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.

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“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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10110 E Siesta Lane Scottsdale, AZ 85255

$9,000,000
4 Beds
5.5 Baths
7,100 SqFt
Status Active
MLS # 6575666
Property Type Single Family Residence
Price Type --
Welcome to a realm of unparalleled luxury and sophistication in the renowned Silverleaf community. Situated on an expansive corner lot, this magnificent residence offers a grandeur that is simply unmatched. From the moment you step inside, you are greeted by a vast open plan living, dining, and kitchen area that seamlessly integrates with the breathtaking views of the glistening pool and majestic mountains beyond. The high ceilings, adorned with lighting, add a touch of elegance, and create an ambiance of refined opulence. Prepare to be captivated by the culinary masterpiece that awaits in the kitchen. Boasting two convection ovens, two steam ovens, gas burners, and a built-in Miele coffee machine, this kitchen is a haven for any culinary enthusiast. The stunning quartz ... MORE countertops and the expansive island with seating for five provide the perfect setting for both casual family meals and lavish entertaining. Every aspect of this kitchen has been thoughtfully designed to elevate your culinary experiences. As you enter the living room, your eyes are drawn to the striking feature wall and the inviting fireplace, creating a focal point that exudes both style and warmth. The indoor-outdoor wet bar, complete with a beverage cooler and icemaker, effortlessly serves both the living room and the backyard, ensuring that refreshments are always at your fingertips. Whether you are entertaining indoors or embracing the Arizona lifestyle outdoors, this home seamlessly blends the boundaries between indoor and outdoor living. Indulge in the ultimate entertainment experience in the exclusive personal retreat, where luxury knows no bounds. This private haven boasts a fully equipped bar, plush theater seating, and wine storage, all while providing a unique view through fire-rated glass to the climate-controlled garage. The garage, featuring car lifts, can accommodate up to six cars and is a car enthusiast's dream. Additionally, a workshop and a built-in safe add to the functionality and convenience of this remarkable space. A second garage, with space for four cars, ensures that all your automotive needs are met. Escape to the lavish owner's suite, a sanctuary of tranquility and indulgence. With direct access to the pool and backyard, this retreat offers a seamless transition between indoor and outdoor living. The large bathroom features sparkling granite countertops, dual sinks, an outdoor shower, and a spacious wraparound closet with a direct connection to the large laundry room and dog run. Every detail has been considered to create a space that is both luxurious and practical. Guests will be treated to utmost comfort and privacy, with a main floor guest ensuite offering access to a serene private courtyard, and two additional guest ensuites located on the second floor. The second floor also features a generous office space, a versatile landing area that provides flexibility, and a large balcony adorned with a hot tub, bathroom, refrigerator, sink, and TV. This outdoor oasis is the perfect retreat for relaxation and entertainment, where you can unwind while enjoying the breathtaking vistas that surround you. As you step into the backyard, you are met with a resort-style paradise that redefines outdoor living. Three firepits create enchanting settings for cozy gatherings, while multiple TVs and seating areas provide endless entertainment possibilities. The synthetic turf adds a touch of luxury, and the outdoor kitchen allows for fabulous al fresco dining. Luxury is taken to new heights with additional features like electric shades and speakers both inside and out, always ensuring the perfect ambiance. Outdoor heaters provide comfort during cooler evenings, allowing you to savor the beauty of the surroundings regardless of the season. This luxurious estate in the renowned Silverleaf community is a masterpiece of design, craftsmanship, and innovation. Offering an unparalleled blend of sophisticated living spaces, state-of-the-art amenities, and breathtaking outdoor areas, this residence is an oasis of elegance, privacy, and tranquility. Come and experience the pinnacle of luxury living in this remarkable residence, where every element has been thoughtfully curated to create an extraordinary lifestyle for the most discerning homeowner.

