HVCC Needs To Be Repealed. Think I'm Kidding? Go Read Chris Elizabeth Griffith

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Services for Real Estate Pros with Tann Starr & Associates, Inc.

Chris Elizabeth Griffith: Effort To Protect Consumer From Bad Appraisal Creates Havoc

Originally published 4:01 p.m., Friday, July 3, 2009 Updated 4:01 p.m., Friday, July 3, 2009

http://www.naplesnews.com/news/2009/jul/03/chris-griffith-effort-protect-consumer-bad-apprais/

I love this link. It takes you to a very interesting article written by Chris Elizabeth Griffith, one of my favorite writers. (BTW, if you are on Facebook you can join her fan page here. ) She talked about the fact that the communication with appraisers is done strictly with the lender-bank though an “appraisal management company.”

Want to know what whomps about this particular scheme cooked up by the government that is backfiring big time for consumers? Cick the above link. Bet you learn something new today (LOL).

I wonder if you are going to be as pissed off as I am about this? Seriously... It's a brief but good read. Something needs to be done about this now.

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Ambassador
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Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

C, I just read Chris's piece and think it's a scary great analysis of what's going on.  Back when I was working as a consumer advocate, I learned that when throwing a new regulation at a problem, the regualtor has to be very, very careful.

Jul 05, 2009 09:41 AM #1
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Hello C: I read it, too. In fact, I wrote about it for About.com, calling HVCC a monstrosity and a disaster. I hear that the National Association of REALTORS is now asking the legislature for an 18-month moratorium on HVCC.

sacramento short sale agent

Jul 05, 2009 10:00 AM #2
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C Tann-Starr
Tann Starr & Associates, Inc. - Flushing, NY

Elizabeth, post me a link in the comments section so I can read it and update my post linking back to you as well.

Patricia,  I'm trying to figure out if this is unintended consequences or something else going on. What ever it is, it totally whomps. They need to repeal this.

Free markets thrive, micro-management with a stupidity stick should not be allowed to stand. The government needs to admit they made a mistake and move on to something more effective (big hint: dump this and start from scratch with the people who actually do the damn work and not big business looking to whack the competition and take the small business owners out of the game.)

Jul 05, 2009 10:09 AM #3
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Jim Valentine
RE/MAX Realty Affiliates - Gardnerville, NV

C - Thanks for carrying the torch on this.  We've written about it and have signed the petitions.  It sounds good on the surface, but is terrible in its application.  It is having a negative impact in our market including escrow delays, higher cost to the consumer, and poor appraisal work.  Other than that its alright ... ha.

Jul 05, 2009 10:43 AM #4
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JL Boney, III
Russell and Jeffcoat - Columbia, SC
Columbia, SC Real Estate

I always like a good opportunity to learn something new. I'll check out the whole article and see what's up.

Jul 05, 2009 04:30 PM #5
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C Tann-Starr
Tann Starr & Associates, Inc. - Flushing, NY

Jim, I was set back a month on a closing. Not fun at all...

JL, thank you. :-)

Jul 06, 2009 08:14 AM #6
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