February 23, 2012

Bill would allow ’rounding up’ of home values

Bill would allow ’rounding up’ of home values

At the urging of such shell-shocked homeowners and real estate agents, lawmakers in four states sponsored bills this year that would direct appraisers to exclude distressed sales when they determine how much a house is worth. With home prices tumbling in Nevada, a state senator is proposing legislation that would allow appraisers to “round up” housing values. Appraisers are not happy about the idea.