New Federal rule on home appraisals

newappraisalNew Federal rule on home appraisals officially started Oct 9th. The final rule increases the threshold level at or below which appraisals are not required for some residential real estate transactions from $250,000 to $400,000.

This is the first time in 25 years that federal regulators have increased the property value limit of the homes that require an appraisal as part of the selling process.

Now, it’s important to note that the new rules do not apply to loans wholly or partially insured or guaranteed by, or eligible for sale to, a government agency or government-sponsored agency.

That means that loans sold to or guaranteed by the FHA, HUD, VA, Fannie Mae, or Freddie Mac would still require an appraisal, per each agency’s rules.

The new rule still “requires institutions to obtain an evaluation to provide an estimate of the market value of real estate collateral.”  This can be done via an appraisal or possibly a Broker Price Opinion (BPO).

Call me for more details. 913.731.9131

Evening in the Park

Johnson County Parks and Recreation

wants to say “thank you” for your support of their parks, programs, and special events by hosting a free event:
Evening In The Park   Saturday, September 28 at the Theatre in the Park, 6 pm to 10 pm

Bring your blankets, chairs, a ball/Frisbee, and enjoy time with your family and friends.  Sing, dance, or relax as you listen to the M-80’s, a popular 1980’s tribute band.  Then settle in to watch the iconic 80’s movie, Back to the Future, as the sun sets across the park.

Food, wine, and beer will be on location for purchase, so bring your wallet and ID.

September is Deaf Awareness Month and we are proud to welcome members of the Deaf Community to enjoy Evening in the Park. We will have an interpreter present for staff remarks and provide closed captioning for the movie, Back to the Future. For additional questions on accessibility, please call (913)-826-3405.

Head to their Facebook event page to mark you are going and share with friends!

Theatre in the Park is located at 7710 Renner Road, Shawnee.  Renner gates open at 5:00, theater gates open at 5:30.