Those darn appraisers … it’s all their fault!

[aldante]

[quote=PadreBrian]South Florida. :rollingeyes:

The appraisers are just doing their job. [/quote]

Now they are? Ok if you say so. I wonder what they were doing during the run up from 2001-2007?

[ibjames]

[quote=aldante][quote=PadreBrian]South Florida. :rollingeyes:

The appraisers are just doing their job. [/quote]

Now they are? Ok if you say so. I wonder what they were doing during the run up from 2001-2007?[/quote]

talking to realtors and finding out what the house needs to be appraised at?

now they walk in, no realtors, no nothing, just comps and looking at the house..

is that unfair?

[ibjames]

[quote=aldante][quote=PadreBrian]South Florida. :rollingeyes:

The appraisers are just doing their job. [/quote]

Now they are? Ok if you say so. I wonder what they were doing during the run up from 2001-2007?[/quote]

talking to realtors and finding out what the house needs to be appraised at?

now they walk in, no realtors, no nothing, just comps and looking at the house..

is that unfair?

[ibjames]

[quote=aldante][quote=PadreBrian]South Florida. :rollingeyes:

The appraisers are just doing their job. [/quote]

Now they are? Ok if you say so. I wonder what they were doing during the run up from 2001-2007?[/quote]

talking to realtors and finding out what the house needs to be appraised at?

now they walk in, no realtors, no nothing, just comps and looking at the house..

is that unfair?

[ibjames]

[quote=aldante][quote=PadreBrian]South Florida. :rollingeyes:

The appraisers are just doing their job. [/quote]

Now they are? Ok if you say so. I wonder what they were doing during the run up from 2001-2007?[/quote]

talking to realtors and finding out what the house needs to be appraised at?

now they walk in, no realtors, no nothing, just comps and looking at the house..

is that unfair?

[ibjames]

[quote=aldante][quote=PadreBrian]South Florida. :rollingeyes:

The appraisers are just doing their job. [/quote]

Now they are? Ok if you say so. I wonder what they were doing during the run up from 2001-2007?[/quote]

talking to realtors and finding out what the house needs to be appraised at?

now they walk in, no realtors, no nothing, just comps and looking at the house..

is that unfair?

[4plexowner]

recent talk of ‘bad’ appraisals is truly amusing

one of the reasons being given for the ‘bad’ appraisals is that only local appraisers are familiar with ‘special situations’ in a local market

yeah, well, BS!!!

appraisals are based on comps whether they are performed by a San Diego appraiser or an appraiser in Alabama

you might argue that ‘special situations’ like views can only be evaluated by a local appraiser but I would counter that a view is only worth what someone is willing to pay for it – if comps don’t support the premium being charged for a view then the difference comes out of the buyer’s pocket

~

here’s a few articles that might be of interest – not about appraisals – just the market in general

Fannie, Freddie asked to relax condo loan rules
http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622
[4plex: the fact that banks are dis-favoring condo loans should tell you something about ‘investing’ in a condo]

Economy Can Strengthen Only When Housing Prices Do
http://online.wsj.com/article/SB124587097965549129.html?mod=googlenews_wsj
[4plex: yep, the economy is screwed as long as real estate values continue to drop – won’t change until 2014 or so regardless of the foreclosure moratoria, bank bailouts, etc]

Obama’s Mortgage Refinancing Program May Be Expanded
http://www.bloomberg.com/apps/news?pid=20601087&sid=avAvJacs7UcU
“Fannie Mae and Freddie Mac may get permission to begin refinancing mortgages with loan-to-value ratios above 105 percent as the Obama administration seeks to boost participation in its anti-foreclosure programs. ”
[4plex: see my previous comment]

New-Home Sales Stagnant Despite Hopeful Predictions
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/24/AR2009062401232.html
“down 32.8 percent compared with the same period last year”
[4plex: I wonder why none of the polyannas on this forum chose to post this article?]

[4plexowner]

recent talk of ‘bad’ appraisals is truly amusing

one of the reasons being given for the ‘bad’ appraisals is that only local appraisers are familiar with ‘special situations’ in a local market

yeah, well, BS!!!

appraisals are based on comps whether they are performed by a San Diego appraiser or an appraiser in Alabama

you might argue that ‘special situations’ like views can only be evaluated by a local appraiser but I would counter that a view is only worth what someone is willing to pay for it – if comps don’t support the premium being charged for a view then the difference comes out of the buyer’s pocket

~

here’s a few articles that might be of interest – not about appraisals – just the market in general

Fannie, Freddie asked to relax condo loan rules
http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622
[4plex: the fact that banks are dis-favoring condo loans should tell you something about ‘investing’ in a condo]

Economy Can Strengthen Only When Housing Prices Do
http://online.wsj.com/article/SB124587097965549129.html?mod=googlenews_wsj
[4plex: yep, the economy is screwed as long as real estate values continue to drop – won’t change until 2014 or so regardless of the foreclosure moratoria, bank bailouts, etc]

Obama’s Mortgage Refinancing Program May Be Expanded
http://www.bloomberg.com/apps/news?pid=20601087&sid=avAvJacs7UcU
“Fannie Mae and Freddie Mac may get permission to begin refinancing mortgages with loan-to-value ratios above 105 percent as the Obama administration seeks to boost participation in its anti-foreclosure programs. ”
[4plex: see my previous comment]

New-Home Sales Stagnant Despite Hopeful Predictions
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/24/AR2009062401232.html
“down 32.8 percent compared with the same period last year”
[4plex: I wonder why none of the polyannas on this forum chose to post this article?]

[4plexowner]

recent talk of ‘bad’ appraisals is truly amusing

one of the reasons being given for the ‘bad’ appraisals is that only local appraisers are familiar with ‘special situations’ in a local market

yeah, well, BS!!!

appraisals are based on comps whether they are performed by a San Diego appraiser or an appraiser in Alabama

you might argue that ‘special situations’ like views can only be evaluated by a local appraiser but I would counter that a view is only worth what someone is willing to pay for it – if comps don’t support the premium being charged for a view then the difference comes out of the buyer’s pocket

~

here’s a few articles that might be of interest – not about appraisals – just the market in general

Fannie, Freddie asked to relax condo loan rules
http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622
[4plex: the fact that banks are dis-favoring condo loans should tell you something about ‘investing’ in a condo]

Economy Can Strengthen Only When Housing Prices Do
http://online.wsj.com/article/SB124587097965549129.html?mod=googlenews_wsj
[4plex: yep, the economy is screwed as long as real estate values continue to drop – won’t change until 2014 or so regardless of the foreclosure moratoria, bank bailouts, etc]

Obama’s Mortgage Refinancing Program May Be Expanded
http://www.bloomberg.com/apps/news?pid=20601087&sid=avAvJacs7UcU
“Fannie Mae and Freddie Mac may get permission to begin refinancing mortgages with loan-to-value ratios above 105 percent as the Obama administration seeks to boost participation in its anti-foreclosure programs. ”
[4plex: see my previous comment]

New-Home Sales Stagnant Despite Hopeful Predictions
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/24/AR2009062401232.html
“down 32.8 percent compared with the same period last year”
[4plex: I wonder why none of the polyannas on this forum chose to post this article?]

[4plexowner]

recent talk of ‘bad’ appraisals is truly amusing

one of the reasons being given for the ‘bad’ appraisals is that only local appraisers are familiar with ‘special situations’ in a local market

yeah, well, BS!!!

appraisals are based on comps whether they are performed by a San Diego appraiser or an appraiser in Alabama

you might argue that ‘special situations’ like views can only be evaluated by a local appraiser but I would counter that a view is only worth what someone is willing to pay for it – if comps don’t support the premium being charged for a view then the difference comes out of the buyer’s pocket

~

here’s a few articles that might be of interest – not about appraisals – just the market in general

Fannie, Freddie asked to relax condo loan rules
http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622
[4plex: the fact that banks are dis-favoring condo loans should tell you something about ‘investing’ in a condo]

Economy Can Strengthen Only When Housing Prices Do
http://online.wsj.com/article/SB124587097965549129.html?mod=googlenews_wsj
[4plex: yep, the economy is screwed as long as real estate values continue to drop – won’t change until 2014 or so regardless of the foreclosure moratoria, bank bailouts, etc]

Obama’s Mortgage Refinancing Program May Be Expanded
http://www.bloomberg.com/apps/news?pid=20601087&sid=avAvJacs7UcU
“Fannie Mae and Freddie Mac may get permission to begin refinancing mortgages with loan-to-value ratios above 105 percent as the Obama administration seeks to boost participation in its anti-foreclosure programs. ”
[4plex: see my previous comment]

New-Home Sales Stagnant Despite Hopeful Predictions
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/24/AR2009062401232.html
“down 32.8 percent compared with the same period last year”
[4plex: I wonder why none of the polyannas on this forum chose to post this article?]

[4plexowner]

recent talk of ‘bad’ appraisals is truly amusing

one of the reasons being given for the ‘bad’ appraisals is that only local appraisers are familiar with ‘special situations’ in a local market

yeah, well, BS!!!

appraisals are based on comps whether they are performed by a San Diego appraiser or an appraiser in Alabama

you might argue that ‘special situations’ like views can only be evaluated by a local appraiser but I would counter that a view is only worth what someone is willing to pay for it – if comps don’t support the premium being charged for a view then the difference comes out of the buyer’s pocket

~

here’s a few articles that might be of interest – not about appraisals – just the market in general

Fannie, Freddie asked to relax condo loan rules
http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622
[4plex: the fact that banks are dis-favoring condo loans should tell you something about ‘investing’ in a condo]

Economy Can Strengthen Only When Housing Prices Do
http://online.wsj.com/article/SB124587097965549129.html?mod=googlenews_wsj
[4plex: yep, the economy is screwed as long as real estate values continue to drop – won’t change until 2014 or so regardless of the foreclosure moratoria, bank bailouts, etc]

Obama’s Mortgage Refinancing Program May Be Expanded
http://www.bloomberg.com/apps/news?pid=20601087&sid=avAvJacs7UcU
“Fannie Mae and Freddie Mac may get permission to begin refinancing mortgages with loan-to-value ratios above 105 percent as the Obama administration seeks to boost participation in its anti-foreclosure programs. ”
[4plex: see my previous comment]

New-Home Sales Stagnant Despite Hopeful Predictions
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/24/AR2009062401232.html
“down 32.8 percent compared with the same period last year”
[4plex: I wonder why none of the polyannas on this forum chose to post this article?]

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