Sandy's Blog

This morning I had an appointment with a video photographer to shoot a promotional video to replace the one I have on YouTube.com/Coldwell Banker.   Since today is a Saturday l wondered if the Life Guard who was in my first promo would even be on duty.  My second thought was before 10:00 A.M. there would not be many people on the beach.  I was wrong on both counts, since the Life Guard and a crowd of people had already taken their places for a day at the beach.

I think I had my "fifteen minutes of fame" after the camera was set up and I began to speak, people began to stop and look.  You could almost hear what they were thinking.  It was fun but only for the moment. 

I was on the Coldwell Banker site for agents and saw a link for an article from The Wall Street Journal and when I opened it I was shocked.  Here's a link to the article "What's With All the Moaning about Home Appraisals?" 

Here's my blog comment to that article:

• 9:57 pm July 12, 2009
• Sandy Keller wrote:

I am very disappointed with the Wall Street Journal for allowing publication of an article written by someone who does not have a clue about the subject. I worked for the Federal Government in Washington, D.C., was President and CEO of several corporations, and now I am one of those Realtors that you want to blame for moaning about appraisals. Since lenders and the media started the problem with the housing market common sense should have you and the lenders lead the way back, not to the "boom" but to a normal market. Recently the lenders own underwriters are not accepting appraisals done by appriaers hired directly by the lender. Lenders are using appraisers from other States. Entire communities are losing value if there has been one or two foreclosures. You need to do your homework and stop blaming Realtors.

If you are planning to obtain a mortgage when you purchase a condo be prepared to put down at least 25% or your mortgage will have additional fees. 

Fannie Mae has implemented two new mortgage fees:   Condo Buyers .75% add on fee and an additional 1.75% fee for Investors and they are applicable to loans that exceed 75% of the condo value.  If you are able to pay at least 25% of the condo value the fees are not applicable.

Note:  Loan-to-value may not be based on the purchase price, it will probably be based on the mortgage companies appraisal and appraisers are coming in with some low amounts based on the market.