I can only really speak from personal experience on the Atlanta metro area, but here is what I have noticed; appraisers, loan officers and agents are dropping like flies, the educational requirements to become an appraiser have been raised, the experience/education level to move up to a higher license designation as an appraiser has been raised, lenders are actually taking the time to read the market analysis section of an appraisal report (they are not just assuming that every area is doing well and increasing in value anymore) and working with the appraisers to better understand the market, the requirements for a borrower to obtain a loan have been raised and so on. Basically everything is under the microscope and these are all positive things.

Like I said, it is FAR from perfect, but I do think it is slowly moving in the right direction. It was so out of hand before that it will take some time.