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Tag Archives: Appraisals

Are Appraisals Missing by 5 to 10 Percent?

In homogenous markets today, market uncertainty creates a range of prices for homes as great as plus or minus 5 percent and in less stable neighborhoods, appraisals can range from as much as plus or minus 10 percent unless appraisers apply risk management techniques to come up with values that improve pull through ratios and better protect homeowners and investors, a leading valuation firm said last week. Read More »

Appraisals Are Still Killing Home Sales

One out of ten Realtors (11 percent) report that low appraisals are killing home sales contracts and an addition 10 percent say they are delaying closings, according to an April NAR practitioners survey of Realtors. Some 14 percent report that appraisals coming in under the purchase price are sending purchase deals back to the negotiating table. Read More »

States Consider Dictating Foreclosure Appraisals

Outrage over legislation that would require appraisers to ignore distress sales in selecting comparable properties for appraised houses forced Maryland legislators to back down from the idea, though three other states are still considering the idea., including Nevada which is holding a hearing on the bill today. Read More »