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Old 07-21-2007, 09:11 AM
Julio E. Sune, Jr. (FL)'s Avatar
Julio E. Sune, Jr. (FL) Julio E. Sune, Jr. (FL) is offline
 
Join Date: Jan 2002
Location: Miami, Florida
State: Florida
Professional Status: Certified Residential Appraiser
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Exclamation Declining Market: FM Announcement 7-11

http://appraisalnewsonline.typepad.com/0711_FNMA.pdf

http://appraisalnewsonline.typepad.c...dQuestions.pdf

Highlights from Fannie Mae Announcement 07-11:

"An accurate value for the property securing a mortgage loan is important in all markets, but the value becomes more difficult to evaluate when the subject real estate market is experiencing a decline in property values ("declining market"). Recent trends indicate that certain markets are experiencing a decline in property values. One of the potential problems in a declining market is the overstatement of property values in appraisal reports. This may result in the borrower not having an accurate property valuation, and over-valuation of a property could increase loan losses should the mortgage loan subsequently default."
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Old 07-21-2007, 11:15 AM
xm72mhd xm72mhd is offline
 
Join Date: Aug 2005
State: Florida
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Read this!!!!

There is a link to an OFHEO site. I looked and at this point it looks like stats, but I'll figure it out. Seems it might be excellent data and definitely something you need to be aware of.
  #3  
Old 07-21-2007, 12:07 PM
Otis Key's Avatar
Otis Key Otis Key is offline
 
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Location: Mile High
State: New Mexico
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Julio - you're late buddy. Been watching for hurricanes?

http://appraisersforum.com/fannie-ma...declining.html

Edd - you didn't post a link.
  #4  
Old 07-21-2007, 12:16 PM
xm72mhd xm72mhd is offline
 
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State: Florida
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www.ofheo.gov/hpifaq.asp and there abouts.
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