A proactive approach to home valuation
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A Proactive Approach to Home Valuation. David Barnes Sr. Relationship Manager [email protected] 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

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A proactive approach to home valuation

A Proactive Approachto Home Valuation

David BarnesSr. Relationship [email protected] 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.


Now introducing

Now Introducing!

&


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 avm1

Interactive AVM


Interactive avm2

Interactive AVM


Interactive avm3

Interactive AVM

All of the benefits of GotVal, AND…

  • Property inspection report

  • Exterior Photos


Interactive avm4

Interactive AVM


Interactive avm5

Interactive AVM


Interactive avm6

Interactive AVM


Interactive avm7

Interactive AVM


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


A proactive approach to home valuation

PAR


A proactive approach to home valuation

PAR


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: [email protected]

925.965.0378


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