Principles of Establishing Property Value

Is there anything "new" under the real estate sun? Our process for establishing a Market Value range has not varied much, so no, not so much new, but the underwriting rules for Loans and subsequent Appraisal has been modified to require more market condition information...Realtors need to be aware of these rules, so we can be assured that the information is available. Enid Realtors were introduced to these new requirements and received a packet of information. https://www.efanniemae.com/sf/formsdocs/forms/1004mc.jsp
Once the information comes together, the quicker the close and the happier your buyer will be. We are not a Loan Officer or an Appraiser, BUT, WE ARE IN CHARGE OF THE REAL ESTATE TRANSACTION PROCESS. We need to act accordingly. (Even though we are in Charge of the Process, we are not in Charge of the decision making process, so lets not get those two functions confused). There is always something to learn...without interruption. Stay tuned.