DEAR BENNY: My husband and I are in the process of purchasing a newly built home. We are scheduled to close within the next two weeks. All that was left was the appraisal for our lender. The first appraisal was ...Read More »
CHARLOTTE – The city is looking for a “stable of appraisers” at Charlotte Douglas International Airport mainly for future land purchases, according to CLT Spokeswoman Lee Davis. On Monday, the city issued a request for qualifications from firms interested in ...Read More »
When I started writing this real estate column in June 1971, the average mortgage rate was 7.53 percent, according to Freddie Mac. The median home price was $26,100. Today, the trend is definitely upward, with occasional short-term dips to remind us of the market's volatility.Read More »
Last fall, a company called ES Appraisal Services, based in Florida, went bankrupt. That the company went under isn’t unusual, as companies fold every day. But ES was the latest of three appraisal management companies that went out of business recently, all with the same troubling trend for real estate appraisers.
Tagged with: AppraisersRead More »
In 2009, about two years after the real estate market started its collapse, a new federal law took effect. The federal Home Valuation Code of Conduct was created to reduce conflicts of interest in the process of appraising homes. Real estate agents and brokers were no longer allowed to order appraisals. Lenders were now in control of doing that, and demand for appraisal-management companies shot up.Read More »