Beverly Bayer's (bbayer) Blog

Moreno Valley Califoria Market Conditions: Summer 2010 Prices are stabilizing, and the months of inventory is increasing.  We are now at about 2.55 months of inventory (in contrast the months of inventory was 1.7 months on 4/29/2010), based on the number of pending sales in 1-month vs. the number...

Here we are out 50 days from the May 1 - kick off the the HVCC (the Home Value Code of Conduct) required on all loans headed to Freddie Mac or Fannie Mae.  It is the "code" that prohibits loan people from engaging the appraiser.  It was designed to stop the pressure loan originators sometimes put...

On 6/4/2009 I ran the foreclosure stats for Moreno Valley California and listing info.  Finding 2038 homes with Notices of Default (NODs), 1480 homes set for the foreclosure auction (NOTs); and 2642 lender owned homes (REOs) - for a total of 6160.  The total number have been steady for a few week...

Lavon Ivy an Ohio appraiser was sentenced to 3 years in prison recently for mortgage fraud  Also sentenced were her father and their mortgage broker.  Apparently Ms Ivy produced a property appraisal inflated by at least $30,000 per expert witness testimony, including a failure to report known pro...

May 8, 2009 One week in with the HVCC (home value code of conduct).  This is a Fannie - Freddie requirement that a seperation be made between loan production and the appraisal.  Taking away the ability of a loan broker from choosing the appraiser - either directly or indirectly.  It is designed t...

As we waddle through the mortgage mess we are in and the hunt goes on to find who's at fault - two groups will be on the list: Loan Brokers and their Appraisers..... Cerainly there is plenty of blame to go around - from a National policy to help more families buy homes; from relaxed lending guide...

In November 2008 the median home price in America (per NAR) was: $181,300 In December 2008 the median home price in Moreno Valley, CA was: $146,500  per dqnews.com The average Moreno Valley home listed for sale now between $145,000 and $148,000 is: 1666 square feet in size Built in 1986 on .20 ac...

Looking the the list prices of the pending sales from November 2008 and list prices of homes that sold in August 2008 - I am finding that prices on average (about) have been lossing value at the rate of $250 per day.  Right now you can buy twice the house for $200,000 (2200 to 2400 square feet) a...

So if you go to realquest.com you can type in a zip code or city - and find the number of "Notices of Default", Notices of Trustee Sales" and REOs".  So I did that for 6 cities or a combination of cities, coming up with a total of NODs, NOTs & REOs. Next I found the current populations of those c...

One week ago: 11/14/2008 Fannie put out an addendum that appraisers will need to include in their appraisals starting April1, 2009 (no kidding). It will be asking for the number of comparable listings and sales for the past 3 months; 4-6 months back and 7-12 months back; their median days on the ...