Are Home Buyers getting their money's worth with their Lender-Required Appraisals?

A Los Angeles Times story with great information for Home Buyers:

By Kenneth R. Harney

When you pay $450 to $550 for an appraisal on a home purchase or refinancing, do you assume that all or most of the money is going to the appraiser who comes to the house and performs the valuation?

That's logical, but probably not correct. Despite Federal Reserve regulations that took effect April 1 requiring lenders to pay appraisers fair fees, growing numbers of them say they are still being offered $200 to $250 — even as low as $134 — for work that gets billed to consumers at $450 and higher. Click here for the rest of the story.