Comments on: Hey America, Take Another One For The Team: HVCC Fallout Begins http://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/ Click here to search all Austin real estate for sale! Eric Bramlett is a full service Austin real estate broker specializing in buyer, seller, and investor representation. Mon, 12 Mar 2012 05:56:38 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Ralph Ferrarahttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-7472 Ralph Ferrara Thu, 07 Jan 2010 14:45:49 +0000 http://www.ericbramlett.com/?p=1205#comment-7472 I am an appraiser in the Hudson Valley and spent many years building a client base and reputation of providing the best service possible. Since May, I am no different than a novice appraiser who lives in a different county who has been in the business for 6 months. My income has been cut by @ 75%. The people in the mortgage business who knew me and trusted my opinion are no longer allowed to speak to me. We have 20 year old clerks telling us as appraisers in the field that appraisals of unique/difficult/more time consuming properties/homes must be submitted within 48 hours....or we risk not get any more work. And, Andrew Cuomo, the author of the HVCC, may have had a vested interest in its enaction as I have read (in more than one place) that he is/was a part owner (with a friend) of an AMC....Any surprise there?. We must get this HVCC repealed to provide the best service to consumers. Bad appraisers, just as bad anything, should be weeded out. What started out a "well intentioned legislation" has once again caused more problems than it solved. Just my two cents. I am an appraiser in the Hudson Valley and spent many years building a client base and reputation of providing the best service possible. Since May, I am no different than a novice appraiser who lives in a different county who has been in the business for 6 months. My income has been cut by @ 75%. The people in the mortgage business who knew me and trusted my opinion are no longer allowed to speak to me. We have 20 year old clerks telling us as appraisers in the field that appraisals of unique/difficult/more time consuming properties/homes must be submitted within 48 hours….or we risk not get any more work.
And, Andrew Cuomo, the author of the HVCC, may have had a vested interest in its enaction as I have read (in more than one place) that he is/was a part owner (with a friend) of an AMC….Any surprise there?. We must get this HVCC repealed to provide the best service to consumers. Bad appraisers, just as bad anything, should be weeded out. What started out a “well intentioned legislation” has once again caused more problems than it solved.
Just my two cents.

]]> By: Michelehttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-6063 Michele Fri, 31 Jul 2009 05:51:20 +0000 http://www.ericbramlett.com/?p=1205#comment-6063 My husband and I wanted to do a refiance with some cash out. Good credit, good income, ect. but then came the HVCC appraisal. Our home was valued for property taxes at $375,000. Five lots 300 feet away are selling for $130,000. But our appraisal came in at $240,000 with land value at $85,000. I guess those 300 feet made the land worth $45,000 less. This appraisal method is expensive (we paid $500) and the consumer gets a poor quality appraisal. It will also hurt the county goverment tax base. I plan to use this low ball appraisal to protest my taxes because of the $135,000 differencial. We need to get rid of the HVCC now. My husband and I wanted to do a refiance with some cash out. Good credit, good income, ect. but then came the HVCC appraisal. Our home was valued for property taxes at $375,000. Five lots 300 feet away are selling for $130,000. But our appraisal came in at $240,000 with land value at $85,000. I guess those 300 feet made the land worth $45,000 less. This appraisal method is expensive (we paid $500) and the consumer gets a poor quality appraisal. It will also hurt the county goverment tax base. I plan to use this low ball appraisal to protest my taxes because of the $135,000 differencial. We need to get rid of the HVCC now.

]]> By: Death Knell Already Ringing For HVCC?http://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5901 Death Knell Already Ringing For HVCC? Tue, 30 Jun 2009 04:27:37 +0000 http://www.ericbramlett.com/?p=1205#comment-5901 [...] (D-Miss.) sponsored a bill that would put an 18-month moratorium on HVCC and an end to this free for all we’ve been calling real estate for the past 60 days. The bill has the full backing of the NAR and undoubtedly a number of agents [...] [...] (D-Miss.) sponsored a bill that would put an 18-month moratorium on HVCC and an end to this free for all we’ve been calling real estate for the past 60 days. The bill has the full backing of the NAR and undoubtedly a number of agents [...]

]]> By: Josh Ferrishttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5884 Josh Ferris Fri, 26 Jun 2009 22:45:34 +0000 http://www.ericbramlett.com/?p=1205#comment-5884 Bruce - I hear ya, I really wish they would at least use local, experienced appraisers. I have no doubt we're getting appraisers from over 50 miles away to do the work here and it's killing deals left and right. Bruce – I hear ya, I really wish they would at least use local, experienced appraisers. I have no doubt we’re getting appraisers from over 50 miles away to do the work here and it’s killing deals left and right.

]]> By: Bruce Wagghttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5878 Bruce Wagg Fri, 26 Jun 2009 04:35:10 +0000 http://www.ericbramlett.com/?p=1205#comment-5878 It has killed a few deals out my way. If you have three offers near $450,000 and the appraiser, who doesn't know the neighborhood, says it's only worth $400,000, well he just took money out of some hard working agent's pocket. It has killed a few deals out my way. If you have three offers near $450,000 and the appraiser, who doesn’t know the neighborhood, says it’s only worth $400,000, well he just took money out of some hard working agent’s pocket.

]]> By: pride homestayhttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5872 pride homestay Wed, 24 Jun 2009 13:06:00 +0000 http://www.ericbramlett.com/?p=1205#comment-5872 same couple of appraisers getting all the work ? same couple of appraisers getting all the work ?

]]> By: Ashlee in Fort Worthhttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5869 Ashlee in Fort Worth Tue, 23 Jun 2009 23:06:23 +0000 http://www.ericbramlett.com/?p=1205#comment-5869 Hopefully they find a way to keep up! It is going to suck telling clients that they cant close because we still dont have an appraisal. Hopefully they find a way to keep up! It is going to suck telling clients that they cant close because we still dont have an appraisal.

]]> By: Josh Ferrishttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5868 Josh Ferris Tue, 23 Jun 2009 22:02:22 +0000 http://www.ericbramlett.com/?p=1205#comment-5868 Scottie - Couldn't agree more.Keith - Unfortunately we can't run from this one, HVCC is federal and applies to every state in the U.S. :( Scottie – Couldn’t agree more.

Keith – Unfortunately we can’t run from this one, HVCC is federal and applies to every state in the U.S. :(

]]> By: Keith Lutzhttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5865 Keith Lutz Mon, 22 Jun 2009 16:57:00 +0000 http://www.ericbramlett.com/?p=1205#comment-5865 Wow, I learn something everyday in RE. Thanks for such an informative post! Glad I got out of NY State! Wow, I learn something everyday in RE. Thanks for such an informative post! Glad I got out of NY State!

]]> By: Scottie Gracehttp://ericbramlett.com/hey-america-take-another-one-for-the-team-hvcc-fallout-begins/#comment-5864 Scottie Grace Sun, 21 Jun 2009 19:10:41 +0000 http://www.ericbramlett.com/?p=1205#comment-5864 They should try to fast track the process to get the appraisal done sooner or outsource if they can't keep up. They should try to fast track the process to get the appraisal done sooner or outsource if they can’t keep up.

]]>