Posts tagged appraisals

It’s a Mad, Mad Real Estate World

First, if there is a foreclosure or short sale in the neighborhood that appears to have sold for market value, i.e. it is in line with other normal sales in the neighborhood, we may use it for additional support. … Common sense dictates that if a house is in a neighborhood where most of the listings are foreclosures, a smart purchaser is not going to pay the homeowner more than he could pay the bank for a similar property.

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New Appraisal Issues Affect Realtors

When the Federal Housing Finance Agency (FHFA) was appointed conservator of FNMA/Freddie, implementation of the HVCC was pushed back to next year, but you can expect that the appraisal portion of your closing process will be different when it is implemented next year. … In the last week alone, we have been hired to reappraise two properties where the underwriter felt that the original appraisals, conducted at a lowball fee by someone else, simply did not provide enough detailed information to allow a decision.

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