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LRES’ Alice Sorenson talks NAHB white paper, industry issues and solutions
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When the National Association of Home Builders (NAHB) released a white paper that determined “serious problems in the residential appraisal process must be addressed in order to restore confidence in the residential real estate market and to establish a foundation for sustainable growth of the U.S. economy,” it didn’t take long for appraisers to speak out against that opinion. It was the latest assault on appraisers who have seen their fair share of blame and potshots. Still a month after the release, the conversation continues. Valuation Review talked to Alice Sorenson, chief investment officer of LRES, an appraisal management company based in Orange, Calif., about the NAHB slant, what’s really going on in the appraisal industry and how we can work together to solve the problems we actually have.
“Everyone seems to think that appraisers have a magic wand that’s going to fix the industry. It’s been going on for quite a long time,” Sorenson said. “This white paper is really a persuasive paper. The NAHB is busy trying to convince someone of their position. They’re only presenting their version of their side of it. The paper alleges that there are serious problem within the appraisal and housing industries. I think this is an industry problem. It’s not just restricted to the appraisal industry.”
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