42486 N 109th Place Scottsdale, AZ 85262

$9,000,000
5 Beds
10 Baths
12,825 SqFt
Status Active
MLS # 6671996
Property Type Single Family Residence
Price Type --
FIRST TIME ON THE MARKET! Step into one of the loftiest residences in North Scottsdale! This European Style Estate, envisioned by renowned architect Bing Hu and brought to life by Shiloh Homes, nestles into a private hillside with the National Forest as its expansive backyard. Experience the epitome of privacy and serene living on over 2 acres, crafted with steel and concrete, tucked away in the secluded village of Sunset Canyon. Marvel at the extraordinary, rare views that span from sunrise to sunset, capturing city lights and everything in between! The residence boasts a primary bedroom, three ensuite bedrooms with a private sitting area and bar, two offices, a home theater, two wine cellars, ten bathrooms, and a guest house with a separate entry. FULL GOLF MEMBERSHIP AVAILABLE. Welcome to a haven of luxury, views, and unparalleled craftsmanship! Custom finishes abound, including vaulted and beamed ceilings, seven fire places, and two charming fire pits. Step into an exquisite culinary dream kitchen with dual islands, three farm sinks, three dishwashers, and a spacious butler's pantry. The home also features both a staircase and a stunning elevator, providing access to every level of the house!

38824 N Charles Blair Macdonald Road Scottsdale, AZ 85262

$8,999,000
5 Beds
6.5 Baths
8,000 SqFt
Status Active
MLS # 6506635
Property Type Single Family Residence
Price Type --
Plans underway for this spectacular home designed by Kontexture and to be built by Silvercreek Development. Situated on a ridgetop lot in North Scottsdale guard gated community of Carefree Ranch Estates, this 8,000 square foot home features the latest and greatest in modern desert living with an emphasis on biophilic design. 5 bedrooms including guest house, plus office, and private master bedroom lounge. Spa like dual master bath with free standing tub, oversized shower with views of Desert Mountain Golf course and Pinnacle Peakand dual walk-in closets. HUGE great room with chef's kitchen, butler's pantry, top of line appliances, all spilling to the outdoors via walls of glass for indoor and outdoor entertaining needs. The outdoors includes 2,000+SF elevated terrace with outdoor kitchen, dining and living spaces, along with a zero and negative edge pool, spa, fire features for your outdoor entertaining needs. Elevated 4.36 acre site towering over the valley of the sun! Absolute privacy from this lofty perch overlooking tremendous city light, blazing sunsets, Desert Mountain Golf course views and surrounding mountain views of Black Mountain, Pinnacle Peak, Four Peaks and Camelback Mountain and the entire valley floor. Rough graded driveway in place. Highly-desired southernorientation provides maximum winter sun exposure on patio and pool areas. Private and tranquil for hiking and biking, yet quick access into Scottsdale, Carefree, Cave Creek for shopping, dining and golfing! Minutes from Skyranch private airport with available hanger space. Please inquire for more information or to review the plans on this spectacular estate home! Renderings are conceptual and square footage is estimated. Some finishes/features may change based on availability or buyer's preferences. Builder is happy to meet with buyers to discuss specific finish selections to meet individual needs.

6623 N Hillside Drive Paradise Valley, AZ 85253

$8,995,000
4 Beds
4.5 Baths
5,035 SqFt
Status Active
MLS # 6655861
Property Type Single Family Residence
Price Type --
VIEWS, VIEWS, VIEWS!! BRAND NEW CONSTRUCTION - ESTIMATED COMPLETION OCTOBER 2024. Located in prestigious Paradise Valley- a Modern showpiece, offering serene privacy and stunning views of Camelback Mountain. This paradise sits on over an acre with luxurious finishes and carefully curated design elements. After being greeted outside by a beautiful terraced entry, fire feature and custom metal screening- you are welcomed into the great room with 12-foot ceilings, a cantilevered fireplace and an impressive 25-foot pocket door. Custom cabinetry throughout the home, designer lighting, custom wood ceiling details and hand-picked stone selections showcase the elevated design. A generous chef's kitchen with Wolf/SubZero appliance suite is supported by the secondary kitchen- perfect for when you are hosting large events. The main kitchen looks out over the sitting room, living room, outdoors to the pool, spa, outdoor kitchen, bar and expansive covered patio space. Constructed using cast in place concrete - this complex build technique allows for minimal rooflines and maximum viewpoints out of all windows. The attention to detail from the land up is exquisite. This masterpiece home is not one to be missed... who doesn't want to own their own little piece of paradise?

