The National Association of Realtors (NAR) has completed an analysis of the Home Valuation Code of Conduct (HVCC) and it seems to be having an negative impact. No surprise here!!

The survey was conducted with approx. 40,000 random NAR members and the end result were response's from 3,600 members.

The analysis has shown the following.

76% of Realtors (responded) have stated that after the May1st deadline, they experienced a delay in getting appraisals complete. No surprise again!!

69% reported that this new wonderful policy increased the "close" time by more than a week.

Of these, 37% of Realtors polled said they lost sales due to these delays. 16% reported one lost sale while 20% (I don't know where the other 1% went) reported more than one lost sale.

AMC's assignments to Appraises had increased from 13% to 40% after May 1st.

Nearly half of all NAR Appraisers also reported a reduction in fees collected. Great deal for everyone here huh?

Another "no suprise here"......Its also been reported that a decrease in quality has also been reported since the May 1st. This reduction in quality was a result of reduced time to complete.

Wonder if the people responsible for this still have jobs???

NAR appraiser members have also reported a HUGE increase in assignments in unfamiliar geographic areas. Did these "gurus" not see this coming???

The people that are trying to make things "better" for the customer are the wrong people for the job. It really seems that little "logic" was used when implementing these new procedures.

71% of these Realtors that were polled also noted a HUGE increase in the use of "out of area" appraisers.

How can these appraisers do a quality job when they are first, not given the proper time and 2nd, doing appraisals in areas they may not be familiar with. Overall, the changes that are being made will certainly make things worse in the short term. Lets hope some good does come out of this in time.

Ok, Ok, lets not even get into the Cash For Clunkers deal!!  20,000 dealers across the Nation with $4500 per car ($3500 in certain circumstances) would come out to only 12 cars per dealer. the dealer has to destroy the cars but the 1Billion allowed for this program only gives money for 12 cars per dealer. Most have already exceeded this 12 cars per dealer. Oppsss...........Now what??

Jeff