Charles Milan, President of the
National Association of Realtors, is gearing up to derail the
Home Valuation Code of Conduct. Complaints include rising appraisal costs, increased turnaround times, delayed closing, and lost sales. Much of the problem is caused by the inexperienced appraisers, or appraisers unfamiliar with the market area, that are often used by powerful appraisal management companies as these appraisers are the only ones willing to do an appraisal for approximately half of the usual appraisal fee. The NAR’s army of lobbyist will be promoting an 18 month delay in implementation of HVCC to study the unintended effects of this recent legislation. In my humble opinion, your NAR dues are being very well spent. For more information:
http://www.02038.com/2009/06/hvcc-closing-delays/