It is with great sadness that one of my deals has fallen through because an appraisal came in too low. How low you ask? $39,000.00 too low. The seller refused to come down and the appraiser refused to go back out or change the appraisal because the three (3) comps in the complex were too compelling. My buyers obviously should not overpay and the sellers have it in their minds it is still worth $400K!!!!! The seller will not go down and my buyer's will not overpay.
There are too many agents out there "buying" listings. We are the professionals and REALTORS should uphold the ethics we abide by as REALTORS. Along with the news about scrutiny of the mortgage industry, we should encourage agents and realtors everywhere to protect our profession.
What is a home's true worth?