Of course we realize that if the appraisers would tell the AMC's where to go this situation would straighten itself out in a month...Considering the overhead that these companies have it wouldn't take long...

But then herding stray cats has always been a dream...

I agree with you about the out of area guys they send in.  I guess there's too much pride involved with saying 'that's out of my area'.  I was 9184.

Anthony Vosilla:

I agree that appraisers can be a fairly spineless bunch. 

And we don't have very good organization either compared to brokers with NAR. 

State Licensing kind of killed the ability for us to unite under one organization.  And we don't have an MLS - we use the Realtor's association MLS. 

Also, we just don't have the numbers in our profession that the real estate brokers and agents have and our lobbying stinks.  So there you have it...  Not a real powerful or well-represented profession in Congress or in any State Legislature...

Signed the petition and am going to reblog it.  RESPA continues to be refined to "protect" the consumer and this new regulation only charges the consumers more.  Government contradicting itself.

Done!

Lyn,

For some reason I don't think its a pride thing.  Knowing what goes on you may be getting a TRAINEE who is chasing his/her hours for licencing.....of course the appraisal gets written as did inspect on the right side of the signature page, but there was only one person at the property observation time.  ???

You've all made excellent points but the practical reality is that coercion MUST BE ELIMINATED from appraisals.  If you ever coerced an appraiser--(even providing him/her with a copy of the sales contract is subtle coercion)--consider yourself repudiated. AMC may not be the cure, but the cancer has spread so far--(90% of appraisers report being pressured to hit the number)--that only radical surgery will begin to put the patient (accurate appraisals) on the right path.

Appraisers Under Pressure to Inflate Values

http://www.washingtonpost.com/wp-dyn/content/article/2007/02/02/AR2007020200712.html

Michael Mackey wrote:  Appraisals that used to average $350- 400 now are costing $650-700.

Well, that's the price a consumer pays for an appraisal free of coercion.  In many cases, the extra few hundred dollars will keep the consumer from overpaying for a property deemed extraordinary by two overzealous real estate agents who need the commission to pay their phone bills.

Matt - thanks for posting this, I will be checking this petition out.

It is not only Fannie and Freddie....It is also USPAP

USPAP says:

Standards Rule 1-5


When the value opinion to be developed is market value, an appraiser must, if such information is available to the appraiser in the normal course of business: 14

(a)
analyze all agreements of sale, options, and listings of the subject property current as of the effective date of the appraisal; and
(b)
analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal.15

Comment: See the Comments to Standards Rules 2-2(a)(viii), 2-2(b)(viii), and 2-2(c)(viii) for corresponding reporting requirements relating to the availability and relevance of information.

Also

http://www.appraisalfoundation.org/s_appraisal/bin.asp?CID=12&DID=1282&DOC=FILE.PDF

I've gone and added my signature to the list.  Thank you for bringing this to my attention.  While, I agree there's room for reform, I don't believe this does what it's intended to do.

It's ridiculous that they are requesting this.  So many small appraisal firms will be completely out of business.  What are they thinking?

FYI......

http://www.tampabay.com/news/business/realestate/article1001295.ece