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Appraising made easy - 3 Year Home Price Protection

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Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
And at the end of 3 years, after they've been collecting premiums,
traveling on the corporate jets, lavish vacations, big bonuses,
where will they be? "We're so sorry, we have had to close our
business, apparently we were grossly underfunded and just
operating on the fumes. Hey it happens, look at Fannie Mae
they thought things would continue to go up, FHA insurance
is way too small for its risk, you all will be paying for that too.
Claims are handled through our attorney's, Duey, Cheatum, and
Howe, LLP."
 

jtinmichigan

Member
Joined
Feb 7, 2008
Professional Status
Certified Residential Appraiser
State
Michigan
Which house price index? One controlled by them? Not a market value appraisal? Frankly to any buyers out there, "RUN!!".
 

dobie

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
New Jersey
A total scam
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Find out if each deal is bonded. If so, it might be a great marketing idea.
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
An adjustment would be difficult to determine for such an incentive. I would let the market decide the adjustment. Compare the sell of that condo with sales of other condos without the incentive. If there is an "value" that the market recognizes then derive an adjustment from it. If there isn't a noticeable difference then perhaps the market doesn't place a value on the incentive.

Second to that you could derive a market conditions adjustment from an average of the past two - three years worth of market decline and use that as an adjustment, if you had to.
 
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