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Friday Diary of a Charlotte Realtor® - 23JUN17

By
Real Estate Agent with Savvy + Company (704) 491-3310 228209

Friday Diary of a Charlotte Realtor® - 23JUN17

I know I probably say this every Friday but, is it Friday already?!  What a dreary, rainy and cool week we had here in Charlotte! Thankfully, today, we saw a little bit of sunshine and hopefully we're good for no more rain for a couple of days - it's just downright soggy in Charlotte right now!  

The real estate market isn't soggy though - thinventory is one of our main obstacles in Charlotte real estate this week as are issues with love appraisals. The saga continues for two of our clients -  one buyer and one seller. The other 3 have been resolved but, these two just keep...on...going!

One appraisal came back with a $3,000 increase (we needed $20K) based upon our rebuttal but, the main erroneous comparable was still on the new appraisal!  (remember this one):

 

WHY? Appraisers are KILLING us!


The lender has refused to allow the buyer a second appraisal. So, the buyers and sellers agreed to having an independent appraisal and we'll go from there - stay tuned for next Friday's diary entry - this will be resolved by then!

The other lender has agreed to a field review and we feel very confident that they will allow a second appraisal on that one. We needed $20K and presented the appraiser with at least $29K and he refused to make a single adjustment - including 80 square feet 'missing' from the measurements! It's one of the worst appraisals I've ever seen and the lender's appraisal review committee agreed once we presented the errors - thankfully! Again, stay tuned for the resolution next Friday!


 

One Closing for this week was moved to next week and one for the following week, also moved to next week - lots of scheduling and re-scheduling this week!  Inspections were good and bad and getting through 2 Due Diligence Periods that ended today early was the icing on the cake for the week!

 


 

On a personal note, my youngest son and his girlfriend took my husband out for Father's Day on Sunday and, of course, I got to go too! We had a delightful time! Afterward, we visited my father-in-law, who is suffering from Alzheimer's. He may not know who we are but, we wanted him to know he is loved and to wish him a Happy Father's Day. We spent the rest of the afternoon running errands together (Ray & I) as that is what he wanted to do for his Father's Day!  I was exhausted by the end of the running around!  LOL

 

My oldest son and his wife adopted THE cutest puppy last week!  I'm head over heels and have decided that if I can't have little human grandchildren, grandfurbabies will have to do!

 

 

Favorite Charlotte Home Buyer!We celebrated the Closing of one of our favorite buyers who was just a gem to work with! We had been working with her for about a year, showing her 1-2 homes each quarter. During that process, she referred me to one of her dear friends, who actually Closed on their purchase before she did!  

 

The old saying about friends attracting those who are similar was definitely the case with this referral - these friends were such a wonderful delight to work with as well. #LifeIsGood

 


 

One new listing and two open houses for tomorrow and we already have Offers on the new listing! Did I say this market is INSANE?!  

 

 

Here's to a wonderful week ahead for you and yours! Today, I'll leave you with this thought:

 Never Give Up!

 

© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com |Friday Diary of a Charlotte Realtor® - 23JUN17

Comments(26)

Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Debe -- definitely a full week for you.  It looks like your area is experiencing some appraisal issues and they can certainly be challenging in a market where prices are rapidly changing.   In competitive situations in my market, removing the loan/appraisal contingency(and showing the ability/desire to come up with extra cash if necessary) can make a difference in getting an offer accepted.

Here's to a good weekend and an upcoming week that provides inspiration for another diary post.    

 

Jun 24, 2017 07:15 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Sounds like a very productive week for you.  Hopefully is is a nice weekend filled with sunshine.

Jun 24, 2017 09:51 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

That's one busy week's diary, Debe Maxwell, CRS ... I always figure that we in our industry can at least say life is never dull!

Love the graphic and message at the bottom of your post ...

Gene

Jun 24, 2017 09:58 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

It's amazing what appraisers are being allowed to get away with, Debe, and primarily because they are rarely challenged. I agree completely with you about those comps. Why would they use a comp of a frame house when there was another brick home available as a comp? That makes no sense.

Thank goodness you're in the trenches pulling these things together because I shudder to think what would happen in the hands of a less experienced agent in Charlotte.

