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Appraisals | From 'Urb to 'Burb Blog

Monday, September 30, 2019   /   by Vanessa Saunders

Appraisal requirement raised to $400K small reason for big celebration.

"Appraisal requirements axed on home sales under $400K."


That headline got my attention when I read it today on Inman News. But the ensuing story left me curbing my enthusiasm instead of popping champagne. 

Inman explained it this way. "Following nearly a year of deliberation, federal regulators on Friday approved a long-awaited proposal to waive appraisal requirements on certain home sales of $400,000 and under." 

“The appraisal threshold was last changed in 1994,” stated a press release issued by the Board of Governors of the Federal Reserve System. “Given price appreciation in residential real estate transactions since that time, the change will provide burden relief without posing a threat to the safety and soundness of financial institutions.”

Bumping the threshold up to $400,000 comes as good news to Hudson Valley home buyers, and REALTORS®, who have been expecting the decision for the last year. But what's not mentioned by ...

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  hudson valley real estate, hudson valley home, buying a home, home investment, hudson valley home owners, mortgage process, appraisals

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2019 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.