Petition to change the Home Value Code of Conduct

Reblogger Tere Rottink
Real Estate Agent with CoastalVa Realty Inc

This post comes via Matt Listro.  Also read the comments on his post, they are very informative

Original content by Matt Listro

Petition to change the Home Value Code of Conduct


 Here is a link to the petition to change the Home Value Code of Conduct:

It is important for everyone to go and sign the petition if this law is going to be changed.  How many appraisers do you know who have been put out of business by this new law? 

I personally know one appraiser who has no work because of this new law.  He was charging $325 for an appraisal.  Now he has no work because his mortgage brokers can not order appraisals from him.  He was just solicited by one of the big conglomerate Appraisal Management Companies to work for them.  The AMC is charging $450 for an appraisal and is only willing to pay him $200 per appraisal.  What ever happened to democracy and competition - this guy was just legislated out of his job!

Let me ask you another question: how long will it be until you have a real estate deal go south because of this new law.  Because of this new law, appraisals are expected to cost more and take longer.  What happens when your deal falls apart because the value doesn't come in because an appraiser was assigned from 50 miles away and doesn't know the local market.

Currently their are 9,000 signatures but they need lots more - please take a moment and sign it. 

PLEASE PLEASE FLAG this post for feature status - it is imperative that the real estate community gets behind this move to change this legislation.




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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Tere, I've heard of this in our area also. Appraisers who chose not to work for a huge firm, out of state, will be out of business in no time...

May 12, 2009 02:29 AM #1
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi Tere: Thank you for the re-blog.  This is a huge issue for appraisers / brokers / AND Realtors.  Anything that makes the process of buying real estate more expensive and difficult (as this law clearly does) is going to hinder the real estate business as a whole.


May 12, 2009 08:14 AM #2
Respect Realty LLC
Respect Realty LLC - Milwaukie, OR
Brokers - Oregon / SW Washington Real Estate

Just signed to have this nightmare rule repealed. I've already had it affect one sale and if I can stop it from affecting others great!


May 14, 2009 06:14 PM #3
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