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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Reduced appraisals by AMC's and review appraisers Posted by Bob (CA) on May 03, 2010 at 8:46 PM The appraisal management companies are cutting the majority of the appraisals on the deals that I'm involved in and it seems that by doing so it would keep the prices from rising and actually drive prices down by creating lower comps than what a willing buyer and seller would transact at. I have heard this consistently all over CA, from REO agents and buy/sell companies. By creating lower comps wouldn't it place more homeownwers under water thus stimlating more walk aways. More walkaways create more REO's thus lower prices. Wouldn't allowing the prices to increase make existing loans safer and stronger. With the strange appraisal rules and rising taxes it makes more sense to let the lenders, AMC's and those that are in control bring the prices down to ridiculous levels and just pick up rental properties. Buying an unfinancable and vacated fixer, then rehabing it to be the best home in area and then selling to a deserving buyer seems to be a business model that is not encouraged or looked at as being helpful at this time. I would think it would make nicer neighborhoods especially in areas saturated with dilapidated, neglected and vacated houses. Are more investors looking to curtail buy/sell transactions and increase rental portfolios. CA marginal income tax including expiration of tax cuts, increased state taxes and health care tax (if you earn over 250K) appear will be around 54% so why sell if you don't need cash. How will this effect the business. Follow Ups: Re: Reduced appraisals by AMC's and review appraisers BrianH 1:41 PM, 05/04/10 (7) Re: Reduced appraisals by AMC's and review appraisers Bob (CA) 9:42 PM, 05/05/10 (1) Re: Reduced appraisals by AMC's and review appraisers BrianH 9:19 PM, 05/06/10 (0) Re: Reduced appraisals by AMC's and review appraisers Nick 10:09 PM, 05/04/10 (4) Re: Reduced appraisals by AMC's and review appraisers jr 7:35 AM, 05/05/10 (3) Re: Reduced appraisals by AMC's and review appraisers Nick 10:10 AM, 05/05/10 (2) Re: Reduced appraisals by AMC's and review appraisers jr 10:51 AM, 05/05/10 (1) Re: Reduced appraisals by AMC's and review appraisers Nick 2:10 AM, 05/06/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : The appraisal management companies are cutting the majority of the appraisals on the deals that I'm involved in and it seems that by doing so it would keep the prices from rising and actually drive prices down by creating lower comps than what a willing buyer and seller would transact at. I have heard this consistently all over CA, from REO agents and buy/sell companies. : By creating lower comps wouldn't it place more homeownwers under water thus stimlating more walk aways. More walkaways create more REO's thus lower prices. Wouldn't allowing the prices to increase make existing loans safer and stronger. : With the strange appraisal rules and rising taxes it makes more sense to let the lenders, AMC's and those that are in control bring the prices down to ridiculous levels and just pick up rental properties. Buying an unfinancable and vacated fixer, then rehabing it to be the best home in area and then selling to a deserving buyer seems to be a business model that is not encouraged or looked at as being helpful at this time. I would think it would make nicer neighborhoods especially in areas saturated with dilapidated, neglected and vacated houses. : Are more investors looking to curtail buy/sell transactions and increase rental portfolios. CA marginal income tax including expiration of tax cuts, increased state taxes and health care tax (if you earn over 250K) appear will be around 54% so why sell if you don't need cash. How will this effect the business. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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