Money and Success

Surviving the Credit Crisis

Karen Simpson-Hankins,CTACC

Surviving The Credit Crisis – Are Real Estate Appraisals Really Necessary?

With the continued tightening of underwriting guidelines by lenders, an appraisal is the most critical component in determining risk by the lender. But…from a consumer point-of-view, I am continually asked, “Is an appraisal really necessary?” I don’t believe that most consumers really understand what an appraisal actually is, what it includes, and how a lender will evaluate that information when approving or denying a loan!

Join me today as my guest, Gail Wood of High Desert Appraisal, and I discuss some of the most common consumer appraisal questions!


1. Does an appraisal include a home inspection?

2. What does a typical 1004 appraisal include?

3. Where does an appraiser get the information needed to complete an appraisal?

4. What is a market approach?

5. What is market value?

6. What does highest and best use mean?

7. And much, much more!

Gail has been serving the residential appraisal needs here in Central Oregon since 1999 and this gal knows what’s going on in the market around here! She can be reached at (541) 548-5533 if you have questions.

If you are ready to look for your next home, learn the 4 common mortgage mistakes that consumers make and how to avoid them before YOU go shopping! Also, learn the 9 critical questions that you always ask a lender. It will save you time, stress, and money!