It's a tough job to be in, and I've really yet to have a deal fall apart due to a poor value coming in. Remember, everything is negotiable in Real Estate, just depends on how well those negotiations are handled. And, how bad the appraisal value comes in!
Onward....apparently 54.7 of those appraisers polled responded that they have 'Mildly or Moderately Strong' confidence in the housing market. 24.9 were neutral. So, just about 20% were still nay-saying about our rebounding market. Truly after the last few years of our nation wide housing mess, for that many to feel good about our markets? It's wonderful news!
It's more likely we will start to see an adjustment being made for an upward swing market if the appraisers are feeling more confident about the situation of housing. Not right away, but definitely will be coming along.
They do note that once we get investors out and interest rates bump up, the frenzy will slow down, and of course, the recovery will slow down.
I'm still good with that, you?
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