NAR Goes to Capitol Hill on Appraisals for VA Home Loan Program

It’s no secret that a professional appraisal is key to getting a clear understanding of the home purchase. It’s an important part of ensuring that buyers pay a fair price for their new home, and buyers who utilize the Department of Veterans Affairs’ Home Loan Guaranty Program are no exception.

Realtors® took to Capitol Hill today to champion the good work happening at the VA, but also to warn Members of the House Committee on Veterans Affairs of the challenges facing appraisers who serve the Home Loan Guaranty Program.

Michelle Bradley, Immediate Past Chair of the National Association of Realtors® Real Property Valuation Committee, testified before the HVAC’s Subcommittee on Economic Opportunity to offer her expertise as a state-certified general real property appraiser. She told Members of the Committee that despite the good work happening within the program, regulatory burdens remain that need attention.

“America’s veterans have been well-served for years by VA’s appraisal system, and professionals in the business should be proud of their good work,” Bradley said. “Unfortunately, that system is under tremendous pressure today.”

For over 70 years, the VA Home Loan Guaranty Program has served veterans and active duty service members with zero-down payment options and by encouraging private lenders to offer favorable terms on home loans.

Veterans made up 18 percent of homebuyers in a recent NAR survey, with over half of those buyers turning to a VA loan to finance their home purchase. That means getting the program right is important, but Bradley pointed out a number of impediments to continuing the current level of service.

“What we’ve found is that, among appraisers, there’s a real reluctance to work with the VA,” Bradley said. “Generally, appraisers are dissatisfied with the level of compensation they’re receiving for their work. It’s also harder than ever for trainees to enter the field, not just within the VA system but across the industry, which only adds to the perception of an appraiser shortage. This overall regulatory burden is a significant issue, and we have to turn things around.”

Despite these  challenges, Bradley sounded optimistic as she faced the Committee.

“What we have today isn’t perfect, but it’s an important part of ensuring veterans and active-service members are protected when using a VA home loan,” Bradley said. “NAR looks forward to working with the VA and Members of Congress to improve this system in the years to come.”

For more on the subject, NAR recently released fresh survey data from over 2,000 appraisers within the industry. That’s available online here: http://narnewsline.blogs.realtor.org/2017/03/16/appraiser-survey-shows-challenges-remain-for-practitioners/

If you’re a veteran considering purchasing a home give me a call for more information about the VA loan program – J.P. Cook – 602-320-4253.

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5648 W Chuck Box Road Laveen, AZ 85339

$524,010

4 Beds

3 Baths

2,373 SqFt

Status Active

MLS # 6702573

Property Type Single Family Residence

Price Type --

Up to 3% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6702573 June Completion! The Erikson floor plan within the Tierra Montana Discovery Collection epitomizes the essence of open concept living. The first floor serves as the focal point of the residence, featuring a generous gathering room, casual dining space, and an open kitchen. The designer kitchen boasts a large island and a convenient step-in pantry, adding functionality and style. At the front of the home, a downstairs guest bed offers a welcoming sanctuary for overnight visitors. The owner's suite is upstairs with a private bath and a spacious walk-in closet. Completing this home is a loft, two additional beds, a full bath, and laundry room. Structural options include: extended covered patio. Design upgrades include: quartz kitchen countertops, gourmet kitchen with gas cooktop, upgraded stair rail and upgraded flooring throughout.

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26168 W Tina Lane Buckeye, AZ 85396

$524,000

2 Beds

2 Baths

2,323 SqFt

Status Active

MLS # 6668177

Property Type Single Family Residence

Price Type --

This STUNNING 2 Bed plus DEN, 3 CAR GARAGE (plethora of garage Cabinets) *PAID OFF SOLAR* home with a private courtyard, offers a perfect blend of modern living and timeless charm. Nestled in the desirable neighborhood of Sun City Festival with a N/S position. This Popular Fiesta floor plan offers an open-concept layout with 10ft ceilings, plantation shutters and creates an inviting atmosphere for both entertaining and everyday living. Tile flooring for easy care. The heart of the home is a spacious gourmet kitchen with beautiful Granite countertops/backsplash and sizeable island. The elegant wood cabinetry with crown molding elevates the space! The Gas cooktop stove is a Chef's delight! A large pantry for extra storage! Sit in the Breakfast nook area and enjoy the morning sunshine! The generously sized Master retreat features double door entry, plush carpeting, two tone paint and sliding glass doors that lead to a tranquil backyard! Embrace a morning coffee on the back patio surrounded by a peaceful ambiance that enhances every moment. No need to be concerned about electric bills, home has Solar and its *Paid Off*!! Surround sound is included for your entertainment needs. This home has been meticulously maintained! Check out this gem before its gone!

