5 Reasons Why To Sell This Summer!Here are five reasons listing your home for sale this summer makes sense.1. Demand Is StrongThe latest Buyer Traffic Report from the National
Appraisers Homeowners Dont See EyeToEye On Values
In today’s housing market, where supply 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 Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home 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, meet with an experienced professional who can guide you through this, and any other obstacle that may arise.
For almost a decade I have been serving the real estate community. I am member of the Mississippi Gulf Coast Association of REALTORS® and the National association of REALTORS®.I am a Military Reloca....
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Homeowners & Appraisers See The Most Eye-To-Eye On Price In 3 Years In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many