Appraisals are lagging behind the market

Appraisals are lagging behind the market

Letter to the Editor

By Inman News, Wednesday, May 16, 2012.

Inman News®

Re: ‘Top 20 metros for rising home prices‘ (May 9)

Dear Editor:

We agree with all that is being said regarding the changing markets — lower inventories, closer-to-list-price negotiations, and the potential for rising prices. But the issue we now encounter are the appraisals are lagging behind the market; therefore, they do not match the current market values or the sold price.

Challenges of the appraisals are met with disdain and then disapproval. Outcome: The buyer does not get the home they want at the price they are willing to pay, and the seller can’t sell their home at the current, rising market value. This perpetuates the slow recovery.

Carl & Rae-Lynne Swigart
Prudential Georgia Realty
Cumming, Ga.

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