Jun 24, 2017 05:08 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wow what a week for you Debe, and it is a new one on me that the Leder would not allow a second appraisal, strange things are happening... I look forward to Dodd Frank being canned, Endre

Jun 24, 2017 11:06 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Sounds like an action packed week....and one enjoyed by many....keep 'em coming !

Jun 25, 2017 04:29 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Hi Debe Maxwell, CRS - What a lovely and productive recap, especially because of Father's Day. May you all be blessed and your business strong and healthy too!

Jun 25, 2017 01:27 PM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Congrats on the grandfurbaby! We got our first grandfurbaby this year also - a delightful cat named Felix. 

Jun 26, 2017 05:56 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Joan Cox - Can you send your appraisers our way? I can teach them the areas so that they will know what compares and what doesn't!

Jun 26, 2017 06:26 AM
Joan Cox

Being in our fourth years of 10% home values increasing, our appraisers are much more lenient, but took a few years for them to "get it".   When you get 10-20 offers all way above fair market, they have to do some adjustments.

Jun 26, 2017 06:35 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Brian England - But, I don't get to do the fun things -- like hiking! This morning, I'm trying to keep a deal together - as much as I love what I do, I'd rather be hiking!  

CALGON...TAKE ME AWAY!! 

Jun 26, 2017 06:28 AM
Brian England

Well, keeping the bills paid is more important than hiking, haha.

Jun 26, 2017 06:38 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Michael Jacobs!  Those are the delights to work with - the ones who remove the appraisal contingencies!  OH how I wish these two could have been removed!

Jun 26, 2017 06:29 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Belinda Spillman!  You know how you look back on your week for accomplishments?  Well, I wish I could look back on last week and have both of those appraisal issues put to bed already! As fast and as hard as we worked on both, we're still pending results!  UGH!  

Hope you have a wonderful week, Belinda!

Jun 26, 2017 06:30 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Thank you so much, Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi!  Yes, life is never dull in our business - even when business is slower, there's always something challenging going on with a few of the deals!  LOL

Hope you have a fantastic week, Gene!

Jun 26, 2017 06:36 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents - Thank you!

We are in TOTAL agreement with you about the frame house - it just makes no sense other than the appraiser actually LIVES in that neighborhood and evidentl thinks that his home is comparable to a FULL BRICK high-end home, also with a side-load garage and on a very appealing lot!  Ugh! If I don't have both of these put to bed by the end of this week, I may have no hair left - I may have pulled it all out!  LOL

Have a fantastic week, Elizabeth!

Jun 26, 2017 06:39 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Endre Barath, Jr. - It was one of those 'fun' weeks in real estate, for sure! The day Dodd Frank goes away will definitely be a celebratory one for many!!

Hope you have a wonderful week, Endre!

Jun 26, 2017 06:40 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Sally K. & David L. Hanson!  Yes, it was definitely action-packed and this week has already begun as another 'fun' week too!  Don't you love what we do? There's always a challenge, yet so rewarding in the end!  Happy Monday, Hansons Both! 

Jun 26, 2017 06:41 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Thank you so much, Patricia Feager!  Yes, it was a wonderful week...barring the appraisal issues that have plagued me the better part of 2 months!  I'm ready for a fantastic week and I hope you have one as well!

Jun 26, 2017 06:43 AM
Patricia Feager, MBA, CRS, GRI,MRP

Debe Maxwell, CRS - Thank you! I need positive energy this week too! Tomorrow is closing day for me.


May your week hit some positive high notes! Enjoy every minute that comes your way. 

Jun 26, 2017 06:56 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Wayne and Jean Marie Zuhl!  Oh my gosh, I'm hopeful that my son & daughter-in-law also get a cat - I told them, a house without a cat, is not a home! LOL

Have a wonderful week!

Jun 26, 2017 06:44 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Debe, 

There is nothing more frustrating than a terrible appraisal and a terrible appraiser running amok in our real estate world. It makes our jobs so much more difficult. 

Jun 26, 2017 06:52 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

AMEN, Sheri Sperry - MCNE® - I found out he's also been in the business only a year - that helps with the argument/rebuttal but, they're still not listening. It's more than frustrating!  

Jun 26, 2017 07:00 AM