• Home
    • Uncategorized
    • Q&A with Pam – Getting Homes to Appraise with Increasing Home Prices

    Q&A with Pam – Getting Homes to Appraise with Increasing Home Prices

    Question: I keep hearing that getting homes to appraise can be a real challenge in this market. With prices increasing, is this still a big issue?

    Answer: Changing market conditions create real challenges for appraisers. The appraisal process is rooted in an analysis of past market performance (data on recent closed sales) and current market trends (not as easily quantifiable). As prices rise, it becomes difficult to find comparable sold properties that justify the higher prices. I attend the appraisals of all of my under contract listings and provide analysis of not only recent closed sales (most of which I have personally toured) but active listing competition as well, providing critical perspective to the appraiser. Over the past 5 years, I have a 99% success rate in achieving appraisals at or above the contract price.

    Trackback from your site.

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the local area.

    Testimonials

    October 2014 Pam Jacobs is absolutely the best realtor anyone could ask for. The same applies to her team. Because of Pam’s expertise and professionalism, our house sold quickly and at a price with which we were very satisfied. The entire process…from start to finish…was such a positive experience. Too, Pam’s personal character added so much to our enjoyment of her being our realtor. She is an exceptional person and professional.
    Teri Bridge, Deer Park