Last week I was driving in the car when I heard a great report from NPR about an appraiser in New Jersey as he appraises a three bedroom vacant house. You can hear a recording of the story Volatile Market Challenges N.J. Property Appraiser by Nancy Solomon at http://www.npr.org/templates/story/story.php?storyId=15785020

A couple of things stood out from this broadcast:

• Lenders feel that the appraisal matters more than ever
• Six month old appraisals may not be relevant because they are not reflective of current market climate
• Appraisers are seeing the number of appraisals rise with foreclosures and divorce on the rise.

You should definitely give this 4 minute recording a listen if you can. It gives great insight into the climate – specifically in New Jersey. It also highlights the benefits of checking out the eppraisal.com market insight data as well as Find a Pro.