The banks are helping to bring down property values even more by their strict standards. An appraiser typically needs comparable sales within the past 6 months. The banks are requiring them to be in the last 3 months, an active sale, a pending sale, and you aren’t getting much for having upgrades and a sound property. Put on top of that the new guidelines that they have for ordering appraisals. The article below mentions how a lot of the appraisers are inexperienced. It is funny that they say that because prior to reading this article the appraiser I have used in the past said the exact same thing. They also go onto say that the banks are profiting from this and the appraisers are getting paid much less than what they would have received prior to the change.