Appraisers rated low

Article by: JANE FRIEDMANN
Updated: March 21, 2011 - 4:57 PM

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loveylou1947Mar. 19, 1111:12 PM

I just had my house appraised and they used 3 short sales to do it...I'm thinking maybe this isn't right either!

eacaffreyMar. 20, 1112:40 AM

lovelylou1947, it would depned on whether short sales are the dominant type of sale in your area. In some areas it would be entirely inappropriate, in others it would be quite appropriate.

aonealphaMar. 20, 11 5:37 AM

About time appraisers are held accounable. They have inflated their appraisals in the Twin Cities market by 15 - 35% for the past five years according to one industry study. Not a fan of governmen, but in this case govt is doing a true servie to hone buyers and mortgage lenders.