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Updated about 9 years ago,

User Stats

9,807
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JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
15,736
Votes |
9,807
Posts

I can't believe this never occurred to me - talk to your banker!

JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorPosted

One of my properties I am doing a cash-out on (its F&C right now) and was on the phone with my local mortgage underwriter at my bank discussing some wrap-up items. During that discussion we got into a discussion regarding local areas and appraisals. She was able to tell me a lot of the local areas that the appraisals on homeowner purchases and investment property purchases were coming back stronger than expected, as well as the communities where appraisals were coming in weak or less than contract price. 

It was great information that made me wonder why I never actually had this conversation before! It was nice to see some independent confirmation of the areas I have been looking at but also gave me some insight on some other areas to look at (and ones to avoid). 

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Skyline Properties