harvett,Please dont tell me how to do valuations or waive half a...

harvett,

Please dont tell me how to do valuations or waive half a r real estate course in my face.
In my time i have completed hundreds if not thousands of home loans and to be quite honest real estate agents on most occassions know stuff all on how to value a home.
I have been in the banking game for 20 plus years and i know exactly how real estate agents and the course works.
What do you think caused this financial crisis!!!

No matter what anybody in the good old usa said a home was worth 18 months ago now it is worth half that.
Why i hear you ask?
Because when something is for sale it is truely only worth what somebody is willing to pay for it!
So even if a real estate agent (who arent valuers they are pure slaes people to be a real valuer you have to do more tahn a two bit course) vaule it at 1 mill if somebody is only willing to pay $500,000 then that is what its worth.
And thats how the worlds economy is in the crapper, all the valuers/banks have placed values on homes but now there is a heap of them for sale they arent worth diddly squat.
So they dont get there money back so they dont lend
You argument is valid when it comes to lending to place a risk on a loan but you only find a true value of something when its for sale.
When a bank has a home valued by a registered valuer it is to detremine the risk and what price they will hopefully get if the home is sold.
But the bank truely doesnt know what they will receive until the property is sold because nobody knows the true value until then.
How do people value cars?
Whilst a car yard has a good idea they only will find out the true value when somebody offers to buy it.
Look how new car prices are beening slashed?
Why?
Because now people are only willing to pay a certain amount.
The car is not cheaper to build than it was 12 months ago so why should its retail value be less?
Because people are only willing to pay a certain amount so that is now its true value.
Mate im not having a go at you but one of the great facts of life is you will only truely find out what something is worth when you are offering it for sale.
Whislt valuations maybe close the only certain valuation is one somebody hands over the cash.
That my friend is a fact.