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We are constantly being asked for “comp runs.” Lenders and buyers don’t want to spend money for an appraiser’s expertise. They want to KNOW what a value will be before engaging our services. Although I can appreciate that the cost of an appraisal fee is significant, we just cannot take assignments with value conditions. I do know . . . → Read More: "Comp Runs" In this market, it is getting pretty tough out there for people. On the commercial side, many loans have balloon payments and the owners NEED their values to keep rising. Right now values are at best flat. Over and over I see owner occupied real estate investors who banked on their values rising. . . . → Read More: Yet Another Upside-Down Borrower |
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Control of Appraisers Just Around the Corner
Oh, there are so many things I could say about this. It actually is a smart business move, but goodbye to independence in the residential field! Consolidation has come to most industries; has it finally come to ours? We do commercial and I believe it will be years before something like this hits us, but the . . . → Read More: Control of Appraisers Just Around the Corner