In answer to Kenneth R. Harney’s June 25 opinion column, “Appraisers fail to appreciate rising values,” the appraisers are trying to prevent another meltdown of the real estate market, healthy businesses are unhappy because the higher the value of a property, the higher the commission. This is called greed at its very worst.
We who own property want to get a just and fair value for our property. We don’t want an outlandish price that will put the buyer in jeopardy as well as ourselves. That is what happened, and many, many properties that were overvalued went into default.
We aren’t out of the disaster yet and won’t be until home prices become realistic and these greedy mortgage loan officers and realty agents see the light, and reality becomes real as the title suggests.
As for buyers, they should be able to own their homes free and clear when they retire. That is the very least of the American dream. As it is now, there is no possibility of paying off mortgages in our lifetime. A home becomes an albatross. Not fair, not right, not American. Let the buyer beware. Let the seller be fair.
Ann U. Harris