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Market Condition Adjustments Illustration Fannie Mae guidelines emphasize that adjustments made to comparable sales are based on market changes between the contract date of the comparable sales and the effective date of the appraisal. A great example on how this may look was posted by Brent Bowen in the LinkedIn article found here.
There has been a meeting of the minds, the contract has been signed and everyone is anticipating a smooth closing. Oftentimes appraisers will embed a short essay/commentary about why their opinion of value doesn’t align with the negotiated sales contract. 4) “Bracketing” of most major features. (No 2) No sales over a year.
Appraisers sought to bracket the subject using three comparable sales. Lots of good, practical ideas for you in this article in the monthly newsletter! We have learned how to address areas that tend to be sticking points for Fannie Mae and Freddie Mac, such as bracketing elements of comparison. Cancel at any time for any reason!
I’ll save the details for another article, but I think you want to ask yourself: “Now that the American population knows the government has the ability to provide trillions of dollars of stimulus money in any given year, do you think they’ll elect politicians who choose to say ‘No More’ ? So, what did they do?
If they don’t hit the sales price by bracketing, they will throw out a lower sale and go get a higher one. ” To read the full article, plus 2+ years of previous issues, subscribe to the paid Appraisal Today. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.47
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