Michael Regan's (deerfield) Blog

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Real Estate Appraiser - Deerfield Beach Appraisers
RECENT BLOG POSTS
Mortgage broker Christopher Jared Warren confessed to $75 million dollar in mortgage fraud while working at Ameriquest. After working there for 2 1/2 years and committing $75 million in fraud he hacked into the company customer data base stealing info on 680,000 customers. He left the company wit...
02/06/2009
As an appraiser I am seeing more foreclosures which are ready to hit the market. This will continue to but downward pressure of home values. The home owner vacancy rate hit a record in the 4th quarter of 2008 at 2.8%. And there was a 9% rise in vacant homes that are being held off the market. Acc...
02/04/2009
I went back and read a story from 3/2007. It was about a strawberry picker in California who was making $14,000 per year but was able to qualify for 100% financing on a $720,000 home. No, that's no typo, $720,000 home with no money down making $14,000 per year! The guy defaulted on the loan a yea...
02/04/2009
Three banks in Florida, Maryland and Utah were closed yesterday. Home values continue to decline. People are afraid to buy a home now for fear they may lose there jobs. Home prices doubled in a five year period in Florida but wages didn't double. The doubling of home values was induced by the dem...
01/31/2009
I've read several blogs that have tried to blame the housing bubble on appraisers. Appraisers did not cause the real estate bubble. It was lacks loan requirements originally pushed by politicians who complained that lenders weren't lending enough to low income individuals with bad credit. Solutio...
01/28/2009
If you list all 100245 homes currently listed in MLS (broward/palm beach/dade) with an asking price of $1 they would all sell in a day. Up it to $5 and they would still sell in one day, probable more like 5 minutes. The reason there is an oversupply of homes on the market is that many sellers are...
01/26/2009
I'm a real estate appraiser and have seen appraisal management companies like Landsafe operate since I started 17 years ago. They are like vultures and they typically charge borrowers $375 to $475 for an appraisal. They then turn around and find an appraiser who will work for the least money, typ...
01/25/2009
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Michael Regan

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