Clay Sparkman
Private money is often misunderstood. Many industry professionals know very little about it, and fallacies and misconceptions tend to dominate the collective wisdom. As you know, as a subscriber to this list, I have made it my mission to try to educate professionals regarding the realities of private money. In this capacity, I spend [...]
Valuation
Everything you wanted to know about private money but were afraid to ask
Friday, January 6th, 2012Private money and the question of value
Friday, November 18th, 2011Clay Sparkman
When it comes to private money, the rules–as you may know them–generally don’t apply. Certainly, with regard to the matter of valuing a property, most of you would do well to throw away what you’ve already learned and start over. To help you along these lines, I would like to share an article written [...]
Kick some A in your CMA
Wednesday, May 18th, 2011Clay Sparkman
One thing that Fairfield does a little differently is allow our borrowers to supply their own valuation analysis in lieu of a formal appraisal. Our acceptance of a value estimate really comes down to the comps, and we really don’t care who provides them so long as they are appropriate, we can follow the [...]
What you will only learn on the streets about how to read an appraisal (and hopefully without the scars to prove it)
Monday, August 9th, 2010Clay Sparkman
The crucial thing that you must understand about any appraisal (or other real estate valuation instrument) is that it is only as good as its logic. So that—in other words—you must never accept an appraisal’s conclusion regarding value without looking beyond the surface to understand the logic that leads to the conclusion and without [...]