4723 E Desert Park Place Paradise Valley, AZ 85253

$8,995,000
5 Beds
5.5 Baths
7,351 SqFt
Status Active
MLS # 6471627
Property Type Single Family Residence
Price Type --
Brand new construction! Just completed in collaboration between Tiara Sun Development, Chavez AIA and Ashley Luxury Design. This spectacular home sits on over an acre and offers sweeping views of Camelback, Mummy Mountain and Phoenix Mountains Preserve. The single-level floor plan features five ensuites with a split primary wing, wide open great room made for entertaining, premier finishes and flooring throughout, multiple private courtyards, separate office and bonus/flex room. The primary bathroom boasts a steam shower, soaking tub, separate his/her closets and additional laundry. The gourmet kitchen showcases luxury appliances, custom finishes, walk-in pantry and adjacent wine wall in close proximity to the formal dining. The oversized back patio opens to a dream backyard with stunning views, negative-edge pool and spa, courtyard with fireplace, putting green, built-in barbecue, pet-engineered turf section, lower patio with firepit, and a spacious grass area that can fit a sport/Pickleball court. Four garage spaces with room for a lift and temperature-controlled workshop complete this home. Located in close proximity to premier resorts, golf courses and all that Paradise Valley and Scottsdale have to offer. Paradise Valley, Arizona, is a charming town renowned for its exclusive estates, luxury resorts, and stunning desert vistas, framed by Camelback Mountain and Mummy Mountain. Just minutes from Phoenix, the town offers a refined lifestyle with opulent homes, upscale retreats, golf courses, and spa resorts. Strict zoning regulations underscore Paradise Valley's commitment to preserving its natural beauty, creating a harmonious blend of sophistication and the Sonoran Desert environment. This idyllic oasis stands as a testament to the town's unique fusion of luxury living and breathtaking landscapes.

4975 E Mcdonald Drive Paradise Valley, AZ 85253

$8,995,000
4 Beds
6 Baths
6,730 SqFt
Status Active
MLS # 6310072
Property Type Single Family Residence
Price Type --
Nestled at the base of Camelback Mountain, the Echo Canyon Residence is situated on an acre of pristine hillside property with views across Paradise Valley, Mummy Mountain, and the Phoenix Mountain Preserve. It is a Design/Build by award-winning architects The Construction Zone, ltd. Gated access to a private drive lead to the home and up to a 3-car garage and guest parking. This home is currently in the permitting process and will start construction early 2023. The 5970sf residence is organized around a secluded courtyard featuring a pool, built-in spa, and outdoor living spaces, perfect for entertaining. The main house great room connects the courtyard to a balcony overlooking the city, with custom steel and glass floor-to-ceiling windows and oversized sliding doors on both sides. The main wing of the house also includes the primary suite, a second full bedroom suite, private office, butler's pantry and an elevator. The south wing contains a large fitness room and bath, a game room with bar and seating, and a full guest house with a private entry. This house is to be exquisitely crafted throughout and with custom steel detailing, finely crafted millwork, exposed board formed concrete walls, and stone floors throughout. Don't miss the opportunity to make this house your home.

6216 N 38th Place Paradise Valley, AZ 85253

$8,995,000
5 Beds
7 Baths
11,097 SqFt
Status Active
MLS # 6647587
Property Type Single Family Residence
Price Type --
This glamorous estate is for those who appreciate artistic modern design coupled with classic elegance. Beyond the private gates sits a home loaded with sophistication and architectural excellence. The entry is accented by a copper clad pivot door that leads to exquisite living spaces. The kitchen features two twelve-foot islands, cabinetry imported from Spain, Wolf and Subzero appliances and a morning bar with built-in Miele coffee station. The entertaining areas are refined, yet comfortable and the flow of the home is flawless. The magnificent primary suite has floor to ceiling windows that frame views of Camelback Mountain spanning all the way to downtown Phoenix, and the primary bath will take your breath away. A 500-bottle wine room, 3-tiered movie theater, junior suite with an aromatherapy steam shower that would make a perfect home gym, wide plank oak floors with quartz inlays, marble and quartz accents, exceptional custom cabinetry, fully retractable walls of glass, custom ceilings, and opulent lighting are just a few of the exquisite design features inside, and the outdoor living is an absolute dream with a beautiful pool surrounded by sandblasted marble pavers, and a large yard with synthetic turf. The fully loaded Crestron home automation system includes lighting controls, security cameras and audio, both inside and out, and the driveway can accommodate up to 20 cars. This contemporary showpiece sits on 1.36 acres in a prominent Paradise Valley neighborhood!

