Home Price Changes by State - 02/12/12 10:30 AM
by The KCM Crew on February 10, 2012
InfoGraphic
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Where Are Rents Headed? - 02/08/12 11:28 AM
by The KCM Crew on February 8, 2012
People are delaying the decision to buy a home because they are not sure where prices are headed. If they buy and prices continue to soften, they feel that they will not have purchased at the optimal moment. They reason that, if they sit and wait, they can’t be hurt. This thinking assumes that a non-decision comes without consequence.
The normal retort to this thinking by people bullish on real estate is that prices may soon turn to the positive or that interest rates will start heading upward. Buy now before the … (1 comments)
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Do Appraisers Use Distressed Properties as Comparables? - 02/07/12 10:37 PM
by The KCM Crew on February 7, 2012
Many of our readers ask us if appraisers use distressed properties (short sales and foreclosures) as comparables when doing an appraisal on non-distressed properties. We have posted on this issue on several occasions (examples: here and here). Last month, the Appraisal Institute issued a paperon the subject. In the paper, the Institute explained that: “Foreclosures and short sales can provide important information for appraisers, who develop valuations based on market data and market forces.”
On whether an appraiser should use distressed properties as comparables, the Institute was very direct (all items in … (3 comments)
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