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A Proactive Approach to Home Valuation. David Barnes Sr. Relationship Manager DavidBarnes@GotAppraisals.com 925.965.0378. Ultimate Mortgage Expo Atlantic City, N. J. June, 2013. Today’s Topics . Benefits of understanding potential value up-front How to leverage that knowledge

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a proactive approach to home valuation

A Proactive Approachto Home Valuation

David BarnesSr. Relationship ManagerDavidBarnes@GotAppraisals.com 925.965.0378

Ultimate Mortgage Expo Atlantic City, N. J. June, 2013

today s topics
Today’s Topics
  • Benefits of understanding potential value up-front
  • How to leverage that knowledge
  • Structuring the deal around potential value
  • Positioning yourself as the expert
  • Realtor-based business
appraisal issues
Appraisal Issues
  • Appraisals ruining your deals
  • Unrealistic value expectations
  • Price adjustments due to LTV/CLTV
understanding potential value
Understanding Potential Value
  • What does the borrower think the home is worth (or purchase price)?
  • What do you need the home to be worth to make your deal?
  • Is there anything going on with the subject property that could impact its value or your loan (i.e. deferred maintenance, permit issues, unique situations, etc.)?
why let v alue k ill y our deal
Why Let Value Kill Your Deal?
  • Have a good idea of potential value while packaging the deal
  • You need something more accurate than a BPO or an AVM and that is cost effective
  • Knowledge is POWER!
leverage your knowledge
Leverage Your Knowledge
  • Educating your client
  • Setting realistic expectations for youand your client
  • You are the mortgage expert
structuring the deal
Structuring The Deal
  • Best and worst case scenario
    • Will the deal still work?
      • Cash to close
      • Mortgage insurance
      • Potential for a rate increase due to LTV/CLTV
you are the mortgage expert
You ARE The Mortgage Expert
  • Creating long-term relationships and referral-based business
  • Stand above ALL of your competition
realtor based business
Realtor-Based Business
  • Knowing up-front if there will be potential value issues with purchase transactions
  • Make your agent look great!
  • If there is an issue, get out before contingencies are up.
the interactive avm compared
The interactive AVM, compared
  • Standard AVM:
    • Low cost, automated estimate of market value
    • Automation is a shortcoming
  • GotVal and GotVal Plus interactive AVM’s:
    • Start with an AVM
    • Add insight from trained staff members
    • More accuracy, without losing speed or economy
interactive avm
Interactive AVM
  • Geo-statistical formulas and analytics
  • Multiple data sources
  • Confidence scoring, plus additional data
  • Trained staff* intervention to adjust subject and comp criteria
  • Elimination of sales data that is not pertinent

*Trained staff is not necessarily an appraiser.

interactive avm3
Interactive AVM

All of the benefits of GotVal, AND…

  • Property inspection report
  • Exterior Photos
the professional abbreviated report par
The Professional Abbreviated Report (PAR)
  • Completed in 24-48 hours
  • Done by local certified appraiser
    • Direct knowledge of the subject neighborhood.
  • Order full appraisal within 10 days
    • Get $50 off
    • Will be completed by the same appraiser.
the par advantage
The PAR Advantage
  • Fast
  • Always done by a local appraiser
  • Always USPAP-compliant
  • Save money on follow-up appraisal
  • Full-time support staff to answer questions
  • No conflict of interest with broker agenda
  • Photos of subject and comps available
  • High accuracy
thank you
Thank You!

By doing a little homework up front in properly qualifying your collateral, you can save yourself and your borrower a lot of frustration, time and money.

You will have better quality loan packages and much happier clients.

If you have any questions contact: davidbarnes@gotappraisals.com