From the category archives:

Appraisals

Deus Ex Machina: Did a Computer Kill Your Deal?

by Alex Stenback 08.12.2009

I’ve never delivered a low appraisal, but I’ve seen a few high sales                                                                        -Anonymous Real Estate Appraiser  When buying a home, if you pay cash, you can pay any price you want.  But if you are borrowing any of the money, there are rules. Chief among them:  Your lender will obtain an appraisal on the property to [...]

1 comment Read the full article →

Defending the Scapegoats: What is ‘Wrong’ with the Appraisers?

by Alex Stenback 06.25.2009

Of any party to a real estate transaction, the one I would least like to be right now is a residential appraiser.  On top of the fact that their fees have effectively gone down (on both a relative and nominal basis) over the past ten years, they are quickly being cast as the scapegoats for [...]

1 comment Read the full article →

Around the Horn: Bernanke on Principal Writedowns. Appraisal Code-of-Conduct Coming Soon

by Alex Stenback 03.04.2008

A couple of interesting developments in the mortgage world that are worth pointing out: Bernanke: Lenders Should Be Writing Down Principal on Troubled LoansSpeaking at the Independent Community Bankers Conference [full text of remarks]: "In this environment, principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding [...]

14 comments Read the full article →

Born Again: Appraisers, Lenders, Find Jesus

by Alex Stenback 01.12.2008

From Jim Buchta in Today’s Star-Tribune:  Eroding Home Appraisals Latest Blow to Buyers, Sellers: [W]ith house prices falling and the mortgage markets in disarray, more consumers are feeling the effects of a crackdown on appraisals by lenders and regulators… "We’re paying more attention to the overall economics of where a house is located, how many [...]

3 comments Read the full article →