HVCC: Housing Industry working with Cuomo on Appraisal issue

Any time a job can be done with no accountability it will lead to poor work. HVCC gives no accountability to appraisers. Yes, I am a Realtor and I do a high volume of business. Over the past 3 months I have had 12 homes not appraise. They weren’…t bid to crazy prices. I met most of the appraisers with justifiable and relative comps to no avail. When the appraiser is getting paid 1/2 the normal fee, the other half going to the new appraisal company, then the appraiser must do double the work to make a normal income. With 75% of sales being bank owned or Short Sales, there must be adjustments. In order to get a buyer to wait the normal 4 to 6 months to close a Short Sale, they must be compensated for the time and risks they are taking. Many short sales sell for 5 to 10% below market. I really wish the people in the field can assist in new laws, maybe then they would do some good. This law is robbing homeowners of true market value, delaying closings and causing issues with the system.