Over the past three months, real estate appraisals have held back more than one-third of home sales, according to a survey by the National Association of Realtors. Of the Realtors surveyed, 9% said a contract was delayed because an appraisal came in below the negotiated price, 15% said a contract was renegotiated to a lower price and 11% said a contract was cancelled as a result of a low valuation.
Category Archives: Selling a Home
Paint Colors for Your Home
Selecting paint colors for your walls can be a daunting task. There are so many colors to choose from! Some people simply feel stuck with the colors on the walls and live with them for years just to avoid the challenge of selecting a new color. Add to that the complexity of open floor plans and you can find yourself in a real dilemma.
Shrinking Housing Inventory
Both home prices and home sales in September continued at levels higher than last year, according to the RE/MAX National Housing report, a survey of MLS data in 52 metropolitan areas. For the eighth consecutive month, September’s median home price was higher than the previous year. Median prices rose 7.8% from September 2011. Home sales followed a seasonal pattern and dropped lower than levels seen in August, but maintained a level 0.5% higher than sales last year. Inventory was 29.1% below September 2011 and may have contributed to the drop in sales from August. While low inventories are creating bidding wars in some markets, they also have resulted in prices moving higher.
Today’s Interest Rates
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