Today’s Home Values
In the challenged real estate market, sellers must steer clear of new home valuation pitfalls. The new HVCC (Home Valuation Code of Conduct) can hamper financing, and incorrectly price your home. These new home valuation laws have resulted in a rift in communication between banks and real estate professionals.
These new home valuation rules bring a new system of checks and balances to the home selling process. Although some appraisers now prefer to err on the side of undervaluing properties, the best way to gauge a home’s value is by seeing what a buyer will pay. Some real estate experts say low valuations are in part due to the large inventory of distressed properties available for sale.