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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Thu, 26 May 2005 02:01:56 GMT
/ Author of the message: "flinrius" |
Title of the message: |
Appraisal fraud: your home at risk
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Text of the message: |
Appraisal fraud: your home at risk Appraisers say they're being pressured by lenders to inflate their estimates of home values. May 24, 2005: 10:30 AM EDT By Sarah Max, CNN/Money senior writer SALEM, Ore. (CNN/Money) - Anyone who's ever bought or refinanced a home knows the sense of relief when the appraisal comes in with high marks. The appraisal tells bankers, brokers and, ultimately, investors whether a house is a sound investment. But on Tuesday, the Appraisal Institute will tell Congress that its members are under increasing pressure from lenders, mortgage bankers and real estate agents to "hit their number" when appraising property. Rather than come up with an independent estimate of a home's value, appraisers -- who are typically independent contractors -- say they are being told to base their estimate on a predetermined value. |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.