The REO or Short Sale Appraisal

nana smith

I have 15-years’ experience as a residential appraiser for Fairfield County, Connecticut. I have extensive, and historically, excellent experience in Real Estate Owned (REO) appraisals for both lenders and various other.

My areas of expertise are mostly comprised in the Lower portion of Fairfield County, particularly; Stamford, Norwalk, Greenwich, New Canaan, Darien, Fairfield and Bridgeport.

Having based my company locally in Stamford, CT has afforded me the ability to stay on top of the current market in Lower Fairfield County as well as gaining comprehensive knowledge of the local REO market.

I have working knowledge of expenses acquired through residential single-family, in both owner-occupied and leased properties.

Along with being a certified appraiser, I am also a licensed real estate agent, which keeps me up to date on current market conditions.

Please feel free to contact us.

Call or email  Nana Smith

NanaGsmith@gmail.com

203-858-6727

C.R.E.A. – comment using this form to be in touch :

 

Reverse Mortgage

Are you 62 years old or older?

Complete Real Estate Answers, Inc.

Is reverse mortgages right for you?

See article bellow with a great information on reverse mortgage types and helpful phone numbers to call to get more information.

Reverse Mortgage

Below is another link with detailed breakdown on:

Reverse Mortgage Guides

And below is totally different opinion on reverse mortgage. A well written article from 2012 but still worth reading since it is applicable:

The Hidden Truths About Reverse Mortgages

And of course this always is a good idea to seek legal advice.

You  also may want to appraise your house first so you know where market stands for you.

Call or email  Nana Smith

NanaGsmith@gmail.com

203-858-6727

C.R.E.A. – comment using this form; what is your opinion on reverse mortgages, or simply share your experience:

 

Motivational Monday Quote – 07.07.2014

complete real estate answers, inc; appraisal and real estate

The Cost Approach

complete real estate answers, inc. crea

Beyond its use as independent method to determine property value, the cost approach presents a highly effective way to verify market and income-based valuations, project construction costs and adjust estimates to account for unique physical property features.

As an independent valuation method
An essential valuation method, the cost approach is crucial to various appraisal assignments, including when appraising new or proposed construction, when lack of market activity limits the effectiveness of the sales comparison (market) approach, when land value is well supported, when improvements represent the best use of land, and for special purpose or specialty properties not frequently exchanged.

Develop an opinion of market value
Based on the reasoning that a buyer will not pay more than what it would cost to reproduce or replace the subject property, the cost approach enables the appraiser to develop an opinion of market value based on the current costs of labor, materials, related fees, and any entrepreneurial profit or incentive. Marshall & Swift provides the cost data needed to determine this value.

Read Full Article Here

Appraising Summer Mornings

I love appraising early summer mornings. One goes on the field and one may see wonders.  This summer morning, in Greenwich, CT “back county” neighborhood has a special beauty in it. Roads are back roads that are quiet in the early mornings, it roams large, and is kept in a natural way… where one can spot a deer running through the fields.

This is what I saw yesterday while appraising in Greenwich, CT back county.

Complete Real Estate Answers, Inc. Greenwich, CT

complete real estate answers, inc, greenwich ct

 

Fellow appraisers comment on what do you like about being on the field using form bellow:

Contact C.R.E.A.

Email: info@CompleteREA.com

Phone: +1 203 858 6727

Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
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~ ~ C.R.E.A.

Hot Town, Summer in the City

Hot town, summer in the city
Back of my neck getting dirty and gritty
Been down, isn’t it a pity
Doesn’t seem to be a shadow in the city

All around, people looking half dead
Walking on the sidewalk, hotter than a match head

Fellow appraisers, share your thoughts how do you deal with hot summer, neck getting dirty and gritty, while appraising in the city, by using form bellow:

Contact C.R.E.A.

Email: info@CompleteREA.com

Phone: +1 203 858 6727

Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903

Nana G. Smith, Proprietor

Web & Blog: CompleteREA.com (you are here)
Facebook
Twitter
Google+

~ ~ C.R.E.A.

Investing in Real Estate

Complete Real Estate Answers InvestingShift your minds focus from spending to investing.

