Staying Ahead of the Appraisal Game

Just the mere mention of the word “appraisal” makes some of us cringe. CS-KU-Appraisals1-532x210
You can spend countless hours working a deal, putting it together, getting through inspection issues, only to have the home under appraise. This has happened to us twice in the past 6 weeks. What this means is that the appraisers are not keeping up with the improving market. It would also help if we were able to use local appraisers like we used to that have knowledge of the area. An appraiser from Porterville does not know our local market here. Okay …. I feel better now!
With the appraisal issue being said, our market has definitely improved over the past year and a half. Our inventory has decreased, our Price per square foot has increased about 12% to 15% and the Days on the Market are getting less and less. Also the foreclosure market has declined, which is a good thing as distressed properties typically bring neighborhood values down. So we are still on an increasing market. Yeah!
Please take a look at the CMA (comparative market analysis) to the right of this text to view the December numbers.
We look forward to a great 2014 and sincerely hope that this year is the very best for you and your family.
And as always, thank you for reading our monthly blog and feel free to post any comments.

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