More appraisers pressured to inflate values
Friday, February 2nd, 2007WASHINGTON - With home prices softening and sales volumes sagging in many local markets, real estate appraisers say pressure on them to inflate values has soared.
A new survey of the national appraisal industry found that 90 percent of appraisers reported that mortgage brokers, realty agents, lenders and even consumers have pressured them to raise property valuations to enable deals to go through. That percentage is up sharply from a 2003 survey, when 55 percent of appraisers reported attempts to influence their findings and 45 percent reported “never.” Now the latter category is down to just 10 percent.




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