What If The Clarkston MI House Doesn’t Appraise?

What If The Clarkston MI House Doesn’t Appraise? A common misconception is that the house must appraise for sale price and if it doesn’t then the seller has to come down to make up the difference. First of all everything is negotiable. When you make an offer on a house you can specify that the [...]

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Attention Loan Officers- We are a team, working together. Keep up the snarky attitude and we can always change loan officers

Attention Loan Officers- We are a team, working together. Keep up the snarky attitude and we can always change loan officers. I don’t know when selling real estate became so confrontational- almost a contact sport. Sometimes a simple real estate transaction feels more like a pissing contest with everybody out to draw blood. Recently we [...]

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Am I Overpaying?

Am I Overpaying? Is the listing overpriced? What is the house worth? All questions, or variations of questions, most buyers ask when buying a house. They are valid questions with not easy or pat answer. The value of the home depends on your point of view. Webster defines “value” as “a fair return or equivalent [...]

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What Happens if the Appraisal is Low?

What Happens if the Appraisal is Low? Low appraisals (appraised value coming in lower than the agreed upon sale price) are becoming more common and will probably remain a problem for quite awhile to come. There are many reasons why appraisals can come in low, and it is usually NOT because the buyer was prepared [...]

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Could Incomplete MLS Listings Be To Blame For Bad Appraisals?

Could Incomplete MLS Listings Be To Blame For Bad Appraisals? I was reading a letter from our outgoing board president, John Burt, published in our monthly board publication. In the letter he writes about appraisals and mentions that appraisers read the remarks we put in the MLS profile sheet. He goes on to write: “That information [...]

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Why Are Appraisers Calling This a Declining Market? Prices are Up and Inventory is Low!

Here in Southeast Michigan- specifically North Oakland County Michigan- home prices have been creeping back up and inventory is much lower than this time last year. In fact in many areas we are looking at a 4-6 month supply of active listings. This week we had yet another appraisal come in low. And again the [...]

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Is the Appraisal for Your Protection?

When buying a home in Oakland or Lapeer County Michigan a standard contingency is financing (the buyer obtaining a mortgage for the house). Normally, part of the financing process is an appraisal, and the cost of the appraisal is born by the purchaser. So is this the purchaser’s appraisal? And is the appraisal for the [...]

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