The Appraiser Needs Three Good Sale Comps "Within" 1 Mile Of The subject Property!
Sounds easy enough, right?
Well those underwriting guidelines just don't cut it in rural Nevada. Our subject property is a lovely new bank owned home on 28 acres. It is situated in a rural subdivision of 20 acre home sites. The back property line is over ¼ of a mile long and there aren't three homes within that proximity ... let alone three closed sales in this market!
New appraisal regulations are certainly putting a different spin on selling real estate. It will be very interesting to see the outcome of this!
Call Lisa and Jim for All Your Northern Nevada Real Estate Needs!