Appraisal Thresholds Bordello
Anyone wants to place a wager on how long before appraisal thresholds are raised for SFR?
Retirement, with a part-time job working as a bouncer at a bordello in the Nevada desert is beginning to look appealing. Activity there is similar to what appraisers are experiencing these days.
“The FDIC board of directors today (Mar. 20, 2018) approved a final rule to raise the appraisal thresholds for commercial real estate transactions from $250,000 to $500,000…”
While the individual 1-4 unit investment properties are being kept at $250,000, would anyone like to place a wager on how long it will be before the appraisal thresholds for SFR is raised to $400,000 or above, and not just for ‘rural’ properties only?
In other news, here’s an interesting twist on family dynamics!
In short, if you are going to have a family business, treat family fairly, and per the agreement you agree to.
The story is from this link.
Court affirms son owes dad $40K in appraisal fees
A dispute between a Howard County father and son who operated a real estate appraisal business was rightly decided by the trial court, which found the son owed his father more than $40,000 in past-due appraisal fees…
An accountant found that father Kent was owed more than $28,000 in appraisal fees that had been collected from May 2011-December 2013. Subsequently, Kent received smaller and smaller payments for the appraisals he did until he finally terminated the business relationship in June 2015. He sued his son the following February, and the trial court found Mark owed his father $40,623.55…
Both still have active licenses.
Property ‘taking’ issue before US Supreme Court again
Those of you who like to follow the US Supreme Court proceedings relating to real estate issues (takings clause – 5th Amendment to the US Constitution) may want to peruse this article, and look at.
This case involves a local jurisdiction (in Pennsylvania) who decreed private property must be opened to public access during the day. The property owner is contesting that decision.
This case, and the eventual decision, may have the effect to modify other Supreme Court decisions about ‘takings’ that have happened across the US.