Appraisals Causing Delays And Cancellations

Appraisals Causing Delays And Cancellations

Home values continue to climb and are projected to increase by about 5% over the next twelve months. That is great news for anyone who owns a home. However, it could present a challenge for a family trying to sell their house. If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the sales price when performing the appraisal for the bank. The National Association of Realtors (NAR) recently released information revealing just how prominent the challenge is in today's market. 


Home Prices Are Up...but there is a Challenge | Keeping Current Matters


And the challenge is deepening... 

Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser's evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months. 


Home Prices Are Up...but there is a Challenge | Keeping Current Matters 

As we can see the difference has increased each of the last two months.


Bottom Line 

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank's appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, meet with an experienced professional who can guide you through this, and any other obstacle that may arise.



Deborah Boyd Headshot
Author:
Phone: 940-368-1306
Dated: April 21st 2016
Views: 1,273
About Deborah: My family has lived in North Texas for generations so I personally know the residential areas of Fri...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Budget Kitchen Remodeling - Budget Kitchen Remodeling: 5
Is Your Vacant Home Languishing On The Market Why Staging Might Spark A Sale - Is it better to put a home up for
Add Value To Your Home With New Windows - “Adds value to your home.”’
Hiring An Agent To Sell Your House May Cost You NOTHING - There is no doubt that it is

Our Bloggers

The Doyle Team * - 2
Comprar Casa DFW * - 4
Nikki Acker - 3
Gabrielle Armstrong - 5
Cara Balderas - 59
Tami Bennett - 45
Ramon Bermudez - 3
Justin Blackburn - 1
Jessica Boozer - 18
Rhonda Borgne - 1
Olivia Borowski - 1
Jennifer Boyd - 2
Deborah Boyd - 390
Jamie Brannagan - 1
Kathryn Brick - 1
Annette Bruen - 47
Moira Brunken - 18
Beverly Bryant - 24
Ana Cantu - 1
Lisa Cardillo - 53
Bob Cardillo - 4
Lisa Carroll - 2
Lucina Cervantes - 11
Gregory Cornett - 2
Angela Cotten - 93
Missie Craig - 12
Greg Cunningham - 2
David Darty - 1
George Dean - 1
Sarah Dieter - 9
Belinda Duff - 5
Eva Duffy - 7
Leah Ecob - 15
Kristine Edens - 3
Jill Elliott - 99
Laneal Ernest - 9
Nicole Espinosa - 27
Christopher Evans - 1
Heather Feragotti - 8
Mark Fischer - 2
Susan Florsch - 12
Jennifer Flynn - 9
Leslie Fogle - 101
Larry Frassinelli - 6
Chad Gabriel - 58
Shalee Garza - 10
Marcos Garza - 1
Tammy Gill - 1
Timothy Gilliam - 2
Christina Gonzalez - 5
Brigette Goode - 1
Wilma Goodwin - 2
William Graves - 5
Jimmy Hanks - 1
Kristen Henderson - 1
Candie Hernandez - 2
Beth Herr - 1
Hunter Howard - 1
Sandra Hunt - 92
Bill Hurd - 3
Gary Hutchings - 20
Rachel Jama - 47
Trenton Johnson - 15
Marla Johnson - 1
Felicia Johnson - 79
Dakota Joyner - 9
Sunil Kanjia - 7
Jemi Khan - 26
Leigh Klotz - 5
Amber L Johnson - 9
Michele Lafortune - 22
Wanda Lewis - 2
Dylan Lochhead - 1
Maria Lopez-Jones - 1
Stacy Lynn Massar - 27
Chuck May - 1
Jennifer Menting - 17
Mikki Migis - 8
Richard Mikus - 1
Sean Moniri - 21
Naddia Morales - 10
Candace Mozingo - 1
Mark Mulch - 19
Erick Murphy - 6
Steve Murray - 1
Julie Nicholson - 10
Nikki Okpuzor - 3
Alan Oliver - 7
Kaysone Orlando - 1
Holli Paddio - 3
JP Piccinini - 165
Julie Ann Pickering - 85
Ann-Marie Pope - 2
John Priestash - 42
Mimi Rader - 1
Shelia Randolph - 33
Teneka Ray - 1
Go 2 Girls Realty - 173
Bethany Rowan - 15
Kristi Roy - 1
Kelly Rumney - 9
Amy Jo Saenz - 3
Linda Scardis - 4
Sandy Setliff - 222
Christine Shannon - 30
Rene Sinclair - 27
Shelby Smith - 3
Rebecca Smith - 1
Bryce Smith - 5
Monica Solkhon - 1
Malena Solorzano - 1
Rodrigo Sotomayor - 16
Jenna Stanley - 9
Tim Stoll - 49
Kelley Stubbs - 3
Melodie Sulgrove - 1
Seana Taylor - 217
Mary Taylor - 15
Kevin Taylor - 15
Julian Taylor - 17
Erica Taylor - 54
Angela Taylor - 1
Karla Terrell - 2
Joey Thomas - 2
Michele Thompson - 6
Jason Todd - 24
Andrea Trimble - 55
Sarah Uber - 5
Yael VanGruber - 1
Diane Velez - 18
Debbie Viverito - 132
Rachel Walsh - 2
Nick Walton - 78
Spring Weeks - 9
Clint White - 2
Michael Worley - 164
Martina Worley - 2
Keisha York - 30
Audra Young - 1
Debbie Zurita - 17

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6136 Frisco Sq Blvd, #200
Frisco, TX
972-375-9448


Other Locations