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    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.

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    The Jacobs Group has exceeded every expectation we had at the time we engaged them to sell our home.   A seasoned, experienced and professional team working on your behalf is a must during all phases of home selling and buying. There are far more details and nuances involved than anyone might imagine.   To have Pam Jacobs and her team represent us made our experience not only manageable but profitable as well.   Pam Jacobs and The Jacobs Group:
    • Advised a realistic asking p…
    Mike & Donna Baker - Lake Barrington Shores - January 2015