appraisals

Since the market began to slip in the mid-2000's, it has become harder and harder to get favorable appraisals. Especially on investment oriented properties, such as multi-families and rental homes, with so much of the local market dominated by foreclosures and cash investors.  When there are no comparables to be found, most appraisers are going to look at things from an income approach. They are going...

For the last two weeks I have been in a pretty upbeat mood. I had finally got my rehab project at 3969 Humphrey under contract and a smooth closing looked to be all but a sure thing. Now, the contract has fallen through and the property is back on the market (a steal at $127,750 if you are looking for a house ;-) ) . So what happened? The appraisal came in last night. It came in at $101,000! For my...