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Prices are up. Housing starts are up. Construction jobs are up. Home-builder stocks have been surging.
Open House 'Frenzy' Caught on Tape! For Sellers, Its Like Winning the Lotto! For Buyers, There Ain't No Hope!
3/13/2013 09:49:22 am
I wonder if these buyers have the cash or if the appraisers are going to start feeling "coerced", again. Lots of offers and sight unseen is crazy bubble stuff. It must be nice. I want some. :-)
3/13/2013 09:51:32 am
well the appraisers and loan agents arent allowed to communicate directly anymore. and also, a lot of buyers now expect that places aren't appraising and are prepared to bring in the cash difference to close . my, how the market has flipped!
3/13/2013 11:31:25 am
Yeah but what is still not right is that the appraisers get the contract, so it doesn't matter if anyone communicates with the appraiser. He already has all the info he needs to adjust the appraisal to meet the offer price. Just not right. In order to have a true appraisal of value, the appraiser should never see the contract. Then let's see how many homes get appraised with these crazy offer prices.
3/13/2013 11:43:50 am
thats a good pt steve. they do have a copy of the contract. but if the comps don't exist, the comps don't exist. my pt is that many homes just are NOT to appraising but the buyers seem resigne to bring in th cash difference to close . it's not for every buyer, however it getting increasingly common . what's nexxt?!
3/13/2013 11:52:11 am
Herman is right. it took 8 months to get the buyer a home in san mateo and zipping the appraisal contingency is what it takes nowadays to defeat the 'all-cash' buyers. the appraisers getting in bed with just anybody these days ;-)
3/13/2013 11:53:08 am
the appraisers ARE NOT, rather :-)
3/13/2013 11:56:24 am
congrats on the san mateo deal antonio!
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