Doug in NC
Elite Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
Since mid-late last year, I have noticed a definite trend of leveling off in values. Through the past several years up to this time, appreciation has been at a consistent 3-5% increase on average.
Lately, I have done several appraisals where values appear to have changed very little in the past year. For relocated employees, they may even be forced to take a loss, in some cases.
I was just wondering if others are noticing this trend. A veteran realtor confirmed this to me today, as his client will be lucky to get what they paid for the home less than 2 years ago. I can't help but wonder if a contributing factor could be over-inflated appraisals from the past years of good economic times. Some people are going to be real unhappy when they find out they are losing money on their real estate investments. Hopefully, this will help lead to the weeding out of some "what number do you need" appraisers.
Lately, I have done several appraisals where values appear to have changed very little in the past year. For relocated employees, they may even be forced to take a loss, in some cases.
I was just wondering if others are noticing this trend. A veteran realtor confirmed this to me today, as his client will be lucky to get what they paid for the home less than 2 years ago. I can't help but wonder if a contributing factor could be over-inflated appraisals from the past years of good economic times. Some people are going to be real unhappy when they find out they are losing money on their real estate investments. Hopefully, this will help lead to the weeding out of some "what number do you need" appraisers.