[ddrhazy]

Originally Posted by strato58

As an appraiser I am not an expert in your marketplace because im in NJ. But I do know some of the things you have posted are 100% incorrect. For that, as a professional I ask you to watch what you post. Appraisals are market value not what the lender wants to lend on...amongst other inaccuracies you have posted...too numerous to go over here. Best to you but more importantly best to prospective purchasers. I recommend they contact an appraiser in their local market to find out if they are getting hosed.

Strato, who are you kidding? Most of the work appraisers do is look at previous sales.

[strato58]

What do you think is going to happen when Consumer Financial Protection reduces the debt ration from 47% to 43% in January? Oh you have your cash buyers...sorry I forgot

[strato58]

Originally Posted by ddrhazy

Strato, who are you kidding? Most of the work appraisers do is look at previous sales.

You have no idea of the nonsense that is involved with this job now. Try it sometime

[ddrhazy]

It must be nice to answer in vagaries when someone gives concrete examples.

[strato58]

Originally Posted by ddrhazy

Strato, who are you kidding? Most of the work appraisers do is look at previous sales.

Well that is how the market data approach to value is developed...that is one of the approaches to value, along with cost and income. How else are you suppose to do that approach? One day you should try writing a report then sending it to an underwriter....just for kicks and grins. See how much fun it is.

[ddrhazy]

Originally Posted by strato58

Well that is how the market data approach to value is developed...that is one of the approaches to value, along with cost and income. How else are you suppose to do that approach? One day you should try writing a report then sending it to an underwriter....just for kicks and grins. See how much fun it is.

It's paperwork, every desk job has it. What LVOC describes in the industry is true(that the appraisals lag due to fear from the bank to over loan on a potentially bad debt). There's no need to argue about it, anyone who's in the biz knows it.

[strato58]

Originally Posted by ddrhazy

It must be nice to answer in vagaries when someone gives concrete examples.

What type of concrete example would you like to see? I recently appraised a 300+ year old home in Newark NJ called the Sydenham House. Google it...its one of the oldest privately owned residential homes. No it was not fun and underwriters are difficult..you want to come out with me one day and help me write a report? Come on by.

[strato58]

Nothings lagging except the bubble your creating...stop the nonsense. If you have strong comps then supply the appraiser with them..make sure they are comps and not just numbers you want to see

[strato58]

Originally Posted by ddrhazy

It's paperwork, every desk job has it. What LVOC describes in the industry is true(that the appraisals lag due to fear from the bank to over loan on a potentially bad debt). There's no need to argue about it, anyone who's in the biz knows it.

The banks have no fear to over loan...that's just stupid. If the house can appraise they will loan.

[ddrhazy]

Yes, I personally am creating the volatility in the market. Do you repeat what you type on the computer to process how ridiculous it sounds? Try it out sometime.