By Joe Manzella on Jun 2, 2013. A recent article on CNN Money, Home Appraisals No Longer Derailing Sales, has our heads spinning. Consider this one more sign that the housing market is heating up: Appraisers are putting higher values on homes again, allowing for more deals to go through.
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Home appraisal isn’t an exact science, but appraisers use a lot of data to make as accurate an evaluation as possible. They evaluate the size, floor plan, and condition of the property, recent comparable sales in the neighborhood, as well as other factors that affect the market, such as recent infrastructure investments.
Home appraisals no longer derailing sales.. Between 2008 and 2010, appraisals for more than a third of Seattle-based real estate agent Michael Ackerman’s sales came in below the selling price.
The lingering hangover from 2008 housing crash and the ensuing regulatory regime has had a chilling effect on the appraisal business. Before the housing crisis, appraisers had close relationships with other professionals involved in the real estate transaction. Today, appraisers no longer have direct relationships with real estate agents and.
Home appraisals no longer derailing sales. Consider this one more sign that the housing market is heating up: Appraisers are putting higher values on homes again, allowing for more deals to go through.
A buyer offered to pay $5,000 above the $189,000 asking price. The appraisal came in above the selling price, Ameer says. Source: "Home appraisals no longer derailing sales," CNNMoney (May 15, 2013) Related articles. Home appraisals no longer derailing sales; The Actual Housing Crisis Is the Shortage: For all your real estate needs Email or.
CNN: Home appraisals no longer derailing sales. Posted by: RealtyPRO Administrator. Appraisers are putting higher values on homes, allowing more deals to go through, says Lawrence Yun, chief economist for the National Association of REALTORS.
A low home appraisal can ruin the sale of a home. Don’t let it happen to you.. Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated.
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A home appraisal also protects the bank from getting stuck with property that’s worth less than they’ve invested. And it protects you from paying too much for a house simply because it was love at first sight. The home appraisal is a no-nonsense factor in a decision that is often emotional for the buyer.