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A listing price would be helpful - even if it's sold - I never understood agents who advertises without posting the listing PRICE?.??😤

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So if you're hungry you just defrost something

Is the property a vacation rental?

So tiger woods does real estate now

Many thanks, I've been looking for "bank of america owned foreclosures" for a while now, and I think this has helped. Have you ever come across - Qenten Forecloseify Discovery - (just google it ) ? Ive heard some unbelievable things about it and my partner got excellent success with it.

Beautiful.

That's not entirely true. During the run up to 2007-8 when specu-vestors were over-leveraging by lying to the banks about whether they were going to live in the homes they were purchasing or whether they would be renting them, my Coldwell Banker realtor actively pushed me to use an interest only loan so that I could 'afford' properties she wanted to show me; she worked hand in hand with a loan broker right next door to her office. If that was standard practice during those times, then realtors were actively contributing to over-inflating values, by acting as a catalyst in the purchasing process in increasing liquidity in the market. At no point in the process did she say, 'Okay, prices are out of control, and the places you would be able to traditionally afford are now overvalued; I think you should put in a lower offer so that you can comfortably afford a 20 or 30 year mortgage'.

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Who brings the check to closing. That is who pays for the Realtor commissions.

all buyers pay for their own agents .sellers just factor that into to the selling price.

You lost some weight

Another thing for you to chew on is that Good appraisers a not limited to the box Lenders, brokers, etc... try to put us in...Are your appraisers using the Cost Approach? Are they defining the Scope of the assignment prior to work? What are the Assignment Conditions? I can go on? To your Point....Many appraisers in your area do not have these skills! A better question is why! I can give my opinion!

Good appraisers as well as RE Brokers are vital to the Market and one should not try to inform about topics they are not the experts in....A lot of bad information is the result. For reference I hold my Appraisal Certification in NC and VA and RE Broker License in NC and VA.

3rd...the appraisal is Opinion!! He got that right...How an appraiser gets to that opinion is his argument or should be! 4th, the distanced traveled by the appraiser is irrelevent. His Geographical competency IS!! That is a big deal!! An important point is that Appraisers are Unbiased!!! We don't care about the value...unlike Brokers, Mortgage Bankers, buyers, and sellers!! We analyis the data and report our Opinion based on 1. A high degree of Education 2. Experience 3. Compentence and more!

1st, HVCC is gone...Dodd Frank is here....Neither make banks use AMC's...some banks just used them to reduce liability and make a profit by Stealing appraiser fees...RELS, Landsafe, etc... 2nd, the type of value is the 1st thing the appraiser and client define...Most are for lending and use Market Value for obvious reasons....Appraisers represent the Client not brokers, buyers, or sellers.

Wow! I guess having Brokers doing the Valuation doesn't represent a Conflict of Interest to this guy! He is making some good points but just doesn't have the details correct on most of them.

@iparidon geez, you really like to comment......clueless, really? Typical real estate stereotype, all about the money blah blah blah. The point remains, appraisals are the opinion of the person doing it. They are not fact! And many appraisals are not worth the paper they are done on. Consumers deserve more than the cheapest, least experienced appraiser doing their appraisal, which is what they get a lot of the time now.

@iparidon fail

@iparidon Yeah, that sure makes a lot of sense...... Rather, how about just using local appraisers who know the market and the area? Is that too much to ask. Give me a geographically competent appraiser who knows the local market and I will accept their results.

@jvolstad Oh really? Check out my video fro Jan. 26. 2009. Guess what that title is? I'll tell you, "No, it is not always a good time to buy."

@jvolstad That's not my point. My point is for the buyer's agent to do their job, which includes showing the house. And no, it's not always a good time to buy. Do you even watch these before commenting? Your replies would indicate otherwise.

Right on Tyler! Why would a buyer want to use an agent who doesn't have the time to show them property in Big Bear? Why would a buyer wan't an agent to represent them that cannot answer their questions about the community or the local market? Or Values? Those buyers would be better off using a local agent to save them their time and money and then simply give their friend (agent) the money they saved. That way everyone wins!

even locate my office that has been in the same location for 20 years, I think that the appraiser might not be the best source of value. When I am asked by an appraiser to give them the comps, it makes me wonder why they are getting paid.

