Released: July 05, 2009

Complaints erupt about lowball home valuations

Source: Kenneth Harney, Los Angeles Times (Free Registration)

It’s by far the hottest controversy in real estate this summer, and it could directly affect the value of your house - probably negatively - by tens of thousands of dollars.

The issue concerns lowball valuations and the new rules guiding appraisers in both price-depressed and rebounding markets. Consider these snapshots of what’s going on:

• In San Diego, Steve Doyle, division president for Brookfield Homes, is trying to close out the final 20 houses of a 120-unit single-family subdivision.

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