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Foreclosures weigh on home appraisals04 Jan

Are you looking to sell your home?  Are there a lot of foreclosures in your neighborhood? That is definitely going to have a negative affect on your home value.  This is a great article about that issue coming up around the country.  If you have questions about this article.  Feel free to contact one of our Real Estate Consultants and they can answer any questions that you may have about selling your home in this challenging market.

LOS ANGELES (AP) — It wasn’t the first time that Katherine Scheri ruined a real estate agent’s day with a low property appraisal.

Scheri, a real estate appraiser, had sized up a three-bedroom, two-bath house in Santa Ana, Calif., for $30,000 less than what the buyers offered to pay. A typical deal-killer for a seller.

The agent urged the lender to force Scheri to consider several other properties that could back up the original $310,000 sale price. Then he tried good old-fashioned guilt, telling Scheri her appraisal was going to ruin the buyers’ shot at the American Dream.

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