The chair and co-chair of NAR’s Real Property Valuation Committee made a few remarks on
In the paper, the researchers say appraisals ordered by appraisal management companies are not overvalued at a higher rate than other types of appraisals. There were some differences, though. First, when AMC appraisals come in overvalued, they tend to come in overvalued by a higher amount that other appraisals. Second, AMC appraisals tend to use more comparables.
Rebecca Jones, chair of NAR’s Real Property Valuation Committee, says she’s not surprised by the findings. “A lot of us boots-on-the-ground appraisers have known this sort of thing for …read more
Source: Speaking of Real Estate