Low-Ball Appraisals Cause Problems

Real estate practitioners in Nevada, one of the areas hit hardest by foreclosures, say low-ball appraisals are slowing sales and preventing recovery. Mark Stark, CEO of Prudential Americana Group in Las Vegas, says he thinks appraisers are too focused on projecting how much prices could fall rather than reflecting what values really are. “The appraisers […]

by Nia Knowles
June 7, 2009
Real Estate 411

Mortgage Fraud Rises as Sales Decline

Mortgage fraud increased 26 percent in 2008 compared to 2007, according to a study released Monday by the Mortgage Asset Research Institute. The increase reflects fewer loans. About $1.4 trillion in home loans were made in 2008, down a third from the previous year. More than 60 percent of the mortgage fraud cases last year […]

by Nia Knowles
March 18, 2009
Interesting