What to do with the appraisal process? - 06/24/12 06:00 AM

Somebody is just not getting it. In the Northern Virginia market, a steadily increasing number of transactions are not closing due to lower-than-fair-market-appraisals. The process that was put in place to remedy past failures and bloated appraisals, has been replaced by one that leaves appraisers in fear of punitive measures for doing their jobs in tracking pricing trends in areas they are sent to assess value. It is totally random luck if you end up with an appraiser who is not from 50 miles away, let alone familiar with the local market conditions. Yes Virginia, Santa Clause has been replaced … (0 comments)