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Real Estate Advisory NIGHTMARE!!!!

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All right. I haven't done this before, but its time. BLAST THIS JERK. There's a letter to the editor link on this column. USE IT.
 
Here is my letter - already sent.

Mr. Bruss is being totally irresponsible with an article like this.

The buyer will very likely need an appraisal to obtain their mortgage and this will kill the deal if the property is way over priced. Real appraiser's DO take into consideration the current market. Too many Realtors are only concerned with making the commission as high as possible and couldn't care less if it harms either the seller or the buyer. In my experience, the Realtors with the biggest names are the worst offenders and don't pay any attention to the Realtors Code of Ethics.

Unbelievable that he would write such rubbish and that it would be published anywhere!
 
We need to get together here on the forum and write something to explain REALITY and to hopefully be published there.

I'm appalled by the harm he is causing!
 
Pam,

He's not causing much harm .. nobody pays any attention to him, anyway ..
 
The uninformed general public thinks he's an expert. Only those of us that are in the business know better. I'd like to have him tarred and feathered on national TV for this article!
 
The man is a lawyer and a real estate broker, 'nuff said.




P.S. He states that you can't rely on an appraisal OR an internet generated evaluation. What a kook! :x
 
I have a different view of people that read this crap and take it at face value. Idiots like this are what keep us in business. I did one last week that was an old two-story home built in 1851 that had been remodeled. The people paid $95,000 for it in 2000 and spent about $30,000 remodeling. They applied for an equity credit loan and told the bank that the property was worth $250,000. Half of it was painted pink and they hadn’t finished painting it yet, so the other half was white. They had the yard covered in pink gravel. When I looked at the picture I thought my camera was broken. Even the trees showed up pink. Camera must have been over loaded with pink shades. I used 11 comparables and it was worth about half that. The woman at the bank that I hand the appraisals in to purchased a similar house about ten years ago and completely remodeled it. It was a show place. Made a mockery out the subject property in all aspects. The bank lady sold her’s about two years ago for $165,000, and it took her about a year to do it. I think they had it appraised five times before some idiot hit the number. I was using a lot of regression at the time and every time I did a data sort that house popped up and was clearly completely out of line. I finally just took it out of the data base. It stuck out like a sore thumb. The lady at the bank looked at the appraisal, said the borrower told her it was worth $250,000, and said it was people like this that keep you in business Austin. She is right.
 
Pam,

I agree with the idea of writting a letter to the editor and having everyone who wants sign it. But who is gonna write the letter?
 
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