The wealthy and successful do not spend their money…

…they invest it.

They realize that North American tax laws favor investing over spending.

If you buy a house you cannot write it off for tax breaks.

The wealthy in contrast would invest in an apartment building that produces cash flow, appreciates in value and will offer write offs year, after year, after year.

Most of you will go out and buy cars for comfort and style…

…the wealthy will invest in cars and trucks for their company that are deductible because they are used to produce revenue

Along with investments that will make them money, investing a nice percentage of their money on education plays a huge role in why they are successful.

They are always investing their money on education which include online courses, information products and all types of of books on self success and self development.

Get reading and get educated, it will only benefit your life’s situation helping you grow

mentally.

{Read Full Article Here!}

Will this article help you to invest in real estate?

Share your thoughts by using form bellow, or  comment using this form:

~ ~ C.R.E.A.

 

Monday Inspirational Quote

Monday morning @ Complete Real Estate Answers, Inc with inspirational quote.

Good way to start a new week!

Complete Real Estate Answers, inc. Appraisal, renovations, short sales

Case Study #1

i-95 I am appraising a single family residence in sleepy New England town.

The subject is located on a dead end street, which runs into a marshy area where it ends, but also runs parallel to a major interstate highway, I-95, thus resulting in a very high noise level along with pollution levels.

All other homes on the street conform to subject, in terms of maintenance, appearance, age, and style. There are two comparables on the street that recently closed, less than 6-months ago (one of which is located across the street from subject) at a range of $340,000-$380,000, along with some active listings priced at $390,000.

Subject property happens to be in foreclosure; so this is an exterior only (aka, “drive by”) appraisal, in which inspection is done from street.

While inspecting the property from the outside, I am surprised to find a huge addition made to the back of the property, which makes the subject dwelling twice as large as other properties, but similar in all other parameters, such as location, appearance, age, and even bathroom count.

Given a 1-mile criteria, comparable property values range from $210,000 to as high as $X-million, given that some properties would be located on a much more desirable water front community. The majority of homes, above 2,500SQFT sell for over $700,000, in this particular town, but they are not located adjacent to the highway, as the subject property is, and they offer a much grander view as well.

What is the best way to approach this property? Can sales observed from the street be a good market value indicator, despite the subject being twice as large as other comparables in the area?  Is this location, that is adjacent to a major Interstate Highway, on in which would drive the value in this case?

What would be your approach to appraising this property?

………

C.R.E.A. – comment using this form with your thoughts:

Complete Real Estate Answers Inc.

nana photo

As an appraiser, real estate investor, Realtor; I am always on the go! My passion is real estate. My love for real estate started than I first stepped onto American soil, the land of opportunity! 15 years ago.A few months after my arrival, I lived and managed at a small B&B in New Canaan, while going to school, here, in Norwalk, for Hotel Restaurant Management. However, I shortly discovered that real estate was my calling.
When I started out, the first two years I did property assessment for Sabre Appraisal Division in New Canaan, CT. While with them, I diligently took courses and studied to become a licensed Certified CT Assessor, thereafter a licensed appraiser, then to top it off, a licensed Realtor! All part of my master plan to be entrenched in the real estate world.
As a residential appraiser for 12 years now, I have gotten the opportunity to go inside homes all over the county and state. I have appraised 100 of dozens of homes in Fairfield County. I truly think the more complicated the property, the better I appraise it, my Ph.D. analytical thinking helps me here a lot.
I reside in Stamford, CT with my husband of 10 years, who works the appraisal side of the business with me. I hold a Ph.D. degree from my home country in Physics. My two sons leave in California; one has his doctorate in political scientist and philosophy and is a professor at Claremont University, the other is an entrepreneur, President/CEO of his start-up company.
As a person that cannot sit still, in my free time I love to travel, to antique, do photography, cook and entertain my friends. I believe in giving in life, without expecting to get back. This is what brings me the utmost joy, yet being rewarded for a good job done, is as important and satisfying or equal to the joy of helping.

Nana Smith

“Ability is Nothing without Opportunity”.