Recently I posted a blog Sales Of Existing Homes And REO Hurt By Poor Appraisals!!! to ActiveRain, LinkedIn, REOPro and Facebook. Quite frankly I was surprised by the number of real estate agents, loan officers and even appraisers who commented on the challenges they've been having with the new appraisal process. The real estage agents were not pleased with the values given to them by the appraisers, the loan officers had issues with the constraints the sellers are putting on them and the poor appraisers are taking heat from all sides for giving too low or too high values!
Here is a link someone provided from bloomberg article regarding the home valuation code of conduct (HVCC) that went into effect on May 1st. The HVCC will have a negative impact on price declines.
Last but not least here is a link to sign a petition to do away with the new appraisal system that does not work!
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