Happy 4th of July to all!
As I work every day on deals, both standard sales and REOs, it seems to me that the Valuation Industry is beginning to shift from ultra-conservative to more accepting of values presented by the listing agents. This, I think, is due in part to a combination of a more stable market, listing agents doing better research on pricing, and sellers being more reasonable when valuing. Now, I have admittedly had a couple of very bad appraisals over the past few weeks but this was due to appraisers not understanding the subject and utilizing the wrong comps.
My advice to all real estate agents, both new construction and resale, take a formal appraisal class. There you can learn how appraisers view their job duties, the standards that they should adhere to, and equip yourself with the tools necessary to point out inconsistencies should you receive what you consider to be bad valuations.
Happy Selling!!!
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