Appraiser James



Services Include


PMI Removal

Private Mortgage Insurance or PMI is the supplemental insurance that many lenders have to purchase when a loan amount exceeds 80% of the value of the home (LTV loan to value). The payment of PMI is commonly rolled into the monthly mortgage payment and can be quickly forgotten. As property values increase and/or payment to principal falls below the 80% level PMI is no longer required. The Homeowners Protection Act was passed in 1998 by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met. An appraisal is required to determine the property's value. The appraisal fee for such services is quickly recovered by the absence of the recurring monthly PMI payment.


The issue of dissolution of marriage involves the division of equity accumulated in any real property owned by a couple during the course of their marriage. This property is typically referred to as community property and thus divided equally based on the value as of the date of the divorce. In some situations multiple appraisals may be required for properties that were individually owned prior to the marital union, and are therefore not subject to division. However, the determination of any accrued equity, which is considered community property, is subject to division. In situations such as this, a retrospective appraisal of the real property, as of the date of marriage, as well an appraisal as of the date of divorce would be required.


Although times of loss are difficult, various steps must be taken in order to resolve outstanding monies and the distribution of an real property of the deceased. An appraisal is required to establish fair market values of any real estate properties in the estate for tax purposes and presentation to surviving/multiple heirs. TRUSTS - Properties placed in trusts often require periodic appraisals for legal accounting purposes. ESTATES - Retrospective appraisals, (valuation as of the date of death) are required for estate/tax reporting purposes. Commonly used automated valuation modules (inaccurate online services) do not provide this type of valuation. INHERITANCE - Disagreements over distribution of assets may require unbiased appraisals to determine an accurate assessment of the assets in question.


Liquidation of assets or debt consolidation may by options in times of financial hardship. Appraisal of assets may be required to determine current value of real property assets.


When the central issue of a legal discrepancy is the value of a given property, an appraiser may be required to testify in order to explain and/or defend an opinion of value. Common disputes that may require expert witness services may include: Divorce - Fraud - Eminent Domain - Condemnation - Negligence - Contamination - Stigma - Termination of Partnership - Estate - Taxation


In the development of legal strategy, attorneys may require the expertise of a qualified appraiser to educate then on the appraisal process and assist in the formulation of precise questions to present the strengths of their position and expose any potential weaknesses in opposing counsel's position in a legal dispute.


For a property in foreclosure, owners, banks or mortgage lenders need to know the difference between fair market value and "quick disposition" value, to determine the potential equity position or charge-off liability. The appraisal must represent the value of the real property "As Is" and "As if Complete".

Mortgage Finance

An appraisal is an unbiased opinion of valuation commonly used by mortgage lenders to verify a property's worth within the market area of a particular property for prospective financing purposes. The mortgage industry relies upon qualified independent real estate appraisers to guide them in their financing decisions.

For-Sale-By-Owner (FSBO) / Pre-Listing Services

It's very hard to be objective about your own home because of your emotional attachment to it. A Professional Appraiser is objective and will tell you what you need to know, not just what you want to hear. In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal is very valuable as a negotiating tool once you have a potential buyer. It gives you something concrete to show your buyer. It's an independent third party's opinion of your home's value, and not just you saying how much your home is worth. Potential buyers know you have an emotional attachment to your home and will be far more likely to give credibility to a professional appraiser's value opinion than yours.

Field and Desktop Appraisal Review Services

Have you just received a copy of your appraisal and you'd like to have a professional "double-check" it for accuracy or do you need a second opinion without the expense and delay of waiting for a whole new appraisal?

  1. Appraisal Field Reviews: We'll check your appraisal for accuracy and provide exterior "field inspections" of the subject and comparable properties for maximum appraisal certainty. Perfect for any situation demanding a second opinion on value.

  2. Appraisal Desk Reviews: In a hurry and just want to "double-check" the facts? We'll use our extensive Internet research capabilities and office files to deliver reviews with the highest degree of precision in the industry.

The Federal Reserve has recently reiterated that "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at James Dunn, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Fed says.They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment."The Fed also notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at James Dunn, we are experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.

We understand what makes a quality appraisal and what the most common deficiencies are, especially in our home market. At the same time, we are professional enough to recognize that our competitors in our market are capable of doing a good job! The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to ethically evaluate appraisal reports performed by others.

In short, here at James Dunn, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Browse our website to learn more about our qualifications, expertise and services offered.