Sellers Cutting Prices Due to Low Appraisals - Realtors say conservative appraisals holding back housing recovery

Realtors complain that conservative appraisers are putting the kibosh on a housing recovery. Some complain that many qualified appraisers are deterred by the lower fees they receive from appraisal management companies -- leaving less qualified appraisers from outside the local area to perform valuations.

But appraisers say that the fair market values in their reports only reflect current real estate conditions, and lenders can't be too cautious given the losses they have suffered during recent years.