Whether you’re buying or selling a home, appraisals are critical to the lending process and come with regulations most homeowners don’t know about.

The appraisal process significantly changed after the 2008 housing crisis and now requires a level of anonymity some might find surprising.

In today’s episode, I’m talking with Alex Massa all about how appraisals are ordered and executed, and we also do a quick pulse-check of the current market and what’s in store for the future.

Market shifts can create uncertainty, and it’s easy to get discouraged when the numbers you’re hoping for don’t align. Be sure to ask your lender if a 2-1 buydown is the best option for you as you look for a home within your ideal budget.

In this episode, you’ll also hear:

• How the market is slowly shifting back to FHA loans and less competing offers
• Why Texas is still a boom town for the housing market
• Benefits of a 2-1 buydown

Must-listen moments:

[00:06:13] No one that's interested in the outcome of the report can be involved in choosing the appraisal.

[00:14:32] The problem is that prices are still high..the good news is that they're stabilizing.

[00:18:30] What we do is we make the payment, the first year is lower—it's suppressed. Then the second year, it goes up a little bit. It's like you're stair stepping the payment…you're deferring interest…but for the consumer, it lets them ease into the payment.”

About Alex Massa:

Chief Executive Officer at Appraisal MC

https://www.appraisalmc.com/

To contact us visit www.loanwithjen.com

Equal Housing Opportunity Lender NMLS# 514497

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Resources mentioned in the episode:

https://www.loanwithjeneducation.com/

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https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g

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