Not reading this blog post will cost you tens of thousands of dollars & hurt your clients

Not had any low appraisal issues since HVCC went into effect in my area. 

Thank you!

Hi June,  I think the prices of homes need to come down so our country gets back to stabilizing and being more competitive with the rest of the world... Too many homes went up too quickly and people's wages & jobs didn't go up fast enough and right now, they are beginning to get back to normal more stabilizing prices... 

In order for us as a North American continent (whether in Canada or the U.S.) we need to have home prices that "really" reflect our current economic status, so we can get back to seriously competing with the world market, so our homes have to come down to more reasonable prices.  Especially, where families can afford to make the payments and not foreclose on them.    ;>))

Hi June I've not really had to many low appraisals.  However I do think the quality of the appraisal has gone down.

June - Thank you for the reblog.

Well,  I guess I'm the only one affected by HVCC in the 4 states I'm licensed in.  Washington, Oregon, California and North Carolina.

My home just appraised very low, wasn't measured and the sq feet was less than my previous appraisals and the county records.  Maybe all of the rain made my house shrink.  Model match, street that intersects mine sold for 35,000 more than my appraised value and we have more amenities.  Wouldn't have anything to do with the home from a completely different subdivion with homes half the price being used as comps.  Great job at appraising....

2 purchase loans in California appraised well below the purchase price and the comps used were not similar.  So it may not affect your area but it is affecting others and I completely disagree with Ann Marie.  I do not think home values are too high.  US has some of the most affordable housing in the world.  Check out Europe, Hong Kong, Berlin, Spain etvc.  They are all very expensive.  We cannot stabilize if appraisers from Los Angels drive 2 hours to San Diego to appraise an area they know nothing about.  HVCC is ineffective.