I'm troubled by the appraisers being sent to appraise the areas they are not at all familiar with.
Or, by their being afraid to be taken off the banks' lists if they are a tiny bit less than super conservative. This fear and lack of field expertise are pretty dangerous to the market place and are a disservice to the general public.
If it was possible for the appraisers not to be judged on their "performance" (the more conservative the better performing) by their superiors and banks, I believe the appraisers would be more honest in their value opinions.
If it was possible to easy officially re-buttle the appraisal's results by the realtors, it would be great too.
If the appraiser is not from the area, it would be great to have another appraiser (superior) approve the appraisal (so the value is correct).
Yes, I agree with Cathy - the overhaul of the appraisal practices would improve the market further.
Beachfront Realty, Inc.