Real estate blog entries tagged with market values by Meyling Calero (RMG Realty Group)

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Home : Blogs : Meyling Calero : Real Estate Talk with Mey : Tag "market values"

market values: Some banks lower appraisals, killing sales - 07/13/10 10:41 PM

WASHINGTON - July 13, 2010 - It's a common Realtor complaint: A property going to contract appraises for less than expected. The buyer cannot put more down; the seller will not lower the price; the sale falls apart.In some cases, however, the appraiser is not the cause. Banks - fearful of Fannie Mae and Freddie Mac policies that mete out punishment if a house is over-valued - err on the side of caution by shaving value off the appraisal. If guilty of price inflation, they could be forced by Fannie Mae to buy back the mortgage at a substantial cost. By … (3 comments)

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Meyling Calero

Miami, FL

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