IMO Home Appraisal LLC

06/07/2023

What is the best way to learn? Teach!

A special "thank you" to Keller Williams Prestige for allowing me the opportunity to take an hour and educate the team on comparable selection, communication and lending requirements of appraisals.

Also a special thank you to Kevin Stultz for capturing a photo, even if it isn't so flattering of me:)

03/17/2023

I love my City! So much to do, so many inspiring people to meet.

One of the most underrated places in town … The Library! One of my son’s favorite stops every week, and I love to watch him grow.

The compass as you walk through the doors, keeps your life pointed in the right direction!

03/09/2023

I'm appraising in Bayside today, and this is one of my favorite historical monuments in Milwaukee County. Here is a link to the history: https://milwaukeehistory.net/education/county-landmarks/bayside/

12/16/2022

The Greater Milwaukee Association of Realtors put this data together for SE WI. Six months of inventory is considered a “balanced” market. If inventory falls below six months, the market favors sellers, and when inventory exceeds six months, it is a buyer’s market. SE WI is far from having a 6 month supply.

04/17/2020

Curious how COVID-19 is affecting Waukesha County? Here are some interesting statistics I pulled today (4/17/2020).

When comparing March 1st - April 15th:
Total Sales (single-family homes)
2019: 477
2020: 503 Overall sales are up

Median Home Sale Price (single-family homes)
2019: $325,000
2020: $332,000 Value increase of 2.2%

Past 2 weeks:
Total Sales (single-family homes):
2019: 182
2020: 147 Sales are down

Median Home Sale Price (single-family homes)
2019: $330,750
2020: $350,000 Value increase of 4%

The unemployment rate is rising. Many individuals are currently without work. The supply of homes remains low. While less homes are currently selling over the past 2 weeks, values currently don't show that they are negatively affected. Overall, there is a lot of contradictory data in the market for home economics. As more data continues to come out, it will be interesting to see how COVID-19 affects Waukesha County home values.

01/21/2020

I love the focus of helping a neighborhood a few blocks at a time. Great job Habitat for Humanity! Building Pride and the next generation.

Habitat for Humanity continues to help improve the Harambee neighborhood. Awesome work! I'm thankful for the generosity of Habitat for Humanity and Bader Philanthropies!

07/29/2019

My buyer has FHA financing. How does that affect me as the seller?

This is a good question, and there are many different aspects of the transaction that we could discuss. From the appraisal standpoint, understand that your appraisal inspection is going to more detailed than the typical appraisal done with conventional financing. The appraiser is going to be looking for issues that are mandated by the Department of Housing and Urban Development, that affects any potential Safety or Health concerns, and those that impact value.

Here are just a few examples of items the appraiser will be looking for:
-Chipping or flaking paint
-Exposed wood without a protective covering
-Signs of infestation
-Proper placement of hand rails
-Functioning electrical and plumbing
-Functioning appliances, heating/cooling sources
-Structural integrity of the basement and roof
-Many, many more….

In an appraisal with conventional financing, these items would also be looked at, but unless severe, probably wouldn’t hold up your closing. With a governmentally insured mortgage, like FHA financing, these items need to be rectified prior to closing. This could equate to additional expense on the sellers behalf, additional negotiation time, and additional trips from an appraiser to ensure everything has been rectified.

If you accepted an offer that has FHA financing, ensure your listing agent has given you a checklist of items to ensure are taken care of, prior to the appraisal. Proactively ensuring items are taken care of will save you money and stress in the closing process.

Here is a link to FHA, Single Family Housing Policy Handbook. This has a lot of information, but if you are under contract with a buyer with FHA financing, it may be worth checking out.
https://www.hud.gov/sites/dfiles/OCHCO/documents/4000.1hsgh.pdf

06/06/2019

Is this a bedroom?

05/30/2019

We are feeling blessed with referrals this week!

A referral is the biggest compliment you can provide to a small business. Thank you to those that have taken the time to recommended our customer service, communication and valuation services. We appreciate you speaking up!

05/09/2019

Fear the Deer!

The Bucks are moving on to the Eastern Conference Finals!!!