Blog, Featured
HVCC Debate
October 28, 2009 by admin · Leave a Comment
Anyone keeping up with this HVCC debate realizes what a negative impact it has created for the real estate and lending market alike. If you are not familiar with this code please refer to this link for an explanation: http://www.ideamarketers.com/?The_HVCC_Prolongs_the_Housing_Slump&articleid=681026 The HVCC Code was put into action with good intentions but has had negative unintended effects of grossly devaluating the market. Essentially, we have appraisers from Conyers appraising homes in Chamblee with no real grasp on the market valuation and doing the work at half the price. Why does this affect you? It means that when your neighbors try to refinance their homes the appraiser being used is devaluing your community because he may lack market knowledge in your area. The same situation applies to purchase agreements and resales. It needs to be suspended until further assessments and provisions can be made. Please contact your local state representative and ask them to support the HR3044 Bill, which imposes an 18 month moratorium on the HVCC for appraisers.
or 
