DHA Appraisal Blog

You may have an opportunity to have your property appraised free of charge in the State of Florida.   If the state or a local government in Florida intends on purchasing a portion or all of your property, that government entity will pay for the property owner's appraisal.  Additionally, legal fees incurred by property owner will also be paid by the government.  In Florida when the government comes knocking with an interest in purchasing your property, you should contact an eminent domain attorney.  In most cases, that attorney will have an appraiser who works with him or her and understands the nuances of eminent domain appraisal.

In most other states this is not the case.  Property owners are obligated to pay their appraiser out of their own pocket.  Additionally, attorneys are often hired on a contingency basis.

The Lakeland newspaper The Ledger reported July 1st that between 4,000 and 5,000 new homes are currently on the market in Polk County, Florida.  Builders are continuing to construct new homes despite the high inventory levels.  They are keeping their crews intact.  Many believe the next expansion is around the corner.   Time will tell.

Our appraisal office has seen a drop in residential appraisal orders.  It appears that some owners are contiuing to try to squeeze every penny of equitity out of their properties.  We are finding that seller of existing homes are paying a portion of the buyers closing costs in order to consumate a deal.

In my neighborhood, no homes have sold in the past nine months.  Sellers are refusing to lower prices.  In some cases, that is because they would have to write a check at closing in order to close the deal.  Others do not have to sell. They are holding on until they find someone who is willing to pay their price which will enable them to buy that bigger and better home. Some vacant properies have been rented at a loss every month because the mortgage payments are greater than the rental rate and the expenses.  But this is better than losing even more every month as the house sets vacant.