Yes it is true the market is picking up here in the Stafford, Fredericksburg (and Northern VA) area! We have run into situations where there are multiple offers on properties and we are having to come back with our "highest and best" offer. If the property is priced well they are selling and again with multiple offers in several cases.
According to one of our lenders, who is a broker, the latest update is that according to 5 VA appraisers and 3 of her lenders, VA appraisals are taking 4-5 weeks and lenders are taking just about that long to do the underwriting of the file. Yes some lenders are saying they are only taking 2 weeks, but with more homes selling the appraisers still can only move so fast.
This is a great problem to have to put closing out 45-60 days...this means everyone is busy and the market is moving! As we say in our Keller Williams office this is a win-win for everyone! Sellers are happy and buyers are as well..they may just have to wait a week or two longer to get to closing!
Comments(1)