- As 2014 comes to a close, the Christmas Trees are being taken down and kids and college bound start to think of returning to the winter grind, Fannie Mae has decided the January 26th of 2015 will be a great day to start to use the "Collateral Underwriter". This new process will take appraiser generated reports to a new level of scrutiny including comparable properties ranked by risk based on Fannie Mae's proprietary algorithms. This system will include up to 20 comparable properties within a considered appropriate and competing "area or neighborhood" and question the original appraiser's experience of why what comparable properties were used (or not used). This system, I am sure, will be tested in our part of this rock we call home but overall I am sure it will make all standardized reports more credible and we here at Appraisal Associates of Marquette are looking forward to the challenge. As far as the local market, things are still pointing toward a very prosperous near future with many projects still in the works or noted as being already started. As we flip the final page of the calendar, all indications are that 2015 will be a great year and here is hoping this blog finds you all healthy and happy.
George Edward "Ed" Dempsey is the owner and Certified General Appraiser of Appraisal Associates of Marquette. He has been appraising real estate since 1989 and sold prior to that date. Ed is a father to five great kids, husband to wife Mikki and loves the great outdoors the Marquette area has to offer. Ed specializes in commercial but always loves a challenging residential, recreational or multifamily property.