Tag Archives: Flawed Appraisals Killing More Deals

In many recent cases, new homes are being appraised for less than the cost of construction, according to the National Association of Home Builders. Builders are blaming flawed appraisals for holding back the housing market’s recovery. Builders say that new homes should not be compared to foreclosed homes that have sat vacant and are in disrepair. “The inappropriate use of distressed and foreclosed sales as comparables in determining new home values is needlessly driving down home prices, killing home sales, causing more workers to lose their jobs and delaying a […]