Here’s a thought the next time you drive past an empty McMansion — a real estate research group reports that 90 percent of appraisers said mortgage brokers, realty agents, lenders and even consumers have pressured them to raise property valuations so deals can go through.
Guess that’s one way to get around all those negative news reports of a slump in the housing business. According to the report, loan brokers are routinely "dialing for values," said a Minnesota appraiser. "They call up appraisers and say, we’ve got this sale at $335,000 at such and such an address. Can you get to that number?" If an appraiser answers yes, he or she gets the assignment. If not, it goes to another.
