New appraisal regulations that went into effect over the last couple of years (more recently for FHA loans) are adding to the cost of home ownership for many North Texans. It goes without saying that appraisal regulations needed a big overhaul. But the system that’s now in place is hardly a good fix for many [...]
Archive of posts tagged Appraisals
Understanding “Comps” And Why They Are Important In Pricing A Home
“Comps”, or comparable sales for those that don’t know “the lingo” are very important to help determine the price a home will likely sell for to a willing buyer. Appraisers will need at least three of them to justify a home’s value. Here’s an interesting article that explains the methodology for using comps to price [...]
