2012-06-15mortgagedaily.com

Even after a seller and a buyer agree on a sales price, low appraisals are frequently forcing sellers to lower the price or prompting buyers to come up with bigger down payments.

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.



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