The Real Deal Miami

Appraisals assailed

June 24, 2009 10:59AM

Lawrence Yun, chief economist of the National Association of Realtors, said the housing market’s bottoming process is imperiled by inaccurate home appraisals. He said it’s a nationwide issue and that lenders often use appraisers who might not be familiar with a neighborhood, or who compare traditional homes with distressed and discounted sales. Bill Richardson, district sales manager for Keyes Co. in Boca Raton, said many deals are being delayed by appraisal issues.