What Has Made You Go Wow!

[Restrain]

Back to the fun and games...Just looked at a strawbale home that was built by the homeowner, used hand-sawn green cedar for the interior walls, and built all the interior doors and cabinetry out of the same stuff with corrugated iron panels in the doors. Suffice it to say, no value -way too many problems.

Did a home that looked normal from the outside. On the inside where the living room would be, the floor stepped down (pier and beam home) to a gravel pad with a 57 Chevy in the home. The garage had been enclosed to the living area, the partition wall removed, the car driven in, and a wall built over the garage door. I don't know how he ever hoped to get the home out.

The most magnificent home was the 40,000 SF mansion we did - now on the market for $45M.

I've got one I looked at today- looks like a typical Weekley/Centex custom tract home with typical elevations from the exterior. Interior has all granite and marble flooring on all flooring, polished marble columns, imported custom bath fixtures from France (French Provencial with gold gilting). Can we say OVERBUILT FOR THE MARKET?

I think the most common WOW is when we do a review or foreclosure and the question comes up "How did they get a loan on this dog in the first place?" Such as the VA loan on a single wide that had one of the long walls removed, an addition put on, with no structural roof (shed on pipe frame) and a foundation of 2x6 stiff legs.

Roger

 

[Jo Ann Meyer Stratton]

David: The key is the building code that was followed at time of original construction, so if you don't find the HUD label, but have proof from something else (like the data plate or ownership documents) that the home was constructed to the HUD building code after June 15, 1976, it can receive Fannie Mae financing regardless of what kind of "trouse" is built around it--just so it is marketable as Lee Ann said. The mobile home originally built before June 15, 1976 will not have been built to HUD code, it may or may not have been built to an industry code; that is why Fannie Mae will now longer loan on a mobile home, no matter how nice, well built, well maintained, additions have been done, etc, etc, etc. So the terms of manufactured home or mobile home can mean life or death to some type of financing whether it is Fannie Mae or FHA.

 

[Nikki Dufala]

GREAT stories!!! I was just wondering if anyone has had anything bad happen while doing an inspection?

I ask because I am a young female and am scared to death when I have to go into a bad neighborhood or when the homeowner is just weird. Maybe it's just too much TV

 

[Frederick R. Ruffell]

Nikki Dufala,
You can always say NO!
I have on occasion called the Sheriff to escort me on inspections to known crime areas. Of course the client is hit with a huge fee for this service and is typically on a foreclosure deal and or on income property. Sometimes it is just best to say NO, and move on to the next one.
I had a young gang banger open the passenger door to my truck after I took a picture of "his brothers ride" but he left in a hurry after I showed him the Mossberg pump with the pistol grip, I think it is called a "street sweeper" by the Oakland PD, anyway it is the one they advised me to get years ago when I refused to stop appraising in certain neighborhoods in Oakland, CA. I do not carry it anymore as it is probably more trouble than not.
I responded to your post because my daughter's name is Nikki also, and now that I think of it, just say no to the ones in those areas that are trouble.

 

[Bill_FL]

Nikki,

In questionable areas, take someone with you.

If you get a bad feeling, leave. I have done that. Make an excuse, camera crapped out, you just got beeped, there is an emergency, etc. Then reschedule with help or cancel it with the client.

The worst was a review I did. I got a call from a company I did many reviews for. The underwriter (one of the really good ones) asked me if I would do an interior inspection on a field review. She said she just had a bad feeling. I told her sure, and quoted the fee. She told me that in the fron picture, she could see 4 electric meters and the house was listed as single family. (She was sharp).

I went to the house and met the owner. (I suspect he did not live there) The owner is also the mortgage broker. The house sits on an angled corner facing a side road and the busiest road in the town. It has a spectacular view of the regional post office and a burger king. As I walk through, it is obviously a 4 family. Looking at the other appraiser's drawing, he has put doors where there were none, called the 3 other kitchens bedrooms, etc. To make matters worse, even if it were sf, he chose comps from a "premier nh about 6 miles away in a 300K area. In the subejct's area, there were 24 sales of comparable size sf homes in the 80-90k range, all within 1 mile.

I know that I am now obviously looking at fraud. As I walk back to my truck, the owner says, "So, is everything ok?" I tell him that I do not know what he is working on with his lender, so I cant answer that, they just wanted me to come out, look at the property and tell them what I saw.

At this point his face goes red, veins start popping out...he looks at me and says.. "DO NOT F*** THIS UP FOR ME, I HAVE TO GET THIS MONEY" I tell him, sir, I am just telling them what is here. He looks at me.."GIVE ME YOUR CARD I WANT TO BE ABLE TO CALL YOU ABOUT THIS. IS YOUR ADDRESS ON THAT CARD?" I do not hand him the card, get in the truck he is still yelling. I pick up the phone, call the client and tell her I will not finish this one. I tell her that she does need to turn this one in to the state, one of the worst I have seen.

 

[Mike Garrett RAA]

Nikki....always be cautious. It's not just TV stuff. Couple of hints:

1. Always tell someone where you are going and when you are expected to be back.

2. Confirm appointments, if you feel the least bit uncomfortable take someone with you. You can some times make things better by saying..."my assistant will be working with me".

3. Carry a cell phone, big dog, mace, baseball bat (camera monopod).

Ok guys, here is the best house I ever appraised.

This place was built over a mountain stream and the floor in the family room folded back exposing a trout pool that was lighted at night. You could fish without going outside. Was a summer home only.

 

[Charlotte Dixon]

Yesterday's appointment not exactly WOW, but more like WATCH OUT!

Listed w/Realtor, no lock box allowed, appointment scheduled, homeowner would be there. Rang door bell, knocked, went and sat in car because I was 5 minutes early. Went back to door, rang door bell, knocked again and left a card in door. Went back to car and called Realtor describing steps taken to access subject property.

As I was driving away I looked in my rear view mirror only to see a guy standing in the subject driveway, looking quite irate. I backed up, parked, got out and the guy said something like GEEZ, why didn't you knock on the door? Then I would have let you in...mumble, mumble. I went in and asked did his door bell not work. That ticked him off and he shouted NO, IT DOESN'T....DO YOU NEED ME FOR ANYTHING? (throwing up his hands). I got the message....Don't make him mad! The interior inspection took no more than 10 minutes; I watched my back and was glad I had called the Realtor from the car, just in case. If I had it to do over, I would have kept driving with the weirdo in my rear view mirror. This was the first real scare I had in years.

 

[Linda Lynch]

Where to start????

How about the 13 room house that had blankets dividing each and every room (including the kitchen) into 4 parts. A cot in each of the parts. Lady TOLD me out of her own mouth that she rented each part to undocumented workers who paid her $100 per month each. But the best part was when she was showing me around the basement (also divided) and we walked around a blanket and found a man and woman "getting to know each other." I was, needless to say, very embarrassed. Not her. She just says; "Oh that's just my husband and his girlfriend" and kept right on talking.

Then there was the time I was greeted by a wolf. You'd never belive a woman my age could move so fast.

Or the house that was built completely with materials scavanged from torn down buildings. The guy had built it himself from all of this junk and it didn't fit together at any point (and this is in Wisconsin where it gets COLD) Of course he thought the estimated value should be $160,000. My opinion was that it was worth the cost of scrap lumber. I could go on and on.