Bloggers,
Look to the Kitsap Sun, www.kitsapsun.com and here on Monday for my story on the current woes in the home-appraisal industry. Independent appraisers say they’re under enormous pressure to “hit the number” and inflate values, and if they don’t, they don’t get business. Some new rules are coming down to try to address this, but it’s my opinion this will ultimately be settled in the courts. A class-action lawsuit against BOA’s Countrywide was just filed in U.S. District Court in Seattle. It alleges Countrywide rigged appraisals. You can read more on Monday. Researching this story has left me with grave reservations about how home appraisals are accomplished now in this down housing market.
Rachel
