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A Change In Appraisal Activity?

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Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
All of the economic indicators I've seen say that the economy is coming out of the recession. Here's the latest from the Washington Post:

http://www.washingtonpost.com/ac2/wp-dyn/A...anguage=printer


I just wonder if the bulk of the refi's will soon be replaced by sales as savvy buyers move to snap up the cream of the over supply of fine houses available on the market right now. I'm starting to see more and more sales in just the past 2 weeks. Perhaps the switch is upon us before we were aware of it.

Comments?
 

Steve Owen

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Missouri
I don't know that I can discern an uptick in sales. . . yet. On the other hand, re-fi's are already a thing of the past in this market (until the next cycle swing).
 

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
That depends on your market Richard. Ther is no over supply of fine homes in Metro N'awlins.
 

Mike Seward

Senior Member
Joined
Jan 23, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I don't see any over supply of homes in my area. In August, my volume is running 80% of what it was in June and July. The big difference is that sales represent 50% now compared to 20 or 25% during the refi boom.
 
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