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40829 W Robbins Drive Maricopa, AZ 85138

$524,000

5 Beds

3 Baths

3,047 SqFt

Status Active

MLS # 6696775

Property Type Single Family Residence

Price Type --

1st floor bedroom with full bathroom! NEWLY REMODELED KITCHEN w/ upgraded 42'' & extra deep cabinets w/ soft close & pull-out shelves, new RO, granite, SS appliances, new Luxury Vinyl Plank flooring, new paint downstairs, new toilets in all bathrooms, new 50-gallon water heater, new water softener, new garage cabinets & hanging racks in oversized 3-car garage. 2 new 4-ton 15.2 SEER2 AC Units w/ 10-year service agreement & 5-year extended labor warranty is transferrable to new owner. The backyard is the perfect spot to relax & entertain w/ extended patio, pergola & PebbleSheen Play Pool (chlorine) w/ multi-colored LED Light - perfect for an event! With 5 bedrooms, 3 bathrooms & a loft, this home is well-equipped to accommodate living & entertaining guests. Come see this amazing house today!

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30029 N 120th Lane Peoria, AZ 85383

$524,000

4 Beds

3 Baths

2,537 SqFt

Status Active

MLS # 6651707

Property Type Single Family Residence

Price Type --

MASSIVE PRICE REDUCTION - LOWEST COST/SQ. FT. IN THE COMMUNITY! BUY THIS HOME TODAY! Nestled in the stunning Sonoran Desert, our vibrant multi-generational community encourages an active lifestyle with top-notch amenities and engaging programs. This impeccable 4-bed, 3-bath home boasts updated wood floors, neutral tones, and a sunlit ambiance. The spacious kitchen features stainless steel appliances and a loft adds extra space. The backyard is a lush oasis with meticulous landscaping, a pool, and a captivating rock waterfall—an ideal retreat for relaxation and social gatherings. Close to schools, shopping, and Lake Pleasant, this home offers an authentic living experience, harmonizing with the desert's beauty and fostering a strong sense of community.

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40887 W Chambers Drive Maricopa, AZ 85138

$524,000

5 Beds

3 Baths

3,295 SqFt

Status Active

MLS # 6674847

Property Type Single Family Residence

Price Type --

Welcome home! This spacious home features 5 bedrooms, 3 bathrooms and a generously sized loft. The kitchen boasts granite countertops, stainless steel appliances, a butler's pantry and opens to the living room. The formal dining room provides elegant space for hosting large meals and special occasions. There is a bedroom and full bathroom downstairs. Upstairs you'll find a sizable primary bedroom with a large bathroom, and an amazing walk-in closet. The three remaining guest bedrooms are also upstairs, one of which has a walk-in closet. The RV gate is on the east side of the home. Indulge in your own private pool during the hot summer months. Located in a serene lake and golf course community, this residence offers ample space and luxury amenities for comfortable living and entertaining.

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1855 W Dion Drive Anthem, AZ 85086

$524,000

2 Beds

2 Baths

1,830 SqFt

Status Active

MLS # 6696695

Property Type Single Family Residence

Price Type --

Popular Durango model home in sought after Anthem Country Club. Home boasts open split bedroom floor plan with the largest bedroom having direct access to the back yard and patio. 2 bedrooms plus a 3rd room that can be used as den/bedroom. The front of the home has a charming courtyard entry with a fountain. Home improvements include updated kitchen and bathrooms with quartz countertops and GE Slate appliances in the kitchen. Additionally, the HVAC was replaced in 2020 and the interior and exterior of the home has been recently painted. Improvements also include LVP flooring throughout the main living area, Shade Store blinds on the patio doors, newer bedroom carpet, and epoxied garage floors. All rooms have updated ceiling fans, four inch baseboard, and new door and cabinet hardware. The outdoor lighting and irrigation piping have been replaced and the home has an H2o Concepts whole-house water filtration system. Resort style living at its best!

