Friday, June 26, 2009
Anyone else out there experiencing the "revenge of the appraisers"; sucking the lifeblood out of home values, all at a time when we can least afford to donate. Have you heard about HVCC? it ain't no heating or air conditioning system. Rather, what we have here is a now over-regulated system that ties the hands of our dear friends, the appraiser and yields withered values that frequently scuttle our hard fought escrows/contracts. It appears that the New York State Deputy Attorney-General's office helped craft this travesty that usurps our core belief that the buyer and seller have agreed on the price for a home. Here comes the Spanish Inquisition that now has the power to give a thumbs up or down to any deal based on such restricted guidelines that it sacrifices price accuracy for political expediency. How can we expect a broad base recovery if only one side of the market is working. I'm referring to foreclosures, reo and short sales. I know many agents are making out like bandits (excuse the expression) while the vast majority of us who work on more traditional sales are being staked though the heart like a dagger. The pendulum has now swung to its extreme again from too easy to too hard. I'm just looking for the middle of the road. Is that stage left or right? I'm just looking for a new direction!