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Home appraisals no longer derailing sales

By Les Christie

NEW YORK (CNNMoney) — Consider this one more sign that the housing market is heating up: Appraisers are putting higher values on homes again, allowing for more deals to go through.

During the housing bust, sales were often derailed by low-ball appraisals that fell far shy of a home’s selling price.

For example, if a home cost $500,000 and required a 20% down payment of $100,000, the buyer would need to finance $400,000. But if the appraiser valued the home at $450,000, the buyer would only be eligible for a $360,000 loan — making the home too costly for some buyers.

But now, as home prices climb and housing inventories shrink, appraisers are valuing homes at or above their selling prices, according to Lawrence Yun, chief economist for the National Association of Realtors.

Obama says some IRS employees ‘failed’

President Barack Obama said Tuesday the Treasury Department inspector general’s report examining how the Internal Revenue Service allowed for the targeting of “tea party” and other groups shows some IRS employees “failed” to act in a way “that’s worthy of the public’s trust.”

“Regardless of how this conduct was allowed to take place, the bottom line is, it was wrong,” the president said.

In his statement, Obama said he’s directed Treasury Secretary Jacob Lew “to hold those responsible for these failures accountable, and to make sure that each of the Inspector General’s recommendations are implemented quickly, so that such conduct never happens again.”

[Original story published at 7:40 p.m. ET]

Army investigates sergeant for alleged sexual assault

(CNN) — The Army announced Tuesday that a sergeant first class assigned to a sexual harassment and assault response and prevention program at Fort Hood, Texas, is under investigation for “pandering, abusive sexual contact, assault and maltreatment of subordinates.”

The soldier, who was not named in an Army statement, has been suspended from all duties.

No charges have been filed.

“This is so contrary to everything upon which the Army was built,” Secretary of the Army John McHugh said during testimony before the House Appropriations Committee Defense subcommittee, the statement said. “To see this kind of activity happening in our ranks is really heart-wrenching and sickening.”

McHugh spoke generally about sex abuse crimes in the military.

Bring your pup to the ‘K’ for ‘Bark in the Park’

KANSAS CITY, Mo. — Now you can have a dog with your dog at the ball park.

‘Bark at the Park’ is set for May 26 at Kauffman Stadium.

Bring your pooch to the “K” and catch a Royals game with your canine friend.

Among the events, a pet pre-game parade.

For more information and tickets, click here.

Tougher drunken driving threshold proposed

WASHINGTON (CNN) — A decade-old benchmark for determining when a driver is legally drunk should be lowered in an effort to reduce alcohol-related car crashes that claim about 10,000 lives each year, U.S. safety investigators said on Tuesday.

The National Transportation Safety Board recommended that all 50 states lower the threshold from 0.08 blood-alcohol content (BAC) to 0.05.

The idea is part of a safety board initiative outlined in a staff report and approved by the panel to eliminate drunk driving, which accounts for about a third of all road deaths.

The board acknowledged that there was “no silver bullet,” but that more action is needed.

“This is critical because impaired driving remains one of the biggest killers in the United States,” NTSB Chairman Debbie Hersman said ahead of a vote by the panel on a staff report.

Future of KCI on front burner for mayor

KANSAS CITY, Mo. — Mayor Sly James announced Tuesday the appointment of 24 people from various parts of the community to make up a task force he has assembled in an effort to decide once and for all what is best for Kansas City’s airport.

The mayor seemed to understand the fire in the airport debate and the criticism he’s up against.

“This isn’t something we’re doing for fun,” he said. “I’m not asking these people to devote all the time, effort, and energy to do this for fun and games.”

Among the appointees is a vocal critic of a single-terminal KCI.  In fact, Kevin Koster is so against it, he created a website called “SaveKCI.com“.

He believes when the mayor tells him that the mayor and the city council have not yet made up their minds about the airport and will carefullyconsider the task force findings.

Cell phone companies: Drivers 23 times more likely to crash if text & drive

KANSAS CITY, Mo. — The four largest cellphone providers are teaming up to raise awareness about the dangers of texting while driving. Verizon, Sprint, T-Mobile and AT&T will work together to spread the message behind AT&T’s “It Can Wait” campaign during this summer.

The campaign is unique because it teams up rival companies warning against the dangers of their own products. “It Can Wait” will be sent out across television, radio and social media targeting teenagers and will last through September.

Most states already ban texting while driving for some drivers while nearly 40 states ban text messaging for all drivers.

According to the US Transportation Secretary, texting while driving is a deadly habit that makes a driver 23 times more likely to be involved in a crash.