Neil Joiner Sent: Friday, November 21, 2008 8:09 AM To: Comments Subject: Real Estate Appraisal Guidelines
As all of us have known for years, many appraisals have little to do with
actual value, but instead are sometimes designed to justify a loan
request. A more important figure is actual justifiable cost, not including
any closely related sales of the property to boost the perceived value.
Either through appraisals, or other guidance, more emphasis should be placed
on cost rather than an estimation of value.