Bay County Market Comments for Lynn Haven, Panama City, Panama City Beach

Many things continue to happen in the vast world of real estate and especially in the appraisal industry and this year has been no exception.

The one thing that is a given…

CHANGE……. It is the one item of certainty in this business.

Just look at the changes that have already taken place this year.

• Market Conditions Form-1004MC

• HVCC Implementation (Home Valuation Code of Conduct)

On the horizon:

The changes that will take place in the 2010-2011 release of the Uniform Standards of Professional Appraisal Practice.

Why do I mention this now? Well, the intent is to make everyone aware of the changes that will take place so that appraisers and users of appraisal services can familiarize themselves with the new requirements that will be required with the 2010 edition of USPAP.

A summary of the changes can be found here.
http://www.appraisalfoundation.org/Summary_of_Actions_2010-11_USPAP

One BIG change involves the Conduct section of USPAP. The change will require for an appraiser, UP FRONT, to disclose, to a prospective client, any involvement the appraiser might have had with the property within the past three years.