Comments on: FHA Extends Appraisal Validity Period

By: David Lostra

David Lostra — Sun, 24 Jul 2022 16:35:10 +0000

This makes little to no sense! We are just extending the appraisal time so that people don’t panic. Instead of constantly trying to manipulate the market, we need to allow the boom/bust cycles that are intrinsically a part of a free economy. There are ups and downs, this is naturally. The downs are in place so that people do not pull their money out of the markets, that way they don’t take a lose.
We causing irrational and in predictable causes because of over manipulation.

By: Chengjun Wang

Chengjun Wang — Sun, 24 Jul 2022 06:46:25 +0000

As a Chinese valuer, I am very interesting in the term Validity Period. Is it conflict with the concept of effective date of valuation? Technically the valuation result is only effective in the effective date of valuation. It could not be effective for a period of time after that date.

We do have similar term in China. It is first called the validity period of the valuation result. We tried to change it to validity period of the use of the report, which should be determined by the user and means the user could not use the report out of the validity period of use.

I do appreciate if any valuer could kindly let me know your opinion in US in this regard.

Please kind leave your opinion here. Many thanks!

By: Felicisimo Jon Quipot on Facebook

Felicisimo Jon Quipot on Facebook — Wed, 20 Jul 2022 00:15:00 +0000

Well, if they ask for an update, then our due diligence would be to note if in fact there is market decline, and report accordingly.

Start charging higher fees for updates because most likely you’ll have to back up your claims of price changes if need be. In my area in Sacramento, there appears to be no decline in the ‘near future’. But depending on market inflection, that can change over night in about 1 year. So just be on your toes and charge for your expertise.

By: Wayne Johnston on Facebook

Wayne Johnston on Facebook — Tue, 19 Jul 2022 03:05:17 +0000

I remember when FHA wanted the comps to have closed within 90 days. LOL

By: Loidene

Loidene — Mon, 18 Jul 2022 18:04:33 +0000

It amazes me that HUD wants to completely ignore what condition the property might be in from the date of appraisal to a year later. Cut the appraisal cost, but blame the appraiser for the evaluation when the loan goes south. Here we go again!!!! This is just one of the many mistakes to follow!!

By: Mary Cummins on Facebook

Mary Cummins on Facebook — Mon, 18 Jul 2022 17:54:52 +0000

And when the values are less than market appraisers will be blamed for misappraising again.

By: Heidi Ford on Facebook

Heidi Ford on Facebook — Mon, 18 Jul 2022 15:26:00 +0000

No one ever learns.

By: Lori Alexandra on Facebook

Lori Alexandra on Facebook — Mon, 18 Jul 2022 15:20:41 +0000

These are the borrowers that need the most help. Their loans really need to know the value today with all that is going on.

By: Kimberly Pugh DeFilippis on Facebook

Kimberly Pugh DeFilippis on Facebook — Mon, 18 Jul 2022 15:18:06 +0000

Its a government entity. They are always behind.