Comments on: Impact of the HVCC http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/ News, insights, tools, and inspiration for business owners and professionals Fri, 10 Feb 2012 15:13:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Debbie http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-39761 Debbie Tue, 13 Oct 2009 23:48:38 +0000 http://agentgenius.com/?p=15289#comment-39761 We are selling our home. It took forever to get an appraiser. They had to be requested a second time. The female appraiser scheduled a day to come out. Eight days later she was sitting in our driveway unannounced, thinking the home was empty. Needless to say, she had to call the bank and our realtor let me know she was sitting in my driveway. She let no one know she never showed the week before as scheduled. She thought we would sneak in when she did and no one would be any wiser. Better than that, she fraudulently commented on line that the appraisal would be in soon( this is the original week she was scheduled) when she hadn't even shown up. She tells me she will have it in the next day and of course she didn't. It was the following Tuesday evening she had it in and it was 5, 000 under the listed price. The listing was within range of area houses in similar size, shape and condition. We have 1/2 acre of land which the others didn't with numerous upgrades. I wish we hadn't spent one dime to update this house. The county taxes we are being charged are on a house selling for more than 60,000 more than what this stupid woman appraised it for. How can either of them get away with that? The government is sick, be it county, state OR government. We are being ripped off big time and who is going to help us recoup our losses? At this point, I am ready to leave the house, not make any more payments and just let the bank take it. Then see who else loses in all of this realty mess. I hope Attorney General Cuomo rots! This is all his fault! We didn't even have a local appraiser! Screw all of the government. I wondered why my father never trusted the government. Now I feel the same way! We are selling our home. It took forever to get an appraiser. They had to be requested a second time. The female appraiser scheduled a day to come out. Eight days later she was sitting in our driveway unannounced, thinking the home was empty. Needless to say, she had to call the bank and our realtor let me know she was sitting in my driveway. She let no one know she never showed the week before as scheduled. She thought we would sneak in when she did and no one would be any wiser. Better than that, she fraudulently commented on line that the appraisal would be in soon( this is the original week she was scheduled) when she hadn’t even shown up. She tells me she will have it in the next day and of course she didn’t. It was the following Tuesday evening she had it in and it was 5, 000 under the listed price. The listing was within range of area houses in similar size, shape and condition. We have 1/2 acre of land which the others didn’t with numerous upgrades. I wish we hadn’t spent one dime to update this house. The county taxes we are being charged are on a house selling for more than 60,000 more than what this stupid woman appraised it for. How can either of them get away with that? The government is sick, be it county, state OR government. We are being ripped off big time and who is going to help us recoup our losses? At this point, I am ready to leave the house, not make any more payments and just let the bank take it. Then see who else loses in all of this realty mess. I hope Attorney General Cuomo rots! This is all his fault! We didn’t even have a local appraiser! Screw all of the government. I wondered why my father never trusted the government. Now I feel the same way!

]]> By: Arlington condos Jay http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-37644 Arlington condos Jay Tue, 25 Aug 2009 14:12:48 +0000 http://agentgenius.com/?p=15289#comment-37644 FHA says no to HVCC rules--breaking newz! thinkbigworksmall.com/mypage/player/tbws/14856/1031016 FHA says no to HVCC rules–breaking newz!

thinkbigworksmall.com/mypage/player/tbws/14856/1031016

]]> By: Joe Sheehan http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-36537 Joe Sheehan Sun, 26 Jul 2009 13:56:29 +0000 http://agentgenius.com/?p=15289#comment-36537 The FHFA says that the HVCC rules were inplemeted due to past abuses in the appraisal process and potential conflicts of interest between mortgage brokers, realtors, and appraisers. The sad irony of HVCC is the homebuyers who allegedly overpaid for their homes due to "hyped-up" appraisals 5-7 years ago are now getting dinged on the sell side for decling home values and "hyped-down" appraisals. It's the consumer who is the ultimate victim of these misguided rules. The FHFA says that the HVCC rules were inplemeted due to past abuses in the appraisal process and potential conflicts of interest between mortgage brokers, realtors, and appraisers.

The sad irony of HVCC is the homebuyers who allegedly overpaid for their homes due to “hyped-up” appraisals 5-7 years ago are now getting dinged on the sell side for decling home values and “hyped-down” appraisals.

It’s the consumer who is the ultimate victim of these misguided rules.

]]> By: Is MBA telling the full story? | Real Estate Opinion MAG - AgentGenius http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-36130 Is MBA telling the full story? | Real Estate Opinion MAG - AgentGenius Thu, 16 Jul 2009 14:55:40 +0000 http://agentgenius.com/?p=15289#comment-36130 [...] Memphis Real Estate Buzz: Real Estate News Summary (week ending 07-14-09) [...] [...] Memphis Real Estate Buzz: Real Estate News Summary (week ending 07-14-09) [...]

