Dear builders,

Don't cry to me when your new sale doesn't "come in at value" if you let the buyer add $13k in granite countertop (etc) upgrades on a $150k condo ($163k, really?). Especially when you have not had a sale over $151k in a year.

Love,

Charlie B. (your appraiser for life)

Inventing Comparables?

AMC Rep: The lender would like you to add 2 additional comparables within 1 mile and 60 days. 

Me: I used the best comps available, I'll look again to be sure . . . nope, none there that fit those guidelines.

AMC Rep: Do you think you can find them anywhere else? The lender won't fund without this condition

Me: uhhhhhh . . . .

The HVCC is going to go away?

The answer is no, and it sickens me that, mostly Realtors, are the ones trying to spread this rumor around. It sickens me only because almost everything that comes out of the NAR's mouth is either completely naive or a downright lie (where is the government intervention into THEIR abuse of the people's trust?).  Even if what we call "the HVCC" changed names, the systems and policies would still be in place. What percentage of your appraisal orders come from AMC's that are not owned by the end lender itself? If you are like me, almost 100% of appraisals you do are for lender owned Appraisal Management Companies. That chunk of your fee the AMC took, who do you think ends up with that? Does anyone think that if the lenders are no longer legally obligated to use an AMC that they are going to give up the revenue stream?

Welcome To My New Blog

For those of you that follow me over at my other blog, lendervendorders.blogspot.com, this is going to be my outlet for non-Lendervend posts and information.  I will still be maintaining and posting to my Lendervend Orders blog, but I wanted a place where I could do more general appraising posts.