No I am not talking about walking around with blinders on while appraising. I am talking about appraising with NO numbers given to the appraiser ahead of time, no estimates of value, no loan amount, NOTHING!

Forever, Appraisers have been given numbers to HIT so to speak, when they were given the appraisal assignment by the Banks, Brokers, Realtors, Sellers, Buyers. Now due to HVCC this is not allowed!

So what does that mean for the Appraiser? Well it means that they are left to their own devices and abilities to chose the right comparable properties and how to accurately analyze the market and make the appropriate adjustments to the "comps" to reflect their variances when compared against the Subject property ( The one they are appraising).

Unfortunately, so many appraisers were used to just appraising TO the given number or BACKING into that number rather than truly evaluating the market and moving forward to the real estimate of value for the subject property. So if the appraiser is not experienced in what I define as BLIND appraising, they may fumble around trying to come up with the true and accurate market value for that property.

The appraiser must know the area in which they appraise. They must know LAND values intimately and they must know what the market is paying currently for all sorts of items that we review, ie: upgrades to the home, bed and bath count, finished vs. unfinished basements, other amenities such as pools, fences, etc. For too long there were numbers appraisers always used to make adjustments for these items,  but chances are unless they have analyzed the current market and their reaction to these amenities, these old adjustments are just that....OLD and outdated.

So if you find an appraiser who can truly BLIND appraise, you have found a GOOD one! They do not NEED that number ahead of time!

I love BLIND appraising! I don't want to know what someone thinks their home is worth, that is MY job to provide them with this information and to provide the BANKS with this vital information to protect their RISKS. It is my job not to MISS anything during my inspection process and to talk to Realtors, Buyers, Sellers, Builders, etc. about what is going on in the market today.

Stay tuned....I plan to advise everyone on what to look for in an appraisal that will tell you right off the bat if it is FLAWED and therefore will allow you to request another appraisal or a review of the current one! It could save a deal of yours!

Mary Thompson

Certified/FHA Approved

www.marytappraisals.com