Petition to change the Home Value Code of Conduct

Reblogger
Real Estate Agent with Benchmark Realty

Friends,

There has been progress made in trying to strengthen the real estate market.  This new appraisal law charges the consumer 50% more for an appraisal and drives independent appraisers out of work.  Sometimes regulations need to be added, but this is way over the top.  Visit Matt's blog for some interesting comments.

Monica

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:

http://www.petitiononline.com/hvcc/petition.html

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 8,900 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.

:)

Matt

NCF

Credit Repair Company

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This posting and the contents written here are the intellectual property and opinions of Monica Neubauer. Monica is a Realtor with Benchmark Realty in Brentwood, TN. She provides real estate services to clients in the Nashville area, including Nashville, Franklin, Brentwood, Spring Hills, Thompsons Station,  and other areas in the Middle Tennessee Region. You can contact her by calling 615-568-8384 or visit www.FranklinTNBlog.com .

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