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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (6955)	11/19/2002 8:30:54 PM
From: Tradelite	Respond to of 306849

<<Of course not, because then you'd get some fluffed up valuation during declining periods like now... >> Lizzie, what you said is an insult to appraisers everywhere. They are, by virtue of their job, the most objective measure of value available anywhere. In fact, we real estate agents don't always agree with them, because we have the added advantage of actually being able to TALK to buyers and sellers everyday so we can gauge their mood and thinking. But in fact, appraisers use ONLY comparable sales in the same geographic area in a specific period of time to judge what the next property is worth. They don't know and couldn't care less how many people are losing their jobs---that's for the real estate people to worry about. Appraisers' judgment about value has NOTHING to do with the local job situation or the economy, or anything else soothsayers seem to want to pin "value" on....appraisers' opinions have to do strictly with what the last buyers and the last sellers agreed to in the most recent transactions in a specific and limited geographic area.