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After a few weeks of discussion about the controversial Wall Street Journal article titled: “Judgment Call: Appraisals Weigh Down Housing Sales.”

An editor (WSJ Editor) has posted a forum poll asking the question;” What’s been your experience with home appraisals?” As of this posting, there were 302 votes with the distribution of; TO LOW – 139 Votes (46%), TOO HIGH – 43 votes (14.2 %), GENERALLY ACCURATE – 74 votes (24.5%), ALL OF THE ABOVE – 46 Votes (15.2%). Like their original article, this poll and supporting commentary by the poster (WSJ Editor) is very questionable.

Who Voted for this Story


Comments


Submitted by JerzyGC (#2)
2246 days ago
I think WSJ is way off base with their position in the original story and thus the direction of this poll.

The ability for someone to buy a house is not affected by the mortgage appraisal; it only affect the mortgage amount. A buyer has the right to pay any price they want for a property. They are responsible for paying the difference between the mortgage amount and the purchase price. Why should a buyer's willingness to gamble or take greater risk at the expense of the soundness of a mortgage program.



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