Wednesday, January 9, 2013
NEW YORK (TheStreet) -- Like many young things, the housing recovery is suffering some growing pains, as appraisals lag rising prices and make it difficult for borrowers to get loans.
The problem, mortgage-data firm HSH Associates says, starts with the conservative appraisal standards implemented during the financial crisis. That is compounded by a natural lag in comparable-sales data. The result -- appraisals coming in lower than the price seller and buyer have set -- is a possibility both parties need to take into account as they enter this changing market.
To read the story, click here: http://ow.ly/gF8kG