An appraiser must be licensed or certified to handle federally-related work on residential property valued at more than what amount?

An appraiser must be licensed or certified to handle federally-related work on residential property valued at more than $250,000. This threshold is significant because it aligns with regulations set forth by the Federal Housing Finance Agency (FHFA) and other federal guidelines aimed at ensuring the reliability and accuracy of appraisals for properties that will be involved in federally-backed transactions.

When a residential property is valued above this amount, it typically involves larger financial stakes, making it critical that the appraisal is conducted by qualified individuals. This licensing requirement helps maintain standards in the industry, safeguarding the interests of both consumers and lenders by ensuring that appraisers possess the necessary training and expertise to assess property values correctly in more complex transactions. Appraisals for properties under this threshold may not require the same level of oversight, allowing for a more straightforward process in those cases.