]]> By: Real Estate News Summary (week ending 07-14-09) | Memphis Real Estate Buzz http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-36049 Real Estate News Summary (week ending 07-14-09) | Memphis Real Estate Buzz Tue, 14 Jul 2009 23:21:10 +0000 http://agentgenius.com/?p=15289#comment-36049 [...] of the HVCC | Real Estate Opinion MAG – AgentGenius – http://agentgenius.com/g-rants… [...] [...] of the HVCC | Real Estate Opinion MAG – AgentGenius – http://agentgenius.com/g-rants… [...]

]]> By: Charlottesville Market Report – First Half 2009 http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-35922 Charlottesville Market Report – First Half 2009 Mon, 13 Jul 2009 05:07:59 +0000 http://agentgenius.com/?p=15289#comment-35922 [...] of good volume of transactions is holding back the market. More to come on this, and as I said in a comment on AgentGenius – "Accuracy and competency are all I want – for my business and my [...] [...] of good volume of transactions is holding back the market. More to come on this, and as I said in a comment on AgentGenius – "Accuracy and competency are all I want – for my business and my [...]

]]> By: Jim Duncan http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-35915 Jim Duncan Sun, 12 Jul 2009 22:32:03 +0000 http://agentgenius.com/?p=15289#comment-35915 Paul - My beef with the HVCC is not the regulation per se, but with inaccurate appraisals using comps that <em>aren't</em> comps ... Accuracy and competency are all I want - for my business and my clients. Paul –

My beef with the HVCC is not the regulation per se, but with inaccurate appraisals using comps that aren’t comps …

Accuracy and competency are all I want – for my business and my clients.

]]> By: Paul Mausteller http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-35902 Paul Mausteller Sun, 12 Jul 2009 12:03:14 +0000 http://agentgenius.com/?p=15289#comment-35902 My 2 cents about HVCC has actually shed some light on how fudged the appraisal and mortgage business was in the past. No more LO sleeping with appraisar theory. I think the mindset was to continue to bring in appraisals to match or exceed purchase prices, the appraisar would get additional work from that LO. The pressures for appraisers was make it happen since your my buddy, I'll give you more work. Funny how everyone wants to point the finger at HVCC is a problem. WAKE UP people we are in a declining market, almost half if not more of all homeowners are upside down in their mortgages. HVCC is called regulation. The truth is hard to swallow, being transparent will set you free. The reason our economy is in a mess is this very reason, lies, fudging make it happen no matter what. When the true value of homes has been inflated for years because of lack of regulation, now we are paying for it. My 2 cents about HVCC has actually shed some light on how fudged the appraisal and mortgage business was in the past. No more LO sleeping with appraisar theory.
I think the mindset was to continue to bring in appraisals to match or exceed purchase prices, the appraisar would get additional work from that LO. The pressures for appraisers was make it happen since your my buddy, I’ll give you more work.
Funny how everyone wants to point the finger at HVCC is a problem.
WAKE UP people we are in a declining market, almost half if not more of all homeowners are upside down in their mortgages. HVCC is called regulation. The truth is hard to swallow, being transparent will set you free.
The reason our economy is in a mess is this very reason, lies, fudging make it happen no matter what.
When the true value of homes has been inflated for years because of lack of regulation, now we are paying for it.

]]> By: AgentGenius http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-85664 AgentGenius Sun, 12 Jul 2009 00:50:07 +0000 http://agentgenius.com/?p=15289#comment-85664 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">#agnow Well, it seems that the consensus is building - at least here on AG - that it really isn't "the market" as s... http://cli.gs/eYeW0</span></span> #agnow Well, it seems that the consensus is building – at least here on AG – that it really isn’t “the market” as s… http://cli.gs/eYeW0

]]> By: Ken Montville - MD Suburbs of DC http://agbeat.com/editorials/real-estate/impact-of-the-hvcc/#comment-35886 Ken Montville - MD Suburbs of DC Sat, 11 Jul 2009 20:50:04 +0000 http://agentgenius.com/?p=15289#comment-35886 Well, it seems that the consensus is building - at least here on AG - that it really isn't "the market" as so many appraisers want to claim. It is appraisers unfamiliar with "the market" establishing artificially low valuations and affecting "the market". It's a vicious cycle. I wonder at what point will it become obvious to even the most clueless of appraisers that the valuation/contract price/comparables are really valid? Well, it seems that the consensus is building – at least here on AG – that it really isn’t “the market” as so many appraisers want to claim. It is appraisers unfamiliar with “the market” establishing artificially low valuations and affecting “the market”. It’s a vicious cycle. I wonder at what point will it become obvious to even the most clueless of appraisers that the valuation/contract price/comparables are really valid?

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