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Three Rivers Appraisal Services

mortgageFirst and Second Mortgage  appraisals are the most common product in the industry. They are used by lending institutions for conventional loans, government backed loans (FHA) and the private sector. Appraisal experience since 1987 has served us well to maintain a high standard of quality and a solid reputation with local and national lenders. Our appraisal products meet Fannie Mae guidelines and the Uniform Standards of Professional Appraisal Practices as promulgated by the Appraisal Foundation.

Tax appeal appraisals  require a specific analysis to meet the requirements of legal system. Both knowledge and experience of this unique environment are necessary to successfully win an appeal. We specialize in filing appeals, preparing the necessary documents, performing an appraisal, if necessary, and representing clients at hearings.

Comparable listing searches and Pre-listing Appraisals  are necessary to ensure a property owner understands the real value of their property from an independent source. Frequently, rear estate agents inflate the perceived value of a property to steal a listing from another agent. Properties which are over listed are rarely shown and sit on the market for long periods of time until the sale price is finally reduced. Typically, a house loses 1 percent of its value for every month it is unsold. Those costs include real estate taxes, insurance, maintenance and upkeep. Also, mortgage brokers may inflate the value because they are paid by commission. They maximize the loan amount of a property for self-serving reasons. Buyers and sellers are well advised to obtain accurate market data through a comparable listing search and/or a pre-listing appraisal by an experienced appraiser.

Foreclosure appraisals  while similar in appearance to mortgage appraisals require specialized care. Properties are often distressed and only experienced appraisers with knowledge of how a distressed property is impacted by the local market will accurately forecast a “quick sale” value. Typically, lenders are not interested in repairing distressed properties and want to sell the property within 90 days.

Private Mortgage Insurance (PMI)  is applied to most mortgage loans with less than a 20% down payment. When the mortgage balance and market value reach the 20% level, by law, the PMI can be removed from the mortgage. This can be as much as $50/month on a loan of $100,000. The law requires that lenders must remove the PMI when the loan balance reaches 78%. However, the lender is not required to consider market growth and since the initial years of a loan are mostly interest, it may take many years to reach the 78% threshold. An appraisal submitted to the lender reflects current market value and can result in PMI removal years sooner.

appraisal reviewAppraisal Review  has been mandated by the Federal Government. Primarily used by financial institutions, “they must have an effective, independent real estate appraisal and evaluation program”. The reviews can be either a field review or desk review. The reviewer determines whether the process followed meets Fannie Mae and USPAP guidelines. Review appraisals are especially important in the secondary lending market, because the original appraiser was hired by the primary lender or mortgage broker. Estate Planning appraisals are typically used for tax purposes, the creation of family trusts, family or partnership buyouts and inheritance. The need for estate planning appraisals are usually driven by life changing events, such as, births, death, marriage, divorce, business partnerships and the like. The appraiser must be familiar with current laws, retroactive appraisals and partial interest values.

Estate Planning Appraisals  are typically used for tax purposes, the creation of family trusts, family or partnership buyouts and inheritance. The need for estate planning appraisals are usually driven by life changing events, such as, births, death, marriage, divorce, business partnerships and the like. The appraiser must be familiar with current laws, retroactive appraisals and partial interest values.


Expert Witness Consulting and Testimony  may be necessary for any appraisal. The successful witness must be confident, experienced, thorough and able to focus under pressure. A good appraiser can play several roles in the legal arena. They include assisting the attorney in settlement negotiations, direct testimony, reviewing appraisals and assisting the attorney with questions for cross examination. Corporate Employee Relocation appraisals are an important of the business environment. Companies will spend up to $50,000 to relocate an employee. Companies typically buyout an employee’s current home when they relocate the employee to another city. Knowing the real market value through comparable sales and current listings is essential in pricing the property correctly to sell within 120 days in the market. The importance of these appraisals is evidenced by companies requiring up to three appraisals on every home. Appraised values must be within 3% of one another.

Corporate Employee Relocation  appraisals are an important of the business environment. Companies will spend up to $50,000 to relocate an employee. Companies typically buyout an employee’s current home when they relocate the employee to another city. Knowing the real market value through comparable sales and current listings is essential in pricing the property correctly to sell within 120 days in the market. The importance of these appraisals is evidenced by companies requiring up to three appraisals on every home. Appraised values must be within 3% of one another.

Reverse Mortgages  are a special type of FHA/HUD loan that allows you to utilize a portion of the equity in your home tax free. These mortgages are U.S. Government guaranteed, your existing mortgage, if any, is completely paid off, and you can receive a portion of the balance with no impact on Social Security or Medicare benefits. Reverse Mortgage appraisals require the appraiser to be approved by the Federal government.

Forensic Appraising  is a growing subset of the appraising field focusing on uncovering real estate fraud. Forensic Appraisers investigate potential fraud before and after loans are made. Detailed investigation of the subject market, the subject property, comparable sales used and available are examined to determine if fraud has been committed as well as the true value of the subject property.