Real estate appraisers in 2009 have been struggling with trying to analyze real estate markets that are basically one sided, they simply lack any sort of demand.  Like the failure of Economists to explain the reason for the financial collapse, appraisers generally fail when attempting to express "market value" opinions, because as a matter of fact, real estate "markets" do not really exists for some property types in some areas.

Since federally insured lenders now often don't need a full appraisal report, demand has strengthened for broker price opinions (BPOs) in many states. Appraisers have seen real estate agents getting valuation work that they assumed would belong to them, so a move is on to find an appraisal product that will allow appraisers to compete for the work.

Appraisal management companies or AMC's have effectively become a subsitute "third-party" in the appraisal ordering process.  Many financial institutions have started using AMC's in an attempt to distance themselves from being accused of appraiser influence.  Unregulated AMC's could, however, become involved in any number of acts that could influence appraisers or bias appraisal results.  In my opinion, AMC's should be held to a high standard, and they should be willing to take responsibility for their actions.

HVCC (Home Valuation Code of Conduct) being implemented on May 1, 2009 residential real estate appraisers are about to enter a new business environment.  Gone are many of the neighborhood mortgage brokers with whom appraisers used to work.  Here are new AMCs (Appraisal Management Companies) that are gaining control over the supply side of the appraisal market, and of course most of these firms have their hand out for a portion of the appraisal fee.