- All the Days on Market including previous days that a property was listed even if removed from the market
- Offering Price as the original offering price despite price reductions
- Property Style now has to be classified by architectural design such as Victorian, Colonial, Townhouse, etc
- Condition must now be determined by predefined categories
- Quality of Construction has to be rated into one of six predefined quality levels
New appraisal standards went to effect for most loans as of September 1st. Appraisers now have to take into account all the following factors:
0 Comments
The real estate market has been tough enough this year with the banks tightening up their credit guidelines for borrowers, owners not wanting to lower prices to market, and buyer wanting unrealistic foreclosure prices, but now things have gotten even tougher for us professionals. We now have to qualify not only our borrowers but the buildings that they are considering. Some of the potential deal killers for first time buyers seeking FHA, Fannie Mae or Freddie Mac approved bank loans are:
|
AuthorGreg Bryan is a realtor and an attorney in San Francisco SF Property Values
For Blog information on unique properties and values click here on SF Values and Property Highlights.
Archives
December 2016
Categories
All
|