Via Facebook and the Realtor Action Center, I just read this article by Kenneth R. Harney in The Washington Post regarding Fannie Mae and appraisals.  Fannie Mae, beginning in September, must contact an appraiser where there is a discrepancy between the value they give a property and that of the electronic, non-onsite valuation process.

Wow! That's a welcome change from what HVCC has been allowing!  Lenders can talk to the appraisers?  Awesome!  Feet-on-the-ground appraisers can use their experience and better judgement to uphold a sales price?  What a novel idea!

For the most part, I think we've been pretty fortunate in this area.  I haven't heard of too many appraisals coming in several tens of thousands of dollars under sales price.  But we certainly do have neighborhoods that have been devastated by distressed sales.  And those same neighborhoods will also have regular, non-distressed sellers who need to sell their homes.  These folks are the ones we don't always think about when dealing with foreclosures and short sales.

Will an experienced, LOCAL appraiser be able to make adjustments for comps that are distressed sales?  Let's hope so.  Is this one step back up the ladder to a more stable housing market?  I'm keeping my fingers crossed.

askleadingedge.com

Amy Salisbury, Realtor/Owner

                                 amy@askleadingedge.com     www.askleadingedge.com

 Leading Edge Properties

130 Augustine Avenue, Unit 54, Charles Town, West Virginia 25414 

304.724.9191

Striving to provide excellent customer satisfaction in all things real estate related in the beautiful Eastern Panhandle of West Virginia, just an hour west of Washington, DC and Baltimore, MD.

Serving Jefferson County: Charles Town, Harpers Ferry, Shepherdstown.  Berkeley County: Martinsburg, Inwood, Bunker Hill, Falling Waters, Hedgesville, Gerrardstown.

Please feel free to email questions and comments!

 

Want More Money For Your House? Lower Your Price.
07/06/2010
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I've said it more than once, and I'll say it again: Mr. Seller, I know that your neighbor sold his comparable home for a much higher price than what I'm suggesting you list at. But that was 4 YEARS AGO! You had your turn! It is now a buyer's… more
Make Hay While the Sun Shines!
07/01/2010
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I had lunch today with a good friend and sometime real estate investor. Its been awhile since we've gotten together, just the two of us, to catch up on life, work, family, etc. She's always checking out local Jefferson County, West Virginia… more
A Change Will Do You Good
06/29/2010
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In the last several weeks, this Sheryl Crow tune has been bopping along in my brain. Change is good, so they say. But it isn't easy to accept and often isn't welcome. There have been some pretty significant changes in our office lately and the one… more
Jefferson County West Virginia Market Statistics
04/24/2010
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I'm a Realtor AND I Have a REAL Job!
03/16/2010
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When you read my title, you may have been under the impression that I list and sell real estate on the weekends and in the evenings: AFTER I finish my "Real" job. You know, the one where I make a steady paycheck, receive benefits and get paid… more
Ranson West Virginia Home!
01/26/2010
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I'm not terribly fancy.   I'm certainly not pretentious.   But… I've been cared for over the years.   I can offer enough space without breaking the bank paying utility bills.   I have a nice yard, but it won't take all day to mow my grass.  .. more
RESPA -tory Therapy
01/07/2010
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RESPA -tory therapy is what we'll all need after the first time we have a closing with the new requirements and HUD-1 right? Last week before the new changes went into effect, Mike Briel (our local go-to closing attorney and all around good guy)… more
VREBC: It Kicked My A** But It Was Great!
01/04/2010
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I just finished participating in the VREBC and it was FANTASTIC! No technical guru am I to anyone except the girls in my office (I can usually figure out a connection problem or un-jam the copier--they really need me in there), I have been excited… more
Adorable Charles Town Rancher!
11/12/2009
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I'm so cute! Not to make any of the other ranchers out there jealous or anything, but really I am just adorable!   And I am looking for some new owners!   My current family has plans to move, so I could be your new home!   You'll love my floorplan… more
 
Amy3

Amy Salisbury West Virginia Realtor/Jefferson/Berkeley

Charles Town, WV

More about me…

Leading Edge Properties

Address: 130 Augustine Avenue, Unit 54, Charles Town, WV, 25414

Office Phone: (304) 724-9191

Cell Phone: (304) 582-3635

Email Me

Observations on the local real estate market in the Eastern Panhandle of West Virginia and the market in general. Buying,Selling,Real Estate,Charles Town,Harpers Ferry,Shepherdstown,Martinsburg,Berkeley County,Inwood,Bunker HillFeedjit Live Blog Stats
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