I switched the poll out today. The results of the Open House poll right here. The “yes” responses were higher than I expected. I probably should have posed the question with a timeframe of the last five years but I didn’t and this is the result of the open ended question.
The new poll may appear a little strange but I took it straight from the NAR poll which was nationally based. How do Portlanders think about the same questions? You can pick all that apply. Next week, we’ll compare the results.
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(There’s no “none of the above” choice on this new poll.)
Appraisers have started a petition against being forced to inflate valuations:
This pressure comes in many forms and includes the following:
* the withholding of business if we refuse to inflate values,
* the withholding of business if we refuse to guarantee a predetermined value,
* the withholding of business if we refuse to ignore deficiencies in the property,
* refusing to pay for an appraisal that does not give them what they want,
* black listing honest appraisers in order to use “rubber stamp” appraisers, etc.
We request that action be taken to hold the lenders responsible for this type of violation and provide for a penalty on any person or business who engages in the practice of pressuring appraisers to do dishonest appraisals that do not provide for independent judgment. We believe that this practice has adverse effects on our local and national economies and that the potential for great financial loss exists. We also believe that many individuals have been adversely affected by the purchase of homes which have been over-valued.