As refinances have slowed down a bit with the recent interest increase, I’ve had a moment to take a breath and reflect on a few topics. One issue that concerns many appraisers is the attempt by some to implement a hybrid appraisal product.
The fact that appraisers spend little time with buyers during their property search, comparing neighborhoods, viewing possible alternatives, and trading off amenities between different offers is perhaps the largest gap in our knowledge of the market. When buyers or tenants view a property what do they see?