My New Blog

First, this question should come as no surprise to those of you in the real estate industry that have been paying attention and have been trying to hang on in our beleaguered profession. The quick and dirty answer to this question is simply because fraud exists most where it has the greatest opportunity. Since California is first and foremost (with Nevada and Florida) a leader in the Short Sale industry, we attract the most crooks.

The truth tends to find it's way to the top to those that want the truth, and I think the general public is finding out what most appraisers have known for more than 2 years. The financial reform and house cleaning of our industry by the same individuals who greatly contributed to this mess in the first place is slowly revealing itself. The Chris Dodd/ Barney Frank/ Andrew Cuomo trifecta that decimated the appraisal industry (and continued the housing malaise) is now slowly revealing itself to those who want to know why the real estate industry can not heal itself. Appraiser independence is almost nonexistent in the mortgage industry with the advent of the Bank Owned and controlled "Appraisal Management Companies". The professional appraiser, at least the best of them, have started to retire enmasse or have stepped away from the mortgage industry. Broker Price Opinions by self interested Realtors and automated valuation models has facilitated the downward spiral with little or no accountability. Who will be the next boogeyman, if not the appraiser this time??