Rules rile up appraisers – The Denver Post
A warning to home buyers and sellers in the Denver area. Fall-out from the mortgage crisis is over-regulation and tightening of lending and appraisal standards. This is not necessarily all bad, but as explained in this recent Denver Post article, good intentions have created some consequences that will hinder the real-estate recovery, rather than helping it. And if you are buying or selling a home and FHA financing is involved, make certain you have sold comps within the last 3 months equal to or above the sales price of your home, or the deal will likely fall due to appraisal issues. This will likely keep home values down, and possibly deflate appraisal values, in the low end of the price spectrum for the foreseeable future.
Categories: Littleton Neighborhoods
