The Media Finally Caught On

While researching material for my book (“Buying a Home? 10 Questions You Must Answer"), I stumbled upon an article on CNN, which speaks to the issues discussed in my “Impact of Government Intervention” course.

The article addresses the impact of appraisals and how it affects loan approval.

Good for the media, they are finally reporting on things you as a real estate professional already know.

Remember to keep asking the questions of your local and regional banks, credit unions, etc. Find out how they are reviewing appraisals; is it through AVM’s, Field Reviews, 2nd appraisals or BPO’s.

Also, do not forget to find out the costs associated with these “review” appraisals as many times the buyer ends up paying for them.