"Long Island is continuing to slip, but a modest amount, " says Jonathan Miller, president of Miller Samuel, a New York-based real estate appraisal and consultancy firm.

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On average, one-third of real-estate agents said the appraisal process resulted in buyers and sellers delaying or canceling contracts or renegotiating to a lower sales price last year, according to a National Association of Realtors' monthly survey of roughly 3, 000 agents.

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The attorney general's office, which oversees charities in the state, wanted the former board members to carry out a formal appraisal and hire real-estate brokers to sell the property to the highest bidder.

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"The buzz is out and people want to explore the condominium potential of various sites, " said Gail Lissner, vice president of Appraisal Research Counselors, a Chicago real-estate research firm.

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For harder-to-value assets--say, artwork, real estate or an interest in a family business or partnership--the appraisal is a safer bet.

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Actually, lenders could care less what the property appraises for, it is the loan officer (me) and the real estate agent, Larry who care (a great deal) what the value result is from the appraisal.

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