Tag Archives: real estate appraisal

San Diego: County Program to help Homeowners Makeover Landscaping

Posted on May 7, 2016 | Leave a comment

drought

When newcomers to the San Diego County Water Authority’s WaterSmart landscaping program tackle the prospect of giving their yards a water-saving makeover, their first questions aren’t about what they should tear out and what they should plant instead. It turns out their first questions are much more basic. Primal, even.

Will drought tolerant landscaping add value to your home? Contact the appraisers at www.scappraisals.com

“Who can do this for me? Who can I hire? Can I really do this myself?” said Joni German, assistant water resources specialist for the San Diego County Water Authority. “I think people just don’t know where to start. They don’t know that there can be a well-defined planning process to evaluating their landscape, thinking about what they’ve got and what they want.”

While San Diego’s water-savings numbers rebounded in March after a backsliding February, the WaterSmart program is still all about getting residents started on the path to drought-friendly efficiency. And that path just got a whole lot easier to navigate.

In addition to the existing three-hour workshop and four-class series (both of which are free), the WaterSmart Landscaping Makeover menu now includes a new Video On Demand series. The 17 videos, most clocking in at 3 to 8 minutes, allow you to traverse the makeover thickets at your own speed and in your own time. They cover everything from drawing up a landscaping plan to picking plants, retooling your irrigation and dumping your turf for good.

Get this (garden) party started

You will find the video series on the water authority’s WaterSmart Landscape Makeover page (landscapemakeover.watersmartsd.org). There are two introductory videos, followed by a six-step program that starts with “Identify Your Landscape Target” (how much water do you want to save and what types of plants and irrigation systems will get you there) and ends with “Care for Your WaterSmart Landscape.” (Hint: There will be weeding.)

The videos are short, but they are packed with information, so binge-watching is not recommended. (Although if you can keep track of the “Game of Thrones” hierarchy, you can probably handle “Toss Your Turf” and “Irrigate Like a Pro” in one sitting. Clearly, you rule.)

If you want to dip your toes in the knowledge pool, start with the two introductory videos, “WaterSmart San Diego County” and “WaterSmart Course Overview.” The former guides you through the features of a water-saving design, and the latter briefs you on what to expect from the upcoming course. There are also reassuring reminders that you don’t have to re-do your whole yard to make a difference.

disclaimer: for information and entertainment purpose only

New Federal Rule Gives Home Buyers Better Access to Appraisals

Posted on February 6, 2014 | Leave a comment

WASHINGTON — A new federal rule could give millions of home buyers insights they’ve never had before about a crucial element of their mortgage application: the appraisal, including the electronic cross-checks and reviews now used by lenders to determine the amount of the loan they’ll approve.

The new rule will also give buyers the time and ammunition they need to challenge appraisals that they suspect contain errors. Starting this weekend, lenders nationwide will be required to inform mortgage applicants that they can receive a free copy of whatever appraisals, reviews, computer valuations and other data are used in the transaction. They will be entitled to see this material promptly after the appraisal report is completed, or three days before their loan closes, whichever is earlier. The lender will have to inform them of their new rights within three business days after receipt of their mortgage application.

This contrasts with the current system, in which lenders don’t have to provide you with a copy of the appraisal unless you request it. The additional valuation data — which may include follow-up review appraisals by a second appraiser, multiple “automated” valuations and “broker price opinions” provided at low cost by realty agents — currently are not subject to disclosure, even though they may have played a role in the final decision on your loan.

Now everything will be mandatory. You have to be given any significant information that was integral to the valuation of the property, even if you had no idea it existed and didn’t ask to see it.

The new rule implements changes to the Equal Credit Opportunity Act made by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. It will be overseen by the Consumer Financial Protection Bureau. Unlike earlier rules, the disclosure requirements will be limited to mortgages that are first liens on a home, including reverse mortgages and construction loans. If you’re applying for a second mortgage or second-lien home equity credit line, the bank will not have to provide you appraisal materials, although you are still free to ask.

So what might this mean to you in practical terms? Potentially plenty. Say your appraiser works for a management firm that uses low-cost, inexperienced appraisers. By chance it turns out that your appraiser lives 80 miles away and is not familiar with local real estate trends. Then the valuation comes in low because the appraiser used inappropriate “comparable” properties, including a house that sold at a depressed price because the owners were in financial distress.

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San Diego – Foreclosures Reach 7 Year Low

Posted on September 20, 2013 | Leave a comment

San Diego County foreclosures dipped to a seven-year low last month as rising housing prices eliminated much of the distress in the local market.

DataQuick reported 148 foreclosures in August, down from 516 in July, the lowest since August 2006. Year over year the total was down 70.8 percent from 507.

On the default side, DataQuick said 537 notices were filed in August, up from 516 in July but still far below 1,216 in August 2012.

Some neighborhoods in San Diego are still effective and this may effect your home’s value. Contact the appraisers at www.scappraisals.com for your home value questions.

Real estate broker Mark Marquez said the declines reflect rising prices.

“Appreciation in prices fixes everything,” he said.

DataQuick’s most recent price report said San Diego County’s overall median stood at $417,500, 22.1 percent higher than a year ago and the highest since February 2008.

Defaults typically are filed three months after an owner stops making mortgage payments and lenders move to foreclose an average nine months later. Thus the August defaults reflect distress going back to the spring and foreclosures apply to homeowners who fell on hard times in the second half of 2012.

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