Today was a tough day for my sellers.  The reality of the new appraisal rules are starting to hit home. We have had offer-counteroffer and recycled once again.  We hit what appeared to be a firm wall with tight parameters based on emotion and finally I brought it all home.  The appraisal value now controls the deal !

My explanation to the seller was " put the offer out and let the appraisal decide".  Right now , with tight cash, reluctant Maui buyers and a declining market, it puts the weight of the decision on the appraiser.  What buyer is going to pay more for the property than the appraisal value?

We have had several deals this year be re-negotiated by this method. As Realtors, we can take them only so far and then let the market decide. 

Buyers, Sellers, and above all Realtors, don't let emotion decide your future.  We didn't make the market, we live in it !

 
Posted by Tracy S Stice on 07/11/2009 04:36 AM   Comments (0)   Appraisal Values in the ActiveRain Channel  
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Tracy S Stice

Haiku, HI

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Hawaii Life Real Estate,ABR, CRB,CRS,GRI, Green

Address: 161 Wailea Ike Place Suite C103, Wailea, Hi, 96753

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