appraisal issues: Do Appraisers Have You Running Scared? - 08/21/11 04:35 AM

I heard it again yesterday from a potential seller - Appraisers are just suppressing our home values!  The word has finally reached the more informed public, there are challenges in selling the home and now the blame is being aimed at the appraisers. The thought of appraisers can bring a chill up the spine and a big gulp, will I have a valuation issue?
Finally, the difficulty of the home value challenge has shifted some from the agent onto the hurdle of the appraisal.  It use to be when I delivered the message about the value estimate of the … (50 comments)

appraisal issues: Keeping It Within the Box - 08/03/11 11:17 AM
Thanks to HVCC requirements we now have this box that the appraisal report must neatly fit.  No out of the box thinking allowed, it MUST conform all into a tidy package, no rough edges sticking out, no room for a little fluff on top.  Just a plain vanilla box sealed to perfection.
Enter Real World properties.  Homes are unique and not all are clones of each other, many points of difference and heaven forbid if they are located in an area where a move is rare .. no recent sales activity. 
As REALTORS, we need to be able to … (9 comments)

appraisal issues: What Do You Do When There Are No Comparable Sales? - 07/19/11 01:34 PM
So what do you do when you have a unique property or a home that is located in an area where there has been no sales, or very limited ones that have taken place?
Playing ostrich with your head buried in the sand and pretending you don't see the problem or better yet it will simply disappear will not get the task before you accomplished.

It begins with the end in mind as the saying goes ... when you first visit the home and then work on an analysis red flags will wave.  At that moment, as … (21 comments)

appraisal issues: Appraisal Management Companies - Do they Make the Cut? - 02/17/11 12:13 AM
 Or should I reword .. Did They Give Your Sales Price the Cut?  This seems to be the big chat at the water cooler in the real estate offices ... Appraisal Management Companies and the questions concerning the appraisal products that come from them. 
These companies formed to offer a convenient service to outsource appraisal assignments for lending institutions that did not have the ability to have staff appraisers in the past or financial means to set up a quality pool of appraisers to draw from themselves.  With the Round Robin requirement that appraisers must be an  independent random selection, these companies have become more … (8 comments)

appraisal issues: Appraisal Problems? Blame the Appraiser - Maybe Not - 02/02/11 07:21 AM

Appraisal Challenges.. one of the most discussed issues around the water cooler of a real estate office.  Often the conversation immediately points to the incompetent appraiser who was assigned and all sympathetic Realtors give a nod of agreement. 
Let's lynch the sorry appraiser, lets turn in him to the state for poor work, lets complain to the lender and get him/her out of the business .. all Realtors are now fired up to take action.  Step back my friends and reflect on the issue at hand, is it the appraiser (now known as SOB) or could there be other … (8 comments)