Board of Directors debates appraisal issues, seeks solutions

At its meeting on September 7, the Board of Directors of Seattle King County REALTORS® discussed issues related to appraisal delays in the current Puget Sound market. Board members expressed concern about the delays in getting completed appraisals, rapidly rising costs and the other related issues that jeopardize the timely closing of home purchases. President Patti Hill announced that the Board would ask for an action plan at the State Convention of REALTORS® in Spokane next week. She also pledged that the Board would continue to work with the National Association of REALTORS® on reviewing and revising federal oversight of the minimum requirements for appraiser licensing.

The appraiser issue was a subject in the Seattle Times real estate market report today.