Appraising Arizona

Home appraisals can be difficult to read and interpret, unless you know about the codes appraisers use on their appraisal form. This article will help you decipher what the appraiser is telling your lender about your home. UAD Codes used by Appraisers UAD is an acronym that stands for Universal Data Set, and is sometimes found as “code” on residential home appraisals. Appraisers that are preparing residential appraisals that will be sold to Freddie Mac (Federal Home Loan Mortgage Corporation),…

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The Appraisal Foundation (TAF) was created after the Savings and Loan’s cratered in the 1980’s. The Reagan administration deregulated banks and S&L’s, which allowed S&L’s to offer commercial real estate loans. Before deregulation, S&L’s were primarily residential mortgage lenders, and they were very good at it, accumulating billions of dollars in residential loans. When Ronald Reagan deregulated S&L’s, it allowed them to invest in commercial real estate loans, a property type they were unfamiliar with. As a result of commercial…

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Before the 1980’s, anyone could be a real estate appraiser simply by saying that you were an appraiser. There were no licensing requirements. And oddly enough, even though there was little to no regulation, the profession as a whole flourished, and was self policing. It was self policing in that professional appraisal organizations trained new appraisers by offering certifications to new appraisers. The public at large may not know if an appraiser was qualified, but if the appraiser could show…

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Owning a home is part of the American dream, and it is often good for the buyer, and good for local, state, and national government. Home ownership can give people a reason to be more involved in the community, and to assist in shaping their identity. Home buying is the single largest financial investment most people make, and most buyer’s want to protect their investment. This desire to protect their investment with proper maintenance and care is good for the…

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The United States is the world’s largest economy. It can be and has been brought to its knees on many occasions throughout history by real estate loans. As the US rode thru these cycles of real estate boom and bust, it was gradually seen as good business practice to have an impartial third party estimate real estate value before a loan was approved. This 3rd party analysis, although adding expenses to the loan, was considered a prudent check for the…

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