The velocity in the market is incredible. Even with limited supply, volume continues to approach record levels. With a few exceptions, appraisers that are close to the local markets are finding comparable sales to support purchase prices significantly over asking price.
Make sure, Buyers, that you understand it is always better setting the new comparable sales in a neighborhood vs. reacting to them a month later. This is the exact opposite phenomenon we experienced in the 2009 – 2011 market where we were giving Sellers the same advice in a depreciating market.
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