Unfortunately in Big Bear we have some appraisers traveling 2-3 hours to do an appraisal in an area that they are geographically incompetent. There are some very knowledgeable local appraisers that are not getting these assignments due to the HVCC regulations requiring an AMC. Tyler Wood sold over 90 homes in this market area last year, and I believe his ability to evaluate market value exceeds even the best appraisers we have available. When I get a call from an appraiser that can't (cont)

@AppraiserMI The assumption is that a buyer who is paying more than appraisal value is not educated on the market or have some way being pushed or tricked into paying more. That does happen. I would also contend that many times the value is there, but the comps to justify it from an appraisal standpoint don't exist. Just because comps don't exist to justify it does not mean the value isn't there.

@AppraiserMI That's fine. But, appraisals are still opinion. It says right on the appraisal, "In my opinion, the value of this property is XXX." And this opinion is only as good/reliable as the knowledge, experience, and competence of the appraiser. I had a property sell recently for $200,000 with tow separate appraisals, one at $165k and another at $190k. That $25k, nearly 10% difference on the same property. Absurd! My point still remains.

@AppraiserMI cont..... property isn't worth what the buyer and seller agreed to.

@AppraiserMI True. "WTF is bank value?" - Unfortunately with video, it is what it is. I don't edit these. My point was not the term "bank value," but rather how banks/lenders/appraisers go about determining the value. They are restricted by the Guidelines - size restrictions, location or proximity restrictions, year built restrictions, etc. All of these things limit what comps they can pull and what value they can justify. And just because they cannot find comps does not mean a

@llahnod1 The point still remains, appraisals are opinion, and they are only as good as the knowledge and competence of the appraiser. Also, real estate agents are just as qualified, if not more, to determine market value. They generally have a better pulse on the market. Sorry, but I don't agree that appraisers are always the best source for market value.

You ask "valuation from what perspective? Yours?" Yes- mine. I'm certified in two states, I have hundreds, if not thousands of hours of training, I typically work seven-days-a week making a living through appraising, 3,000+ hours a year for a decade. I'm honest, smart, and hard-working. Appraisal is an opinion, but that doesn't mean that just anyone's opinion has authority. I agree that there are some bad appraisers out there, but agents are not qualified to perform valuation.

I guess we differ on what market value means. I think it means what a buyer is ready and willing to spend, not what an appraiser can find comps to support. Again, valuation from what perspective? Yours? There's a lot of ways to value a property. Sorry, but we get way too many appraisers in our area who have no clue about what they are appraiser. As in most fields, just because someone has a license to do something does not make them qualified. That's my point.

FNMA requires that appraisals are at "Market Value". The FNMA definition is in every 1004 form I've ever completed. I've never heard of "Bank Value" in all the years I've been apparising. In my experiance, many agents think they know valuation. Unless they are licenced appraisers as well, they do not. I know some very good real estate agents. I respect them, and I don't claim to have knowledge about their field, as they are the experts.

Jvolstad, what's that have to do with the topic of this video? Did you even watch it?

@ToddMillerLasVegas Thanks Todd, hope all is well in Las Vegas.

Great explanation Tyler!

@trampolini1 Yeah, sounds great in theory. Yet, very few buyers are willing to pay their agent that way. If they were, it would already be happening on a wider scale. People have been talking about that for the past 5 years, and various companies have tried it, yet the real estate industry still remains relatively the same. If consumers really wanted it that way, then it would happen. Blah, Blah Blah

@homerj7g very valid point. I've heard this for the past 2-3 years but it does not appear to have much traction in the industry. Consumers have not demanded it either. There are a lot of things in the real estate industry that do not make much sense unfortunately.

@tornadoalley1 That's for sure. They say it was the biggest storm since 1969, about 5-6 ft. total. Pretty much all gone now.

Can't recall in my 20 yrs in BB ever seeing fox farm road with all that snow!

There were almost 1 trillion dollars of sup-prime loans that adjusted and caused a 30% average correction in 2007-2009. From 2009-2012 there are 1.6 trillion dollars of alt-a and option-arms loans that will adjust and cause another 30% correction nationwide. If you want to pay less, wait till 2013. If you wait till 2016, prices will start to climb again. It always best to buy when prices are rising because if you lose your job, you can sell the property for more.

Good one

Thanks for the education. It all makes sense to me know.

That's a pretty simplistic stereotype

Hey jvolstad, thanks for the comment. There's more to using a buyer's agent than just MLS access. You cannot substitute having access to the MLS listings with years of experience that some agents have. Just being able to go online and look at properties is one piece of the buying puzzle. Sure, for those that have the time to research online, they will become more informed. But I can guarantee they will not have the knowledge of an experienced agent working the market everyday.

Dude my name is Tyler Wood also but i am an actor in hawaii lol. my grandfather is a real estate agent. but hey good info to know