Comments on: Wall Street Journal Questions Property Appraisal Accuracy

By: Von Rezak

Von Rezak — Mon, 14 Jun 2010 03:06:54 +0000

Another Good blog post, I will be sure to save this in my Digg account. Have a great day.

By: Lyman Boyum

Lyman Boyum — Wed, 07 Apr 2010 05:24:00 +0000

A Good post, I will bookmark this post in my Propeller account. Have a awesome evening.

By: Alec

Alec — Sat, 24 Oct 2009 23:04:54 +0000

Usually I don’t leave a comment but I wanted to let you know that I really like your site.

By: Vicki|MiamiRealEstateCafe

Vicki|MiamiRealEstateCafe — Wed, 19 Aug 2009 20:09:42 +0000

James: Just got a call from an appraiser this morning, asking for my help with comps for a listing I have that he was to appraise this afternoon. Our SALES PRICE was well above any recent comparable sales. He’d done his homework, and knew exactly what had sold. He’d pulled every comp. I had nothing to add, and told him so.Nevertheless, he still worked it, even after I told him his comps were correct! Fortunately, the buyer had known from the start that the property wouldn’t appraise for purchase price. The buyer (and another buyer who wanted to submit a back-up offer!) realized the VALUE and was willing to pay, regardless of appraised value. With financing on this sale being minimal, the appraised value wasn’t a deal breaker. A call from an appraiser willing to go the extra mile to discover anything out there to support a higher appraised value, was refreshing! MADE MY DAY !!!

By: James R Venney

James R Venney — Wed, 19 Aug 2009 03:11:02 +0000

Vicki,

The use of “out of area appraisers” has been an issue since the appraisal management company business model started to gain popularity in the mid 1990’s, however the ill conceived HVCC (Home Valuation Code of Conduct) has amplified this problem. As any competent appraiser will tell you it is not possible to accurately prepare an appraisal on a residential property in the time frames allotted and for the fees being paid if you are trying to cover the tri-county area.

HVCC is bad for the consumer, ensures the delivery of a lower quality appraisal report and is delaying the recovery in the real estate market both locally and nationally.

Thanks for addressing this topic and keeping us all informed.