Prudential Douglas Elliman Real Estate Vice Chairman Dolly Lenz discusses why appraisers' low-ball offers are hampering the growth of the housing market with David Asman on Fox - America's Nightly Scoreboard.
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Dolly says . . "Nobody wants things low and slow." referring to appraisers' impact on the real estate transaction.
When asked what could be done to fix the problems she says:
"I think for one, they should have to provide comparable sales. So an appraiser saying this property is worth $300,000 . . .you have to provide numbers why. Not when "requested". Should "have to provide"."
Where in the world has Dolly been for the past 40-50 years?! Does she REALLY think that appraisers aren't providing support for their values?