http://www.msn.com/en-us/money/realestate/massive-shortage-in-appraisers-causing-home-sales-delays/ar-BBwHkuC
The regulations have significantly changed and it is causing a shortage of appraisers entering the market. This has a huge impact on the home sales, causing deals to fall apart or extensions on contracts. Hopefully they do address some of the issues or we might be in trouble a few years down the road.
Since 2007, when the U.S. housing market came crashing down, the number of appraisers has shrunk by 22 percent, according to the Appraisal Institute, an industry association. With so few new cadets, the current population of appraisers is aging. More than 60 percent are over the age of 50.
No comments:
Post a Comment