appraisers in CHARLOTTE identify are:
- appraisers determine the desirability and the utility of sites in CHARLOTTE, NC.
- in real estate appraisal reports, one should find any external or functional problems with a site
that is located in CHARLOTTE, NC
- appraisers also examine supply and demand for sites in CHARLOTTE, NC
- home appraisers in CHARLOTTE, NC should appraise the current situation and have knowledge of the various trends that could affect the valuation of sites in CHARLOTTE, North Carolina.

The principal of change is fundamental to appraising homes in CHARLOTTE, North Carolina, and to properly analyze a site. Value is created and modified in CHARLOTTE, North Carolina by economic, social, and governmental changes that occur outside sites that are located in CHARLOTTE, NC. Property appraisers should evaluate the direction of these trends and determine their effect, if any, on the market values in CHARLOTTE, North Carolina.

Property appraisers in CHARLOTTE, NC observe and report on economic trends. The home appraiser must give consideration to, and include in the value analysis, the economic trends of CHARLOTTE, North Carolina, including:
- price and wage levels, the purchasing power of CHARLOTTE home buyer's
- employment characteristics of CHARLOTTE, North Carolina
- home appraisers must examine the current supply and demand for residential dwellings
- Charlotte tax levels, population changes

The CHARLOTTE home appraiser will consider three approaches to value. The most common approach used to value residential properties in CHARLOTTE, North Carolina is the sales comparison approach. Property appraisers in CHARLOTTE, NC use the sales comparison approach to value as an analysis of comparable sales, contract offerings, and current and expired listings of properties located in CHARLOTTE, NC. Real estate appraisers in CHARLOTTE, North Carolina, analysis of the properties that are most similar to the subject property, and takes into account all factors that have an effect on value, and recognizing that a well-informed or well-advised purchaser will pay no more for a property than the price they would pay for a similar property in CHARLOTTE, NC of equal desirability and without undue delay.