Home and Home Evaluations

I want to tell you what a great area Los Angeles' Westside is and the wonderful social atmosphere that exists here. I've lived on the Westside for 23 years and enjoy the restaurants, club scene and political and social activism of the people in residence. The Westside features many live theatre venues, along with terrific shopping opportunities, from major shopping centers to small scale brick and mortor establishments. The variety of foods offered by local restaurant establishments provides a smorgesbord of cultural options. The night club scene offers a variety of musical choices and it's never dull. My favorite venue is the fantastic Hollywood Bowl. Summer concerts, under the stars, with picnic baskets, restaurant service and the musical sounds bouncing off the surrounding hillsides offer a magnificent night out. Now, to switch gears a little (maybe, a lot), the newer Fannie Mae and Freddie Mac new appraisal rules for home evaluations - known as the Home Valuation Code of Conduct - is causing tremendous anxiety as regards appraisals on real estate property. The L. A. Times is calling it the "hottest controversy in real estate this summer". There is a real concern that it could directly affect the value of your home, to the negative, by ten of thousands of dollars. The Home Valuation Code of Conduct is the result of a legal settlement between New York's Attorney General's office and two major mortgage companies. The complaints are centering on the proliferation of lowball appraisals by appraisers unfamiliar with the local market and "fostering the use of appraisers willing to cut their fees as much as 50%. Builders, real estate professionals, consumers and mortgage companies have complained to Capitol Hill about the new appraisal rules. You can learn more about this issue by logging on to http://www.latimes.com/business/la. Have an OUTSTANDING Day. John