When an appraiser goes to determine the fair market value of a property, they will use different approaches (or methods). If you are dealing with single family houses, you’ll probably only see appraisals that use the Comparable Market Analysis (CMA). You may find that how you determine the value is lot more different than professionals
Genworth’s losses on claims were $62-million in the fourth quarter, $11-million higher than the same period a year earlier. Genworth’s stress tests suggest it could withstand either a 40-per-cent drop in home prices or a sharp spike in unemployment before its insurance business became unprofitable. But if a 25-per-cent drop in house prices were coupled with a prolonged increase in unemployment into double-digit levels, it would affect profitability. Canada’s largest private sector mortgage insurer, has set up its own internal group of real estate agents to deal with foreclosure sales.