In today’s housing market, wheresupply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.
If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the selling price when performing the appraisal for the bank.
Every month, Quicken Loansmeasures the disparitybetween what a homeowner believes their house is worth as compared to an appraiser’s evaluation in theirHome Price Perception Index (HPPI).Here is a chart showing that difference for each of the last 12 months.
Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this, and any other obstacle that may arise.
Author:Bonnie Lelak Phone: 404-788-2580 Dated: November 3rd 2016 Views: 70 About Bonnie: Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program ho...
As a Realtor I have been able to use many of the skills that I have learned from my previous experiences. I spent the past 10 years owning a home inspection company with my husband and watched as buyers would find a home and then have it inspected and be disappointed with the findings. I love being able to help buyers from the start of the process. As a buyers specialist I can help clients look at homes with a different eye, always looking for tings that the home inspector will find issues with and helping my clients see possible issues before going under contract, saving them time, money and heart ache. Servicing all levels of buyers, from the first time home buyers to the luxury buyers. The finishing touch is being able to provide them with tools that can help them pay off their home in less than half the time. Helping buyers find their dream home is very rewarding.
As a listing specialist, I find unique ways to get the attention of the buyers, from text marketing, video, and getting your home listed on the first page of Google, it's all about exposure. I use all the outside marketing tricks and tips that I used and learned over the past 8 years to get the word out about your home. Contact me to find out about my exclusive marketing plan!
Mortgage interest rates, as reported by Freddie Mac, have increas
"Bonnie is a very conscientious real estate agent with the utmost integrity. If Bonnie does not know all the facts of a question or requested information she will tell you up front that she may not know all the details but she will certainly do her best to find the answers and will not mis-lead you. Bonnie is very Spiritual person and is a pleasure to work with. We came to know each other quite well on the last 6 months and We would highly recommend Bonnie to represent any of our friends, relatives, associates or church members.
Again it was a pleasure to work with Bonnie and we do plan to work with her a gain in the near future.