Adjusting Value on VA Appraisals

The valuation challenges continue in the Phoenix area Real Estate market as evidenced by a recent change in how VA allows adjustments to be made to the Arizona VA appraisers estimate of value.  In the past, qualified Mortgage underwriters had the objective freedom and ability to increase a VA appraisers valuation of a property by up to 5% of the value given. While it was a rarely used option, increasing the value an appraiser gives on a Phoenix are home by 5% on a VA appraisal was in fact an … [Read more...]