FHA single-family handbook update delivers clarity for appraisers

REALTORS raised concerns earlier this year when the Federal Housing Administration’s "Single Family Housing Policy Handbook" included new requirements for appraisers to operate and physically observe appliances on a property during the completion of an appraisal. In response to those concerns, HUD recently announced updates to their handbook that clarify this requirement. According to the new guidance, appraisers must simply note that certain appliances contributing to the market value of the property are physically present. Click here to learn more.