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NH CC four -- rating in the eight years of many realtors these days.
It is the national housing code of conduct -- is it making loans harder to come by Jeff Flock has the details yeah.
I think there's no question they get the answer that question is yes them -- beautiful Condo on the market you're in Chicago to a local Condo beautiful.
The housing market market trying to make a recovery but this HB CC.
Home valuation code of conduct was designed to stop appraisers from over inflating the value properties like this -- PD.
Who was until net houses how launch go.
23 years -- and this new thing is is essentially put -- wall in between the appraisers and alone companies they have to kind of go to an outside company to hire an appraiser.
And appraisals are coming back.
Crazy numbers for about what's happening is a lot of the praises that are coming to different properties truly don't know and they were all so.
There jumping through hoops trying to.
To a job that really -- to do after the coming back with low sometimes low valuation well right now it's hard because there aren't a lot of sales happening compared to what we used to have so.
You're -- off of comparable sales last three to six months -- not be there there.
This was in -- this was a a plan put in place by the New York attorney general Andrew Cuomo.
Designed to keep the pressure off appraisers from you know if you -- -- alone for 500000 dollars on house.
You've got to come through the praise gotta have that kind of value based on -- appraisal or you don't get alone.
And that's what's happening now a lot of these -- are going down.
Well in the past it was that you could hire the -- you want it.
Well the reasons why the banks and the north side of Chicago we're hiring certain appraisers because they don't they -- occurred while.
Where now you're getting people from outside that really don't know the area and that is a problem another thing is that it's taken 30% of what the appraisers make out of the equation because that -- middleman.
The middleman -- there.
And the big problem areas -- mean we've got a much slower market sold appraisers don't have as many appraisers are going.
So a lot of them have a real hard time in the bank regulations that it's it's been a tough market we are there come out of -- -- -- -- changed obviously.
Sometimes it goes right sometimes it goes wrong that's one.
Talked to a number of the -- -- brokers association says it's killing our industry.
Because he's -- you come to the closing table if you've got a ballot purchase price on a house everybody's agreed.
And they unfortunately appraisal doesn't come out the right value.
And the whole deal -- -- Don't need that in this market -- Well Jeff what's amazing you -- with one lawmaker -- attorney general Andrew Cuomo in New York State.
That is affected the entire housing industry Jeff thanks for that it it.
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