The Real Estate Encyclopedia
Regional Real Estate Appraisal Service
Category - Home Purchase Facilitators - Home Inspection & Appraisal

Regional Real Estate Appraisal Svc is a broad based service organization, experienced in providing valuation services for residential, commercial and industrial properties.  Regional provides valuation, market, and feasibility studies, highest and best use analyses, and consultations for developers as well as institutional, government and private clients.  Regional's reports meet all requirements of government afencies, lenders, courts and the Appraisal Institute under the Uniform Standards of Professional Appraisal Practice (USPAP).

Regional Real Estate Appraisal Service is licensed in New York, New Jersey, Connecticut, and Florida.  Regional is also capable of managing residential appraisals in all East Coast states.  The ability to act as an independent third party will allow Regional to continue to service all lending institutions once the new Home Valuation Code of Conduct (HVCC) law is passed in January 2009.

Regional Real Estate Appraisal Service's chief appraiser, John P. Callanan is a certified general appraiser for the states of New York, New Jersey, and Connecticut.  John P. Callanan is also certified to complete appraisal assignments in the state of Florida.



HVCC

The Home Valuation Code of Conduct is basically a law agreed upon by Freddie Mac, the New York State Attorney General and the Office of Federal Housing Enterprise Oversight.  This law will become effective as of January 1, 2009.  The main goal of this law is to eliminate inflation of appraised values due to influence or pressure from the lending institution.  The law states that lenders are no longer allowed to work directly with the appraiser.  The lender is required to authorize a third party (like an appraisal management company) to select appraisers.  This third party will be responsible for appraiser compensation and will become the line of communication between the lender and the appraiser.   



External Links
www.regionalltd.com
 
 
Category(s)
Service Providers in Real Estate - General RE Service Providers
Home Purchase Facilitators - Home Inspection & Appraisal
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