A Great Bailout Appraisal Plan

[Glenn Sarlitto]

Hello All!

Found this in APPRAISAL INSIGHT along with a cartoon regarding the recent Bailout.

Not sure who the author is.

QUOTE ON

My Plan: If the U.S. Government is going to spend taxpayer money to buy homes from banks, (and that's essentially what this bailout is) then it would be nice if they got a new appraisal for each those homes to ensure that I the taxpayer am not overpaying the banks for those homes.

QUOTE OFF


Hands down, this is one of the best ideas I've ever read in the almost two decades that I've been appraising real estate regarding anything the government gets its hands on.


CHEERS!

Glenn Sarlitto

[Aaron]

Nice! Very nice indeed. That would be a great idea....however, then it would cost the taxpayers another billion dollars just to pay for the appraisals..lol

[Tim Ferguson]

This is not true, it would cost a billion dollars for them to use the AMC and a 1/4 of that for the appraisal.

[George D Sheets]

But the big problem is we (appraisers) are not even listened to by the banks, etc. We are a large group of people and all educated so why do we not get heard. Some of us belong to NAIFA, AI, or other organizations but they only get heard by a few. Do you think we could work together and get a voice loud enough to be heard. We know what created this mess and the bailout is not going to fix it. When do you loan money without having colaterial equal to or more than the loan amount, or when do you loan 125%, or to people that do not have the income to pay it back? The answer is simple, never! But they did and now its pay the piper time and big government has decided to bailout these companies that went brainless. We need to unite and become a voice that will be heard. What's it going to take before we unite as a profession? First it was the Savings & Loan and we were blamed and licensing by the States came about. FHA is now starting to change their application requirements, now only certified appraisers and soon if you are on the approved list you may have to meet newer and stiffer requirements just to complete FHA appraisals, keep doing your job, which most of us appraisers do well. Yes there are a few bad appraisers those that do hit the mark no matter what it takes. But most of us are well trained and educated. What's it going to take for us to act? What can we do as a group? Sorry for going on and on but I have been in this profession since 1978, that's 30 years and I have seen all this before and yes things will come around and get better but we most likely will get blamed again and requirements placed on us by the government to continue appraising. Lets take a stand and try to keep this from happening again as next time around we (as a country) may not survive. George Sheets

[Glenn Sarlitto]

George,

Thanks for your input. You truly hit the mark in that we need a stronger voice and that we best find a way to start working together before it's too late. For starters, I think it's about time we we do something to get our total respect back. Remember those days? That respect still exists in the private sector. We've certainly lost it in the financial.


Regards,

Glenn Sarlitto
ValSpec Appraisal Services
Milwaukee, WI