How does an Appraiser provide the correct value for a property when the housing prices are constantly rising? Homes for sale are at an all-time low, causing home buyers to compete for the homes on the market. Offer too much, and the appraisal may come in lower than what you paid for the property, affecting your home financing. Did you know that an appraiser can use a “positive time adjustment” to substantiate a property value? This adjustment allows the appraiser to account for market conditions using sales contracts or closed loans to document the home’s value accurately. Questions? Just PM me, and let’s discuss your situation!
Related Article Title: Fannie Mae Appraiser Update – Dated March 2021 Written by: Lloyd Rutherford, Staff Writer Don’t make the mistake of thinking that Appraiser Updates are not important! How many times has a deal blown up over an appraisal issue? This update helps the lender understand how drastically some of Fannie Mae’s views are […]