Atlanta Real Estate Blog

I'm Pretty Sure This is how Appraisals are Performed Now

If this isn't how they are done, it might be obtained by taking a sledgehammer and hitting one of those strongman devices you find at a carnival that has been altered to show prices.

I don't know that I blame appraisers. It's a difficult task when you are trying to appraise a property in an area that you are unfamiliar with. Because of HVCC, we find ourselves in a new era where appraisers are being asked to perform a job for less money than ever before and simultaneously perform fewer appraisals because of the reduction in sales volume. A good portion of the income that appraisers used to make is now taken by the Appraisal Management Companies. What this is really about is how the Federal Government has caused greater harm with it's solution than they ever anticipated. The unintended consequences of HVCC may actually be hurting the real estate market more than helping by further pressuring prices down.

There is a Petition to Reverse HVCC

Take a minute, follow this link, watch the short video and maybe sign a petition to help permanently reverse HVCC.  It's quite interesting.

The only entity who benefits from low appraisals are banks. Now, I want to be clear; I am not a bank-hater. There are plenty of people who think they deserve everything they get, but, I am not one of them. Banks are eating more bad loans from people who very well may have committed mortgage fraud with their "stated" income loans and the other things going on like short sales, etc...I appreciate lenders wanting safe loans, but, I think this may be unfairly padding extra equity that does not belong to them.

If I'm not mistaken, I believe that FHA loans will not...

3rd Quarter Metro Atlanta Statistics - The Overview of the Real Estate Market

This information is compiled by Chartmasters for Keller Williams Realty Consultants. It is far more comprehensive and accurate than what you may find in the AJC or anywhere else. I am fortunate to work with an organization who can provide its agents critical information that we can use to help clients in a market that requires this information more than ever. It's also right up my alley as I enjoy understanding the market. This is a graphics heavy post of charts so if you have any questions, please reply in the comments below and I will answer or clarify anything you may see. As soon as I can find a link, I will post the credit to Chartmasters, I just can't seem to find it online right now. Nevertheless, the charts below will shed some light on what is really happening in this market. Information like this can empower you to make a decision about real estate more than anything else...