Miracles Do Happen - House Appraised Over Purchase Price - Real Estate Recovery Orange County NY

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Real Estate Agent with Coldwell Banker, 170 N Main Street, New City NY 10956

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.

Jens House

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.

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Lora "Leah" Stern - Your Rockland County, NY REALTOR of Choice - (914) 772-4528

Your Rockland County, NY Real Estate SpecialistLeah Stern Signature Photo

Lora "Leah" Stern
Real Estate Salesperson
Coldwell Banker Residential Brokerage
(914) 772-4528 CELL
(845) 634-0400 OFFICE
(862) 345-2463 FAX

If I can assist you in any way with your real estate needs in Suffern, NY Rockland County or the surrounding areas, please feel free to contact me by phone at (914) 772-4528, email me at Leah.Stern@cbmoves.com or visit my website .

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Ambassador
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Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Leah, so far this year, I have had 4 appraisals come in higher than sales price!

You should submit this post to the Real Estate Recovery Contest - go to Contests on the top of the page!

Aug 02, 2011 03:59 PM #1
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Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

I had that happen once this year too, and my buyers were ecstatic.  Especially since they'd expected to buy much lower than asking. After losing one purchase to multiple offers, they got with the program. They offered asking, were countered at a couple of thousand over and thought the bank (it was a REO) was stiffing them. I said, no not according to the comps. The appraisal gave them a lot of peace of mind.

Aug 02, 2011 04:05 PM #2
Rainer
246,637
Daniel H. Fisher
www.FisherHermanRealty.com (704) 617-3544 - Charlotte, NC
MCRP - Charlotte Real Estate, NC or SC

We regularly negotiate purchase prices for clients who are buying a home in Charlotte NC and SC that are below appraised value.

Aug 02, 2011 04:15 PM #3
Rainmaker
781,096
Andrea Bedard
Thompson Company, REALTORSĀ® - Silver Spring, MD
M.A.; REALTORĀ® Silver Spring, MD and beyond

Leah, that's the kind of story I would love to see on the front page of my daily newspaper or any newspaper for that matter. Wonderful news for your buyers and you.. and I'm sure they'll spread the word, too! I thank you for ending my day on a very positive note.

Aug 02, 2011 04:17 PM #4
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Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTORĀ®

Wow! 7% above the purchase price.... that IS unheard of these days! Good for the buyers! (Sorry, Sellers AND listing agent!).

Aug 02, 2011 04:40 PM #5
Rainmaker
504,201
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Virginia - Good for you!!  And,m I plan on submitting this but thanks for the reminder.

Karen - Glad you all came out winners.

Daniel - Lucky for you that they all appraise.

Andrea - I'm much obliged.  ANything I can do to help bring cheer into your life....

Joni - Listing agent (and builder) never knew how much over but definitly happy buyers.

Aug 02, 2011 04:54 PM #6
Rainer
90,940
Diane Grady
Endless Summer Realty - Saint Augustine, FL

That is great news. Congrats to you and your buyers! I hope that this is a sign of more good things to come! Thank you for sharing.

Aug 02, 2011 05:38 PM #7
Rainer
509,862
Cliff Keith
Golden Gate Sotheby's International Realty - Redwood City, CA
Redwood City Real Estate

Lara,

Yes it is all about prospective isn't it?

I read recently that 60% of American Homeowners will NOT sell or buy a home in the next 2 years.  Is this bad news?

I think it's great news!!! That means there are 40% of homeowners out there ready to buy and sell real estate.  That's a rosey picture to me.  How about you?

Aug 02, 2011 08:27 PM #8
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Now that's the type of story we like to hear on ActiveRain Lora........excellent news.

Aug 02, 2011 10:30 PM #9
Rainmaker
2,766,601
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

That is a great sign Leah.  So glad to hera things are improving.  (PS: I hope it's not a glitch).

Aug 03, 2011 12:03 AM #10
Rainmaker
504,201
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Diane - Wouldn't it be nice if this were indicative of future appraisals!

Cliff - I love the way you think!

Roger - Hopefully its the beginning of shedding that worrysome feeling you get everytime ther's an appraisal scheduled.

Debbie - Looking for more "miracles".

Aug 03, 2011 02:40 AM #11
Rainmaker
1,037,008
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Leah - Good news for the Recovery Train  .....  and highly unusual as mortgage appraisals seldom come in over the sale price

Aug 03, 2011 02:43 PM #12
Rainmaker
507,232
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Good stuff Leah. It is rather amazing, I guess that tells you my mindset is not as positive as it should probably be.

Cal

Aug 05, 2011 02:58 PM #13
Rainmaker
504,201
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Kathy - Lets hope that it continues in that direction.

Cal - Let's work on changing that mindset!

Aug 06, 2011 03:22 PM #14
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Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

HI Lora,

Great report and further indication that we are turning corners one sale at the time, Rocland County is Rocketing towards real estate recovery..... Good for you for reporting an excellent success story.

 

Aug 08, 2011 08:08 AM #15
Rainmaker
504,201
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Pete & Linda - Hope this is the first of many.

Aug 09, 2011 01:33 PM #16
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

That is GREAT news! 

Aug 10, 2011 01:02 AM #17
Rainmaker
504,201
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Cindy - Isn't?  Lets hope we all contiue hearing more of the same.

Aug 10, 2011 01:26 PM #18
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