I never said anything at all about where appraisals come in at. I said that lenders do not have contact with appraisers. The fact is that most appraisals now are coming at list price and some are coming in above. The facts of the matter is that appraisals are nothing but a subjective opinion based upon comparison analysis. While there is a cost to build component in all appraisals it is rarely if ever used. A home is for sale, a few comps are selected and then the appraiser adds or subtracts from each line item based on differences.

Let me ask you all this… Do any of you believe the appraiser actually visits the comps he uses and walks through them? How should the appraiser deal with a situation when the comps are not sufficient? An appraiser goes to the subject property and maybe drive by a few of the comps.

It is very easy to get all ruffled up about this but I hate to tell you all the reality of the situation is much different. You make it sound like an appraisal is easy to do when it really is an OPINION based on a few phone calls, maybe some drive bys and a study of comp analysis.

There are no realtor appraiser arrangements. In JPs case it was not here realtor it was her lender and as I said that is far from the norm.

Try to understand you are in a BUYER driven market.