Think Big Work Smallis my morning dose of lender fyi…. and did I mentioned they are interesting? Yes it is a great time to re-finance your home…. I’m seeing 4.5 interest rates, yes I am experiencing REALLY bad apprasals out there (as well as appraisers) and the biggest obstacle in this process is the AMC (middle man) that can’t manage. Another blog. TAKE A WATCH AT THE VIDEO!!! 
-Kristie McD.
Firstly, there are some great appraisers out there. However, Scott & I have had more than a fair share of of appraisal issues lately. Real Estate Agents… if you are experiencing similar pains PLEASE send a professional but stern statement to the email address below. There are also additional names & numbers to vent to in the below link as well as a summary of what’s going wrong. Don’t forget to link to and sign the petition below to stop HVCC.
Back in the day of skyrocketing home sale prices between 2001 – 2006 the appraisal of a home you’re buying
(or selling) was of very little concern to buyers, Realtors, lenders etc because it almost seemed as though appraisers were asking the lenders “what do you need it to appraise for?” before doing the appraisal…no accusations here, but there was some funny business going on and it was one of many factors that encouraged the housing bubble to burst. Since then appraisers have completely reversed course and potentially to the detriment of the market.
Effective on May 1st of this year, it is said that lenders, mortgage brokers and the like will no longer be able to utilize their own pool of appraisers but that they will be required to pull from a general pool or “collection” of them. Of course we can see why it has come to this with so much weighing on a good appraisal that meets or beats the home’s sale price HOWEVER what concerns me is the number of horrible appraisers that are now going into the pool for business that in all honesty aren’t good enough to even dangle their toes in the water. The really good appraisers are now being lumped in with all the “leftovers”…