FHA Appraiser, Albert M. Cheney, reporting on The Woodlands At The Preserve Subdivision located along the north side of Girby Road between Government Boulevard and Hillcrest Road within the city of Mobile, Alabama.

The Woodlands At The Preserve Subdivision has 82 lots and, since 2006, around half of the lots have homes.

The majority of the homes will range from 2,000 square feet to 2,500 square feet with three bedrooms and two to three bathrooms.

The Average List Price is $368,857 and the Average Sale Price is $332,361 at this time.

The Average Sold Price Per Square Foot is $154.59.

The Average Number of Days On Market (DOM) is 127 days at this time;  although, the current economic and lending conditions could lengthen the days on market (DOM).

The Listing Price To Sales Price Ratio is approximately 99.6%.

The REALTOR online records indicate a Low Sale Price of $275,000 and a High Sale Price of $470,000.

The above information was obtained from the Mobile Area Association of REALTORS.  Albert M. Cheney, FHA Appraiser, is a member of the local REALTORS organization.

I know there are supposed to be changes coming. I don’t know what exactly those changes are going to mean for the appraisers as of yet but what I do know is that although every “appears” to be running scared, no one really is. There are cries for help from the lenders losing money and cries for help from the homeowners losing their homes, and cries for help from the PMI companies, and appraisers who are honest and want some protection, and the list just goes on and on, but the AMC’s are still calling and asking who can do the jobs the cheapest and the fastest, and the rouge appraisers are still sending their trainees out to do these jobs as poorly as possible, and no one wants to pay a little more to make sure the job is done right the first time and the end result is not what everyone is crying about…

How can they keep on crying when they keep on doing what they were doing before this all happened and nothing changes? The same appraisers who came in high on all the appraisals that are inflated and in foreclosure are doing the really bad REO appraisals and are destroying the foreclosure market and short sale market for the lenders, leaving houses on the market for over a year because of inflated, poorly done appraisals and BPO’s (which is a whole different ball of wax)…

Does anyone have any input here?

Julie

Sedona, AZ