Appearing in a nationally syndicated article March 1, Appraisal Institute President Sara W. Stephens, MAI, refuted accusations that low appraisals may be impeding home sales and a housing recovery. The story reached an estimated audience of more than 4 million daily print subscribers and unique online visitors monthly.
In the Philadelphia Inquirer story, which was picked up by The Sacramento (Calif.) Bee, The Wichita (Kan.) Eagle, The (Boise) Idaho Statesman, The Syracuse (N.Y.) Post-Standard and other print and online publications, columnist Allan J. Heavens noted that 18 percent of realtors surveyed had sales contracts canceled because of appraisals that did not agree with lenders.
Stephens defended the valuation profession, emphasizing that appraisers continue to undertake the same through research and thoughtful analysis necessary to produce reliable, credible opinions of value. “Appraisers don't set the real estate market; they reflect what's happening in the market,” Stephens said in the article. “Obviously, the market is depressed – home prices have fallen far below the values of a few years ago. Many homes simply aren't worth what their owners think they are.”
In unrelated coverage, Stephens also appeared in Valuation Review and in Mortgage Banking magazine with Appraisal Institute President-Elect Richard L. Borges III, MAI, SRA; Vice President Ken P. Wilson, MAI, SRA; Immediate Past President Joseph C. Magdziarz, MAI, SRA; and Chief Executive Officer Frederick H. Grubbe, CAE.
Also appearing in national media coverage this past week were Jonathan Asker, SRA, and Frank O’Neill, SRA, in Valuation Review.
These stories are among the recent media coverage included in the “AI in the News” feature on the members-only section of the Appraisal Institute website.
Appraisal Institute members appearing recently in local media coverage include Tom Ganiere, Associate member, Chicago Tribune; Braden Gustafson, MAI, Everett (Wash.) Daily Herald; Robert Von Ancken, MAI, New York Post; Michael Bernholz, MAI, SRA, Kingston (N.Y.) Daily Freeman and Middletown (N.Y.) Times Herald-Record; William Kinn, MAI, Long Island (N.Y.) Newsday; John Rynne, MAI, SRA, New York Real Estate Journal; Amanda Luscombe, Associate member, Des Moines (Iowa) Register, Quad-City (Iowa) Times and Sioux City (Iowa) Journal; Jay Goldman, MAI, SRA, Steubenville (Ohio) Herald-Star; Chris Vigil, Associate member, San Gabriel Valley (Calif.) Tribune; David Zoraster, MAI, LA Weekly (Culver City, Calif.); Tim Wilmath, MAI, SRA, Tampa (Fla.) Tribune; Keith Hopper, MAI, and Larry Hopper, MAI, SRA, Hanford (Calif.) Sentinel; and Steven Shaykett, MAI, Michelle Koeller, MAI, Julie Bjorklund, SRA, and Frances Odenthal, MAI, St. Paul (Minn.) Pioneer Press.
See the latest media coverage about the real estate valuation profession, the Appraisal Institute and its members. Media coverage at “AI in the News,” found on the member log-in page of the Appraisal Institute’s website, is updated daily and also includes the latest news releases from the Appraisal Institute.