Home Valuation Code of Contact.

IMO the lenders were using the Federal Government to make more money.
The legislation obviously distorted the market.
Now one of the big players says – hold on sure you lenders are able to make more money by controlling the appraisers but we need good comps. Not the ones your crappy out of town appraisers are providing.

Let me just say, the upside down market had been very good to me. But, I am concerned about our children’s future.

My concern is that the banks and Congress are doing everything possible to make sure that we have an upside down real estate market for 5-10 years. San Diego may recover a little more quickly but I expect to be doing short sales for at least 3 more years.

appraisals real estate prices and San Diego short sales

REALTOR® Magazine-Daily News-Freddie Mac Calls for Appropriate Comparables: “Freddie Mac Calls for Appropriate Comparables
A July 10 lender bulletin from Freddie Mac says appraisers ‘must be familiar with the local market,’ select ‘appropriate comparable sales,’ and certify them as ‘most similar’ to the property in question.”