Change in Appraisal Process Effects Real Estate Investing

Mooresville, NC, March 25, 2009 --(PR.com)-- Real estate investors rely on quick and responsive service when their banks or mortgage companies order appraisal to purchase or refinance their investment properties. New changes in this process being implemented May 1, 2009 can potentially change the mortgage broker/appraiser relationship.

Get Real, The Real Estate Investing Show for the Rest of Us spoke with Mary Thompson, licensed appraiser about the new code of conduct changes being instituted in 2009. Essentially it will remove the ability for local mortgage brokers to choose their own appraiser and move the relationship management to appraisal management services or the central banks home office.

Mrs. Thompson explained that real estate investors are used to a long term relationship with a mortgage broker and the appraiser performing the work. This could end that relationship and also the quick and responsive service associated with a long term relationship.

On this week’s show Mary also provided insight into understanding how real estate investing property appraisal values are calculated and what real estate investors can do to focus on repairs and renovations that will help increase the value of their property whether it is being rehabbed to sell or being kept as a rental property. More information is available through the weekly show Get Real at www.getrealrei.com.

Get Real is a top iTunes business podcast that can be heard at www.getrealrei.com , through a news reader at http://feeds.feedburner.com/GetrealREI or by searching for “get real real estate investing” through iTunes. Get Real provides a down-to-earth, real world view of real estate investing for current and future real estate entrepreneurs.

###