Special offer
Home > Blogs > John Pusa > John Pusa's Blog
bookmark_border

New Appraisal Exemption Rule

By
Industry Observer CDRE #01044712

On October 9, 2019, Magazine.Realtor reported certain home sales of $400,000 and below will no longer require an appraisal, homes qualify for the appraisal exemption can receive an evaluation instead of appraisal, the agencies require institutions to obtain an evaluation provides an estimate of the market value for the real estate property.

The new appraisal exemption does not apply to loans sold or guaranteed by the Federal Housing Administration, Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, or Freddie Mac will require an appraisal.

For more complete detailed information about the new appraisal exemption for homes valued below $400,000, please click HERE

Posted by

John Pusa

Better way to buy and sell real estate

Office (818) 441-8881

Mobile (818) 441-8881

Show All Comments
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

I read that article as well...we will see how that all shakes out with in house portfolio loans.

Oct 12, 2019 03:21 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning John Pusa - this sounds like an interesting development.  Hope it helps.

Oct 12, 2019 04:10 AM
Donald Urschalitz
Lubeck Realty Group - Jupiter, FL
P.A. Realtor ABR RSPS North Palm Beach County

Not suce if this is as good as it sounds.

Oct 12, 2019 05:21 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning John. Certainly limits the saleability of these loans. Shakeout to come! Enjoy your day!

Oct 12, 2019 05:43 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

and what's the flip side of this one John Pusa ????

Oct 12, 2019 05:43 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have not run into this yet with any of my transactions, but I guess it could be good in some situations.

Oct 12, 2019 06:48 AM
John Pusa
Glendale, CA

Sally K. & David L. Hanson you are right, we will see how that will impact the in house portfolio loans. Thanks for the comment.

Oct 12, 2019 02:53 PM
John Pusa
Glendale, CA

Good afternoon Grant Schneider it does sound interesting, and hopefully it will help. Thanks for the comment.

Oct 12, 2019 02:55 PM
John Pusa
Glendale, CA

Donald Urschalitz time will tell if it is a good idea. Thanks for the comment.

Oct 12, 2019 02:57 PM
John Pusa
Glendale, CA

Good afternoon Wayne Martin It might limits the saleability some of these loans. Enjoy your day too! Thanks for the comment.

Oct 12, 2019 03:00 PM
John Pusa
Glendale, CA

Barbara Todaro time will tell the flip side of the appraisal exemption. Thanks for the comment.

Oct 12, 2019 03:02 PM
John Pusa
Glendale, CA

Brian England the new appraisal exemption was approved this week. The new  appraisal exemption might be good in some situations. Thanks for the comment.

Oct 12, 2019 03:07 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, John, for sharing this information.

Have an outstanding week.

Oct 13, 2019 05:50 AM
John Pusa
Glendale, CA

You are welcome Roy Kelley glad you find the report very helpful. Have an outstanding week too. Thanks for the comment.

Oct 13, 2019 09:25 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow John, I missed this one and thanks for pointing it out.  I need to talk to a couple of my lenders to get their take on it.

 

Oct 13, 2019 09:39 AM
John Pusa
Glendale, CA

You are welcome Will Hamm I agree, it help to discuss it with your lenders. Thanks for the comment.

Oct 13, 2019 09:43 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Monday morning, John.

Have a great day and an outstanding week.

Oct 14, 2019 07:24 AM
John Pusa
Glendale, CA

Good afternoon Roy Kelley  have a great day and an outstanding week too. Thanks for the comment.

Oct 14, 2019 11:56 AM
Back to Top

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?