My New Blog

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This link is a site called TruliaVoices where general real estate information on our area can be located.

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Insuring manufactured homes which have undergone extensive renovations is often a problem.  This is a post I made some time ago.  I thought I would re post this for manufactured home owners in the Ft. Myers Beach and Bonita areas.  There are many older homes in these parks which have upgrades not recognized by the insurance companies.  This is my previous posting.

Many owners of manufactured homes whether on leased sites or fee simple run into problems getting insurance for enough to cover the loss of the home.  Insurance companies strickly go by the book price which is very low for the older homes.  Most owners have done extensive remodeling and upgrades which the insurance companies do not take into consideration.  Having appraised both leased parks and fee simple manufactured homes in the area,  it is apparent that most are no longer the original home.  Owners who have a problem getting the correct amount of insurance can ask their agent if a certified appraisal would be accepted.  An experienced appraiser applies and economic age rather than actual and also can make adjustments for upgrades.  Typically insurance companies will accept the appraisal and insure based on the replacement cost indicated on the report.  In the Southwest Florida area, there are few appraisers qualified for leased site parks.  I was fortunate to spend 4 years with a specialist in this type of appraisal.  I have the park data necessary to complete these assignments.  If you have issues with the value on your insurance,  talk to your agent and see if it is worth the price of an appraisal to get the correct replacement cost of your home.

I appraise manufactured homes in these areas:  Sanibel, Bonita, Naples, Fort Myers, Port Charlotte and Punta Gorda.   

I haven't made posts in some time.  With the implementation of HVCC, I find myself needing to seen on the internet.  This is the new age appraisal process.  I have had customers for years that are no longer allowed to contact me for orders.  Instead we are selected by Appraisal Management Companies.  Appraisals in Ft. Myers, Cape Coral and Lehigh Acres kept this appraiser busy full time.  As of May 1st, we are now a number on a list. 

How many orders have I received?  Since HVCC, I have received 3 orders from appraisal management companies.  I have received FHA orders as my customers can still use me.  Most of the appraisals I have done since May 1st is for manufactured homes to correct insurance coverage, estate appraisals and other litigation appraisals for bankruptcies, divorces etc. 

What I hear from other appraisers is the same.  The mortgage companies are also affected by this legislation.  The result has been low quality reports done by appraisers who are not in the Ft. Myers area at all.  The work is poor quality, and the mortgage companies have to pay more for them.  If they need to send the report to another source, they have to order another one.

We can only home the legislators will hear the outcry and change HVCC to address these issues.  While lender pressure is not welcome, and I understand the need for legislation.  HVCC has had consequences which make matters worse.  Banks are now using only on staff appraisers.  This is a conflict for sure.  Banks also own some of the appraisal management companies.  Seems like another conflict.

Pending sales are stacking up in the Southwest Florida MLS.  We need these to close.   Our recovery is in sight.  HVCC is snuffing it out.

In the mean time,  litigation appraisals and manufactured home appraisals will keep this appraiser independent.   Call your representatives and tell them, HVCC needs to go.

Need an appraisal?  Call me for Fort Myers, Lehigh, Cape Coral, Captiva, or Port Charlotte,  I can' help you with anything but mortgage financing.

With the recent storms coming into the Gulf of Mexico, we are reminded of Hurricane Charlie 4 years ago which devasted the Punta Gorda area.  I have had previous posts regarding insurance on manufactured homes which is insufficient to cover the replacement in a case of devastation.

Insurance companies use a book price for manufactured homes and mobile homes which does not take into account remodeling.  I see so many renovated structures where the owner has done roof-overs, upgrades to kitchens and baths, new subfloors, windows and electrical etc.  These affect often the quality rating and the economic age of the structure.  In order to get replacement cost covered by the insurance company, often a certified appraisal is required.

For those who have seen my ad in Senior Resource Book and have visited this blog, I am offering a discount rate of $150 for a certified manufactured home appraisal for insurance purposes.  This offer will be good until November 1st for appraisals done in Lee County, Florida.

This is a huge savings off the regular rate.  I hope this will help our seniors who wish to have their home protected to get the insurance adjusted to an amount which will cover the replacement cost.

Appraisals are also available for Charlotte and Collier Counties at my posted rates.  Call me and mention this blog or the Senior Resource Book to get this discount.  239-633-5946. 

This is an email I have mailed to my customers.  I would suggest viewing the Mercury website shown to stay up on this important Legislation and the effect on the Real Estate and Mortgage Industries. 

I have noticed a distinct pick up in pending sales in the MLS.  It will take awhile for inventory to straighten out, and even longer for building of new homes to pick up.  I am however optimistic that the great prices are bringing in the buyers.

One Realtor that I know has closed 30 houses this year.  He has a large bank of buyers waiting for the right house at the right price.  They are up against other bidders.  All good news for the Lee County area. 

When appraising Ft. Myers, I noticed a rather large correction in the last part of 2007 and 2008.  Many of these areas held up better than others, however with bargains in Cape Coral,  the Ft. Myers market had to adjust in order to compete.

I was doing a manufactured home in the Iona area for insurance valuation.  I noticed that the market appears quite stable for Fee Simple Manufactured in that area.  The opposite is true for PUDS.  Builder close outs are still affecting these more upscale communities in Iona.

Still all in all, activity is picking up and the end of this downturn appears to be coming to an end. 

I have helped several owners of manufactured homes with their issues regarding insurance.  Many insurers will accept a certified appraisal to determine replacement costs.  Contact me for more information.

I can appraiser manufactured or mobile homes both on leased sites or fee simple ownership.  Coverage areas for appraisals is Lee, Collier, and Charlotte Counties.  Summer special in Ft. Myers $250.00 for full manufactured home appraisal.

Having served as special magistrate for the Lee County Clerk of Court for 2 years,  I have seen many petitioners denied because they did not have the correct evidence to win the petition.  Many times it appears they have a good case, however no knowledge of what is evidence.  It costs the tax payers a lot of money to pay people like me to hear and review the evidence provided by the petitioners. 

Although it is a conflict for me to perform appraisals for this purpose in Lee County,  I can offer advise to help determine what is evidence for reducing your taxes.  Check out your trim notice and refer to www.leepa.org for instructions and forms.

As many of us know, pending sales in the Fort Myers area have picked up.  This is also noted in Cape Coral.  All we need now is the lenders.  I know that the lending institutions and banks are gun shy and have strict appraisal guidelines.  I have been adding statistics and extra comparables to my reports along with a complete narative on the market.

When Appraising in this market, it is important to be willing to take the time and mileage to do the job right.  I have placed as many a 7 comparable sales on reports along with 2 recent listings.  In most cases the lenders are satisfied.  There are a few lenders that would rather rely on an AVM than a complete appraisal.  AVM's are ok for a market analysis, but are inferior when it comes to appraising specific properties. 

I believe that soon, lenders will realize that if they do not originate any new loans, they are not making money,  so this will sort itself out.  They are missing out on well priced properties with qualified buyers.

Lets hope these pending sales turn into closed sales and life can move on in Ft. Myers.

Call me for quality reporting for appraisals in Fort Myers, Naples, Bonita, Cape Coral and Lehigh.