Zots Appraisal Services, Inc.

Zots Appraisal Services, Inc. We have been providing Residential and Commercial appraisals for attorneys, accountants, homeowners, lenders etc for over 20 years!

We provided independent real estate appraisals for any reason (residential/commercial). Whether buying a house, looking to sell, tax appeal, estate, bankruptcy, divorce, lender work etc. We are highly skilled as we have been in business for over 20 years and have navigated the toughest real estate markets. We will make you appraisal run as smoothly as possible!

12/08/2021

Join Lyle Radke, FannieMae Director of Collateral Policy and George Dell, CRE, MAI, SRA, ASA as they discuss Changes in Appraisal. This video was recorded li...

01/07/2019

U.S. housing market value climbs to $33.3 trillion in 2018
In 2018, the total value of the U.S. housing market increased $1.9 trillion, propelling its value to a whopping $33.3 trillion, according to new data from Zillow. Notably, a third of the nation’s housing market value can be attributed to California, which has climbed $3.7 trillion since the market crashed in 2012.

Have a Great Holiday from all of us at ZOTS Appraisals!!
12/19/2018

Have a Great Holiday from all of us at ZOTS Appraisals!!

12/04/2017

Senate passes major tax reform that impacts every mortgage facet
Tax reform. Tax reform. Tax reform. The big issue facing housing and mortgage finance, by far, is tax reform. The Senate passed its major tax reform Friday night, and now the two parties will need to come to a consensus on which tax bill they will send to the president's desk. For now there is no consensus, or clear guidance, on what tax reform will entail.

10/23/2017

Carson: HUD working with DOJ on easing enforcement of FHA lending
Speaking Monday during the morning general session at the Mortgage Bankers Association Annual Conference in Denver, HUD Secretary Ben Carson told attendees that HUD is working with the Department of Justice to address the rise of DOJ enforcement in Federal Housing Administration lending. Then Carson did what normally doesn't happen in speeches like these: He made an announcement.

09/12/2017

Lenders: Need more Valuation Options

(The following is extracted from HousingWire).

LRES Chief Strategy Officer Mark Johnson explained to HousingWire that some lenders use AVMs in addition to full appraisals to validate them.
"The AVM is more designed to value an area as a whole off of validated data, while the appraisal is personal to that property," USRES Chief Appraiser George Paquette said. "To go the other way around to use an appraisal to validate an AVM I think would be a little bit misleading because you're not honing down on a certain property and the attributes that it has, the floorplan, views, location or things like that, while an AVM is just aggregating the data for the area."
But lenders don't have to choose between one or the other, and many use a combination of both. "When we're speaking about AVMs, the questions and some of our answers end up sounding like AVM or appraiser, and I don't think the two are necessarily mutually exclusive," Johnson said.
Paquette further explained the appraisal products don't have to be one or the other, and that more of a blend of products is needed.
"It seems a little bit crazy to me that you would have two sides of the spectrum like that where you have an AVM and then you have a full appraisal and those are the only two options," Paquette said. "I feel that's like walking into a restaurant and you have a hot dog and a filet mignon and you have to choose one of the two."
We have heard the cry for AVMs before, but not so much lately. Now, it seems to be coming back as lenders seek to close loans more quickly. The appraisal typically is the culprit in delaying funding. As the two appraisal managers say above, the AVM is not a viable alternative, but is there something between the two that is viable?

09/08/2017

Equifax reports massive data breach that could impact 143 million consumers
Credit reporting agency says "criminals" had access to highly sensitive personal data
Equifax, one of the nation's three largest credit reporting agencies, revealed Thursday that it was the victim of a "cybersecurity incident" that potentially impacts as many as 143 million U.S. consumers. The company said that "criminals" had access to the names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers, of approximately 143 million consumers.

09/06/2017

MBA: Refinance applications now make up half of all mortgage applications
As mortgage applications ticked slightly higher, the share of refinance applications finally inched its way back up to half of all mortgage applications, according to the latest report from the Mortgage Bankers Association. Meanwhile, mortgage rates also dropped to record lows for the week

08/30/2017

Majority of Hurricane Harvey homeowners uninsured and face billions in damages
Hurricane Harvey hit South Texas as a Category 4 storm, flooding the city and destroying thousands of homes. Kroll Bond Rating Agency predicts $35 billion in flood damage alone, levels not seen since Katrina. However, this time, the number of homeowners without flood insurance is significantly higher.

08/23/2017

FHFA: Home prices increase 6.6% in second quarter
Increased in nearly every state
Home prices increased in nearly every state across the U.S. and the District of Columbia. Gains were the highest in the Pacific region, where the second quarter saw a nearly 9% increase from last year, but lowest on the opposite side of the U.S.

08/16/2017

Home prices hit yet another new all-time high
Home prices increased in the second quarter, surpassing last year's third quarter record to reach yet another new all-time high. The National Association of Realtors explained the continued lack of new homes for sale is sending home prices soaring.

Address

PO Box 276
Rochelle Park, NJ
07662

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+12018436120

Website

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