appraisals: Low Interest Rates + First Time Buyer Incentives = Home Does Not Appraise - 05/29/09 03:47 AM
I am in the Bay Area - primarily Berkeley and Oakland.  We have been experiencing a new twist in this interesting market place for the past three weeks.  We are again seeing multiple offers - real multiple offers.  I have been involved from the Buyers side in two situations with 10 offers during this time period.
The scenario seems to be that first time Buyers - supplemented by artificially low interest rates and first time buyer incentives - are bidding to a point where homes are going into contract for 5-10% more than the same home would have sold for in … (4 comments)

appraisals: Berkeley Real Estate: What can go wrong with your loan approval! - 05/06/09 06:32 PM
Last night I had dinner with a highly competent and experienced loan broker who is also a friend.  She was feeling terribly down about the lack of control she is experiencing the in current market.  I suggested that she make a list of "can you believe" loan and appraisal stories to give to clients.  I thought that if the clients could appreciate the difficulties of getting through underwriting as of May 2009, they might not take delays and additional inquiries so personally. 
One of the examples she gave me was shocking.  The underwriter, as a final loan condition not previously mentioned, wanted an explanation of why the … (0 comments)

 
Chris Cohn, Berkeley California Real Estate (Pacific Union Real Estate)

Chris Cohn

Berkeley California Real Estate

Berkeley, CA

More about me…

Pacific Union Real Estate

Address: DRE License #00517934, Offices in Berkeley & Oakland

Office: (510) 301-1400

Fax: (510) 291-2929



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