I had to open the door for an appraiser yesterday for a property where I represent the buyers in a purchase and he seemed a little opinionated. I know, appraisals are supposed to be “opinions based on market comparables” but he seemed a little too happy about the Sacramento housing market going down.
I kept thinking, Should I be worried for my buyers? The home is a cosmetic fixer and seems like someone’s failed flip, but perfect for my buyers that wish to put sweat equity into it and are first time buyers.
But the appraiser said he had no sympathy for investors because they drove prices through the roof and now we’re hurting because of them. And so, no - I did not mention that I was an investor and owned rental properties of my own. Why this hatred toward investors? At first, I thought I would put in my two cents and distinguish investors from flippers, but then I thought, Why bother?
I’m worried. I have a problem with passionate appraisers. And that worry happens to be in both directions, by the way. I would be concerned about someone being too optimistic as well.
Saturday, August 25, 2007
Should Real Estate Appraisers have Strong Opinions?
Posted by
Purva Brown - Sacramento Real Estate Gal
at
12:36 PM
Labels: By the Way, Real Estate Market
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