Bay Mountain Appraisal
Our goal is to deliver the highest quality appraisals for our clients to empower them to make smart business decisions. We take special pride in our ability to provide coherent, concise reports with both speed and precision.
With you in mind
We are an appraisal management company that guarantees a superior level of customer service, in-house quality assurance, and timely delivery of services to local and statewide mortgage lenders, banks, credit unions, as well as private clients.
A Green Company
We strive to be a “green” business by conducting transactions utilizing Global DMS Etrac, a web-based order tracking system for access to 24/7 status updates and electronic report delivery in support environmental conservation efforts.
What Sets Us Apart
To set us apart from our competition Bay Mountain Appraisal, LLC ensures quality work from industry professionals, expedited delivery of services, and consistent friendly communication provided at all client levels. When you conduct business with the best in the industry you can anticipate we will surpass your expectations.
What We Offer
Bay Mountain Appraisal provides all traditional Fannie Mae form residential appraisal products required for Conventional and FHA mortgage lending with services available throughout CA.
1004: Uniform Residential Appraisal Report
1004C: Manufactured Home Appraisal Report
1004D: Appraisal Update and/or Completion Report
1004MC: Market Conditions Addendum to the Appraisal Report
1025: Small Residential Income Property Appraisal Report
1073: Individual Condominium Unit Appraisal Report
1075: Exterior-Only Individual Condominium Unit Appraisal Report
2000: One-Unit Residential Appraisal Field Review Report
2000A: Two- to four-Unit Residential Appraisal Field Review Report
2055: Exterior-Only Inspection Residential Appraisal Report
1007: Single Family Comparable Rent Schedule
216: Operating Income Statement
2006: Desktop Evaluation
Ask us about expedited delivery options
Bay Mountain Appraisal was established to provide a standard of excellence in the residential real estate appraisal field. While remaining in compliance with all UAD and USPAP guidelines our company focus is on quality, consistency, and professional communication.
Underlying every successful cooperative business venture is mutual trust between the parties involved. Our client focus is reinforced by enduring relationships. We value the loyalty we have built with our clients and support business successes they have achieved.
- HUD Handbook 4150.2 – Valuation Analysis for Single Family One- to Four- Unit Dwellings
- HUD Mortgagee Letters
- Fannie Mae Appraisal Resources
- asc.gov – Appraisal Subcommittee – Oversees the appraiser regulatory programs established by individual States
- GoogleEarth.com – A satellite-imagery mapping product providing street level property views.
- FHFA.gov – Official site of the Federal Housing Finance Agency, which tracks and reports the House Price Index (HPI), a scale for determining rising and declining values by geographic location.
- Single Family Home Appraisals 70%
- Condo Appraisals 25%
- Multi-Unit Appraisals 4%
- Desk Reviews 1%
Myth: Market value should approximate replacement cost.
Reality: Market value is based on what a willing buyer likely would pay a willing seller for a particular property, with neither being under pressure to buy or sell. Replacement cost is the dollar amount required to reconstruct a property in-kind.
Myth: An Appraisal is the same as a home inspection.
Reality: An Appraisal does not serve the same purpose as an inspection. The Appraiser forms an opinion of value in the Appraisal process and resulting report. A home inspector determines the condition of the home and its major components and reports these findings.
Myth: You generally can tell what a property is worth simply by looking at the outside.
Reality: Property value is determined by a number of factors, including location, condition, improvements, amenities, and market trends.
Frequently Asked Questions
The Importance Of A Professional Real Estate Appraisal
A lot of first time home buyers have a lot of questions. Here is a list of some of the more frequently asked question that we get. If there is a question that you have that’s not listed here, please contact us, and we would be happy to speak with you!
Is an Appraisal Necessary?
Because much private, corporate, and public wealth lies in real estate, the determination of its value is essential to the economic well-being of society. It is the job of the professional appraiser to determine these values by gathering, analyzing, and applying information pertinent to a property. Unquestionably, the professional opinion of the appraiser, backed by extensive training and knowledge, influences the decisions of people who own, manage, sell, purchase, invest in, and lend money on the security of real estate. And because the appraiser is trained to be an impartial third party in the lending process, this professional serves as a vital “check in the system,” protecting real estate buyers from overpaying for property as well as lenders from over lending to buyers.
What is your turn around time?
The physical inspection of the real property being appraised can take from approximately fifteen minutes to several hours, depending upon the size and complexity involved. After the initial inspection of the property the appraiser spends time touring through the neighborhood and surrounding area. The purpose of this tour is to research comparable sales (other properties that are similar to the property being appraised) that have sold within the last six months. When the field work is complete, the appraiser drafts the official report. The report can consist of a short form report (typically under ten pages) to a long narrative report which can sometimes exceed thirty pages. A short form report usually takes between 24-48 hours to complete. A full appraisal narrative report can take 72 hours to a week after property inspection to complete, depending upon the complexity of the assignment.
Where does the appraiser get their information?
The appraiser gets his or her information from a wide variety of sources, including Multiple Listing Service MLS, local tax assessors records, county courthouse records, property public record data, contractors, interviews with home owners, appraisal data co-operatives and his or her own personal knowledge from previous appraisals. The quality and reliability of each piece of information is considered by the appraiser.