Daystar
Member
- Joined
- Sep 7, 2006
- Professional Status
- Certified Residential Appraiser
- State
- New York
Last one out Shut the Lights. This is getting very depressing, I do not think we will see a strong housing recovery for a long period of time.
Here is my thinking, Most lenders have cut off many of their loan programs. If you do not have qualifying income and down payment you simply can not qualify. This is reflected in less loan applications which in turns means fewer appraisals. While this may be good in the long run, short term it could be a disaster for all of us.
According to Barny Frank and Cris Dodd There are now going to be stricter laws on the books to prevent many of these loan programs from being re-employed back into the market.
The country is in a state of fear and there is a lack of consumer confidence, this in my humble opinion will cause the Real Estate Market to continue in its lackluster performance. In the mean time I have spent close to 20 Years in what I thought was a good and respectable profession only to have the legs cut out by less than stellar participants.
How many Appraisers will be able to survive?
Here is my thinking, Most lenders have cut off many of their loan programs. If you do not have qualifying income and down payment you simply can not qualify. This is reflected in less loan applications which in turns means fewer appraisals. While this may be good in the long run, short term it could be a disaster for all of us.
According to Barny Frank and Cris Dodd There are now going to be stricter laws on the books to prevent many of these loan programs from being re-employed back into the market.
The country is in a state of fear and there is a lack of consumer confidence, this in my humble opinion will cause the Real Estate Market to continue in its lackluster performance. In the mean time I have spent close to 20 Years in what I thought was a good and respectable profession only to have the legs cut out by less than stellar participants.
