Tuesday, June 23, 2009

Quote of the day, from the National Ass. of Realtors

AlphaNinja - Thanks to the NYTimes.

With existing home sale figures coming in on the light side this morning, some people are wondering why such bad numbers. Could it be a lack of non-conforming credit? Struggles to come up with a down payment? Dear God no! According to the NAR, it's those silly appraisers:

“Poor appraisals are stalling transactions. Pending home sales indicated much stronger activity, but some contracts are falling through from faulty valuations that keep buyers from getting a loan.”

Ridiculous.

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