Miracles Do Happen - House Appraised Over Purchase Price - Real Estate Recovery Orange County NY
Well miracles do happen, or maybe its just a sign of the times and that there are areas in real estate where prices have been stabilizing and even going up.
With all the gloom and doom we hear in the media, its refreshing when something positive happens and we can shout out about it. Real estate is so very local and just because the market has been in a decline in some areas, it doesn't mean its on the decline in all areas.
I recently sold a home to a super young couple who were moving from nearby New Jersey to Monroe, in Orange County, NY. The home was a 2900 ft colonial, new construction and a great buy. At least, I thought it was a great buy when I negotiated the deal. The home was priced spot on and since they bought one of the spec homes, they got some added perks and extras thrown in which made it an even better buy.
I guess the appraiser agreed with me on that. The home appraised at 7% above the selling price. With so many stories of deals falling apart because the homes don't appraise, having an appraisal come in at purchase price and above is a real pleasure.
My buyers were happy, I was happy and the lender was happy - a win-win in my book.
So, don't let anyone preach doom and gloom to you. The market isn't all bad. There are areas stabilizing and others actually experiencing a recovery.
If you're thinking of buying or selling anyplace in Rockland County NY or Orange County NY and are looking for a local area expert to guide you through the process and point you in the direction of the stable markets, give me a call and I'll help you navigate your way through it all to find you the perfect home.