mortgage: Property Values and Lenders
- 06/01/10 03:07 AM
Recently there has been some confusion in how property values are established. There used be an idea that the true value of a property was what the seller would sell for and what the buyer would pay. Then we entered the real estate market of 2009-2010. In the local market of east central Florida, we have almost every neighborhood with its share of depressed/distressed properties-short sales, foreclosures and the usual "widow/widower-need-to-sell-and-move-on" transaction which is typically low. Now appraisers have to look at those sales, whereas in the past, they could be excluded as not typical. So value becomes the market value … (1 comments)
Recently there has been some confusion in how property values are established. There used be an idea that the true value of a property was what the seller would sell for and what the buyer would pay.
;)
;)
