Fighting for more accurate appraisals, the Florida Home Builders Association spearheaded a key policy initiative at the National Association of Home Builders last month, establishing the replacement cost approach as a method to be considered by appraisers, Fannie Mae and Freddie Mac in their assessment of residential real estate values.
FHBA President-elect Dave Carter of Winter Haven guided a resolution on appraisal methods through the NAHB committee process at the Fall board meeting in Milwaukee, including unanimous approval from the NAHB Board.
The resolution originated from the FHBA Area V Caucus at the 2011 Summer Builders Conference on a recommendation from FHBA Past President Robert Harper of Lakeland, and was adopted by the FHBA board..
“We hope this policy can be a difference-maker in the appraisal discussions with Congress, federal regulators, and appraisal groups,” said Carter. “If this issue takes hold, it could jump-start housing and help turn the economy around,” said Harper. Rutenberg said the proposal will be discussed at an October 19 Appraisal Summit in Washington.