Wednesday, December 15, 2010

Your Home Value - Do Appraisers Even Know What It's Worth?

Over the last two years, I've been lamenting about the fact that appraisers are valuing homes brutally low with little reasoning or accountability.  We've gone from appraising homes at artificially high values to appraising them at artificially low values (to an appraiser, apparently every home looks like the one on the left).  Or as Walter Molony of the National Association of Realtors puts it, "There's been a pendulum swing in appraisals comparable to the one we've seen in mortgage credit, from foolishly lax to overly restrictive."This special report from Reuters documents the frustration and struggles that homeowners are having with trying to get a fair and reasonable home value assessment:

Reuter's Special Report: What's Your Home Worth?  Pick A Number, Any Number

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