Appraisal-Challenges-STM

Home values continue to climb and are projected to increase by about 5% over the next twelve months. That is great news for anyone who owns a home. However, it could present a challenge for a family trying to sell their house.

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 sales price when performing the appraisal for the bank.

The National Association of Realtors (NAR) recently released information revealing just how prominent the challenge is in today’s market.

Click on the photo above to read about what the appraisal challenges are and how they affect sales.  Then call OWN THIS HOME TEAM and we will help you with all of your real estate needs!