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Replies (2)
- Jay Knorr, "auburnalproperties"
- Contributions:146
Luanne, not sure about your market, but here in Southeast Alabama, almost all our appraisals are coming in high, which further proves that IT IS THE TIME TO BUY!
I wouldn't say that the appraisals are coming in much higher than the CMA's. It depends...
If you have good, recent comps for a neighborhood that's had a lot of activity, they're pretty close.
But! I have run comps for properties in neighborhoods that hadn't had any solds for a while, and come to find out, after the appraisal was done (after I had sold a house) it was greatly inflated from what kind of equity I had originally told my buyers that they'd be getting. Of course, they were thrilled!
- Wayne.T_ .....Colo.
- Contributions:1003
Curious for both of you ..... how is your local inventory and days on market? What accounts for the difference?
Appraisals much higher than CMA?
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- 0.0/5.0
- (no reviews)
Contributions:15I was wondering if anyone is running into appraisals that are much higher than the CMA figures you generate? I've run into this a couple times lately (ie., appraisal came in at $300K and the house isn't selling at $239K). Are the appraisal figures sometimes substantially higher than the price you recommend? (p.s. I'm in Albany, NY area).
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