Did You Know: Appraisals
Good Monday Morning!
Happy Labor Day!
A fact that is part of an improving Real Estate Market is that appraisals usually lag behind home value increases. This can take place because appraisals use home sale data from homes that sold and sometimes are not reflective as values increase rapidly. The result of this can be a home sale at top value that does not meet the appraisers opinion of value as supported by comparable home sales in the area. In this way appraisals control the speed at which a Real Estate market can increase and is really a healthy check on keeping Real Estate markets from jumping too quickly and creating an affordability crisis. Even though home sellers can sometimes be upset with a low appraisal the appraiser is one of the most important components of keeping Real Estate markets healthy over the long term.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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2647 Moon Mountain Dr
Lovely Home in Fantastic Location! Only 8 minutes from downtown with country-like setting! Located 5 mins from U of O, less than 10 mins from LCC, and neighborhood park one block away! Hardwood floors, ash cabinets, vinyl windows, classic front porc...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
