The Home Valuation Code of Conduct
I recently went to a class about selling listings in a slow market. It was a course on blogging, internet marketing, listing syndication, etc. Great class but perhaps more important was something I learned there about the extent of the new HVCC laws. Sponsering the class was Mike the Money Man Mike Carpenter who prefaced the class with a summary of the new appraisal laws which are supposedly put in place to help people but in the end, all it’s doing is making a few companies rich, bloating the appraisal process and making it very questionable if your financing is going to fall apart or not.
Mike has generously posted many more details about this “great appraisal conspiracy” on his website. The punchline is, the more beuracracy and layers of absurdity you add to the process, the longer any housing recovery will take. This law went into effect on May 1st, 2009. It is too early to see the effect this will have on the market but I can predict it will not be good.
Mike has several action items posted in his article that you can do to hopefully help get this law repealed. I urge you to follow up with them but let me get you started. Please sign this petition.
