Accuracy of Appraisals Is Spotty, Study Says

(The New York Times) In the recent economic crisis, commercial landlords and lenders discovered myriad ways to find themselves on the brink of financial disaster. Excessive purchase prices — many based on faulty property appraisals — were a major factor, specialists say. Now, a new study has found just how inaccurate these appraisals can be.

Source: http://www.nytimes.com/2012/05/09/realesta...