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re: Are houses appraising in accordance with the inflated sales price?
Posted on 7/27/21 at 1:42 pm to Chef Curry
Posted on 7/27/21 at 1:42 pm to Chef Curry
quote:
I’m in the process of exploring a move. Ideally I would like to build, but with the current prices I just don’t think it’s feasible. I know a couple of people who sold recently. One of them sold for 40k more than they paid for the house in 2018. Are appraisals matching these inflated sales prices?
Well yeah lol. They use comps and comps are the strongest indicator when determining the current value of a home. They do not consider currently listed or pending homes though. Usually it is homes that were sold in the past 60-90 days
This post was edited on 7/27/21 at 1:43 pm
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