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ARTICLE · 10 APRIL 2013

Report: Ban Distressed Home Sales As Comps

Fox Rothschild LLP
Fox Rothschild LLP
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The Bipartisan Policy Center issued a report proposing changes to current appraisal policy. Although it was primarily focused on reducing the government’s role in the nation’s housing finance system, it had appraisal related recommendations.

United StatesReal Estate and Construction
David Snyder
David Snyder
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The Bipartisan Policy Center issued a report proposing changes to current appraisal policy. Although it was primarily focused on reducing the government's role in the nation's housing finance system, it had appraisal related recommendations. For example, it recommended banning the use of distressed home sales as comparables which the BPC said was helping to decrease local home values and buyers' ability to secure financing.

The BPC Housing Commission is led by former U.S. Sens. George Mitchell, Mel Martinez and Kit Bond and former U.S. Housing and Urban Development Secretary Henry Cisneros. The report titled "Housing America's Future: New Directions for National Policy," can be found bipartisanpolicy.org/sites/default/files/BPC_Housing%20Report_web.pdf

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