The National Association of Realtors (NAR) felt that the new HVCC rules (discussed in an earlier post) were to limiting to get timely and accurate appraisals. They approached Fannie Mae and Freddie Mac and raised two serious issues. The first was that appraisers should have experience in the geographic areas of their work and they should be allowed to talk to Real Estate Agents. As with many new rules adjustments need to be made and fortunately in this situation everyone is willing to work together. These two changes have been made making for a smoother appraisal process. NAR continues to look at other concerns.
At the end of July for the first time in a very long time the Greater Las Vegas Association of Realtors (GLVAR) is showing that we have more contingent and pending sales than active, available listings. Understanding that many of these are short sales, I only hope these sales actually close escrow. It the tide changing?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment