Appraisal Process Creates Problems

New rules intended to reduce fraud and restrict pressure on appraisers are causing problems for buyers and sellers in Atlanta’s real estate market. The Home Valuation Code of Conduct, established in response to the mortgage crisis, was designed to eliminate the inflated appraisals that were blamed in part for the collapse of the real estate market. The unintended consequence of that the[...]

Housing Industry Professionals Strive to Reform Appraisal Process

The National Association of Home Builders (NAHB) recently hosted a Residential Real Estate Appraisal Summit with federal regulatory agencies and the major housing and financial institution stakeholder and appraisal organizations to discuss constructive solutions to appraisal problems. Among the problems discussed at the summit was the use by some appraisers of foreclosed or other distressed properties as comparables without proper adjustments.[...]