Housing Groups Agree on Need for Appraisal Reforms

Addressing an issue with critical implications for the recovery of the nation’s housing market, NAHB on Sept. 21 brought federal regulatory agencies and the major housing and financial institution stakeholder and appraisal organizations to the National Housing Center in Washington, D.C. to discuss constructive solutions to appraisal problems.

Among the problems discussed at the summit was the use by some appraisers of foreclosed or other distressed properties as comparables without making proper adjustments for the run-down conditions of these homes, which appraisers often can’t see just by looking at the exterior of the property. This trend has been driving down the sales prices of homes. ...

Builders See Encouraging Results From Meetings With Lawmakers

The Home Builders Association of Connecticut is among scores of HBAs around the country reporting successful results from meetings in late August and early September with members of the U.S. Congress who were home for their summer recess.

Members from the Connecticut delegation met with Reps. Joe Courtney (D), Jim Himes (D) and Chris Murphy (D) to share their concerns about problems that could deal the housing industry a setback at a time when it is just beginning to show hopeful signs of a turnaround. ...