6836 N 36th Street Phoenix, AZ 85018

$8,950,000
3 Beds
3 Baths
3,095 SqFt
Status Active
MLS # 6507389
Property Type Single Family Residence
Price Type --
The ''Circular Sun House'' was designed by Frank Lloyd Wright and was his final architectural design, and known as the Norman Lykes House. 3 beds + office + den + Library. Designed to blend in with the curves of the surrounding desert mountain, this iconic masterpiece was the last home designed by Wright and one of only 14 circular homes by the master architect. Overlapping concentric circles create a floorplan that flows seamlessly from one room to another while every room takes in unobstructed majestic views of Palm Canyon and the city below. Curved walls, clad in golden-hued Philippine mahogany cover the three bedrooms and hallway, reflecting the natural light of Palm Canyon. Sprawling entertaining spaces flow outside to ample patios and a crescent-shaped pool. In Architectural Digest! Three bedrooms PLUS library, plus den could be 4th bedroom and office that sits atop the home.

11612 N 86th Street Scottsdale, AZ 85260

$8,950,000
7 Beds
8 Baths
8,587 SqFt
Status Active
MLS # 6576591
Property Type Single Family Residence
Price Type --
Introducing the pinnacle of luxury, privacy and security: Elysium, designed and built by Modern Masterpieces. Offering soaring 14' ceilings, rooms carved from natural stone and wood, solid wood frameless pivot doors, electronic color changing smart glass sliding walls - this home redefines luxury living. Features three professional kitchens in the highest spec by Gaggenau and Thermador, a Dolby ATMOS 4K movie theater, and unprecedented amenities like a smart glass cube room, 4 exotic car museum garage, over 2,500sqf full tile pool, spa, firepit and swim-up restaurant, double RV parking, and glass basketball court. US military spec nuclear threat resistant security room with state of the art surveillance. Glass railing bridge lush garden entry secured by electronic gates ensures privacy

10134 E Cavedale Drive Scottsdale, AZ 85262

$8,750,000
5 Beds
5.5 Baths
5,864 SqFt
Status Active
MLS # 6569946
Property Type Single Family Residence
Price Type --
Remarkable views from every room of this architecturally stunning new home. Disappearing electric Walls of Glass surround the Great Room to soak in views and feel the desert breezes. Main house has 3 ensuite bedrooms + an office and wine room. The home is oriented toward mtn peaks and rock formations which provide privacy. Hickory floors and ceilings; Ebony, Bolivian Rosewood, and Walnut cabinets; and custom Walnut doors throughout. The casita has 2 units with separate entrances (a guest house + a bonus room). Both are ensuite. Everything is one level. Electric sun shades thru-out the house and blackout shades in main bedrooms. Oversize 4 car garage. Built with exquisite quality by builder who has won numerous awards including National Home of the Year for his last home, also in Estancia. Taliesin West trained Architects. This home must be seen to be appreciated! Seller is willing to credit Buyer the cost of an Estancia Social Membership.

9316 E Aw Tillinghast Road Scottsdale, AZ 85262

$8,500,000
3 Beds
3 Baths
5,700 SqFt
Status Active
MLS # 6583092
Property Type Single Family Residence
Price Type --
NOW STAKED & FLAGGED! An incredible 5 acre homesite opportunity to build a 5,700 SF residence with 3 beds, 3 baths & elevated to capture breathtaking views. You may further reimagine this home to perfection; customize it for your lifestyle. This is a very private location with views overlooking golf courses, serene mountain ranges, & stunning Desert Mountain lights that bring enchanting beauty to the environment both day & night. The Ranch & Trails provide hiking & a preserve that borders the 3 million acre Tonto National Forest. Convenient, DUAL access is available through Carefree Ranch, cutting access time in half. For an exclusive 10 acre homesite, see MLS 6583078, the adjacent 5 acre lot to the East. A membership is not included with this offering. Contact Desert Mountain Membership

29211 N 53rd Street Cave Creek, AZ 85331

$8,500,000
6 Beds
5 Baths
5,966 SqFt
Status Active
MLS # 6609693
Property Type Single Family Residence
Price Type --
Bellisima Equestrian Estate has 25+ acres, city water, paved roads, & one of the most desirable locations for horse Training, Boarding or Breeding Facility in the Valley. This Equestrian Estate offers three well-appointed homes, perfect for multi-generational living or rental income potential. The main home, a luxurious retreat, features a sparkling pool, outdoor living space, creating an oasis of relaxation & entertainment. The property also boasts 4 spacious barns, mare motel, 2 covered arenas, outdoor arena & bridle path. Additional equestrian amenities include a round pen, multiple turnouts, hay barn, tractor storage, mister system, multiple tack rooms, ensuring top-notch facilities for your horses. There are 2 manufactured homes, the possibilities are endless.

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