http://www.realestateappraisertips.info/ – Re-Appraising The Home Appraisers. The Wall Street Journal’s James R. Hagerty reports on Reappraising Home Appraisers
A snippet from the article reads,
“Ms. Salazar, an appraiser for the past 12 years, says she researched the Cathedral City market carefully and did a good job. But many real estate agents and mortgage brokers charge that some wandering appraisers are coming up with dubious estimates. Too many appraisers are getting assignments in places where they “just don’t know the nuances,” says Rick Turley, who oversees the San Francisco Bay area for the Coldwell Banker real-estate-brokerage chain.” The link to the article.
As a home appraiser, I would agree that AMCs are squeezing appraisers way too hard in the “peanuts” of the fees they want to pay for their no-compromise 24 to 48 hour turn-around times they expect. HVCC is having a very sad impact upon the appraisal profession as a whole. Instead of the “Appraiser Independence” that HVCC was supposed to create, HVCC is creating an “AMC Dependence” for appraisal orders and there’s very few appraisers in the U.S. that wanted this shoved down our throats this way. Post HVCC (5/1/2009), many appraisers have taken a 36% paycut thanks to Cuomo and this ill-conceived HVCC. That is not sitting well with appraisers across this country.
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{ 1 comment… read it below or add one }
Really good information ! Thanks a lot for this useful post !Good post!
You should write more about this!