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Realtors press for bogus appraisals


By tovarichpeter   Follow   Sun, 18 Nov 2012, 2:02am PST   795 views   5 comments
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http://www.ocregister.com/articles/appraisal-377995-appraisers-sales.html

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upisdown   Sun, 18 Nov 2012, 2:28am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 1

That's a pretty good article, and I especially like the appr. mgmt companies being owned by banks.

I've told numerous friends and others to ignore what the appraisal is, because it's just a BS number for the banks. I've told them to determine what they will pay, with a little fudge room up or down and go with that, and don't allow emotions into the decision. It's just a house, and there's definitely more than one of them available.
A $500 ink pen is only worth that if somebody actually will pay that price.

zzyzzx   Sun, 18 Nov 2012, 3:23am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 2

Hmmmm:

Robinson said a buyer offered to pay $317,000, but the appraisal came in at $310,000 – the price at which another home in the neighborhood recently sold.

Further down in the article:
In the case of Robinson's townhome, the appraiser could not be reached for comment, and it's unclear what adjustments might have been made. The townhome eventually sold, Robinson said, but for about $6,000 less than what she and the buyer initially agreed on.

So the house that the appraiser appraised at $310,000 sold for $311,000, and they are complaining about an appraiser whose accuracy is that good?

APOCALYPSEFUCKisShostikovitch   Sun, 18 Nov 2012, 5:33am PST   Share   Quote   Permalink   Like (7)   Dislike     Comment 3

They're used to appraisers who ask, "What's this fucking shithouse supposed to be worth this afternoon?" Take the answer from the broker and write it down.

mell   Sun, 18 Nov 2012, 6:27am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 4

APOCALYPSEFUCK is Shostakovich says

They're used to appraisers who ask, "What's this fucking shithouse supposed to be worth this afternoon?" Take the answer from the broker and write it down.

Hehe - epic!

jvolstad   Sun, 18 Nov 2012, 10:01am PST   Share   Quote   Permalink   Like (6)   Dislike     Comment 5

Who cares what the Realtards think. They would sell their own children for a commission.

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