Adjusting Value on VA Appraisals

The valuation challenges continue in the Phoenix area Real Estate market as evidenced by a recent change in how VA allows adjustments to be made to the Arizona VA appraisers estimate of value.  In the past, qualified Mortgage underwriters had the objective freedom and ability to increase a VA appraisers valuation of a property by up to 5% of the value given. While it was a rarely used option, increasing the value an appraiser gives on a Phoenix are home by 5% on a VA appraisal was in fact an … [Read more...]

Low VA Appraised Value Tidewater Initiative Arizona

When an Arizona VA appraiser believes a home's value is below the sales price they are required to notify the Arizona VA mortgage lender providing the VA home loan for the buyer.  This requirement to notify that value is coming in low is based on the "Tidewater Initiative" that was established in 2003. Apply Now for a VA Home Loan The Tidewater Initiative states a VA appraiser must give notice that the value for the property being VA financed is coming in lower than the home's sales … [Read more...]