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Bill would let appraisers 'round up' home values
May 25, 2011
Real Estate at MSNBC.com

Pity the poor Nevada homeowner. With home prices tumbling there at perhaps the fastest rate in the nation, it has become nearly impossible to get a handle on how much a home is worth. Why? Because appraisers, who base home values on comparable sales, have to depend on the plummeting target of “distressed” property sales that dominate in the state.

Nevada state Sen. Mike Schneider is trying to fight back with proposed legislation that aims to set a floor under prices, which have fallen well over 50 percent on average in the Las Vegas area over the past five years. A few months ago,

 
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