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Valuations no one likes...
I have some good friends who purchased a home through me many years ago. They are looking to sell and move. So, I began the process of valuing their home and ran up against some issues. I kept coming up about $50,000 or so below what they paid years ago. Common sense dictates that usually a homes value increases over time. Unfortunately, this was turning out to not be true.
I have run valuations on their home about 10 times over the past year, always believing that I was missing something. This home sits on a hill with a beautiful view. The home itself is a beauty, weighing in at around 5,000 square feet. My gut was screaming at me, higher! My brain was saying lower.
So the potential sellers and I talked at length and I suggested they get a professional appraisal. This would help us determine what a buyer's loan company will see in the event of an offer. I was perplexed why I just could not seem to find a valuation that made sense. Then I received a call yesterday from these potential sellers.
He had been to an HOA meeting the night before and had spoken to another homeowner about ... more

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