Most people would agree that they enjoy food that is cooked evenly throughout. When microwaves were first introduced into mainstream, it used to take 5 minutes to cook your food. Now there are microwaves that cook your food in under a minute, but they are not cooked evenly and many times your food explodes and sticks to the walls of your microwave.
This concept can be applied to fast appraisal expectations, especially from the new push from the ever-expanding appraisal management companies. You want your Appraisal done in 24 hours? Let’s just check a couple of boxes in our appraisal forms and send it to you. Lets all sit back and watch the mortgage companies explode like food in the microwave.
Most Appraisers active in the appraisal business agree that speed and accuracy does not “always” go hand in hand. And here we thought that some of these problems were supposed to be in the process of getting fixed by regulators that are now “paying attention”. However, this might be considered another example of the typical societal influence of instant gratification that is all too common in the 21st century.
So here’s the question: is this problem just societal influences or is it a mixture of things that make up the problem as a whole?
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