Home value code of conduct!!! We all know that this new system is not only hurting our business, but the consumer's are really paying the price. Please follow the link if you have not done this to sign the petition.
http://hvccpetition.com/ Share with as many people in our business that you can. We need to change
this!!!!!!! I just lost a 650,000 sale due to a ridiculous appraisal. The property has a separate legal boat house on it with which the appraiser gave a 45,000 value to. The property is located in the Rocky Bay area. They then used comps as far away as Fox Island. Non of the comps had a separate building on it. With that, of course, it was thrown out of underwriting. It was then suggested to remove the boat house so the appraisal would work. The buyer decided to rescind his offer, there was nothing wrong with having the boat house on the property. I took the liberty to see what a local appraiser could find on this property, and they found within an acceptable area two separate comps that should have been used. FYI, the HVCC appraiser was out of Colorado! That makes no sense at all.
We all need to get together on this to have them ammend this new ruling. Please take the time to read what the petition says, and if you feel comfortable with it, please sign it. There is also a spot where you can add your own comments.
Comments(0)