Needless to say, the market is always determined first by neighborhoods and even specific complexes in order to get an accurate report or appraisal. Then why are our Hawaii Appraisals and Hawaii Homes Market Reports all over the place?
I have NOT ever OVERPRICED A LISTING.....on purpose. I have done the math, the area comparable properties by year, sq/ft interior, sq/ft land, # bedrooms, baths, location, rim or inside lot and anything and everything regarding upgrades, condition and so forth. All of these points have to be taken into consideration in order to give a price range for my sellers to list their property for.
Appraisals are the kicker here. Why would a Conventional Loan Appraisal and a VA Loan Appraisal be any different for a like kind property? I’ve watched the market and what properties have SOLD for. In the majority of viewed SOLDS not just a couple properties but a LOT of properties had sold prices way under or way over.
The difference was the TYPE of loan it was being appraised for.
My only concern is for the accuracy in determining a property price range in order to have a smooth transaction for the Hawaii Home Seller and “on target” comparable properties to show my Hawaii Home Buyers before submitting an offer.
Indeed, this market is crazy.
Doing the best I can with off the wall appraisals…
…and ultimately leaving the “bottom line” decision…
….Up to the home buyer or seller.
Where do WE go from here?
CRAZY.
*Note: How is the market in your neck of the woods?
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