"You can't tell me that the appraiser didn't know that there was a huge problem if there haven't been any sales over $200,000 in that community. Yes. I can tell you exactly that. Even after sending you the apprasial report we don't KNOW if the value is right. We don't KNOW the value because the value is AN OPINION. And the opinion is based on a hypothetical sale that never occured and never will occur (because the appraisal is one day and anything after that day is a new day and..."    View Post

"Bob V-G: I'm not being a smartass either. I can tell within minutes wether a loan applicant will be approved based on their income, credit, assets (sans appraisal).I believe good appraisers can do the same. Sometimes (most of the time) as soon as I see a property address an opinion will pop into my head within a few seconds. Just as often, after interviewing the property owner when setting the appointment, another opinion (way different) will pop into my head. Then when I get there and relize..."    View Post

"Stephen Ames: I don't understand the name calling, don't those brokers pay your bills?... No, not really. I understand why you might have gotten steamed up about being lumped in with boiler-room boys. Obviously that's not your business model just like it's not really the business model of most of the brokers and agents who participate on this blog and "the other one." Between you and me, there isn't really anything wrong with an appraiser discussing an assignment with..."    View Post

"Better be careful about buying an REO at this time unless you're just looking for a house you like and want to live in for a while."    View Post

"I think the patently dishonest ones are far outnumbered by the just plain dumb-a$$es. A lot of unsophisticated work-a-day folks refinancing their homes using toxic neg-am loans to buy a lot and built a spec house or jerks trying out the get rich quick real estate schemes advertised on late night paid programming. Not to mention those that bought up a bunch of properties for rentals not realizing that rental rates were not going up along the same curve as sales prices or not realizing what the implication..."    View Post