Former appraiser here. Threw my license in the trash and went to the FBI. Real estate appraisal is a total farce. Appraisers are given a number to back into and if they don't hit the number, their phone stops ringing and they don't get paid. 99% of appraisals are fraudulent. The system is designed to support the real estate industry.
SACRAMENTO, Calif. -- The president's panel on the financial crisis heard California experts who had plenty of blame to pass around. Mentioned as cultprits in testimony made at the state's capitol were appraisers, originators and investment bankers. (Sept. 23)
Read my essay "The Truth About Real Estate Appraisal" on Smashwords.com