Freddie Mac Research - Appraisals

[CGinMN]

The PAVE arguments did not hold up well in the Senate hearing. It seemed like many senators on both sides expressed the need for data transparency and more study on the issue. I don't see how a bill gets out of that committee without something more convincing.

 

[George Hatch]

Hopefully not.

It might not be a bad idea to submit a comment to a couple of the politicians to put forth our concerns. The fallacy that the higher appraisal is always the more reasonable value conclusion being one of those concerns.

 

[shrubberyvaluation]

Hopefully not.

It might not be a bad idea to submit a comment to a couple of the politicians to put forth our concerns. The fallacy that the higher appraisal is always the more reasonable value conclusion being one of those concerns.

This is a hard one to express with the general public. People know someone that got a "low" appraisal, but they don't care when its high as its not hurting them unless its for taxes or something similar. I'd say the most compelling to the general public is the taxpayer having to bail out for bad loans in my opinion. Its much easier to rail road someone for a "low" appraisal that could be credible rather than convince the public that inflated appraisal is hurting them.

 

[Terrel L. Shields]

Here census tracts have been exactly the same since I started in 1991. But the growth in the county has been more than triple. Urban sprawl...
We had an influx of Hispanics, then after Katrina a number of blacks, and a contingent of Marshallese Islanders. But the tracts remained exactly the same. In those 30 years the newcomers, mostly poor, moved to where they could afford to move - the older, cheaper and smaller homes - often mid town or "out there somewhere in the country"... example? Centerton. This small satellite town had a population of less than 1,000 in 1990. Bentonville had a population of about 14,000. Bentonville has 35,000 plus today. It is roughly 2/3 white. The Asian population is larger than its Hispanic population, almost double. (19% v 10%) and the balance in mixed American Indian, black and "other" covers the rest.

The current population of Centerton (16,244) is it's peak population.
Centerton has grown 515.5% since the 2000 census. Bentonville cannot expand much because Centerton is on one side, Bella Vista is north, Rogers is east so they are basically going south but crashing up against two small sprawl towns - Highfill and Cave Springs...

Basic historic data on fluid demographics is a pointless effort - Needs a more in depth analysis