Problem Appraisals (and other challenges)

Perhaps this article is a little over the top, but appraisals can be quite an issue in this rising market.  Best approach is to have a good Realtor used to dealing with challenges such as these!  - David

NAR: Appraisals Continue to Hamper Sales | Realtor Magazine

Very unfortunate that poorly conceived regulations and the forced selection of random appraisers (vs. proven, qualified practitioners) are hampering the comeback of real estate markets in the US! - David

NAR: Appraisals Continue to Hamper Sales | Realtor Magazine

Appraisal Coming Up? Here's How to Optimize It

Ten Tips to Up Your Home’s Value During the Appraisal is a good review of what matters to an appraiser, and therefore to you if your home is being appraised for a sale or refinance. - David

Home In Escrow but Won't Appraise?

One of a buyer's key purchase contingencies is the appraisal contingency. If you're asking considerably more for your home than your Realtor advised, and manage to get into escrow for close to that amount, you might be at risk.  But what if your home is reasonably priced and still doesn't appraise for the agreed-upon purchase price?  Then you're going to need a truly knowledgeable Realtor (or with you had one!) to help fight back against a low home appraisal.- David

Foreclosure glut deflates all home sales

I'm often asked whether (or why) distressed property listings and sales (foreclosures, short sales) affect the value of normal properties offered for sale under standard terms.  Here's a commentary on that topic from MarketWatch:

Foreclosure glut deflates all home sales Realty Q&A - MarketWatch

The bottom line is that the market prices homes in light of available substitutes, so distressed properties, though usually in much worse condition than other properties, definitely have an impact in the eyes of buyers, appraisers, and lenders.

Time to change home appraisal practices?

Counting distressed properties in home appraisal comps has the deleterious effect of dragging down values to those of homes with considerable deferred maintenance.  At minimum, distressed home sales used as comps need to be adjusted upward to account for the typical problems associated with these homes. - David

Is it time to change home appraisal practices? - MarketWatch

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