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3955 E Wethersfield Road Phoenix, AZ 85032

$524,000

3 Beds

2 Baths

1,684 SqFt

Status Active

MLS # 6688659

Property Type Single Family Residence

Price Type --

Nostalgic beauty with a beautifully updated interior offers the perfect mix of traditional comfort & modern functionality! Discover a corner lot with a low-maintenance front yard, a 2-car garage, and an extended driveway. Be captivated by the immaculate open floor comprised of trendy wood-look flooring & recessed lighting. The kitchen showcases white shaker cabinetry, tile backsplash, SS appliances, and quartz counters. The large family room has sliding glass doors to the backyard. The primary bedroom has exterior access, a walk-in closet, and a pristine bathroom with a floor-to-ceiling tiled shower. Plush carpet, dual pane windows, and upgraded ceiling fans are features that cannot be left unsaid. The huge backyard allows endless potential for your own desert oasis. Hurry to see!

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1161 N Nebraska Street Chandler, AZ 85225

$524,000

3 Beds

2.5 Baths

1,900 SqFt

Status Active

MLS # 6693876

Property Type Single Family Residence

Price Type --

Looking for a place to entertain your friends and family? This 1900sqft home is equipped with a 2car garage plus a separate 850sqft 4 car garage w/ Insulation, AC, heating, plumbing, 240V RV outlet plus 2-220V outlets and a bathroom! Spacious quarter acre lot provides plenty of room for gatherings w/ Alleyway Access. Step inside you'll find a Newly upgraded kitchen with a $5k Italia Bertazzoni Gas Range a $4k stainless steel Hood!! New granite counters, new windows, Primary shower custom tile with a Jacuzzi Tub, roof 4 years old. Professional dart board, pool table and 7k speaker system. Hot tub in back yard with Tree House! Come see today!

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3931 E Vaughn Avenue Gilbert, AZ 85234

Open House

$524,000

3 Beds

2 Baths

1,528 SqFt

Status Active

MLS # 6662208

Property Type Single Family Residence

Price Type --

Welcome to this charming property, where a natural color palette creates a soothing ambiance throughout. The kitchen boasts a nice backsplash, adding a touch of elegance to the heart of the home. With other rooms available for flexible living space, you'll have plenty of options to customize the layout to suit your needs. The primary bathroom offers a separate tub and shower, perfect for unwinding after a long day. Double sinks and good under sink storage make this space both practical and stylish. Step outside to a fenced-in backyard, complete with a private in-ground pool for endless aquatic enjoyment. An inviting covered sitting area provides ideal spot for relaxation. Additionally, fresh interior paint and partial flooring replacement in some areas ensure a well-maintained atmosphere.

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17588 W Running Deer Trail Surprise, AZ 85387

$523,995

3 Beds

2 Baths

1,690 SqFt

Status Active

MLS # 6699916

Property Type Single Family Residence

Price Type --

Explore this inspired Bronze home, ready for an Augist move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: an inviting covered entry; an open dining area; an impressive kitchen offering quartz countertops, stainless-steel appliances, 42'' cabinets, a walk-in pantry and a center island; a spacious great room; an elegant primary suite showcasing an expansive walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a relaxing covered patio; an RV garage and a 2-car garage. This home also offers additional windows, ceiling fan prewiring and stone tile flooring in select rooms.

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5923 N 194th Avenue Litchfield Park, AZ 85340

$523,990

3 Beds

2.5 Baths

2,229 SqFt

Status Active

MLS # 6649803

Property Type Single Family Residence

Price Type --

This quick move-in Irwin home features a covered porch and patio, perfect for taking in the mountain views. A highly desired homesite located near the community park. The spacious secondary bedrooms also have private access to a shared bathroom. A natural gas kitchen package is perfect for the culinary enthusiast in your life. Additional highlights includes 8'' interior doors, and 3 1/4'' baseboard throughout ILO standard for an added elevated touch. Located within the IronWing masterplan, offering breathtaking mountain views and top-notch amenities. Our homeowners enjoy walking trails, and a community park.

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30909 N 164th Street Scottsdale, AZ 85262

$523,900

3 Beds

2 Baths

1,746 SqFt

Status Active

MLS # 6508762

Property Type Single Family Residence

Price Type --

Wake up every morning to breathtaking panoramic Mountain Views in Northeast Scottsdale!!! Your BRAND NEW energy efficient three bedroom home on OVER ONE ACRE with plenty of room for additional structures and toys awaits. Buy NOW and select all your interiors from the builders included options or go semi-custom. No HOA! This exclusive area is growing fast. Be one of the first to take pride in ownership in it! Reach out to your realtor or the listing agent today to schedule a private walk of the property and meet the builder. Addt'l plans avail. Renderings are representation of elevation. Options displayed may vary. Advertised plan can be customized to add or subtract square footage. Street address listed may differ once assigned. Refer to APN.

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